Should I accept Bitcoin for payments on my online store?

[senya-com]

Yeah, great idea. Very few shops accept bitcoins. Increase in number of online shops determines bitcoin in becoming a great retail tool, as it was intended to become.

[Noctis Connor]

I'm considering to possibly add Bitcoin and other altcoins as a way to pay for goods purchased on my online store.

Is this a good idea? Are there any risks (other than the volatility)?

Is anyone really going to use this?

I'm afraid that my customers may not be much into cryptos, but I guess that it's hard to tell until you try ...
I also have some doubts on the technical side.

Thoughts?

Thanks in advance

You should know this.

1. How popular bitcoin in your country (area)
2. The more payment you have the better
3. You should know more better about bitcoin if you think it is risk or not so there's no doubt when your going to accept it or not.
4. If there are not in crypto you should start advertising it by posting or etc that can help for people to be aware that bitcoin payment exist.

[Renampun]

I'm considering to possibly add Bitcoin and other altcoins as a way to pay for goods purchased on my online store.

Is this a good idea? Are there any risks (other than the volatility)?

Is anyone really going to use this?

I'm afraid that my customers may not be much into cryptos, but I guess that it's hard to tell until you try ...
I also have some doubts on the technical side.

Thoughts?

Thanks in advance

of course, problems will always arise, now it remains how you prepare risk management...
accepting payments with cryptocurrency will definitely not always be smooth, apart from the volatility of technical matters such as processing time for transactions or even the internet network or bugs will definitely be problems that will be encountered frequently, but I support you to add Bitcoin and Altcoin payment options to your online shop.

[finaleshot2016]

I'm considering to possibly add Bitcoin and other altcoins as a way to pay for goods purchased on my online store.

Is this a good idea? Are there any risks (other than the volatility)?

Is anyone really going to use this?

I'm afraid that my customers may not be much into cryptos, but I guess that it's hard to tell until you try ...
I also have some doubts on the technical side.

Thoughts?

Thanks in advance

of course, problems will always arise, now it remains how you prepare risk management...
accepting payments with cryptocurrency will definitely not always be smooth, apart from the volatility of technical matters such as processing time for transactions or even the internet network or bugs will definitely be problems that will be encountered frequently, but I support you to add Bitcoin and Altcoin payment options to your online shop.

Yah agree that's why cryptocurrency should be an alternative payment only, not the main payment method because if circumstances like loss of connection occur, it might affect the business. The business should accept fiat as the main currency in his shop while cryptocurrency will act as secondary for those who want to spend their bitcoin on the shop. Problems and maintenance are common in business, we're not always smooth sailing in life, that's why you should have your own protocol when you put this kind of method, so you can manage even there's an error.

[aemma]

I'm considering to possibly add Bitcoin and other altcoins as a way to pay for goods purchased on my online store.

Is this a good idea? Are there any risks (other than the volatility)?

Is anyone really going to use this?

I'm afraid that my customers may not be much into cryptos, but I guess that it's hard to tell until you try ...
I also have some doubts on the technical side.

Thoughts?

Thanks in advance

To begin with, it is a good idea and if truly you want to achieve it, you need to work on it. However, you made a very vital point and that is, not many customers might be into crypto, in this case, I would suggest that if you add it as a payment method, also have a section where you can put up a brief knowledge/Information about Bitcoin and other cryptocurrencies, so as to enable them have an idea on what it is all about, once that curiosity is there, they will be forced to learn and participate in what you are proposing. Also, just a thought, you can also give a discount for payments made with Bitcoin; we all know people values discounts, I mean one will always be happy to save some bucks, so with the discount gradually people will start getting involved with payment via Bitcoin and once the audience is much, you can gradually remove the discount as well, since you have achieved your aim.

[Rengga Jati]

It deserves to try, why not? 
If you apply it, it makes people who have Bitcoin be easier to pay. On the other hand, you contribute to make Bitcoin be real as a payment tool. I think it will be interesting, you start to make people realize that their Bitcoin is very useful now. So, people are aware that Bitcoin is not only for investment or trading, but it also can be used for payment purposes. FYI, there are already many people who are trying to accept Bitcoin as the payment of their stores. So far, it is quite successful, buddy.

[romero121]

Bitcoin acceptance into your business/online store is a much needed one, if you're in a country where cryptocurrency usage isn't banned/against the law. Right now more number of online stores providing different services have begun to accept cryptocurrencies. When we take note of the same, these services are availed within few countries. This means the adoption and acceptance level have grown high in those countries.

Everything that has got value can be used as an exchange asset. Here we've got bitcoin carrying value in it, so accepting it doesn't gonna get you into loss. Probably if your countrymen weren't aware of cryptocurrencies then you need to have patience as we're in the early days of cryptocurrency adoption.

[daarul50]

It deserves to try, why not? 
If you apply it, it makes people who have Bitcoin be easier to pay. On the other hand, you contribute to make Bitcoin be real as a payment tool. I think it will be interesting, you start to make people realize that their Bitcoin is very useful now. So, people are aware that Bitcoin is not only for investment or trading, but it also can be used for payment purposes. FYI, there are already many people who are trying to accept Bitcoin as the payment of their stores. So far, it is quite successful, buddy.

Yes it is
When people have the same thought to initiate setting up their own business to accept bitcoin or any other crypto , that is the sign of a mass adoption getting closer .
I believe people will do aware about this and compete to have bitcoin as their payment method soon.

[Traderbtcc]

I'm considering to possibly add Bitcoin and other altcoins as a way to pay for goods purchased on my online store.
Is this a good idea?

This is totally up to you, if you find bitcoin and other altcoin payment convenient for you, then sure, you can go ahead to use it, but they are alot things you need to have in mind, will your customers prefer using cryptocurrency payment over the regular fiat visa or master card payment method, that's the main thing you have to consider first, "cause your customers are the owners of your business" how? Well if they stop patronizing you your online store will surely stop working, so it's always do things with their best interest in mind.

Are there any risks (other than the volatility)?

This is also one the risk of implementing crypto payment method, I think this is main issue that have held back alot of business from accepting crypto payment method, e.g let's just say a customer buy a particular goods when the price of bitcoin was at $16k, then after about an hour, the price of bitcoin dips, that will definitely be a loss for you.

[Wawa2013]

Of course it's a good idea to accept Bitcoin as payment at your online store, because making many payment options on your
online store is a good thing in my opinion. Moreover, customers who do have Bitcoin will be helped to spend their Bitcoin,
and customers who do not have cryptocurrency can still make payments with fiat currency. So nothing is harmed for your customers,
by accepting Bitcoin payments you can make your online store look different from the others, this can be a special attraction.

[Nazmul012]

Sounds good. I saw Some user worried about transaction fee and loss if price dump. Firstly transaction fee is important point but others online payment method like paypal also charge transaction fee, what about that? If people can provide fee for paypal translation, then what's the problem with bitcoin? Besides don't accept bitcoin if you don't know much about it. Cause before accept it, you must know about it properly, when to sell or when to hodl. Otherwise you will be in loss, your online store business

[carlisle1]

Sounds good. I saw Some user worried about transaction fee and loss if price dump. Firstly transaction fee is important point but others online payment method like paypal also charge transaction fee, what about that? If people can provide fee for paypal translation, then what's the problem with bitcoin? Besides don't accept bitcoin if you don't know much about it. Cause before accept it, you must know about it properly, when to sell or when to hodl. Otherwise you will be in loss, your online store business

this will depend on how is the competition in the business you are with.

if the competition is tight then putting a transaction fee is pain in the ass and surely no one will deal with as there are others that can offer lower price.

But if your business is unique and there are only few in that field ?so putting fees and even other fees is fair because they have no choice but to use yours .

Remember that business is not about what we wanted but what our clients wanting.

[jademaxxiss012]

Definitely you can and it is your choice. However, I suggest you to accept bitcoin but it should be converted to fiat currency once you get the payment. This if you need the fiat currency to make cycle in your business. However, if you just wanted to receive btc and store it as an asset or reserve asset for your business then that could be an ideal.

[nebuch]

you need to accept the fact that you will be in trouble at first stage because you need to adjust from unforseen circumstances. Things might happen accordingly or in unexpected ways. I don't know how you will impressively approach your costumers to influence them that they are in the right store accepting bitcoin payment.

[sotoshihero]

@ts you should accept bitcoin, if you have the opportunity to do so. Nowadays, cryptocurrency is widely acceptable that even airlines and some government agencies accepts it. Its another option your customer to choose so, and hopefully you should attract more customer. Furthermore, accepting bitcoin help add adoption on cryptocurrency acceptance and reach.

[seoincorporation]

Have you investigated the legal face of this decision?

In my country (Mexico) isn't legal to add bitcoin as payment for your local business because bitcoin is not considered 'Money', it's legal face says it's a digital asset, but since isn't money, then you can't have it as a payment method...

[peter0425]

I'm considering to possibly add Bitcoin and other altcoins as a way to pay for goods purchased on my online store.

Is this a good idea? Are there any risks (other than the volatility)?

Is anyone really going to use this?

I'm afraid that my customers may not be much into cryptos, but I guess that it's hard to tell until you try ...
I also have some doubts on the technical side.

Thoughts?

Thanks in advance

if your country is supporting Crypto or atleast open about the use of this then you may consider accepting but first you must be knowledgeable about cryptocurrencies and how risky is this.

But if you are stablishing small business then i think forget for a while your plan of having bitcoin in action not unless you can keep the coins when there is a sudden dump and have another capital to run the business.

[_IRMAN]

What do you sell in your store? do most of your customers understand how to use bitcoin? I think you can use bitcoin as a payment method if:
What you are selling is expensive goods (Because if the goods are cheap, of course no one will be interested in buying them using bitcoin because of the high transaction fees)
Most of your customers must understand bitcoin, because if only one or two people use it, I think your profits will be stuck there.

[Dorodha]

Using Bitcoin in online stores will increase the demand for Bitcoin. If Bitcoin supports Fiat currency in the country where Bitcoin for payments is located then there will be no problem. Bitcoin for payments will not affect the customers. Customers will be able to easily transact with Bitcoin coins like Fiat. Rather, the speed of Bitcoin from Fiat will help a lot in the transactions of the people including the development of the country. Bitcoin is a very lucrative currency in all respects. Good for online stores or investing.

[drlukacs]

I'm considering to possibly add Bitcoin and other altcoins as a way to pay for goods purchased on my online store.

Is this a good idea? Are there any risks (other than the volatility)?

Is anyone really going to use this?

I'm afraid that my customers may not be much into cryptos, but I guess that it's hard to tell until you try ...
I also have some doubts on the technical side.

Thoughts?

Thanks in advance

It's a good idea that your customers have multiple payment options, but make sure you know what to do with the Bitcoin you receive from your customers. The more important thing is that for customers to pay with Bitcoin, you must be the one to bear the transaction fee before they intend to pay by credit card
Also, the big risk here is how do you use Bitcoin? Be aware that the more you sell Bitcoin and withdraw it for cash, there will be a lot of fees for decentralized fiat transactions. This will affect your net profit a lot.