Should I accept Bitcoin for payments on my online store?

[pankowri]

We are not living in a society where cryptocurrency is widely used to pay the bills. If anyone wants to use cash and anyone wants to use cryptocurrency as cashless then both will be considered for me as a customer and I have to give them my service with utmost priority. If the store owner is me, then I must set using both methods to pay. But I can't assure others thinking in this type of perspective.

[AjithBtc]

We are not living in a society where cryptocurrency is widely used to pay the bills. If anyone wants to use cash and anyone wants to use cryptocurrency as cashless then both will be considered for me as a customer and I have to give them my service with utmost priority. If the store owner is me, then I must set using both methods to pay. But I can't assure others thinking in this type of perspective.

Yes, this is how every store owners need to think. The customers convenience needs to be provided with utmost priority. At present we don't have high access to use cryptocurrencies on stores and other transactions. But, the small effort taken to accept bitcoin could help with the widespread of bitcoin usage. Particularly people who prefer earning out of cryptocurrency can consider the earnings through stores for holding, because the more we hold more will be the profiting.

[bitcoguru]

Yes, you can bitcoin as payment method but before it you may run a survey at your website about the seller or interested to buy things paying bitcoin as  payment method.

[mich]

Yes you should accept Bitcoin for payments at your online store. 

But not only should you accept Bitcoin you should also offer a incentive for people to spend their Bitcoin like a small discount or something.

[bayu7adi]

The implementation of Bitcoin as a payment gateway is recommended. You don't aim to get everyone to pay using Bitcoin, but you are creating other options for payment methods for buyers of goods in your online store. So, the existence of cryptocurrency can be used as another payment alternative. If you think that cryptocurrency is feasible, you can also provide other cryptocurrency options such as LTC and XRP. This is intended to reduce transaction fees (Bitcoin transaction fees of around $ 7 - $ 10).

I'm sure buyers will be more than happy if they have a wide choice of payment methods, so that they can match their tastes,

[mikelpol]

I think you should add cryptocurrency as payment. Many people do not withdraw cryptocurrency to bank cards for many reasons, it is more convenient for them to pay with cryptocurrency. I myself am one of such people and if I see a store that accepts bitcoin, I immediately buy there. Just don't add unpopular altcoins, otherwise you can lose money on volatility.

[wack slacker]

I think it's a good idea if your country has no regulations that prevent payments with cryptocurrencies. Bitcoin is a global currency and is going through a strong growth cycle, if you have the patience to hold Bitcoin for a few more years, you will become rich because your bitcoins are holding constantly increasing. Treatment.
Don't worry too much about Bitcoin's price volatility as not all customers pay via Bitcoin so consider bitcoin investment in your proceeds.

[pankowri]

We are not living in a society where cryptocurrency is widely used to pay the bills. If anyone wants to use cash and anyone wants to use cryptocurrency as cashless then both will be considered for me as a customer and I have to give them my service with utmost priority. If the store owner is me, then I must set using both methods to pay. But I can't assure others thinking in this type of perspective.

If it is legal in the country, then definitely should be adding bitcoin as a payment option. In start might not be many would be knowing or interested in it, but with the spread of word and promotion being done as customers will be made aware about it, this will just be an advantage for the long run and obviously some would be there who would like to make payment in bitcoin and will come to store to purchase stuff for it.

Yes, the customer is the king. So they must deserve the utmost priority from the shop. If they want to pay in Bitcoin and the country already legalized it then there has no problem with Bitcoin as a payment gateway to pay for the needs so that both parties can feel better. Small try can change the whole scenario.

[Majharul Saiif]

I can't  .  Because Bitcoin is not legitimate in my country. It should be accepted for payments when it is legal. Waiting ...

[AicecreaME]

You can set up bitcoin and other cryptocurrencies as another mode of payment on your online shop, but make sure to know its risks as well. You don’t want to lose everything you worked hard for in just a snap. I guess the main issue in putting btc and alt coins aside from its volatility is its security as well. Make sure you secure your wallet to avoid those phishing schemes and hackers trying to access your wallet. You might also look into consideration the rate for each transactions and the processing time. Many people that have e-wallets are very particular in this matter because using btc in transactions sometimes cost so much and time consuming compared to traditional ones.

Assess your country first before making a move. Is your country strict and has regulations involving cryptocurrencies? Are the citizens using bitcoin? If you think that the answer to the questions are in favor of what you’re planning, then you can continue. You can set up cryptocurrencies as temporary mode of payment  together with fiat currency as your main mode of payment. If many people are frequently using the former, you can make it permanent. Just make sure that you provide other mop as well such as through bank transfers, e-wallets, payment centers, etc because many people aren’t still aware of btc and might plan to order from you. If you won’t set up other digital mode of transactions then you’ll lose some customers and sales.

[ice098]

We are not living in a society where cryptocurrency is widely used to pay the bills. If anyone wants to use cash and anyone wants to use cryptocurrency as cashless then both will be considered for me as a customer and I have to give them my service with utmost priority. If the store owner is me, then I must set using both methods to pay. But I can't assure others thinking in this type of perspective.

If it is legal in the country, then definitely should be adding bitcoin as a payment option. In start might not be many would be knowing or interested in it, but with the spread of word and promotion being done as customers will be made aware about it, this will just be an advantage for the long run and obviously some would be there who would like to make payment in bitcoin and will come to store to purchase stuff for it.

The very thing that you should consider by implementing this method of payment on you online store is if your country legalized bitcoin and does you know some of the stores/online store already did this? But in my own opinion as long as our government didn't prohibited bitcoin or cryptocurrency in our country i will surely included bitcoin as a mode of payment well having bitcoin were really good as an investment.

[pankowri]

We are not living in a society where cryptocurrency is widely used to pay the bills. If anyone wants to use cash and anyone wants to use cryptocurrency as cashless then both will be considered for me as a customer and I have to give them my service with utmost priority. If the store owner is me, then I must set using both methods to pay. But I can't assure others thinking in this type of perspective.

If it is legal in the country, then definitely should be adding bitcoin as a payment option. In start might not be many would be knowing or interested in it, but with the spread of word and promotion being done as customers will be made aware about it, this will just be an advantage for the long run and obviously some would be there who would like to make payment in bitcoin and will come to store to purchase stuff for it.

The very thing that you should consider by implementing this method of payment on you online store is if your country legalized bitcoin and does you know some of the stores/online store already did this? But in my own opinion as long as our government didn't prohibited bitcoin or cryptocurrency in our country i will surely included bitcoin as a mode of payment well having bitcoin were really good as an investment.

Yes, I know. In the world, many online stores already implemented their payment system to use Btc or cryptocurrency mainly. It is currently impossible to spread in a bigger place because lack of acceptances. Government should change the outlook against Bitcoin and should become creating friendly environment for Bitcoin to use publicly. Then the demand will be increased and we can pay in Bitcoin for payments easily.

[qwertyup23]

<snip...>

Hmm it depends but I would definitely consider BTCs as a payment if I were to own a business.

The problem, though, would be the transaction fees as this might either make or break this payment method. In addition, the prices of your products would very much fluctuate due to the volatile nature of bitcoin as a decentralized currency. But like what others mentioned, the more you add alternative methods for your business, the better it is in the consumer's perspective.

We are not living in a society where cryptocurrency is widely used to pay the bills. If anyone wants to use cash and anyone wants to use cryptocurrency as cashless then both will be considered for me as a customer and I have to give them my service with utmost priority. If the store owner is me, then I must set using both methods to pay. But I can't assure others thinking in this type of perspective.

You do have a point. Though other countries may prohibit bitcoin as a payment method, some other countries lax their rules into cryptocurrencies as a whole creating a division among these countries. But a decentralized currency cannot be detected, thus having to purchase via bitcoin in a country which prohibits such may be difficult to trace.

[Genemind]

You may accept Bitcoin but let your buyers and customers choose their mode of payment. You have to consider that some buyers don't know how to use or access Bitcoin. Most people would prefer cash or bank transfer. However, accepting Bitcoin payments will also be an advantage because you could also use it as an investment.

[noormcs5]

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

Why are you waiting for suggestion ? You should go ahead and add bitcoin as a payment method. Only make sure that you live in a country where bitcoin is not illegal so that government agencies don't disturb you.

[abel1337]

Since you are asking in a Bitcoin forum, You will mostly get encouragement to accept crypto payments. Nothing will be bad if you accept crypto payment since your possible customers that will pay bitcoin probably know how it works. I'm sure they are aware of the fees and the confirmation time of their transaction. Having many payment methods will be good for a business and customers since you offer comfort to your customers of what payment method they will use.

[CarnagexD]

To accept payment through cryptocurrency is a really risky for you and for the customers you will be serving. For instance, it is no secret that bitcoin, slong with the other cryptocurrencies in the market have a very high volatility rate. Another would be the high transaction fees that your customer will be forced to pay in order to close out the transaction. So instead of being another gateway to yiur success. It may even become the downfall of your business.

[taufik0911]

yes you can add bitcoin to your payment option to increase purchases because there are some people who don't want to be traking transactions and feel bitcoin is safer for anonymous transactions
other than that it is easier and the bicoin rate in all countries is the same as USD or EUR whose exchange rate is different for each exchanger

[fauzan123]

Yes, you can bitcoin as payment method but before it you may run a survey at your website about the seller or interested to buy things paying bitcoin as  payment method.

There are many things that must be considered before really wanting to use bitcoin as an alternative means of payment, such as fluctuating price movements that can cause profits and losses and also the prices at your shop can change, of course this must also be taken into account because you remember some of them. large buyers will also notice it.

[TopT3ns]

I think this depends on the situation and conditions of where you are trading and you also have to be able to see the people around you, if they already understand payments using cryptocurrency or bitcoin and transactions become faster, more efficient.