Should I accept Bitcoin for payments on my online store?

[Dewi89]

You don't add bitcoins to the main payment, so why worry about that but you need to analyze your customers about the payment. I think it's okay and it makes sense if you add a payment alternative to your online store.

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[emmybd]

You should immediately start accepting bitcoin on your online store, as bitcoin has firmly established its place in the market. The more payment option, the better it will be for your business. I believe the transaction fee will be an issue if you want to buy things with a small amount. But, there are certainly many benefits in using bitcoin as a payment option.

[Mike Mayor]

You should be accepting as many different types of payments as you can. Never turn anyone down ever again! Serious business people will use as many currencies as they can. I don't even bother with sites that use a very limited number of payment methods. It looks very unprofessional to me. Add Doge, bitcoin, litecoin, eth. There a few more you could add to that but don't go too crazy. Diversify but don't over diversify.

Put it this way. If I had to choose between your shop and another shop that was almost the same but you had crypto payments I buy from you and keep coming back. People get excited when they see you accept crypto.
Don't worry about volatility. Just hold what you have and forget about that. You can spend your whole life worrying about stocks bonds nad crypto, so don't. If you do not believe in the crypto enough to hold it then don't accept it to begin with.

[Nellayar]

If I were you, I definitely accept it. Bitcoin is invented to have a P2P transaction. But because people made it as an investment or asset, it turns into passive income. Let us not forget the true essence of bitcoin. And accepting it as a payment for any kind of products and services will help btc community to grow further. Do not doubt in btc becausw it has high fees and volatility since it may help you also to have a fast and reliable transaction. Atleast, there are assurance that your transaction is legitimate because there are online buyers who are bogust. They just send a transaction slip indicating that the money is sent to you but it is not. In blockchaing technology, no one can give you a fraud transaction.

[globalcitizen]

If you are an enthusiast of crypto which I believe you are, then I think you would want to consider accepting bitcoin in your business to contribute to its global adoption. My opinion. Do your research and be sure of what you are doing.

[Sithara007]

Some of the online and physical shops which had added Bitcoin as a payment option earlier had to remove it, due to the lack of transactions. Even for online stores such as Overstock (which has been accepting BTC for many years), the volume of Bitcoin payments doesn't represent more than 2% of the overall revenues. On top of this, you need to deal with the additional paper work, related to the taxes and regulations. My advice is to test it for 2-3 months initially. If the volumes are not significant, then you can remove it.

[Crptomagma]

Bitcoin is a good currency with reasonable exchange rate so I don’t see any big deal in using bitcoin as a means of transactions in your store. The point is that not every body is interested or have trust using bitcoin so your ability to convince your client about using bitcoin is the issue here. But customers who already know of bitcoin and appreciate the technology will easily subscribe to using it for transactions.

All to do is to have a particular bitcoin address specifically for the business and maybe publish it and paste it at the store, so customers can easily see that these store accepts bitcoin payment. Then to the customers that don’t know or have not used bitcoin on their life before and are interested in the currency, you have the duty of enlightening them about bitcoin and how it works.

[xcaret]

The more people have similar ideas , the better off we will all be .
At the moment I don't think there is much I can buy with BTC .
If your store is online ,you should be several jumps ahead of retailers with store front shops in a strip mall. They are paying for the lease ,utilities, and business tax.
You would be under the radar , and with such low overhead, you could afford the fee to process bit coin transactions .
Be sure to let us on here know if you start .   

[Rishabh riyz]

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

its good that you are opting for crypto as an mode of payment , it certainly not gonna affect your customers cuz they can always pay through the old way fiats.
the more ways of accepting payment he better the business.
I don't think you would go in loss since you can use it as an investment plus not many people would opt to pay via BTC
it would be a good way to gradually make up an investment in BTC and if you wish to make investment in another crypto you can do so.

[Campbvrry]

It can be traded online, and its safety must be ensured.

[Keila Faith Villanueva]

don't. if you want use money stored in bitcoin, just sell it and take the money. If you wanna keep the money, so why pick the payment application, it may increase the risk of being stolen.

[Yum Bravo]

Actually, it is really hard, firstly the crypto not be accepted by everyone and it is a little difficut for them to change it to cash. Secondly, I think expect the people in this forum, maybe you will be considered as a lier

[gurunanakji777]

You can try to add an option of BTC payment apart from other payment options. Volatility is the main concern and no one can deny this and apart from this customer must have internet access on their mobile while paying in BTC. There are very few people using Bitcoin worldwide. But If you have a long-term vision about BTC then you should not worry about accepting in your business but if we see it practically it's quite challenging to accept it. 

[Ozero]

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

We just have very few reviews of people who use bitcoin and other cryptocurrency as a means of payment when selling goods and services. We would like to hear their views on the legal, organizational, technical and other aspects of trading using cryptocurrency. Surely additional difficulties will arise here.
Cryptocurrency will not develop fully if it is not widely used as a means of payment.

[bitzizzix]

It all depends on the location or country where bitcoin or other crypto is legal or not, if it is legal everything will be fine and not as difficult as one might think for payment or transaction issues because over time everyone will understand.
And if it's prohibited, you can only make online payments or transactions as long as you know how to use them and what level of security they are.
like in the country where I live and like that, because it is strictly prohibited if bitcoin or other crypto is used as a means of payment and is only allowed as an asset or investment and exchange it for fiat if you want to make a purchase, and if you want to use bitcoin, you have to make online transactions and only for certain people who understand bitcoin.

[VanityWallets2015]

It all depends on the location or country where bitcoin or other crypto is legal or not, if it is legal everything will be fine and not as difficult as one might think for payment or transaction issues because over time everyone will understand.
And if it's prohibited, you can only make online payments or transactions as long as you know how to use them and what level of security they are.
like in the country where I live and like that, because it is strictly prohibited if bitcoin or other crypto is used as a means of payment and is only allowed as an asset or investment and exchange it for fiat if you want to make a purchase, and if you want to use bitcoin, you have to make online transactions and only for certain people who understand bitcoin.

Indeed, the legality of Bitcoin and cryptocurrency in general should be your first basis in setting this type of mode of payment.
In business, there are many lawful requirements that you need to abide, and legality is in question then it’s a problem.
And of course, the knowledge of the customers regarding cryptocurrency would be significant as well.

[dupee419]

As long as you know that the price can change anytime, so I'd suggest putting the products on fiat currency and make a signage or poster that you accept crypto as payment and that prices may vary because of the volatility, with that being said, I think adding another method of payment is good and as long as you have a good trusty wallet that you use, and that you can easily convert, then I think there's no problem to that, good luck!

[LimLims]

If you have more payment methods then definitely more sale will be approached through it.
Whether people gonna use it or not, but still it will make you unique among your competitors.
Moreover out of 100 people there will be one people who will be wanting to pay through BTC and will be happy to see that you will be accepting it.
And tbh there is no risk other than price fluctuations.
If you can bear this, then you are good to go.
Wish you good luck OP with your business.

[engr.rahman13]

not a bad idea at all. now a days everyone is much familiar with cryptocurrency and they seems ready for trading in crypto. most of the people only trade in crypto and not with any other payment method so its good to add bitcoin as a payment.

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