Should I accept Bitcoin for payments on my online store?

[tippytoes]

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!

Yes, should be clear with clients how you are going to accept crypto so they know that you will be basing in the current market. But wondering if the OP pushed thru his crypto payment in his shop since he created this thread? Because when he posted this topic, the btc price was $14k at that time. And if he managed to implement what he was planning, and had few customers that paid btc, guess, the value right now of that btc is more than double. OP has not posted recently here.

[kawetsriyanto]

Considering the current value of Bitcoin and the transaction fees, it will be a bad idea to accept Bitcoin for payment

I don't think the value of Bitcoin is a problem, but I agree that transaction fees still the biggest obstacle here. If we can lower the transaction fees, it is okay to accept Bitcoin as a payment tool. However, we also need to consider where the business is located. There are some countries that don't allow it as payment. So, If we make it as a payment tool there, it will be illegal.

[maculeth]

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

what marketplace? is there an option to buy using crypto? because as far as I know marketplace usually uses paypal or credit card as payment. if so and you just add a new option in your description as a custom payment using crypto, I think it doesn't matter because you can adjust the price of the item and the crypto exchange rate so that buyers don't get confused.

[panganib999]

Considering the current value of Bitcoin and the transaction fees, it will be a bad idea to accept Bitcoin for payment

I don't think the value of Bitcoin is a problem, but I agree that transaction fees still the biggest obstacle here. If we can lower the transaction fees, it is okay to accept Bitcoin as a payment tool. However, we also need to consider where the business is located. There are some countries that don't allow it as payment. So, If we make it as a payment tool there, it will be illegal.

I also seeing that accepting bitcoin for payment online is the issue of fees. We all aware the value of bitcoin is beyond great right now. And a lot of things may accomplished out of that experience. Considering it may somehow give you a 50/50 outcomes. But I think we all know that our world is now in a modern era where we always get what is the best and innovative. Bitcoin is one of the best thing today. You must first know a lot more about it and you'll set to go. Personally, I may accept it in my future businesses because I believe what it is right now is going to be big someday in the future.

[Amejoaquim]

I've been using this payment for my online store since 2018 and it very good for my online store to reach buyer from outside my country.

This payment method is pretty good and you should added it into your online store.
But when the price of btc going up, the demand of the buyer using this method is pretty low.

[Amon1231]

Yes, but consider things just like its price in the future or its current price. Also, it makes every transaction easier and safer.

[GideonGono]

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

The only problem in accepting crypto as a payment for your business is only the volatility other than that I don't see any other problem,
Due to the volatility if you would accept crypto as a payment and only hold it you could lose instead of gaining profit that would affect your business.
And it wouldn't bother much if your customers aren't into crypto they could just continue to pay on whatever they use to pay before you accept crypto.

[Vaskiy]

Just having it an optional payment gateway is good for an online store. Maybe the usage will be quite low by now, things will change with time. Another thing one needs to be prepared with reserve funds, because the market volatility will make the price of different products vary. By the time we should have the right calculation to tackle the business.

[Issa56]

I don't really think is a bad idea since bitcoin payment method is not the only means by which your customers can pay the once that are not into cryptocurrency can try any other payment method by the way currently with the price of bitcoin I think the transaction fees will be very high so you have to also put that into consideration and also you should also have other coins you will accept not only bitcoin. But I don't think it's a bad idea adding the payment method.

[cocoladygaga]

Yes sure it is really a good way, if you have some goods which could use bitcoin pay for, I would like to buy some. Luckily, there are already some stores that can accept digital currency payments, you can also go to Google to see their successful experience.

[In the silence]

The more payment methods, the better. Although, I don't think that anyone is going to buy with bitcoin currently. You realize that he/she has to pay product's price + ~$7 in order to get the transaction quickly confirmed. If the fee was much lower I would suggest adding it.

It's on the buyer if they will purchase the item on online with bitcoin because the buyer will automatically provide the gas fee. I don't see any misuse on his/her statement. It can be an investment beside on having already a business.

[Asusnumbaone]

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

There is many mobile application that have transaction on the bitcoin because the demand of this cryptocurrency is high and it is good opportunity to have an e wallet on it. Maybe other business such as store would accept bitcoin as an payment instruments or medium of exchanges.

[saffira]

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

I think you should be careful on that idea. For me it is safer to accept local currency or dollar.  The price of bitcoin is volatile, you may lose your money. I do not think it is a good way of payment. Transaction fee is also a factor that will affect the processing.

[samputin]

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

Don't do that, the price of bitcoin is not stable which is no assurance of profit. Also, in every transaction their is a fee, the customer did not want to buy stuff with additional charge.

Well, you are now happy because of big pump of bitcoin price but for sure if the price goes down you avoiding the bitcoin.

Much better to use fiat or card payment for the stable price of your business and if you want to hold bitcoin, then buy it in low price and hold until the price become expensive for another profit.

[Koadharber]

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

Eventhough there are no guarantees that your customer owns cryptocurrency and use it as a mode of payment. Adding it as one will definitely create an idea that your business is evolving and adjusting to the new environment and trends of the market. This will give you advantage to your competitors.

To give you an example: For traditional business not to use online as a medium too for selling would be one of the conclusions that your business is slowing down. This is for the reason that you need to adjust to the new development. More people tend to spend time in their phones and that will give gou more advantage in advertising your product.

[goldade]

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

Well, I think that's one of the best decisions you'll make. Accepting bitcoin in your store shows how ready you are to embrace change.
Dealing with the volatility of bitcoin is one problem you'd have to face though. You'd probably lose money with that. But you could also gain more.
It isn't a bad thing to give it a try even if your customers aren't much in bitcoin. I think the best option is to give other alternatives in altcoins Yo help supplement.

[angrynerd88]

It's fitting additionally empowering to buy any merchandise with cryptocurrency both bitcoin and altcoins because bitcoin could be a cash and it can be utilize to buy and importation of diverse sorts of products in the event that the store or administration of a company acknowledges exchanges with cryptocurrency,The exchange should process without delay or dissatisfaction through exchanges, from my point of view the right reply to these address is accept it, since bitcoin has as a cash has overwhelms half of the nations so subsequently it's best as of now to acknowledge or esteem cryptocurrency more than fiat cash since of its values in cryptoworld.

[john_nautica]

It's fitting additionally empowering to buy any merchandise with cryptocurrency both bitcoin and altcoins because bitcoin could be a cash and it can be utilize to buy and importation of diverse sorts of products in the event that the store or administration of a company acknowledges exchanges with cryptocurrency,The exchange should process without delay or dissatisfaction through exchanges, from my point of view the right reply to these address is accept it, since bitcoin has as a cash has overwhelms half of the nations so subsequently it's best as of now to acknowledge or esteem cryptocurrency more than fiat cash since of its values in cryptoworld.

I agree with you. Accepting and embracing the many benefits of cryptocurrency now, to be integrated into our daily lives, is actually the mere way for the public to also start acknowledging it. Especially now that the process of exchange, preferably electronically due to the desire to contactless interactions, would be very ideal and efficient amidst the current situation.

[john_nautica]

Yes you can added to your payment bitcoin it is optional only , it is help to the btcoin community because by doing that you advertise the bitcoin that will gives a chance to grow also the user and investors of this that will result the rise it. Also it is good to your business because for the crypto user who possible to see your store will try it and you will earn profit if they avail your product.

That is right. Bitcoin community will really benefit and be of benefit to your store as well, as I also think that bitcoin enthusiasts would most likely to support your store having an option of cryptocurrency as mode of payment. For sure that once this would be started, many would follow as crypto is now being known to the world. Perhaps there could be progress on crypto adoption then.

[Jonyshake71]

If bitcoin is legally recognized by your government then you can undoubtedly start accepting bitcoin currency as your consumer's payment method.even no problem if you want to use others currency like ether or usdt. Paying with those online currency would be easiest way of payment for your consumers.even if you already accept bitcoin, then you can see how much bitcoin raised recently! So its good idea to accept bitcoin for your Online store as payment method but don't forget about fees issue