Should I accept Bitcoin for payments on my online store?

[duchamps]

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.

Sure, the transaction fees are quite high right now... but my products are selling for about 100-150$ so it may even work.

Regardless of the price, if your product is worth buying. People buy.

This trade should be thought of in terms of value fungibility: if the product isn't delivering equal or greater returns per annum over a 5-10 yr time horizon, it is not worth buying with Bitcoin.

[siopis]

definitely yes!
Its a win-win decision

[Olivia Wolff]

I think adding a Bitcoin payment is a really good idea. Yeah, maybe not all customers can pay with it, but there is a certain number of clients who will find it more convenient. The more features the better. And the fact that you try new things is also so cool. Don't stand still and try something new.

Good luck with your online store!

[Pierre 2]

I think many different platforms will start adopting Bitcoin as payment option after this bull run ends. Keeping some amount of bitcoin in your bag is always nice, some people were continuosly buying bitcoinm for years not even looking at price, and most of them turned into very rich people over couple of months. Well most customers won't be able to pay with bitcoin that's true but it will also increase crypto awareness, people may consider "wow that bitcoin thing's logo I saw on internet" and they may start to research more about it. In summary I believe bitcoin trading should be more common in our future.

[aTriz]

You can accept bitcoin payments for your online store, which is a great innovation and simplifies payment options, but remember, don't get into a legal case. make sure your country does not prohibit transactions with bitcoin. because we know that many countries prohibit bitcoin transactions

You are right. if someone wants to implement Bitcoin payment option in his business, he has to go through a lot of regulations (if he want to involve authorities) for small business like a shop I don't think that does matter much. and in some countries bitcoin is fully legal and accepting Bitcoin is very easy and doesn't require any effort. only the high fee of bitcoin transactions can be a problem.

[acener]

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 having doubts about it?
If your country doesn't ban or see it as illegal then there is nothing to worry about except for the volatility of the price.
If your customer doesn't use Bitcoin or crypto then they wouldn't pay with it they would stick to the old payment system that's it.
But it could also be a good thing if you starts to accept crypto you would promote it and your shop could also be talked around or gets promoted because of it since Bitcoin is gaining too much attention now.

[geegaw]

If your country is friendly to cryptocurrencies, why not introduce such a payment function in the store? The only thing I would recommend you to do is to find a simple and convenient gateway for converting cryptocurrencies into fiat money...

Converting bitcoin to cash is not a big deal as there are so many groups of individuals that can convert us easily without too much fees, the problem here is whether our country accepts it or not when many countries are quite friendly but applying is not allowed, consumers also didn't show a preference for the bitcoin payment method when it wasn't as convenient as bank transfer. And don't just think about others, we should think about our interests as online sellers, Bitcoin has no fixed value, how do we update and calculate to not lose money with this volatile value

[isaac_clarke22]

~

It will be a slow start actually, as it depends sometimes to the area that the store belongs. I am pretty sure that nobody would adopt crypto to even banned countries even such personal transaction is still possible.
I was planning to conduct a feasibility study for this because I'd like to at least increase BTC awareness for people around here.
I remember someone posting in here  when he made a seminar about cryptocurrency. It was quite an initiative actually and it was successful

[worldofcoins]

You should accept the bitcoin as a payment method Since there are numerous bitcoin clients and trying to utilize it someplace.
If you acknowledge it as your payment choice, you'll surely get bunches of customers and traffic on your site.
 
It's not risky until you commit a few errors like, overlooking your private keys or lost it.
Not just bitcoins you can offer others plenty of coins as well. You should not stress about bitcoin it's unpredictable money and it won't bring your down.

[zaesvlas]

As for me, this choice depends solely on the representative of the store or the point of sale. I think the possibility of paying with bitcoin is rather an opportunity to increase customer loyalty.

[amitsingh07]

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.
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[Chato1977]

How's your Business now? after a year that this thread asked , any progress? or you changed your mind from upgrading into this?

As for me, this choice depends solely on the representative of the store or the point of sale. I think the possibility of paying with bitcoin is rather an opportunity to increase customer loyalty.

i believe that OP is not really interested on this matter .

[blckhawk]

i think you should try this, because it can give your store a more diverse type of customers, because this will also be a type of advertisement for your store because more people will tend to buy at your store, especially the ones that have cryptocurrency on them. this will be a great addition to your store and will help you expand more.

[southerngentuk]

i think you should try this, because it can give your store a more diverse type of customers, because this will also be a type of advertisement for your store because more people will tend to buy at your store, especially the ones that have cryptocurrency on them. this will be a great addition to your store and will help you expand more.

Cryptocurrencies are getting more and more popular, so the idea of ​​incorporating them in everyday life is essential.
There may be some legal problems (if any) when the government does not accept it, as in the case of china.
But we still have to accept the fact that it is still being accepted on a daily basis, and let's try to use them more in life if we can.

[kotajikikox]

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 have decide the moment you posted this because year after the value of Bitcoin is not more than 10x and you have earned multiple amount to this day or much more back in July.
some businesses that agreed on this matter back then are now enjoying their advantage and this is a must to consider also in the future .

i think you should try this, because it can give your store a more diverse type of customers, because this will also be a type of advertisement for your store because more people will tend to buy at your store, especially the ones that have cryptocurrency on them. this will be a great addition to your store and will help you expand more.

it has been posted almost 2 years ago so Im sure either OP  had already did or decide not to .

but this is indeed an advantageous if he made a decision that day.

[magnum1010]

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

Many companies adopt crypto to their business today, it is a good sign for crypto. I don't think that there are risks of such way to receive the payment. But you are to set the automatical price recalculation based on Bitcoin's price. What comes to commissions, they are not very high, but it can take long for transaction to be processed by miners
Anyway, you can use two ways of receiving the payment: both in fiat money and in bitcoin so that people who don't work with crypto also can buy in your shop.

[iTradeChips]

Well, satoshis would be the good term to use if somehow many establishments decides to adopt Bitcoin as a mode of payment. I just can't imagine how can they solve the price fluctuations when pricing their goods and services. If the cryptocurrency has a steady price then it is possible that it would be very easy for merchants to price their goods in Bitcoin or any cryptocurrency they wish to use. But right now, volatility I think is a big obstacle in making that happen.

[Crptomagma]

Bitcoin is a digital currency so if you want to include it in your payment method it’s cool. The more payment method the better for your business to expand, its part of capitalizing on crypto to function well in your area of business. Just be ready to educate people about bitcoin and how operate digital wallets. Then also be strong enough to bare the volatility of bitcoin.
You’re a great bitcoin enthusiast and I wish you best of luck in your business.

[Rampagoe004]

With the development of the crypto world today, it is better to add payment methods in your online store, because for now people already have many ways to get the goods they want to buy in online stores, if you have designed well using payment methods using bitcoin or altcoins then there is no harm in trying, If it has been running for several months, there must be a development especially for now there are many people who have used crypto wallets so it is very easy to make transactions.