Reason why businesses should accept Bitcoin payment

[RILWAN]

Haven't spent some hours thinking about the advantage that is associated with Bitcoin in company ecosystems, new start-ups that are located in crypto-friendly countries are now diving into Bitcoin as payment against the regular faint traditional currencies, after administering questionnaires to some of the business CEOs stated the reason to be the anonymous nature and its intrinsic value. That is to say, Bitcoin is a business within a business because of its decentralized nature and volatile market.
So the company gain in two ways for accepting bitcoin for payments and if the price of bitcoin goes upward interest are generated also.

[Alisha-k]

I totally agree with this, accepting Bitcoin in buisnesses today should be one of the biggest things that'll happen in the economy, it saves you so much stress and unnecessary charges that would have been made using FIAT.

[adzino]

It's easy to use. You have control over everything. You can easily track all your transactions and lets not forget, all transactions are public. You don't have to go through a lot of paper works and you skip all the inconveniences that you have to face when using a third-party centralized financial institution (banks). Users can send or pay right away without having to go through multiple random checks. So many reasons why businesses should start accepting bitcoin as payment.

So the company gain in two ways for accepting bitcoin for payments and if the price of bitcoin goes upward interest are generated also.

Don't forget, the price can drop too!

[vv181]

Do note that the company needed to run their own node to achieve the decentralized nature, if they are using the third-party payment gateway, they are not truly achieving decentralization. The volatility is also a double-edged sword for the company, some might want to store the payment in crypto, on another hand, some needed fast cash to operate it.

I do not imply and discourage its hard for businesses to accept Bitcoin. As a matter of fact, there is some payment gateway that has a FIAT conversion feature to mitigate volatility. My take is, whether a business accepts Bitcoin payment or not, it's a multi-variate problem that needed to be solved by the company self-interest. Not to mention, in some countries, regulatory issues are the obstacles.

[verita1]

I agree, OP. Businesses should today start accepting bitcoin and cryptocurrencies taking advantage of the opportunity if their nations are friendly with cryptocurrencies.

It is a change that is inevitable because just as large technology companies were born, so it will happen with bitcoin and cryptocurrencies that were adopted throughout the world.

It only remains for people to worry about learning about how bitcoin works and the benefits it can offer them in their economies.

[Desmong]

There is no doubt that very soon the Fiat method of running transactions will be gone making more persons to adapt to block method of running transactions. I can't just imagine how fast it was easy form to send money for someone that is more than 5k kilometers away from me and how easy it was without a third party making payments and transactions.

[dothebeats]

But there's still that looming threat of a possible value depreciation in bitcoin, hence why not a lot of companies or businesses have fully committed to accepting it on their platforms. Huge businesses and conglomerates can potentially accept bitcoin as a form of payment no problem as they can easily churn whatever losses they may incur on the bitcoins that they gain. Start-ups, on the other hand, do not have this financial capacity just yet, hence why them accepting bitcoin and crypto is not a good idea.

[nelson4lov]

Haven't spent some hours thinking about the advantage that is associated with Bitcoin in company ecosystems, new start-ups that are located in crypto-friendly countries are now diving into Bitcoin as payment against the regular faint traditional currencies, after administering questionnaires to some of the business CEOs stated the reason to be the anonymous nature and its intrinsic value. That is to say, Bitcoin is a business within a business because of its decentralized nature and volatile market.
So the company gain in two ways for accepting bitcoin for payments and if the price of bitcoin goes upward interest are generated also.

There's another way to look at this. Established companies or startups might be willing to integrate bitcoin to their payment systems and platforms but the jurisdiction that are in might not allow them to. So that's something should keep in mind imo. Its no longer news that adding bitcoin to a business has more pros than cons.

[Quidat]

I totally agree with this, accepting Bitcoin in buisnesses today should be one of the biggest things that'll happen in the economy, it saves you so much stress and unnecessary charges that would have been made using FIAT.

Yeah you could say its one of the advantage but take a look on the con's side when dealing with crypto.Its VOLATILITY and this had been the main reason on why we do see not so many merchants
are considering on accepting or integrating crypto payments on the business because of this sole reason and the next is about regulation.Not all countries does have positive views or treatment towards
crypto and as a legit physical business then dealing off with these things will really be putting you in doubt but well we are really heading there when it comes to recognition and adoption.

[Yamifoud]

If you've been aware of the volatility of the market, you can also think about the risk that want you to endure. To say it was convenient, easy, and fast transactions, no, it was not the real thing that happens. Delays always happen nowadays and much more for those who have an intermittent internet connection?
A lot of things why merchants or business owners are not accepting Bitcoin yet, they are worried about its volatility. They are in business and they wanted ROI assurance which is hard to make from this volatile market.

[livingfree]

Not all of the companies who has an idea of what bitcoin is have that type of mindset.

There are a lot of businesses that wants to assure that what they have should also be taken in value of cash and that's why they are not taking bitcoin as payment and they're good as is what is.

[oktana]

One of the reasons which people may not see is that accepting Bitcoin exposes you to more customers. If I want to buy a product and I see two stores, I'd rather patronize the guy who accepts Bitcoin. Maybe because I don't have enough cash, maybe because I find it credible that he is promoting Bitcoin, but somehow, I patronize that store.

[Kong Hey Pakboy]

One of the reasons which people may not see is that accepting Bitcoin exposes you to more customers. If I want to buy a product and I see two stores, I'd rather patronize the guy who accepts Bitcoin. Maybe because I don't have enough cash, maybe because I find it credible that he is promoting Bitcoin, but somehow, I patronize that store.

That is if there's more people there that uses bitcoin, what would happen if you're living in a poverty stricken area in your city? That's unlikely that people there are using crypto as a primary currency and they might not even know how it works.

[Rajamuda]

With all its advantages, of course Bitcoin is worthy of being a payment medium, especially if the price seems to show a more stable ATH.
Bitcoin is already in its increasing popularity until its value continues to increase, its role is getting better, it will definitely be responded positively by many other things, especially in terms of work and business. Well, it seems it is time that the world will be more closely related to Bitcoin.

[Assface16678]

Do note that the company needed to run their own node to achieve the decentralized nature, if they are using the third-party payment gateway, they are not truly achieving decentralization. The volatility is also a double-edged sword for the company, some might want to store the payment in crypto, on another hand, some needed fast cash to operate it.

I do not imply and discourage its hard for businesses to accept Bitcoin. As a matter of fact, there is some payment gateway that has a FIAT conversion feature to mitigate volatility. My take is, whether a business accepts Bitcoin payment or not, it's a multi-variate problem that needed to be solved by the company self-interest. Not to mention, in some countries, regulatory issues are the obstacles.

Good analyzation, for me, the business that will operate with btc as their second option of currency needs to understand the possible result of losing during operation specially in bullish day of trading it. But if the business has a good other income then saving btc for the future is also a great option for them. Either way, this will be an opportunity for btc to be recognized for those who dont know it yet.

[Jawadu]

Accepting Bitcoin as payment in a business is a good thing, though we have to remember there are two sides which are bullish and bearish. Maybe some businesses are afraid if they'll accept BTC as payment then it drops, but others have taken a risk to accept it and until now they've already made a profit because the price is not bad.

[Dhaniii]

Haven't spent some hours thinking about the advantage that is associated with Bitcoin in company ecosystems, new start-ups that are located in crypto-friendly countries are now diving into Bitcoin as payment against the regular faint traditional currencies, after administering questionnaires to some of the business CEOs stated the reason to be the anonymous nature and its intrinsic value. That is to say, Bitcoin is a business within a business because of its decentralized nature and volatile market.
So the company gain in two ways for accepting bitcoin for payments and if the price of bitcoin goes upward interest are generated also.

the reason is the same as the OP said. but a little addition because payment with bitcoin provides many advantages for the company.
first the value of the price of goods remains the same as the value of bitcoins paid.
secondly there is no need to charge a fee for depositing bitcoins in the wallet.
all three bitcoins have a good market value when the market price strengthens.
So by accepting payments with bitcoin the company gets double the profit.

[molsewid]

There's another way to look at this. Established companies or startups might be willing to integrate bitcoin to their payment systems and platforms but the jurisdiction that are in might not allow them to. So that's something should keep in mind imo. Its no longer news that adding bitcoin to a business has more pros than cons.

That's why legal adoption of bitcoin in every respective country will be a chance for those established companies or startups business to integrate bitcoin to their payment method because it is hard to implement such kind of payment systems if the country that they were located at are not open to accept bitcoin as a legal tender. I believe that today there were many business establishments and startups that was willing to add some payment method on their payment systems but still hesitant because of how government's responses to cryptocurrency.

[MrcMrc]

Global Bitcoin adoption is going to take a while to be achieved as the government will want something they can control, but some countries have a flexible law concerning Bitcoin and the business within that country are taking full advantage of that. Just as the thread creator stated they stand to enjoy several advantages compared to the old traditional payments.

[Zilon]

Accepting Bitcoin as a means of payment will solve the issues of monetary exchange across boarders but how about it's volatility we should also consider the market isn't stable as it has tendencies of appreciating in value so does it still depreciate. It should rather be a store of value other than a legal tender.

Let's assume one gets paid in Bitcoin and just after receiving their payment the price drops drastically the holder is left with two options either to wait until it rises again or transact at a loss. Remember Bitcoin doesn't have its own value it solely relies on fiat