Reason why businesses should accept Bitcoin payment

[dunfida]

in the future, for sure all businesses will adopt crypto payments but we must also be aware that the volatility of the bitcoin price will make many businesses owner add other options for payment via other cryptos besides bitcoin payment

When more number of people and business will be adopting bitcoins then there will be a possibility for having less volatile in bitcoin markers. It means bitcoin may rise up over the time due to its limited supply but the domination of beer markets might get diminished when more people are participating in one or other way.

When bitcoin will be having slow and steady bull market and very rarely bear market then merchants will love it to be accepting for their businesses.

Maybe not all businesses, but a lot of them will accept in the future. Not only bitcoin but other good alts for payment method like XRP, TRX or LTC, which incur very minimal transaction fees. A lot of btc holders up until now don't want to spend their satoshis because for the hope that it will gain massive value in the future. But some are already trying to spend their satoshis when they feel it is more convenient for them to pay via btc. Whereas, for businesses, the volatility issue is still their issue why some are still hesitant, but other merchants are now accepting for the same reason. We can't expect them to have the same preferences towards this matter. But the adoption is increasing every day.

Nothing is guaranteed when we do talk about future whether most of them accepting Bitcoin payments or would remain still on what they do have now in terms of payment options.Not all merchants would really be that having positive insights towards Bitcoin or crypto as a whole.

They dont like for their stable profits to be affected by volatility which means they would really be hesitant on that part which isnt really that
surprising.Some of them are still observing.

If there would be some sudden influx of numbers of merchants adopting bitcoin or crypto then they might be considering on joining the bandwagon.

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[2double0]

in the future, for sure all businesses will adopt crypto payments but we must also be aware that the volatility of the bitcoin price will make many businesses owner add other options for payment via other cryptos besides bitcoin payment

When more number of people and business will be adopting bitcoins then there will be a possibility for having less volatile in bitcoin markers. It means bitcoin may rise up over the time due to its limited supply but the domination of beer markets might get diminished when more people are participating in one or other way.

When bitcoin will be having slow and steady bull market and very rarely bear market then merchants will love it to be accepting for their businesses.

If movement of btc skyrockets among merchants, businesses and consumers, we will see volatility increasing more instead of getting reduced and balanced because with btc purchases from consumers' end, merchants and businesses will also sell their btc at month end or some time in future to keep balance between fiat-crypto. This will add additional instability to the already volatile bitcoin and may businesses decide to keep btc, it does not keep going up so if it drops, those businesses will also suffer so they will need to maintain the balance.

I have an argument here - if they (businesses) were to accept btc, they would have started to accept gold or platinum or even petrol against their goods or services because these things have a tangibility value.

[carrigan]

Using Bitcoin as a means of payment in business is a good thing. Bitcoin makes transactions faster and easier. Many people have used Bitcoin as a means of payment and they are satisfied with the sophistication of Bitcoin. Especially for a Bitcoin trader or investor you don't need to convert Bitcoin into fiat to pay because Bitcoin has been allowed directly as a means of payment.

[V-t.Ester]

Frankly speaking I doubt that BTC is good for business. Its volatility is very high and no one cool analytic can predict the depth and time of its growths and falls. Moreover, if the company will receive some amount of money in BTC and then the price will suddenly fall and the same thing will cost more BTC, so the company will be in minuses. How to cover huge damage if BTC will suddenly fall on 20-25 thousands, for instance (sometimes new increase happens only in several months) ? What to do with salaries: to pay fixed price in dollars or in BTC? I’ve mentioned only some problems. There are a lot more of them. Business will suffer and even bankrupt if it always face this. Think it’s very hard to make business always using BTC as a means of payment.

[Shasha80]

in the future, for sure all businesses will adopt crypto payments but we must also be aware that the volatility of the bitcoin price will make many businesses owner add other options for payment via other cryptos besides bitcoin payment

When more number of people and business will be adopting bitcoins then there will be a possibility for having less volatile in bitcoin markers. It means bitcoin may rise up over the time due to its limited supply but the domination of beer markets might get diminished when more people are participating in one or other way.

When bitcoin will be having slow and steady bull market and very rarely bear market then merchants will love it to be accepting for their businesses.

Maybe not all businesses, but a lot of them will accept in the future. Not only bitcoin but other good alts for payment method like XRP, TRX or LTC, which incur very minimal transaction fees. A lot of btc holders up until now don't want to spend their satoshis because for the hope that it will gain massive value in the future. But some are already trying to spend their satoshis when they feel it is more convenient for them to pay via btc. Whereas, for businesses, the volatility issue is still their issue why some are still hesitant, but other merchants are now accepting for the same reason. We can't expect them to have the same preferences towards this matter. But the adoption is increasing every day.

Nothing is guaranteed when we do talk about future whether most of them accepting Bitcoin payments or would remain still on what they do have now in terms of payment options.Not all merchants would really be that having positive insights towards Bitcoin or crypto as a whole.

They dont like for their stable profits to be affected by volatility which means they would really be hesitant on that part which isnt really that
surprising.Some of them are still observing.

If there would be some sudden influx of numbers of merchants adopting bitcoin or crypto then they might be considering on joining the bandwagon.

We all will never know what will happen in the future, but we all want to hope for positive things that will happen. I really hope that business owners
can start learning about Bitcoin, so that they can at least know the benefits of Bitcoin, and is expected to adopt Bitcoin. But because Bitcoin also still
has some drawbacks, that's what some merchants are considering when adopting Bitcoin. I believe the price of Bitcoin skyrocketed this year,
has its own charm to make some merchants accept Bitcoin payments. It is profitable for merchants who have decided to adopt Bitcoin if Bitcoin
continues to rise in price, and if we look at the popularity of Bitcoin which is indeed increasing, Bitcoin is probably still in a bullish trend at least
until mid-2022.

[rizqoAD]

I think a business with Bitcoin payments is more profitable than traditional payments, besides we benefit from our business, we also benefit from the increase in the price of Bitcoin so the profits are also many times. There may be very few companies paying with Bitcoin right now, but as time goes on, I think Bitcoin will become a paper money-like business payment in the future. Bitcoin fluctuations also cause losses if we cannot manage them, so we must be able to manage the Bitcoins that have been obtained.

[7788bitcoin]

I think a business with Bitcoin payments is more profitable than traditional payments, besides we benefit from our business, we also benefit from the increase in the price of Bitcoin so the profits are also many times. There may be very few companies paying with Bitcoin right now, but as time goes on, I think Bitcoin will become a paper money-like business payment in the future. Bitcoin fluctuations also cause losses if we cannot manage them, so we must be able to manage the Bitcoins that have been obtained.

If i am in a physical stores why would i use any payment method that has a fees attached to it when traditional payment system does not have any transaction charges attached. Have some logic, if i am making an online transaction i am more than happy to use cryptocurrency to safeguard my privacy and moreover i am not comfortable using my credit card when making online transaction due to security reasons.

[Ziskinberg]

I think a business with Bitcoin payments is more profitable than traditional payments, besides we benefit from our business, we also benefit from the increase in the price of Bitcoin so the profits are also many times. There may be very few companies paying with Bitcoin right now, but as time goes on, I think Bitcoin will become a paper money-like business payment in the future. Bitcoin fluctuations also cause losses if we cannot manage them, so we must be able to manage the Bitcoins that have been obtained.

It has to understand that prices are unstable which gives a reason why merchants aren't yet fully embracing the use of crypto but instead of considering this as an investment. As a business owner, it is really risky on our side, price fluctuations come anytime and this could create losses unless if we just hold and never spend them but that is impossible when we are in business.
But I believe that this come to realization and Bitcoin become an alternative online payment to major establishments. It was not necessary to hurry, yet we need to plan it so well rather than regret it later as there are a lot of things to prepare before accepting it.

[Olafimihan1986]

Yes, the adoption of cryptocurrencies most especially Bitcoin for payment by all businesses is a good idea because it is more reliable, transparent and secure than the traditional or Fiat payment system but the disadvantage is that it is not a stablecoin that is, it has a fluctuating price which is affecting its total adoption by merchants and also, it has a huge transaction fee attach to it when whenever you make use of Bitcoin for payment which is not so for Fiat.

[cabron]

Some industries are still in shock as to which way to go even when some of them are accepting BTC already. Take for instance the Webhosting business which some of them are accepting BTC, the majority I believe had not been doing so.  What is worse in thier business is that IPFS (peer-to-peer storage system) is sort of a threat.

Some businesses also think they are already late in adopting because the bull run may be over at any moment. 

[Stalker22]

Some industries are still in shock as to which way to go even when some of them are accepting BTC already. Take for instance the Webhosting business which some of them are accepting BTC, the majority I believe had not been doing so.  What is worse in thier business is that IPFS (peer-to-peer storage system) is sort of a threat.

Some businesses also think they are already late in adopting because the bull run may be over at any moment. 

This might be a general perception among investors but I don't think it could be a reason for business not to accept BTC payments. I think a lot of companies are still debating on which way to go, as is the case with the company I work for that accepts BTC payments only as a trial but has not officially launched full-fledged BTC payment system yet.

The main reason is their managers are not yet sure about accepting BTC, let alone integrate it into their business. I am actually the assistant for the CEO and I think the decision to allow BTC payments is based on the expectation of better future revenues for a business after they will start using BTC for payments.

Most of the executives are said to be interested in Bitcoins and are willing to accept them because of that. I personally think a lot of things should be made to work first before they will be used for purposes they were intended for. For example, in the business to business sector (B2B), it would be ideal if a business could use a medium to transfer money worldwide instantly without going through a long payment chain like the usual fiat system. Without being able to make any such system exist for a long time, a lot of businesses won't have an incentive to adopt BTC.

I think the major problem for the industries, and even the economy, is lack of rapid technology adoption.

[Ebede]

My own reasons why business men and women should accept bitcoin for a payment is because bitcoin have become one of the fastest way of payment without demanding of particular bank details and easy stress of bank verification, and this period you can pay your bills or import your business from any country and pay with bitcoin in your country easily without stress, all this can happen when both parties agree payment transaction with bitcoin.

[cheezcarls]

The only downsides of BTC being accepted as mode of payment are the market volatility and the delay of confirmation (unless they’re using Lightning Network like El Salvador did). It’s what other merchants are still hesitant of implementing BTC as an alternative payment option. Just an opinion.

[Crptomagma]

That’s true I agree with that. Bitcoin should be accepted as a means of payment and in some stores they accept bitcoin already. I believe the us of bitcoin in any sector as a means of payment will make payment flexible with minimal charges and less stress from unnecessary protocols like that of fiat payment. It’s also important to note that some organizations are still skeptical about the adoption of bitcoin as a means of payment in their organization because of its volatility nature. It’s either goes up or down, when it’s up the organization smiles but when it down they cry.

[Tellek Garing]

Currently bitcoin is a trend and is in demand by investors, even during the pandemic which makes many businesses and investments die, bitcoin continues to increase, many reports state that the rapid development of bitcoin because it comes from millionaires and global companies who invest so that to make the business more developed it is mandatory to accept bitcoins.

So many bitcoin features made it the most favorable option when it comes to payments, and many business have build knowledge over the years with the advantages of bitcoin as payments for good and services.

[jostorres]

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.

That’s true, companies that are accepting cryptocurrency’s payments are also making an investment, because when they accept cryptocurrency to their wallets as time goes on the asset continues to increase in value, which means more income for the company. An example of this is Tesla, we can remember that  they invested in Bitcoin earlier and after some time,when the price of Bitcoin increased in value they were able to make lots of profits from the investment they have made.

And it doesn’t only benefit just the company, it will also benefit the employees who are receiving their payments as cryptocurrency,'cause that as well is going to mean more profit for them as time goes on. So, the idea of companies accepting crypto is really good and should be accepted.

[Alanaz]

Frankly speaking I doubt that BTC is good for business. Its volatility is very high and no one cool analytic can predict the depth and time of its growths and falls. Moreover, if the company will receive some amount of money in BTC and then the price will suddenly fall and the same thing will cost more BTC, so the company will be in minuses. How to cover huge damage if BTC will suddenly fall on 20-25 thousands, for instance (sometimes new increase happens only in several months) ? What to do with salaries: to pay fixed price in dollars or in BTC? I’ve mentioned only some problems. There are a lot more of them. Business will suffer and even bankrupt if it always face this. Think it’s very hard to make business always using BTC as a means of payment.

apart from their volatility, they are also difficult to control and this I think will be a bit detrimental if you want to continue doing business through btc.
their prices are very volatile and hard to predict this will make the business a risky one to do.
on the other hand, no one can really guarantee that btc will always go up and stay in a stagnant price because there is always a correction.
so I think it would be very reckless to use btc as the main source of business funding.

[TinaK]

Currently bitcoin is a trend and is in demand by investors, even during the pandemic which makes many businesses and investments die, bitcoin continues to increase, many reports state that the rapid development of bitcoin because it comes from millionaires and global companies who invest so that to make the business more developed it is mandatory to accept bitcoins.

So many bitcoin features made it the most favorable option when it comes to payments, and many business have build knowledge over the years with the advantages of bitcoin as payments for good and services.

I hope all of them are open-minded when it comes to bitcoin have a downside, as we know, not all the time bitcoin is always on the top and the price could be down any time soon and that is the problem if they don't understand. The volatile nature of crypto could the price possible up and down and there is no permanent price increase. Businessmen should understand this first.

But overall the acceptance of bitcoin in your business as a mode of payment is a good idea and it could have a lot of benefits. Besides on that, you are helping bitcoin itself to increase the price.

[qwertyup23]

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.

Would it be possible if you could please elaborate on how it could save you stress and unnecessary charges?

As far as I know, every transaction involving BTC has a transaction fee that costs north of $6-$10 depending on the price of it on the market. In addition, transacting via fiat is convenient due to its simplicity and straightforward use. The problem with transacting with BTC is the eligibility and legality of it on a country. If the government prohibits the transacting of such, then you are compelled to use a mixer in order to avoid getting tracked.

While this may be true, BTC should be made available as an option to most businesses as a form of payment. The possibilities are endless and it would bring more exposure to BTC and about its current use.

[Rahman11]

Reasons of Why Your Business Should Accept Bitcoins
Cost. Credit card fees usually run around 2-3%. ...
Safety from Fiat Exchange Rate Risk. Bitcoin is certainly volatile. ...
International Sales. ...
No Chargebacks. ...
Ease of Use. ...
Publicity. ...
Cutting-Edge and Forward-Thinking Brand Identity. ...
Speed.