Reason why businesses should accept Bitcoin payment

[Minecache]

So, volatility is the main problem here.
If you want to take some big facilities, you must have to miss some little facilities.
I work in a multinational company, I get my salary in the first week of the month. On receiving the salary usually, I buy bitcoin/altcoin immediately with some part and I keep the rest for my expenses. I don't sell my holdings until it reaches my expected target, it gives me a passive income.

So if companies really want to adopt Bitcoin, initially they can pay half payment in Bitcoin and half payment in fiat money until the employee is fully educated with the functionalities of Bitcoin, it can be a solution, Those who had problems with volatility will no longer have any complaints. Many people do part-time jobs in Upwork & this forum, the employer gave the payment in bitcoin/other coins, In this case, the employees do not have any complaints because they know the functionalities of Bitcoin and know how to make a profit from Bitcoin.

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[Tellek Garing]

So if companies really want to adopt Bitcoin, initially they can pay half payment in Bitcoin and half payment in fiat money

But even if the full payments is in bitcoin the company can convert it to fiant at any point instead of receiving half payment in bitcoin and another half in faint paper money which can result into double transaction fees from the customers.

[yohananaomi]

those who already know the benefits of bitcoin will obviously not hesitate to accept payments using bitcoin. but not all of them already understand to be able to do that, so it may not be effective in the implementation that will be carried out.

it is clear that management does not want to accept payments using bitcoin if not many are using it, because it is clear that it will make implementation more complicated, because there will be many options that occur.

if many use bitcoin payments, it is clear they will benefit because at the same time they can make investments that might make bitcoin acceptance even more profitable because the price increases. all options can happen because not all countries or institutions can and are able to run it (accept payments with bitcoin).

[zaesvlas]

Should everyone introduce such an opportunity? As for me, this is really important and useful, but it may not be useful for everyone.

[DewiKirana]

The reason the company accepts payments using Bitcoin because of its anonymity is very reasonable, because many of the customers who want to maintain the privacy of their identity like me.
Another reason companies accept Bitcoin can also get the difference in profit from every payment made by customers, this difference in profit can be obtained when the price of Bitcoin rises.

[19Nov16]

Bitcoin users continue to rise significantly, during the pandemic many types of investments die but bitcoin and cryptocurrencies show amazing performance so bitcoin deserves to be the best investment today, accepting bitcoin for business will make consumers increase drastically.

[Maidak]

Bitcoin users continue to rise significantly, during the pandemic many types of investments die but bitcoin and cryptocurrencies show amazing performance so bitcoin deserves to be the best investment today, accepting bitcoin for business will make consumers increase drastically.

In the ongoing COVID pandemic, most investors predict there would be worldwide inflation. Because of this fear, they converted their fiat money and increased their investment in Bitcoin & cryptocurrency. That is why the price of Bitcoin has continued to rise despite the terrible epidemics around the world. And according to the predictions, The post covid situation is constantly taking terrible forms, now there is inflation around the world, oil prices have risen in the international market. Maybe the situation could be more extreme, the price of fiat money could go down further. but ignoring everything, the price of Bitcoin continues to rise.

[romero121]

• Cross border transactions can be made with ease
• With time the market keeps growing, so what we generate as profit through the business will grow further when the same is kept hold in terms of bitcoin
• Businesses always need to be updated, even the common man have started to make use of digital payments. So, thinking the future generation accepting bitcoin at present is good
• We've got more user friendly payments access on traditional fiat. However having an alternate is always good, because we don't know which customer is gonna prefer which payment method

[A BLackPearl]

It is good for the company, but for the employees, I am opposed to it. It is inconvenient for me if the price of Bitcoin decreases after I get Bitcoin, or I want to buy another cryptocurrency.
For companies, they can accept Bitcoin to pay their salaries, allowing employees to choose whether to use Bitcoin as a reward. In this way, the problem of the decline in the price of Bitcoin after employees are paid in Bitcoin will not be considered, and employees who use legal currency can also receive legal currency compensation.
I think this is more convenient. It is not mandatory for companies to fully accept payments in cryptocurrencies.

[bosede1]

I really love this that Bitcoin is a business within a business which is absolutely correct. This is what most people are missing from especially the government of my Country restraining people to achieve business in business.

[MrcMrc]

Should everyone introduce such an opportunity? As for me, this is really important and useful, but it may not be useful for everyone.

You are right on this, not everyone will want to pay using bitcoin for every little transactions. Most of the elderly will not want to border themselves with the trouble of having to understand the technique of the bitcoin network.

[Lanatsa]

• Cross border transactions can be made with ease
• With time the market keeps growing, so what we generate as profit through the business will grow further when the same is kept hold in terms of bitcoin
• Businesses always need to be updated, even the common man have started to make use of digital payments. So, thinking the future generation accepting bitcoin at present is good
• We've got more user friendly payments access on traditional fiat. However having an alternate is always good, because we don't know which customer is gonna prefer which payment method

That's the pro's then lets talk about its con's.

- Tendency of negative profits when the market tends to make out some u turn
- Legal issues
- Security issues itself
- Not really that much familiar

There would really be some sort of questions on mind would be made but if you do really tend to compare or making
it neither it outweighs the positive on negative then it is really considerable.

[dark1234]

anything that is profitable will become a business and this is the basis in the economy including bitcoin which has value and offers benefits to those who own it because basically a business is a business is an organization or economic system where goods and services are exchanged into other forms or in the form of money . Every business needs sufficient investment and customers to sell its output at a certain quantity to make a profit.

[dimox]

good idea, the problem is people still dont know about bitcoin, and prefer to keep it until the price good enough, sell for be riches.
in small village, its hard to implement this idea, good method but none want to act is nothing. hard to explain them from beginning, or just wait until time show this stuff to them.

[deadmousehat]

if i had my own business i would do it. Accepting payments with bitcoins is currently a great move and can earn more profit from bitcoins. but first they have to have a strategy in case the bitcoin price goes down. but not all business people believe in the future of bitcoin or are afraid to lose when the price falls

[Abiky]

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.

Volatility is the least thing businesses should worry about, since they can easily cash out BTC to Fiat. There are payment gateways which instantly convert BTC to Fiat at the current exchange rate. If that's not enough, businesses can accept stablecoins as payment method in order to gain the benefits of crypto/Blockchain tech and the stability of Fiat. There's simply no excuse to avoid accepting Bitcoin as payment method.

I think the reason why most businesses haven't done the move is because of fear from the government. Regulations in some countries are strictly fierce against crypto/Blockchain tech, so this scares away many businesses from accepting Bitcoin as payment method. Crypto may have numerous benefits, but it's highly risky. As more governments legalize Bitcoin, more businesses will join the game. Who knows if someday big retail stores like Walmart and Amazon adopt Bitcoin as payment method? Just my opinion

[galambo]

Volatility is the least thing businesses should worry about, since they can easily cash out BTC to Fiat. There are payment gateways which instantly convert BTC to Fiat at the current exchange rate. If that's not enough, businesses can accept stablecoins as payment method in order to gain the benefits of crypto/Blockchain tech and the stability of Fiat. There's simply no excuse to avoid accepting Bitcoin as payment method.

If you have to convert btc to Fiat instantly then why not proceed with centralised Fiat payment system that is trusted by businesses world-wide. Businesses with low turn over (that doesn't fall under government regulations) may accept btc payments if issue of volatility and scalability are resolved.

[ropyu1978]

Of course, this is not an easy matter in that it certainly has to go through a very long process considering that currently bitcoin has not been widely adopted so it is very difficult to make payments using bitcoin in the form of business investments.of course it requires some appropriate steps to implement this because this must be done. get approval from both parties for the transaction process

[Ebede]

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.

If we are to accept bitcoin for payment of bills is every country that will accept such, because right now too some countries is making payments with bitcoin which i know that is not everybody that is paying with bitcoin, i just try reason this and i normal point bitcoin payment will be fast if its accepted but the charges will go higher so i think many people will prefer the old fiat than making payments with fiat.

[leea-1334]

Volatility is the least thing businesses should worry about, since they can easily cash out BTC to Fiat. There are payment gateways which instantly convert BTC to Fiat at the current exchange rate. If that's not enough, businesses can accept stablecoins as payment method in order to gain the benefits of crypto/Blockchain tech and the stability of Fiat. There's simply no excuse to avoid accepting Bitcoin as payment method.

I think,,, you should ask businesses if volatility is important or not.

Why do 90% of merchants who accept Bitcoin only accept fiat settlement as you say? Because of volatility! That means they use stuff like Bitpay,,, which actually means merchants do NOT have Bitcoin wallets. You pay with BTC, Bitpay changes it to fiat and gives it to the merchant. So this really means they are not even accepting Bitcoin,,, just letting people pay with Bitpay or whatever gateway.

Guess how much fees they have to pay to accept that. And have you seen Bitpay's fees to you as a user? You actually sometimes have to pay more to use Bitcoin.

And then refund. What happens if you paid 1 btc when price was 60k and then when customer request refund of 1 btc, but price is 70k? Bitpay will bill the merchant the new price, probably worse rate than spot!

Of course volatility is a huge factor for business