Reason why businesses should accept Bitcoin payment

[Oasisman]

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

Absolutely! That's the main problem for businesses that plans in accepting Bitcoin as a payment.


The success of business relies on how a businessman roll his profit and expand his service/products and the business in general. Now, what If Bitcoin remains at a lower price and the businessman run out of products and needs replenishment?
Does that mean he'll use his own pocket or sell even if it means a loss?
Well, I guess big businesses can do that, how about the start-ups?

[1714244785]

1714244785

[1714244785]

1714244785

[1714244785]

1714244785

[1714244785]

1714244785

[1714244785]

1714244785

[traderethereum]

If that company can accept bitcoin, that will provide new innovations from the company and if they succeed in doing that, their rival will try to follow that company.
But before a company accepts bitcoin as a payment system, they need to know and be aware that bitcoin prices will always be volatile and change day by day.
If they can realize that, they will not panic when they use bitcoin as payment because, in the future, the bitcoin that they have will give them a big profit if they convert into fiat.
The benefit is when the bitcoin price is down, their customer will pay more bitcoin, so they will have a chance to accumulate bitcoin in their wallet.

[Wildwest]

For now many large companies that already know the performance of bitcoin and they want to use bitcoin as a means of payment in the company have a strong reason, one of which they easily know every spending transaction that occurs and also bitcoin is decentralized so it is very compatible with the company's business, but when bitcoin is experiencing this decline will also be a problem for the company then using bitcoin in every company. It's a consideration for now.

[Dhoe]

When it comes to marketing strategy, nowadays it's important that you think ahead, and start recognizing the potential of Bitcoin and incorporating it into your business' payment system. Embracing the power of new technologies, such as Bitcoin, will show your prospect's customers that you're always following the big thing in the world. the world of business and modern technological advances. The industry you run by accepting Bitcoin, could just put you in a more successful position.

[cotton ball]

the reason companies accept bitcoin is that as a way of paying in business, it can be a solid and promising market today. This is predicted to pave the way for you to face competitors and improve your business performance. We must keep up with the times, we must dance according to the musical instruments being played.

[Sanitough]

There advantage in accepting bitcoin, and that is the company will be able to gain more customers especially if they also offer business outside of the country, it's very useful especially for online stores and online gambling as well. Actually, they can just add bitcoin as their payment system to their current payment system, it's not that hard, and as long as they know how to manage the risk of volatility, I think bitcoin will be an effective currency for their business.

In addition, the government has to be friendly with crypto so they will regulate it fairly, that's actually the most important thing as businesses are regulated by the government.

[Fortify]

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.

It seems to heavily depend on the country and the products being sold as to how much benefit a business will get from accepting Bitcoin. If you're in Germany for example, the overhead costs involved with accepting it for someone buying a can of drink in a shop is probably not worthwhile. However if you're buying a big ticket item like a car or a kitchen, then that business should be as accommodating as possible to all payment methods if they end up with the same payment at the end of it - the fees almost become insignificant. Bitcoin is not a "business within a business", it is a currency used to trade. The blockchain is also just a ledger, much like a bank would have a database of all their transaction activity.

[RILWAN]

There advantage in accepting bitcoin, and that is the company will be able to gain more customers especially if they also offer business outside of the country, it's very useful especially for online stores and online gambling as well. Actually, they can just add bitcoin as their payment system to their current payment system, it's not that hard, and as long as they know how to manage the risk of volatility, I think bitcoin will be an effective currency for their business.

In addition, the government has to be friendly with crypto so they will regulate it fairly, that's actually the most important thing as businesses are regulated by the government.

Bitcoin gateway has a tremendous advantage for new start businesses as it will help build its capital in the long run, if the price of the asset goes up. But again, we must also identify the risk that is involved in this type of payment. But in all business is all about risk-taking.

[dupee419]

Why not? it's actually an advantage for everyone, I would personally be glad to accept BTC as a form of salary, the only downside I can see is that if the value becomes bearish, other than that, if the price is going up, and so does our salary.

Start-ups that will be taking Bitcoin as a form of salary is a good investment, the fact that they can also gain profit from this is a good idea, both ends will actually get profit.

[cryptoaddictchie]

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

So how about the downside? You cant expect only capital gains are in the process. You should also take into account those scenario where bitcoin experience a huge slump. Yes that could also be a factor of going down and totally loss instead of gains. Bitcoin is good type of investment but we must also see its negative impact on some other variables.

[yazher]

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.

It is obvious if you look at how the other companies adopted the new revolution and continue to develop their companies with it, they will remain and stay with a high rate of a stable economy. Now that we already have bitcoin recognized with a high number of trusted companies all around the world, it's better that they think of ways to adopt or make develop something so that their companies will accept it and be one of those companies to become successful in the future.

[yhiaali3]

It is difficult to say that Bitcoin is suitable for fast business and daily payments due to the problem of delays in transmission time and high fees and also due to its high volatility, but in the long run Bitcoin is a very successful investment and also because of its other great features such as decentralization, store of value and use as a hedge all of this makes Bitcoin a valuable Great value and if the delay and high fees are resolved, bitcoin will replace fiat money in the future.

[michellee]

There advantage in accepting bitcoin, and that is the company will be able to gain more customers especially if they also offer business outside of the country, it's very useful especially for online stores and online gambling as well. Actually, they can just add bitcoin as their payment system to their current payment system, it's not that hard, and as long as they know how to manage the risk of volatility, I think bitcoin will be an effective currency for their business.

In addition, the government has to be friendly with crypto so they will regulate it fairly, that's actually the most important thing as businesses are regulated by the government.

Bitcoin gateway has a tremendous advantage for new start businesses as it will help build its capital in the long run, if the price of the asset goes up. But again, we must also identify the risk that is involved in this type of payment. But in all business is all about risk-taking.

With the volatility of bitcoin price and time-consuming to get confirmation from the transaction, it seems bitcoin is not recommended to be the payment method because when you pay using bitcoin, both customer and seller need to wait for 1 confirmation. Although when you click the send button, the transaction will get confirmed later. But sometimes, the customer does not want to wait too long to see it's completed.

Maybe the companies can use bitcoin for their employee as the saving or the investment from their salary and use some percentage from their total salary and send it into bitcoin.

[noorman0]

As long as you understand bitcoin's characteristics and the volatility risks that affect your business, that's fine. There are various drawbacks that lead to skepticism about bitcoin's acceptance, especially if it is adopted by retail-scale businesses. I will talk about the facts about the protests of Elsalvador citizens who know the government's first rule (art.7) that requires all economic agents to be able to accept bitcoin.

Business in Elsalvador can be a reference forecast in the case a company wants to adopt bitcoin.

[blatchcorn]

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!

That's the primary reason why third parties backed by governments are mostly against this system. Bitcoin is breaking the monopoly and abuse of customer carried out by banks for decades. I don't believe that btc coming from centralized exchange is really bitcoin, since that's killing the purpose of decentralisation.

[Farma]

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.

however, there are many advantages if a company accepts bitcoin as their medium of exchange, and the most perceived benefit is expanding consumers from all over the world. we know that bitcoin has a decentralized and P2P system. So, you can sell what you have all over the world. it is the most tangible and great advantage.
The other advantage is like you said, that if the price goes up, the assets will increase. however, vice versa.
however, not all countries allow this. some countries have regulations regarding payment instruments in their country. however, if your country has a permit for it, then you can expand the business you have.

[nira09]

When a company/business accepts Bitcoin, it will indirectly make friends with the Bitcoin community and have new users/customers from the already very large Bitcoin community.
If it's an export/import business, then transactions using Bitcoin are very helpful in speeding up payment transactions.

[GeorgeJohn]

Globally before you see a country that accept bitcoin for any payment system is very strenuous or arduous to indicate because at least hundred percent of the countries out of seventy five percent of the countries don't accept or adopt bitcoin as payment system instead of fiat currency, but it's good idea and reasonable enough if some entrepreneurs or traders enroll into bitcoin payment system if really the government of their country will adopt bitcoin, because right now i know that different countries government dislike bitcoin, so from my perspective it will take like period of time before cryptocurrencies which we officially know the head as bitcoin been generally adopt by different countries as means of exchanges in equivalent with fiat currency.

[dansus021]

first come to my mind is flexibility so user or buyer can choose between fiat or crypto

supporting crypto as the payment of future    and if the owner shop want to hodl it can become interest and benefit to owner

[Vaskiy]

first come to my mind is flexibility so user or buyer can choose between fiat or crypto

supporting crypto as the payment of future    and if the owner shop want to hodl it can become interest and benefit to owner

Business platforms and consumers will get an alternate option. In reality even with the digital payment applications and other payment gateways like credit/debit cards, business people are more satisfied. So, if bitcoin can bring in something unique to the market it'll easily grab the attention.

The most important thing I believe on the need for bitcoin acceptance is the upcoming digital generation. The future generation will be much dependent on technology. By the time cryptocurrency will get priority among that generation.