Reason why businesses should accept Bitcoin payment

[jaberwock]

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.

Yes, it’s good for companies to adopt Bitcoin as a payment method, but I think anyone that’s considering Bitcoin should look at it two ways and make sure that they are using it in a way that it is not going to be affecting their business, because if they are not careful it can affect their business.

The price of bitcoin is volatile and that means that apart from the fact that you can gain from the market, you’re also running the risk of losing money and it affecting your business at that point. So accepting bitcoin requires proper planning, in a way that if the price goes down, your business won’t be affected. But I think Companies that do accept it now will benefit long term.

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[MrcMrc]

Most modern businesses are adopting Bitcoin because of its speed and borderless ability to without the involvement of a third party, and also those businesses stand the chance to gain from the profits if Bitcoin price rise within that period their holding it.

[markdario112616]

The thought is good, but let's see the practicality of it. Bitcoin's market is so volatile that any time the value may drop which can cause a loss of revenue to a business, that's just one factor. Let's go to the legality, A Legitimate business needs to file Taxes and submit audit reports. How would one business will be closed its book when there are unallocated revenues? Namely Bitcoin per se (I'm talking about it based on our country's laws), so yeah given the scenario in which, Bitcoin is not recognized yet as a currency or can be made as mode of payment, this will literally be floating on the balance sheet. Not unless, one will be able to hide, but once caught probably Business will close down and eventually all parties involved will held liable.

[Mamun74]

I Think it will be easy to use for everyone. Bitcoin is digital crypto. Already many companies accepted bitcoin and they invested also I Think it will be accepted all bossiness companies.I think people will their money convert to crypto in future.I Think it will be fine and beautiful and more interesting.

[milewilda]

I Think it will be easy to use for everyone. Bitcoin is digital crypto. Already many companies accepted bitcoin and they invested also I Think it will be accepted all bossiness companies.I think people will their money convert to crypto in future.I Think it will be fine and beautiful and more interesting.

We are really heading there but dont anticipate that much because we dont know on what future holds and also we didnt still reach into the point that most businesses accept bitcoin.
This wont be a simple kind of decision because aside from legality issue but also with volatileness which is a major concern because as a business owner you wont really be
like to see your profits is declining but somehow it does have its pro's or chances too.So this decisions would really vary.

[sulendra12]

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

Well you did said about volatile so that's one of the reason why some of the big companies or even the smaller ones are not gonna accepting bitcoin as their payment because of how volatile the market is and it could either make the company profit of their bitcoins or things will go in the opposite way. The other reason is transaction fee but it's not a big deal.

Steam was accepting Bitcoin for quite some time but unfortunately they removed it: https://hexus.net/business/news/internet/112973-valve-removes-bitcoin-payment-option-steam/

[blockman]

Real businessmen are wise, they won't add anything to their business if it's not profitable and helpful. So if there are businessmen that don't want to add bitcoin on their payment option, they're just trying to be wise. But if there are businessmen too that adopts bitcoin as a payment method to their businesses then they're the wisest because they're aware of its volatility and there's two-way for accepting it. One for the actual payment, second for its volatility that they understand and it's another form of business to them.

Well, the term wise is not accurate for me --it should be a businessman that is willing to take a risk or high risk. Accepting bitcoin as payment is also have a risk because if you are the owner and accepting bitcoin in a bull season and then suddenly drop in the next few months it could affect your total sales when bitcoin is down. But if you can able wait until the bull trend is coming, it could be your profit will double but sad to know it has no time frame when it will happen. Willing to take a risk is also a high potential to gain profit.

You know in business, there's already the risk. And upon accepting bitcoin as payment isn't risky to them but holding bitcoin is. The first type of businessman that I've said, they're just trying to be careful and they don't want too much volatility as they're just trying to do business, no other than that. And the other type that's totally fine with it has the experience and is very open to new things like adopting and accepting payment of bitcoin to their products, they're optimistic and sees the potential of it. This is like, you can't just please everybody.

[Wawa2013]

I Think it will be easy to use for everyone. Bitcoin is digital crypto. Already many companies accepted bitcoin and they invested also I Think it will be accepted all bossiness companies.I think people will their money convert to crypto in future.I Think it will be fine and beautiful and more interesting.

We are really heading there but dont anticipate that much because we dont know on what future holds and also we didnt still reach into the point that most businesses accept bitcoin.
This wont be a simple kind of decision because aside from legality issue but also with volatileness which is a major concern because as a business owner you wont really be
like to see your profits is declining but somehow it does have its pro's or chances too.So this decisions would really vary.

We are entering an era where almost all payments are made cashless, therefore some businesses are starting to accept Bitcoin payments. And that's
what we really want as Bitcoin supporters, because the more businesses that accept Bitcoin, the faster the adoption process. But the fact is that Bitcoin
still has some shortcomings, therefore the number of businesses that accept Bitcoin is not much. Some of the considerations for business owners are
the legality issue and the volatile Bitcoin price. We know most countries in the world have not accepted Bitcoin as a means of payment, therefore
business owners do not dare to accept Bitcoin payments. In addition to the volatile Bitcoin price, it can cause the profit generated to decrease,
so the risk is indeed big. So it still takes a long time until Bitcoin is actually accepted as payment, so we as Bitcoin supporters must be patient.
But I believe in the future, most businesses will accept Bitcoin. For now we should be grateful that at least we can use Bitcoin as a digital asset first.

[Oilacris]

Real businessmen are wise, they won't add anything to their business if it's not profitable and helpful. So if there are businessmen that don't want to add bitcoin on their payment option, they're just trying to be wise. But if there are businessmen too that adopts bitcoin as a payment method to their businesses then they're the wisest because they're aware of its volatility and there's two-way for accepting it. One for the actual payment, second for its volatility that they understand and it's another form of business to them.

Well, the term wise is not accurate for me --it should be a businessman that is willing to take a risk or high risk. Accepting bitcoin as payment is also have a risk because if you are the owner and accepting bitcoin in a bull season and then suddenly drop in the next few months it could affect your total sales when bitcoin is down. But if you can able wait until the bull trend is coming, it could be your profit will double but sad to know it has no time frame when it will happen. Willing to take a risk is also a high potential to gain profit.

You know in business, there's already the risk. And upon accepting bitcoin as payment isn't risky to them but holding bitcoin is. The first type of businessman that I've said, they're just trying to be careful and they don't want too much volatility as they're just trying to do business, no other than that. And the other type that's totally fine with it has the experience and is very open to new things like adopting and accepting payment of bitcoin to their products, they're optimistic and sees the potential of it. This is like, you can't just please everybody.

When you do start up a business or investment then risk always accompanied with that and adding up something risky too like Bitcoin then its up to business owners on making such actions whether they do accept it or not.

They would be aware about the possible profits raised if the market turns out to be good and the losses that they could get whenever it dumps down.Just let them be on what are the decisions that they would make.

Some might have some reconsiderations and some wouldnt really have any care at all on accepting or integrating it into their business.

[v3liana]

I think theres a few benefit if business accept bitcoin payment.
1. New marketing opportunity. Telling people that you accept crypto might boost your sales in no time.
2. Lower fees. Credit card payment providers charge merchants 3% fee and more for each payment. Crypto payment providers charge significantly less and can convert those received coins to fiat and send to the bank account, so it’s a good opportunity to save some money for the business.

[BigBos]

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

Well you did said about volatile so that's one of the reason why some of the big companies or even the smaller ones are not gonna accepting bitcoin as their payment because of how volatile the market is and it could either make the company profit of their bitcoins or things will go in the opposite way. The other reason is transaction fee but it's not a big deal.

Steam was accepting Bitcoin for quite some time but unfortunately they removed it: https://hexus.net/business/news/internet/112973-valve-removes-bitcoin-payment-option-steam/

Well, bitcoin's biggest problem lies only in the fees. however, it seems that almost everyone has accepted it in their business. So far, not only bitcoin, but ethereum and even BNB have also become one of the payment recommendations for businesses, especially BNB because of low fees and fast transactions.
however, this goes back to the regulations in their respective countries. there are so many advantages to adopting bitcoin or other crypto in the business world.
I think steam is just not ready for the fluctuations that exist in bitcoin.

[Sir Legend]

The skyrocketing number of bitcoin users took all businesses by surprise, even during the pandemic that made many businesses drop, the performance of cryptocurrencies was unstoppable, this made business owners immediately think about accepting bitcoins for payment.

[MrcMrc]

The skyrocketing number of bitcoin users took all businesses by surprise, even during the pandemic that made many businesses drop, the performance of cryptocurrencies was unstoppable, this made business owners immediately think about accepting bitcoins for payment.

The market rate of Bitcoin is one of the motivation of many businesses that are now adopting Bitcoin in the business. The rate of such companies is on the increase, but this can only be aided if they can use Bitcoin lightning networks to carry out such transactions.

[bitterguy28]

The skyrocketing number of bitcoin users took all businesses by surprise, even during the pandemic that made many businesses drop, the performance of cryptocurrencies was unstoppable, this made business owners immediately think about accepting bitcoins for payment.

The market rate of Bitcoin is one of the motivation of many businesses that are now adopting Bitcoin in the business. The rate of such companies is on the increase, but this can only be aided if they can use Bitcoin lightning networks to carry out such transactions.

They may looking for adoption but does not count until it happens, there are many countries considering this fact but yet what are their stand now? still on process for years?
let us not count the chick when the eggs are still solid.
bitcoin is really an outrageous innovation for the whole world but appreciation is not enough instead we wanna see understanding and adoption because that will make this market grow much high than what we have had now.

[Sebas.tian]

Since bitcoin is now dominating all over the the world, it will be a welcome development to such businesses that will be accepting bitcoin payment. There are many millionaires in the country who are looking for where to buy goods and pay with bitcoin without fiat money involve. Many investors now prefer to purchase their products to where bitcoin is accept for payment to make things with them.
It will make such business that accept bitcoin payment to be more popular in that particular community because there are many bitcoin users who is looking for where to purchase their goods or services with bitcoin in the environment.

[Rufsilf]

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.

But what about the issue of volatility of bitcoin? Say for example that a person who works from a big company starts to accept bitcoin as a form of his/her salary, yes we could safely say that bitcoin now is on the hype and currently $61k. But what if the value starts to drop dramatically, maybe the remaining option their is to hold that crypto and wait for the market to recover.
Yes truly, we must dance according to the music and keep up with the time. But I still think best that the employee can have an option of to receive the salary by cash (fiat) or in crypto form.

[Lubang Bawah]

The main reason is that the number of bitcoin users continues to increase, in addition to reaching the global market, accepting bitcoin will facilitate every transaction so that business will increase significantly.

[btc78]

The main reason is that the number of bitcoin users continues to increase, in addition to reaching the global market, accepting bitcoin will facilitate every transaction so that business will increase significantly.

not just that instead how they can earn high as the value of bitcoin now are more cheaper compared to the incoming prices when the adoption finally comes.

if they are aiming to collect bitcoin(as holders) then this is the best way to accumulate more and more bitcoin to be ready in the years to come.

The skyrocketing number of bitcoin users took all businesses by surprise, even during the pandemic that made many businesses drop, the performance of cryptocurrencies was unstoppable, this made business owners immediately think about accepting bitcoins for payment.

it is more on today as the ETF seemingly bringing hype in the market

https://coinmarketcap.com/

i think this will also help more people to understand what this crypto can bring to them .

[Cling18]

Even huge businesses will benefit from the convenience that Bitcoin could provide especially during the pandemic situation that we have. That's actually the reason why big companies are now starting to accept Bitcoin because it's too helpful even for international transactions. It could save us from too much hassle. I believe that more businesses would still choose Bitcoin in the coming days.

[LogitechMouse]

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

I agree with what you said that the company can gain in 2 ways. Thru profits coming from the sales itself and at the same time, capital appreciation coming from Bitcoin.
On the other hand though, the company can loss in 2 ways too instead of one. Thru losses coming from the business itself and with capital depreciation coming from Bitcoin.

Lets also take note that this adds risk to the owner of the business since Bitcoin is very volatile, there might be a chance that it will go down at the time when they need to sell it and vice versa. I would love to see businesses accepting Bitcoin though since it adds to the adoption rate and its another way to market it. Maybe in few years, we may see more and more businesses accepting it.