Bitcoin as my new payment method

[Superdoctor]

I’ve been a merchant wholesaler for the past four years now. A lot has changed in my business since I introduced Bitcoin as a means of payment. I receive money quickly, I’m able to save up by storing and holding my bitcoins and I can withdraw from my account at my convenience, no limit options. This is far beneficial to me than when I was using banks. Within the first two years Of starting my business I always go to the bank to increase my account limit and set up other necessities. Sometimes it doesn’t get effective immediately I have to wait for 48hrs or the next five working days before it works and still I do have some issues from time to time. This year I decided to start receiving  Bitcoin as a means of payment. All I did was print out my wallet address, pasted it on the wall and my customers who knew about Bitcoin already  was so delighted I introduced Bitcoin as a means of payment and for those who didn’t have an idea,I educated  them on how Bitcoin works and how it can be useful to them.. Everything has been going swiftly,I’m so glad I made this great life changing decision of making Bitcoin a payment method in my business.

[Z-tight]

Such a nice thing that you have done, many merchants are yet to introduce bitcoin as a means of payment in their business because of volatility, and some accept it, but through payment processors; another drawback is the customers, many of them are reluctant to pay with bitcoin because it is a currency and asset that has an appreciative value, so they treasure it & want to keep it and spend fiat that is depreciative, it makes sense, but it is good to spend bitcoin a few times as you can. I don't know where your business is located, but your post sounded like many of your customers are now actually paying with bitcoin than fiat, that's not possible right? Which makes me curious to know how you go about it. Cheers Superdoctor.

[romero121]

Not everyone does this with courage with the fear of increased tax and legalities within the country. I believe you're good to introduce bitcoin to your customers. There'll be always some sort of limitations with the banking which isn't there with cryptocurrency. This makes cryptocurrency far better against the traditional banking system used for business needs.

Introducing bitcoin as payment option is really good and doing it by now makes you one among the earliest to do so. For now the business transactions are much into banking and other payment applications. Soon this will move to cryptocurrency. What people like do is the the base for large scale progress.

[mindrust]

I’ve been a merchant wholesaler for the past four years now. A lot has changed in my business since I introduced Bitcoin as a means of payment. I receive money quickly, I’m able to save up by storing and holding my bitcoins and I can withdraw from my account at my convenience, no limit options. This is far beneficial to me than when I was using banks. Within the first two years Of starting my business I always go to the bank to increase my account limit and set up other necessities. Sometimes it doesn’t get effective immediately I have to wait for 48hrs or the next five working days before it works and still I do have some issues from time to time. This year I decided to start receiving  Bitcoin as a means of payment. All I did was print out my wallet address, pasted it on the wall and my customers who knew about Bitcoin already  was so delighted I introduced Bitcoin as a means of payment and for those who didn’t have an idea,I educated  them on how Bitcoin works and how it can be useful to them.. Everything has been going swiftly,I’m so glad I made this great life changing decision of making Bitcoin a payment method in my business.

You should accept a variety of altcoins too imo. Sometimes the bitcoin network gets very slow and expensive because lots of people use it and your customers might want to use the alternatives. LTC, XMR, DOGE are good solid alternatives which have been around since forever. They are not as cool as bitcoin but providing some alternatives is still a good idea. imo. Your other choice is enabling the lightning network but I don't think many people use it.

[Nrcewker]

I’ve been a merchant wholesaler for the past four years now. A lot has changed in my business since I introduced Bitcoin as a means of payment. I receive money quickly, I’m able to save up by storing and holding my bitcoins and I can withdraw from my account at my convenience, no limit options. This is far beneficial to me than when I was using banks. Within the first two years Of starting my business I always go to the bank to increase my account limit and set up other necessities. Sometimes it doesn’t get effective immediately I have to wait for 48hrs or the next five working days before it works and still I do have some issues from time to time. This year I decided to start receiving  Bitcoin as a means of payment. All I did was print out my wallet address, pasted it on the wall and my customers who knew about Bitcoin already  was so delighted I introduced Bitcoin as a means of payment and for those who didn’t have an idea,I educated  them on how Bitcoin works and how it can be useful to them.. Everything has been going swiftly,I’m so glad I made this great life changing decision of making Bitcoin a payment method in my business.

Glad to listen that Bitcoins have helped you so much in making your business so smooth.
Only negative factor of Bitcoins is that the price inflation or fluctuation, for which if you ever need to cash out you might end up with some losses.
But yes if you manage to hold the Bitcoins that you get from your payments for at least 4-5 months, then definitely you will get twice the amount that you held earlier.
Nevertheless it would have been great if you could share with us the exact figure that you receive from cryptos on average in a month. It would have been motivated more business dealers to integrate Bitcoins in one of their payment method also.

[PX-Z]

Sounds like a sugar coated one, but no offence, it would be good if that really what happen as you may know, lots of crypto businesses file bankruptcy just this year.

You said you started bitcoin accepting just this year. What did you do particularly when bitcoin dumps so much on the past few months? How it affects your business?

Also, what wallet particularly you are using. Did you use a wallet/exchange that eventually exchange bitcoin to fiat or you just store it and exchange later on.

[cheezcarls]

I’ve been a merchant wholesaler for the past four years now. A lot has changed in my business since I introduced Bitcoin as a means of payment. I receive money quickly, I’m able to save up by storing and holding my bitcoins and I can withdraw from my account at my convenience, no limit options. This is far beneficial to me than when I was using banks. Within the first two years Of starting my business I always go to the bank to increase my account limit and set up other necessities. Sometimes it doesn’t get effective immediately I have to wait for 48hrs or the next five working days before it works and still I do have some issues from time to time. This year I decided to start receiving  Bitcoin as a means of payment. All I did was print out my wallet address, pasted it on the wall and my customers who knew about Bitcoin already  was so delighted I introduced Bitcoin as a means of payment and for those who didn’t have an idea,I educated  them on how Bitcoin works and how it can be useful to them.. Everything has been going swiftly,I’m so glad I made this great life changing decision of making Bitcoin a payment method in my business.

Despite that BTC is just more than a decade old, it’s still very young right now. Until now, there are still lots of people (especially the senior citizens) who aren’t aware of Bitcoin yet despite the trend increases.

But I have a question though. Which Bitcoin wallet are you using for your business? Is it from a centralized wallet? Or Bitcoin lightning network?

[Poker Player]

Sounds like a sugar coated one, but no offence, it would be good if that really what happen as you may know, lots of crypto businesses file bankruptcy just this year.

You said you started bitcoin accepting just this year. What did you do particularly when bitcoin dumps so much on the past few months? How it affects your business?

Also, what wallet particularly you are using. Did you use a wallet/exchange that eventually exchange bitcoin to fiat or you just store it and exchange later on.

I'm usually pretty skeptical of these kinds of stories, but there's something in the story that hasn't made me automatically dismiss it as bullshit.

OP, could you give more details on whether you use a custodial wallet or what kind and if you used an exchange like PX-Z asks?

It would also be helpful to know if you are in a poor country or one of the more industrialized ones. No need to say the exact country if you don't want to.

[8rch7]

You may say bitcoin has become your payment method but you also have to realize that not everyone can use bitcoin as payment, like in my country there are still very many people who don't know about bitcoin, in fact they don't even know what bitcoin is, it's best you introduce bitcoin to other people and try to teach them and provide free education to them, so bitcoin can be known more widely.

[Coin_trader]

It will be a good story if you indicate what country your business located to determine the Bitcoin adaptation level on your environment. I’m accepting Bitcoin too on my business since last year and I’m giving discounts for customer that paying using Bitcoin but still I don’t have too much customer that know or want to pay Bitcoin despite my discount offered.

I’m residing in Philippines and Bitcoin is already popular here but even with that good stats on cryptocurrency here. I’m having a hard time to convince my customer to use Bitcoin. Don’t get me wrong, I have 2000 to 5000USD monthly profit that’s why I want them to use Bitcoin instead to save me from conversion fee of my fiat to Bitcoin. I guess people here is not willing to use Bitcoin as payment.

[samuraijin]

Unfortunately my country has not accepted this method, and it is still illegal to use bitcoin as payment to buy goods, would like to hear about countries that have accepted payment methods using bitcoin, it is very rare to find in my country..

[kasunrandil]

well done my friend. this is called real adoption. people are steping down from centralized systems and onboarding to the decentralized and fast systems such as bitcoin. in my county most of my friends who trades good and services  are accepting bitcoin as one of their payment method now. this is what nakamoto wanted. this is how decentralized financial systems are made.

[BobK71]

I’ve been a merchant wholesaler for the past four years now. A lot has changed in my business since I introduced Bitcoin as a means of payment. I receive money quickly, I’m able to save up by storing and holding my bitcoins and I can withdraw from my account at my convenience, no limit options. This is far beneficial to me than when I was using banks.

For accepting Bitcoin as a payment method benefits you in many ways. First, accepting payments in Bitcoin served as an advertisement. Crypto users will be able to figure out your organization very easily. They will be more motivated to get the product with the new payment system. Moreover, there are some common advantages. As you don't have to visit the bank there is no accountability required, no limitations in transaction etc.

[Superdoctor]

You may say bitcoin has become your payment method but you also have to realize that not everyone can use bitcoin as payment, like in my country there are still very many people who don't know about bitcoin, in fact they don't even know what bitcoin is, it's best you introduce bitcoin to other people and try to teach them and provide free education to them, so bitcoin can be known more widely.

Definitely not everyone can use Bitcoin payment method but so far I have been able to introduce so many persons interested in knowing about how Bitcoin works. They now understand how Bitcoin payments are being done, how to  buy, send and receive bitcoins. Well  they now know the basic information about Bitcoin. So even if not everyone can use it I’m glad I have been  able to use Bitcoin as a means of payment in my business and people have been using it very well. For those who are yet to use it, I hope they use it soon.

[kamvreto]

be an amazing experience by accepting bitcoin payments for the goods you sell. No more withholding taxes and other authorities and your Bitcoins are completely yours. if you have started accepting bitcoin payments, of course your country's regulations already allow bitcoin as a legal tender. but if your country doesn't allow it, I think it's a violation. but after all this is a vivid example of the use of bitcoin as a means of payment for goods and services. you are a little earlier than us who have never used bitcoin as legal tender.

[Warkop]

In the country I live in, maybe don't accept bitcoin payment methods yet, it's just that my government has legalized bitcoin in a tourist city, namely BALI, where many foreign guests vacation there to make it easier for them to transact using bitcoin as a payment method, whether it's staying overnight in hotels, bars, or to restaurants, and games, it is also possible to use bitcoin as payment, so that's all I can tell you..

[tjtonmoy]

I’ve been a merchant wholesaler for the past four years now. A lot has changed in my business since I introduced Bitcoin as a means of payment. I receive money quickly, I’m able to save up by storing and holding my bitcoins and I can withdraw from my account at my convenience, no limit options. This is far beneficial to me than when I was using banks. Within the first two years Of starting my business I always go to the bank to increase my account limit and set up other necessities. Sometimes it doesn’t get effective immediately I have to wait for 48hrs or the next five working days before it works and still I do have some issues from time to time. This year I decided to start receiving  Bitcoin as a means of payment. All I did was print out my wallet address, pasted it on the wall and my customers who knew about Bitcoin already  was so delighted I introduced Bitcoin as a means of payment and for those who didn’t have an idea,I educated  them on how Bitcoin works and how it can be useful to them.. Everything has been going swiftly,I’m so glad I made this great life changing decision of making Bitcoin a payment method in my business.

I have also implemented crypto payment system in my business few days back. I had a lot of questions and doubts. After hearing everyone's suggestions on this matter, many things have become much easier to understand and got some very new and innovative ideas which I will be adding to my system.
feel free to read the thread here : https://bitcointalk.org/index.php?topic=5409470.0
And I respect your choice on BTC payment system.

[fuguebtc]

You did the right thing, mate.
Accepting bitcoin as a payment method will make your work more convenient and reach a more diverse source of customers and the best part is that you don't have to go to the bank to deal with late transfers or limit increases like you did. This has been thoroughly solved by bitcoin.

But I want to tell you, bitcoin payments are irreversible, so you and your customers should make sure the address is correct before making a bitcoin transfer, otherwise you won't have a chance to get them back.

[Wakate]

I’ve been a merchant wholesaler for the past four years now. A lot has changed in my business since I introduced Bitcoin as a means of payment. I receive money quickly, I’m able to save up by storing and holding my bitcoins and I can withdraw from my account at my convenience, no limit options. This is far beneficial to me than when I was using banks. Within the first two years Of starting my business I always go to the bank to increase my account limit and set up other necessities. Sometimes it doesn’t get effective immediately I have to wait for 48hrs or the next five working days before it works and still I do have some issues from time to time. This year I decided to start receiving  Bitcoin as a means of payment. All I did was print out my wallet address, pasted it on the wall and my customers who knew about Bitcoin already  was so delighted I introduced Bitcoin as a means of payment and for those who didn’t have an idea,I educated  them on how Bitcoin works and how it can be useful to them.. Everything has been going swiftly,I’m so glad I made this great life changing decision of making Bitcoin a payment method in my business.

One of the reason why Satoshi Nakamoto created Bitcoin is to make it decentralized where people can use it as a payment method in a decentralized manner. Bitcoin is meant to excludes various bank processes that could an account holder tired of kewping money in the bank. Bitcoin is here to stay to we'll have to embrace it more and appreciate the creator.

I have also used Bitcoin for many payment of services and I never regretted of getting to know about Bitcoin at the first place. Since it is decentralized, we all can make countless transactions without anybody querying us of how we are spending our money. The government has no power to freeze or reduce our transactions limit which is why it is a free world.

[Rabi3]

I’ve been a merchant wholesaler for the past four years now. A lot has changed in my business since I introduced Bitcoin as a means of payment. I receive money quickly, I’m able to save up by storing and holding my bitcoins and I can withdraw from my account at my convenience, no limit options. This is far beneficial to me than when I was using banks. Within the first two years Of starting my business I always go to the bank to increase my account limit and set up other necessities. Sometimes it doesn’t get effective immediately I have to wait for 48hrs or the next five working days before it works and still I do have some issues from time to time. This year I decided to start receiving  Bitcoin as a means of payment. All I did was print out my wallet address, pasted it on the wall and my customers who knew about Bitcoin already  was so delighted I introduced Bitcoin as a means of payment and for those who didn’t have an idea,I educated  them on how Bitcoin works and how it can be useful to them.. Everything has been going swiftly,I’m so glad I made this great life changing decision of making Bitcoin a payment method in my business.

that's so nice to hear, it takes some guts to make such a decision, a lot of people are still skeptical about Bitcoin and they are afraid of getting in trouble with the government for doing that, it's what's stopping a lot of businesses of accepting bitcoin as a payment method, thank God it worked out pretty well with you, good luck on the upcoming years, wish you more success.