I Opened another business were I accept Bitcoin

[Mr.right85]

It's good having a business in a region where the economy isn't working. Your doing yourself and the people a favour. Unfortunately, bitcoin might not be an acceptable currency in the region and having you to accept them, I hope it won't bring you some admiration from government officials.

It is a huge step to be accepting bitcoin directly as, its got issues with confirmation time and fees not to mention the rates and you too still get to charge for the transaction. That seems so much to bear in just a single withdrawal and not a purchase.
Although, it is an offering of a needed service right.

You just use card in your dealings.

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[Questat]

It's good having a business in a region where the economy isn't working. Your doing yourself and the people a favour. Unfortunately, bitcoin might not be an acceptable currency in the region and having you to accept them, I hope it won't bring you some admiration from government officials.

It is a huge step to be accepting bitcoin directly as, its got issues with confirmation time and fees not to mention the rates and you too still get to charge for the transaction. That seems so much to bear in just a single withdrawal and not a purchase.
Although, it is an offering of a needed service right.

You just use card in your dealings.

In that case, making a business certainly will never grow but if it fails, he'd rather accept fiat instead.
Running a business should be planned so well, likely accepting Bitcoin in a place where it was illegal and no users, you can really imagine who gonna buy you stuff with Bitcoin - of course, nothing.

I think OP must-have reviewed the place where he runs a business accepting Bitcoin. If that is only an option while still accepting fiat, that is still fine.

[Wiwo]

It's good having a business in a region where the economy isn't working. Your doing yourself and the people a favour. Unfortunately, bitcoin might not be an acceptable currency in the region and having you to accept them, I hope it won't bring you some admiration from government officials.

It is a huge step to be accepting bitcoin directly as, its got issues with confirmation time and fees not to mention the rates and you too still get to charge for the transaction. That seems so much to bear in just a single withdrawal and not a purchase.
Although, it is an offering of a needed service right.

You just use the card in your dealings.

In that case, making a business certainly will never grow but if it fails, he'd rather accept fiat instead.
Running a business should be planned so well, likely accepting Bitcoin in a place where it was illegal and no users, you can imagine who gonna buy you stuff with Bitcoin - of course, nothing.

I think OP must have reviewed the place where he runs a business accepting Bitcoin. If that is only an option while still accepting fiat, that is still fine.

From my analysis of the potential of having a Bitcoin in this kind of business, I have discovered that even though Bitcoin may not be widely accepted in that region but serve as an alternative to those who believe and know about Bitcoin and if all thing being equal with what ops have stated in his post, I think he stands to make huge profits from the fees he charges on Bitcoin transactions since he charges higher fees for Bitcoin pos withdrawal even though the transaction is done traditionally without using a blockchain payment system and sender bears the sending fee on the blockchain. The only setback for this kind of business is patronage, if there is high customers demand for bitcoin he will make huge profits but if the turn-up is low it can be discouraging for ops.

[mich]

At the moment, I am not a business owner but however, I would 100% accept Bitcoin as payment. I would prefer it over credit cards and offer my customers incentives for them to buy my product or service using Bitcoin.

The good thing that comes from accepting Bitcoin is the lower transaction fees which mean more money into your pocket. That will help your business make more profit and increase your investment for the long-term.

[Kelvinid]

At the moment, I am not a business owner but however, I would 100% accept Bitcoin as payment. I would prefer it over credit cards and offer my customers incentives for them to buy my product or service using Bitcoin.

The good thing that comes from accepting Bitcoin is the lower transaction fees which mean more money into your pocket. That will help your business make more profit and increase your investment for the long-term.

That is a part of business strategies. We have to listen to the needs of the people around us and make several options where it was more convenient for them like using Bitcoin. I really see success in business like this especially if the people already know about Bitcoin and of course, it was supported by the government and legal.

It was just for now that only a few businessmen offered this and have the courage to duel the market volatility but I see this will grow and more establishments will cater to this option in the near future.

[LUCKMCFLY]

I just Opened the business on 1st/September/2022 and on the 2nd/Sep/2022 I was surprised to receive a call from my employee that a customer wants to take #18,000 (Nigeria Naira) and pay in Bitcoin, I did the calculation and added $3 fee for my business charge and sent the details across and the customer sent 0.00155 BTC. I asked my employee to give cash to the customer when she confirms the transaction is processing, so the customer initiated the transaction and receive the cash he needed.

Good decision when opening new business accepted bitcoin as payment currency transaction,  I think your country Nigeria have been popular with bitcoin around I saw many member from Nigerian in Bitcointalk forum. I think not really expensive when payment charge fees about $3 but I hope you can use comparison with charge fees, if transaction above $1,000 maybe you can add little fees transaction or depending with huge amount transaction for fees payment.

His actions are a good thing for bitcoin but unfortunately bitcoin is banned in his country, Nigeria, which has enacted a bitcoin ban since 2021. But interestingly, as far as I know, bitcoin trading in Nigeria has increased 16% in a year through P2P trading despite the previous ban by the government.

With accepting bitcoin so openly, I don't know if it will get him and his business in trouble with the authorities. Hope he is aware of what he is doing, otherwise he will have a bad experience.

The transaction fee of 3 $ will not be high if we trade with a large amount but there will be problems when they convert to a smaller amount, not many people are willing to accept.

I will always support a person who ventures to accept Bitcoin and more in a prohibited country, I have read about the culture of Nigeria and it has many good things and its people are very friendly and cheerful, surely a government that prohibited them should not stay with that, I like that they can do and be irreverent, bitcoin was made for everyone, and in a business everything is valid, besides Bitcoin represents money, another thing is that they want to limit the lives of some people in particular better, always in this economy there are freedoms that a traditional system does not offer, Nigeria and its people know that a way out is bitcoin, very good for those businesses that accept btc.

[Bobrox]

What ever business kind I think keep forward and always adapted what the new technology depending we are in modern era, I think your business accepted bitcoin is should did because right now become the era of digital currency where all payment transaction easy to do if using bitcoin or altcoin. How to build business nowadays need to see our costumer development, were most of them have used bitcoin as the way for investing and have chance open your business by accepting bitcoin as payment currency.

However you made costumer easy when joining with your business because have several kinds way for payment currency used, with option accepted bitcoin in your business I think have added several new costumer later.