Advantage of accepting bitcoin in business

[Frankolala]

This is a good concept which you have applied in your business by accepting bitcoin for an alternative means of payment. It shows that the hotel is not too known base on the environment, I guess it must be a village but it is possible for you to achieve good results and more customers, if you can teach your workers in the guest house about bitcoin, so that they can also help to spread the good news that your guest house accept bitcoin as payment.

Nigeria is overpopulated and I guess still not everyone can use cryptocurrency or invest in cryptocurrency but with the help of forum members, I can see that it will soon get to every ends of the country and more people from Nigeria will occupy the cryptospace.

OP good work and enjoy your business.

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[Yamifoud]

It was to say that accepting Bitcoin is been spreading more and this means that people already understand the use of this technology after all.
Now, as per to say that Bitcoin become known globally more stores had opened this as another payment option which also encourages crypto holders to use their Bitcoin. This gives the insights that slowly lead to the way of success being a form of currency as intended to be. It is pretty obvious that this promotes the use of crypto worldwide and makes people know that Bitcoin is not useless as many people say.
 

[Rana590]

It was to say that accepting Bitcoin is been spreading more and this means that people already understand the use of this technology after all.
Now, as per to say that Bitcoin become known globally more stores had opened this as another payment option which also encourages crypto holders to use their Bitcoin. This gives the insights that slowly lead to the way of success being a form of currency as intended to be. It is pretty obvious that this promotes the use of crypto worldwide and makes people know that Bitcoin is not useless as many people say.
 

Day by day Bitcoin will be more familiar among general people because it is changing the payment gateway, it is fast, secure and trustworthy. People can save both their time and money by the help of it. Not only in investment but also Bitcoin has many advantages that people are taking at this time.

[2double0]

Adoption is taking place almost everywhere, but regulatory bodies are having stricter stance on crypto after what happened with LUNA, UST and FTX investors. However, for small, medium and large scale businesses, accepting crypto when it is in bearish mode is still a great idea because it will give good profits later when bull run begins and it is also a technology that needs to be embraced by different industries to take advantage of the same. Let them know what is Blockchain, they will undoubtedly ask for more of it and that's when you may discuss Bitcoin and crypto with them and tell them about its advantages - security, immutable, store of value for their money, etc.

[DiMarxist]

The fact that Nigerians are accepting bitcoin payments in their businesses is positive. But I want to know whether Nigeria doesn't have a long-term bitcoin investing strategy. Because the majority of the forum posts that I have read so far describe how customers paid using bitcoin.
 
When a Nigerian citizen is fully aware of the potential benefits of hodling, it will be unusual to see him make a payment in bitcoin. In spite of everything, he would rather pay in fiat, not with bitcoin

It's like the p2p is working perfectly in the country. The p2p is even the most important thing or part of BTC market so if the government is not  adopting it, it won't affect the transaction processes, the only benefit from the government is that, it will make the trading more legal. Upon government unacceptance of BTC, the country is still the giant of BTC in Africa states.

Nigeria set to pass bill recognizing Bitcoin and cryptocurrencies

The passing of BTC into law in the country is just a throw of a stone. The bill has passed the second reading in the house representatives.

[Diuyen Kim]

I think it's fine to pay with bitcoin, credit card payments are a target for scammers and hackers who can steal customers' personal information. When making cryptocurrency payments, customers do not need to share any personal data as the payments are completely anonymous. Also, those who value privacy prefer to use cryptocurrencies over other payment methods because the buyer cannot be identified.

But bitcoin payments have not yet become mainstream, and people still tend to invest in bitcoin.

[Adbitco]

Congratulation Mate!
If i may ask what is the hotel name and where is it located in Nigeria?
is it within Port-Harcourt Rivers State (PH) or any other place so i personally may patronize them anytime i visited that area.
Now my contribution to you new payment system is that, always make use of active network and a better smartphone for quick confirmation of payment from client and customers then secondly your cashier shouldn't be that exposed because whenever people heard about bitcoin they may think there are some volume of it which you are holding without knowing that you just implemented it in your business newly, always be security conscious.

[yudi09]

Similar to your sentence that third parties can only control users, but they cannot control Bitcoin.
From here the question arises because as a good citizen does that not include contradicting them?

Corruption is illegal, but a lot of people in government do it, isn't that against the law?
The logic is the same, but I don't want to force anyone to go against government regulations which actually will only make us lose if they are debated. This means that you must comply with the applicable rules regarding currency and legal tender in your country, and so far I also cannot spend dollars or any foreign currency (including bitcoin) in the jurisdiction of my country. Of course it has been stated in the law, and obedience to the law is mandatory.

Yes. Obviously, Bitcoin activities and other illegal activities are counterintuitive and I can understand your point. You are right my friend, we are not required to fight the rules wherever we live and wherever we do activities let alone force ourselves or people to do so. If things like this continue to be debated then there will be absolutely no end to it.

In terms of fulfilling our needs, our activities are the same, that is, we are still unable to spend dollars or foreign currencies. Dollars or other foreign currencies can only be used if we exchange them for fiat in our country.

[justdimin]

Adoption is taking place almost everywhere, but regulatory bodies are having stricter stance on crypto after what happened with LUNA, UST and FTX investors. However, for small, medium and large scale businesses, accepting crypto when it is in bearish mode is still a great idea because it will give good profits later when bull run begins and it is also a technology that needs to be embraced by different industries to take advantage of the same. Let them know what is Blockchain, they will undoubtedly ask for more of it and that's when you may discuss Bitcoin and crypto with them and tell them about its advantages - security, immutable, store of value for their money, etc.

That is not a bad thing if you ask me. Some people think that having a lot of regulations would be crippling bitcoin but it is actually increasing the potential of it without people realizing. There is a lower high cap for bitcoin without regulation, and while short term it could go lower, there is a high high cap for bitcoin when there is regulation.

Think about it this way, if there are no regulations then you won't see companies like google, amazon, tesla, microsoft and trillions of dollars worth banking world all go into crypto, why would they invest into something with no regulations? But, if there are regulations they could all get in and make bitcoin go up super high.

[CryptoHeadlineNews]

 I was encouraged by this information  
https://bitcointalk.org/index.php?topic=5430921.msg61479047#msg61479047

This guest house was inherited by my husband from his family,I run and manage it,it is located in a small village.After reading the information that cryptocurrency banned will soon be uplifted and legalize in Nigeria,I decided to help in fast adoption of bitcoin in my country by accepting btc payment from customers who came to lodge or entertain themselves in the guest house. I also want to use the guest house as a medium to give bitcoin awareness to customers that comes to the guest house,

It's equally nice getting to know that you are promoting Bitcoin in the little way you can in your community, because if only just 1% of the people on this forum could do the same either weekly or monthly, I'm sure the Bitcoin community would have grown larger like never before. But moreover, here are some keywords I would have love having it printed black and white and pasted on the wall just like those I could see in the picture above. That are,
1. Bitcoin is not a scam
2. Bitcoin is indeed a digital currency
3. Bitcoin has come to stay

Example,

[minime0105]

Bitcoin have its impact for it's payment condition, the serious impact i can stand for Bitcoin right now, is that Bitcoin can make a quick payment across the country or continent without delays and during payment system the fees is very cheap than fiat currency kind of payment, Instead of using any other such as Fiat currency to transfer money to me across the country i rather accept Bitcoin kind of payment because of it fastest with payment confirmation.

[romero121]

Bitcoin have its impact for it's payment condition, the serious impact i can stand for Bitcoin right now, is that Bitcoin can make a quick payment across the country or continent without delays and during payment system the fees is very cheap than fiat currency kind of payment, Instead of using any other such as Fiat currency to transfer money to me across the country i rather accept Bitcoin kind of payment because of it fastest with payment confirmation.

Bitcoin gives access for cross border transaction with ease. Next thing it doesn't have any limitations, any volume can be transacted. There is no process and procedures to be fulfilled same as that we have with our traditional banking system. For now bitcoin acceptance seems to be different, but things will change as the awareness among people keeps growing high with time.

[Wind_FURY]

@Merit.s good work man, thanks for helping with bitcoin adoption in your own part of the world. I'll try to add more details that will make your new initiative attract more customers. You need an ad that’s bold and obvious, it’s a miracle the customer found you, and I think that’s mainly because he’s been searching for a motel he can pay with bitcoins the whole time, if you had a billboard outside that says you accept bitcoin it will be a lot easier to gain that attraction. I assume your motel has a bill board or ad sign outside, you could redo the old one and make a new one that adds some bitcoin hints so people know this motel is different.

OP could also advertise an offer for a discount if the payments are made in Bitcoins or add some freebies and other special benefits for Bitcoin users/Bitcoin payments. Because unless people earn their salaries in Bitcoin, it might be harder for them to spend Bitcoin. Why do, "buy Bitcoin to spend Bitcoin" if the person can merely use fiat directly? It's a different situation from Mr. Heroine Dealer and the Heroine addict in the dark market. Accepting Bitcoin merely for accepting it is not an indicator that people will simply start using it.

He can also get free advertisement since for sure many people will talk about the action he do especially if there are so many bitcoin users in their area.

Plus if there isn't many Bitcoin users in OP's area, he could use his establishment to organize a small Bitcoin meet up for the people to learn, understand, AND later use Bitcoin for payments, HODLing, trading, or buying drugs from Mr. Heroine dealer in the Darknet Markets.

Jokes aside, good education about Bitcoin is very important. It will make you have a true understanding of why Bitcoin could change how we think about money and markets.

As an example, there's the "ransomware market". Because software vendors are generally slow in patching their software, hackers have found an opportunity to create a "market" to profit from their skills through ransomware that uses Bitcoin.

[DaNNy001]

Corruption is illegal, but a lot of people in government do it, isn't that against the law?
The logic is the same, but I don't want to force anyone to go against government regulations which actually will only make us lose if they are debated. This means that you must comply with the applicable rules regarding currency and legal tender in your country, and so far I also cannot spend dollars or any foreign currency (including bitcoin) in the jurisdiction of my country. Of course it has been stated in the law, and obedience to the law is mandatory.

I understand that following the rules and laws of government in the nation is good but the (op) i think, is from the same region with me and in my opinion he is actually not going against government rules because before now the banks in my country actually allowed crypto currencies and it was legal. But recently the government put a banned in the country that forbids any fiat bank to transact directly with cryptocurrency with led to the freezing of most fiat bank in my region. But even as the ban was placed on the fiat bank ,it never said that using crypto or accepting it as a means payment in your own business is illegal and i think the op isnt going against the rule because people normally now send and receive bitcoin through peer to peer transaction and in popular exchange platform in my nation.

[Merit.s]

Similar to your sentence that third parties can only control users, but they cannot control Bitcoin.
From here the question arises because as a good citizen does that not include contradicting them?

Corruption is illegal, but a lot of people in government do it, isn't that against the law?
The logic is the same, but I don't want to force anyone to go against government regulations which actually will only make us lose if they are debated. This means that you must comply with the applicable rules regarding currency and legal tender in your country, and so far I also cannot spend dollars or any foreign currency (including bitcoin) in the jurisdiction of my country. Of course it has been stated in the law, and obedience to the law is mandatory.

Yes. Obviously, Bitcoin activities and other illegal activities are counterintuitive and I can understand your point. You are right my friend, we are not required to fight the rules wherever we live and wherever we do activities let alone force ourselves or people to do so. If things like this continue to be debated then there will be absolutely no end to it.

In terms of fulfilling our needs, our activities are the same, that is, we are still unable to spend dollars or foreign currencies. Dollars or other foreign currencies can only be used if we exchange them for fiat in our country.

If you check in Africa,my country Nigeria is the highest crypto users even though it was against the law of the country, some persons in the government based on their own selfish interest with their position, where the one who gang up to put this law and there is no crypto monitoring team that are monitoring the activities of people who is into crypto because the law wasn't grounded. Even them the government are into it that is why nothing they can do about it. So many businesses that are in busy areas are accepting bitcoin payment and it is fast growing down here,why are the government not arresting or concerned about it. There is so many problems to tackle in the country especially unemployment and corruption. This is my country and we all know what is happening down here.

[Russlenat]

It is music to my ears every time I read about businesses big or small or medium accepting bitcoin or even cryptocurrencies in general. Here in this forum, most of the time it is the Nigerians showing their bitcoin adoptions. More power to you guys and keep it coming. Maybe Nigeria is the next country to legalize the use of bitcoin as a legal tender. 

Sadly in my country, we cannot accept bitcoin without a permit from our business bureau which is a very long process. But I am not losing hope that one day I will travel around my country to see stores that accept bitcoin.   

Nigeria is certainly a crypto friendly that’s why most of the citizens there have known and have been exposed to crypto particularly with bitcoin. So it’s not surprising at all as it may follow the path of El Salvador and adopt bitcoin as a legal tender. Maybe the reason too why OP has been gaining advantage on accepting bitcoin in her business, as bitcoin is also popular to foreigners as well. Anyway, this could be an eye opener for most of his guests that bitcoin is legit and can be a legal currency as well. Aside from boosting adoption on bitcoin, she could earn a huge amount of income too if she keeps on accepting bitcoin and hold them for long term investment.

[8rch7]

The reason many people believe in bitcoin is because they understand blockchain and crypto, cryptography can be checked, transparent and cannot be counterfeited, even if someone fakes it it is very easy to check, even now big companies really believe in bitcoin, even companies have kept their money in the form of bitcoin around 140 trillion, because for people who understand bitcoin or other cryptocurrencies for them this is a digital form, but for those who have never known blockchain it must be very difficult to understand crypto, as well as people who don't understand banking it will be difficult to understand go pay etc because it doesn't exist .

[jokers10]

Day by day Bitcoin will be more familiar among general people because it is changing the payment gateway, it is fast, secure and trustworthy. People can save both their time and money by the help of it. Not only in investment but also Bitcoin has many advantages that people are taking at this time.

Someday its accepting will be wide enough to not even to wonder if they accept it in some place. But as for now it can be an additional advertisement if you accept bitcoin as bitcoiners can visit your place even just in curiosity. So IMO if bitcoin is not strongly prohibited in your country it can be a good idea to start accepting payments with it. Not sure there will be many ones who will choose this way of payment, but even few more clients are better then non having them.

[SirLancelot]

Day by day Bitcoin will be more familiar among general people because it is changing the payment gateway, it is fast, secure and trustworthy. People can save both their time and money by the help of it. Not only in investment but also Bitcoin has many advantages that people are taking at this time.

Someday its accepting will be wide enough to not even to wonder if they accept it in some place. But as for now it can be an additional advertisement if you accept bitcoin as bitcoiners can visit your place even just in curiosity. So IMO if bitcoin is not strongly prohibited in your country it can be a good idea to start accepting payments with it. Not sure there will be many ones who will choose this way of payment, but even few more clients are better then non having them.

But, it is always better to let people know if you accept BTC by putting some signage. The status of BTC adoption is already high but not too much that all people in each country already knows what Bitcoin is so your right that by accepting BTC in our business is like promoting it but unlike other payment methods Bitcoin can be able to compensate us once it was recognized by many people because along with it is that its value can also grow big but that is of course if we Hodl some if not most of the payments that we are receiving from our costumers.

Bitcoin not strongly prohibited doesn't mean it is now fully legal to use it as a currency because what if it's only legal for use as an asset? But we can always do some research or ask your government directly about its real status before using it on your business.

[Fara Chan]

Day by day Bitcoin will be more familiar among general people because it is changing the payment gateway, it is fast, secure and trustworthy. People can save both their time and money by the help of it. Not only in investment but also Bitcoin has many advantages that people are taking at this time.

Someday its accepting will be wide enough to not even to wonder if they accept it in some place. But as for now it can be an additional advertisement if you accept bitcoin as bitcoiners can visit your place even just in curiosity. So IMO if bitcoin is not strongly prohibited in your country it can be a good idea to start accepting payments with it. Not sure there will be many ones who will choose this way of payment, but even few more clients are better then non having them.

What is happening right now is that Bitcoin has users and recipients more and more widely, most people are quite familiar with Bitcoin and because of this factor they are increasingly interested in owning/adopting and starting investments for assets in the future, now a lot of changes are happening with Bitcoin and are focused on the business world.

These business people certainly accept Bitcoin, without realizing that Bitcoin is becoming more and more familiar among the general public and also among businesses, some countries already know about Bitcoin as well as businesses about the compensation they will get. And Bitcoin makes people more dominant in adopting it, both among business people and the general public.