Will it be profitable for the business?

[Crypto Library]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

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[franky1]

volatility is only a problem if you have a static price advert that needs to stay at the same advertised bitcoin amount for a month+

however there are new style ads that can be custom to the viewer that auto updates. so that you can have a price that matches the time its viewed

you can also have just a "pay with bitcoin" and then at checkout, when you have added up the total of goods and delivery then have the conversion

after all USD-EUR changes alot

bitcoin has changed by  +20%   -20% of a $20k average for 6 months ($24k-16k)

USD-EURO has seen a 1.16-0.96 (20%)
USD-GBP has seen a 1.36-1.07 (30%)

so dont worry to much. many people see many prices change by the week.. with products selling for 20-50% "on sale discount"

if you simply have something at a slight premium exchange rate where you make a couple % extra to cover any short term variance you should be good

[Z-tight]

It would be most profitable for your business if the BTC you'll be accepting as payment is for a long term investment purpose, that is every payment received in BTC stays in the wallet for at least a minimum of 4-5 years, then it would be profitable for your business because BTC delivers good returns in the long run.

BTC would surely be good for your business because it would attract more customers for you, people that are looking for ways to spend their BTC would see your business as a good option, and that will increase customers for you. If you do not want to hold BTC because of volatility, you can as well accept it through a payment gateway and receive BTC payments in the currency you choose.

I don't think there is any other downsides to an addition of BTC payment option in your business, except it is unlawful where you reside.

[posi]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

In many cases, a portion of payment must be made before the work, in these cases, it is still profitable to use Bitcoin. I work at Upbarak and my service provider gives 60% payment to my account before the work has been done. I never see volatility causing a problem with them.

If you have random daily payments I don't think volatility is a big issue. Because in the case of BTC there are usually no such big dumps on a daily basis that you have to count a lot of losses. Another thing is, you can keep your funds in a stablecoin and convert it to BTC on payment day, reducing your risk.

[The Cryptovator]

When you are doing business, such as selling and buying, you will require capital. You must invest from your own pocket to purchase and sell products. As a result, money is circulating. In that case, I believe you should maintain your business profits in crypto since it is volatile. As a result, you are not losing money on your initial investment. Your business will be unaffected if the cryptocurrency market falls. So, yes, you can accept cryptocurrency payments in this manner. The rest is up to you.

[Ojima-ojo]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions raised in my mind.

If I must give my opinion on this subject matter of accepting bitcoin for your job it may be a good way to diversify your payment options, most especially when there is network failure with other payment options already known and used.

But you must consider making your price change in DCA so that even if the price of Bitcoin dropped it won't affect your payment amount since you are charging per dollar cost but receiving payment in bitcoin.

And also you should try not to hold your bitcoin for the long term since bitcoin is highly volatile and it price can drop or raise at regular intervals.

This way you will have some hedge against volatility.

[Dunamisx]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.

This is now left to you to decide on a choice to make, if you accept bitcoin it will help attract those Willing to pay in bitcoin into your patronage, remember bitcoin is volatile, so therefore there's probability that you make more money on top the paid amount for your service if the bitcoin market is running bull and same you can loose abit if it's on bear direction, but you need to know that it's not like other coins that will loose value entirely to zero when falling, or better still convert them to stable coin whenever you receive your payment to retain it value, that's why i insist that the results you arrived at depends on you and how you handle the situation for making the payment work for you.

[indah rezqi]

Get more payment options for your business and reap the benefits. Adopting bitcoin or crytpo can actually make you double your profit if you are able to hold onto it for a certain amount of time. But it will also cost you over time if you don't have the extra budget to finance the business. Anyway you don't need to hold your bitcoin or crypto after receiving payment, I mean you can instantly convert them to fiat in just a few moments but it just depends on what your adoption goals are.

I think crypto payment options will be more and more popular in the future and the demand for these payment options will increase. Your first step might be to adopt it now rather than waiting any longer, it will put your business ahead of others in terms of payment options.

[Crypto Library]

It would be most profitable for your business if the BTC you'll be accepting as payment is for a long term investment purpose, that is every payment received in BTC stays in the wallet for at least a minimum of 4-5 years, then it would be profitable for your business because BTC delivers good returns in the long run.

BTC would surely be good for your business because it would attract more customers for you, people that are looking for ways to spend their BTC would see your business as a good option, and that will increase customers for you. If you do not want to hold BTC because of volatility, you can as well accept it through a payment gateway and receive BTC payments in the currency you choose.

I don't think there is any other downsides to an addition of BTC payment option in your business, except it is unlawful where you reside.

I also know that it is definitely profitable to hold Bitcoin for the long-term, but in this case, my business needs to keep my capital in a cycle to purchase products or goods. I think it would be better to use a payment gateway for business through which Bitcoin to other stablecoins or currencies can be converted immediately. Because if you look at the current situation, only 4.2 percent of people around the world use cryptocurrency, so holding Bitcoin payments for a long time can be risky for business. And can you please suggest me some reliable payment gateway which is also easy to use.

[n0ne]

Consider it as providing additional payment option to the clients. At any choice never misunderstand adding bitcoin as payments will bring profit. One thing what we do now will reflect in the future. Maybe now we don't make money out of cryptocurrency into business as there is not much of people using it. With time this will change and at some point we'll see regular payments happening through bitcoin. It is like keeping ourselves prepared for the future advancement of business.

[Viscore]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

Accepting bitcoin in your business will boost and maximize your future profits. Just don’t be bother with its current value and instead, accumulate more of it. Surely, you will gain huge amount of profits when time comes that bitcoin value will hit its new all time high, but that will only happen if you are highly determined to consider bitcoin as your long term investments. As bitcoin is best for long term investment more than any other cryptocurrency.

[QueenVera]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.

So lets ignore the volatility of the market and consider the positive impact accepting Bitcoin as an addition means for payment will bring to your business. Firstly you'll be attracting a new market audiences that are crypto minded which brings about more sales for your product and increase the revenue that you're generating on your page.
You aren't investing so you shouldn't be that concerned about the volatility of Bitcoin, you're running a business as such your capital should always be your number one priority then next to the profits therefore you can always trade the Bitcoin received to stablecoin or fiats. This can be done automatically through some service providers or you do it personally immediately you receive the coins.
What I think you should be most concerned about is if Facebook permit the accepting of Bitcoin as a means of payment (assuming you're doing it officially on the site) so as to prevent them shutting your page down and you losing all your customer as a result.

[Z-tight]

but in this case, my business needs to keep my capital in a cycle to purchase products or goods. I think it would be better to use a payment gateway for business through which Bitcoin to other stablecoins or currencies can be converted immediately.
~~~~~~
And can you please suggest me some reliable payment gateway which is also easy to use.

Okay then, since your business requires every income you make as you have to put back all of it into the business, so you cannot do long term holding, a payment gateway then is your best option.

As far as payment gateways being reliable and easy to use is, you will have to choose based on the coin or coins you want to receive and if you want to do KYC or not, fees, etc. There are many options to choose from, and i have a good thread that will help you choose what you need, and if you want privacy as a priority too:
https://bitcointalk.org/index.php?topic=5259548.0

[Upgrade00]

How about you conduct a survey to know how many of your customers would be willing to pay in Bitcoin? This would let you know if there's a market for Bitcoin payment option with the service you're providing

If at the end it proves that there is, all you need to do is to use the most suited payment gateway for your business, this would make volatility not to be an issue at all, since the payments would be converted to fiat instantly.

[milewilda]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

If you cant bare up the volatility of Bitcoin or cryptocurrencies as a whole then its better not to stress yourself out on accepting it on your business.Volatility could neither be your enemy or your friend.
If you are that someone who do goes for long term and dont mind about volatility and wont be actively using up those fiat conversions and would be willing for those profits to sit on crypto form
then it wont really be bad on accepting Bitcoin but if you dont like that movement or doesnt really like to see that profits is going down or lesser then
its better not to proceed with this plan.Its up to your own choice yet you could see that there are already lots had been accepting Bitcoin or crypto payment into their businesses.

[Piesel]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.

This is now left to you to decide on a choice to make, if you accept bitcoin it will help attract those Willing to pay in bitcoin into your patronage, remember bitcoin is volatile, so therefore there's probability that you make more money on top the paid amount for your service if the bitcoin market is running bull and same you can loose abit if it's on bear direction, but you need to know that it's not like other coins that will loose value entirely to zero when falling, or better still convert them to stable coin whenever you receive your payment to retain it value, that's why i insist that the results you arrived at depends on you and how you handle the situation for making the payment work for you.

I think, it is better for ops to first take his time to build his fundamental knowledge on risk management before diving into accepting Bitcoin, this is so because not having Bitcoin as payment in your business as it will increase your customer base.

But don't intend for long term holding of the Bitcoin you receive as payment so try as much as possible to always convert them into your local currency at regular intervals because just as you said earlier, Bitcoin volatility can greatly affect your sale income in left for a long.

[TimeTeller]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

If you cant bare up the volatility of Bitcoin or cryptocurrencies as a whole then its better not to stress yourself out on accepting it on your business.Volatility could neither be your enemy or your friend.
If you are that someone who do goes for long term and dont mind about volatility and wont be actively using up those fiat conversions and would be willing for those profits to sit on crypto form
then it wont really be bad on accepting Bitcoin but if you dont like that movement or doesnt really like to see that profits is going down or lesser then
its better not to proceed with this plan.Its up to your own choice yet you could see that there are already lots had been accepting Bitcoin or crypto payment into their businesses.

Yes, it depends on how he look at btc market as a potential payment method on his business.
If he is worried about volatility but still want to accept crypto, maybe he can go for stable coins.
The volatility in btc is still here and won't go away anytime soon, so he should really consider his options on this move.
If he doesn't want to lose but still want to accept btc, he can always convert this to his fiat once received but it would be a tedious work for him.
The OP needs to contemplate on why he is doing this move, is it just because he wants to be in and say to his customers that he is accepting btc or does he believe in btc as a good alternative in payment method that he can offer to his clients?

[drwhobox]

In my opinion you can use bitcoin as a secondary payment option for now, just to see for some months if your customers are interested in paying with bitcoin. Make it easy for them to pay with bitcoin. A well designed payment page is something that interest buyer to make the payment.

But now if IBut now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.

Increase your profit margin if you have a scoop for that, it will cut the chance of losing your profit from the sale. The thing is you can not fix the selling price in bitcoin, you have fix it with USD/EUR and convert the USD/EUR price with bitcoin. You can add that converter to the payment page using any currency converter tool.

[KennyR]

How about you conduct a survey to know how many of your customers would be willing to pay in Bitcoin? This would let you know if there's a market for Bitcoin payment option with the service you're providing

If at the end it proves that there is, all you need to do is to use the most suited payment gateway for your business, this would make volatility not to be an issue at all, since the payments would be converted to fiat instantly.

Making a survey will let us know the people's mind. For bitcoin and other cryptocurrencies as payment we doesn't need much of process to be done. Just a wallet creation is more than enough. So, when we've planned of adding payment access just make a gateway. It is upto the users whether to use it or not.

[Mpamaegbu]

It's a give or take situation but it will depend on the understanding of both you and those you're selling your services to. I mentioned understanding because of the fluctuation in value that is often the case with Bitcoin transactions. To resolve this, both parties should check the value when it was sent out and not when it was received. That's the method I use when transacting in Bitcoin. So, to that effect I make bold to say the question you seek response to is already answered. Go ahead and accept Bitcoin for your business. It's feasible and easy to transact with.

[lalabotax]

It would be most profitable for your business if the BTC you'll be accepting as payment is for a long term investment purpose, that is every payment received in BTC stays in the wallet for at least a minimum of 4-5 years, then it would be profitable for your business because BTC delivers good returns in the long run.

But sometimes this method is not cheap for business people because after all they still need the money to keep their business running. Because in Bitcoin there are funds for the business operations themselves and various other business needs. So, if these funds are stuck in Bitcoin investment for several years, then the businessman will find it difficult to get operational funds after a while. Especially if it's just one business. This may be good for future investment, but not for running a business. So, I'd rather think like @franky1 with a marketing and transaction strategy like that, it's more profitable for businesses and attractive to users or customers. However, in order for the capital to continue to rotate, the owner must be very clever in seeing market conditions and when is the right time to immediately cash out the Bitcoin into their fiat. regardless if their profits will still be in Bitcoin or follow-up to change to fiat, that is of course another personal consideration.

[Smartvirus]

volatility is only a problem if you have a static price advert that needs to stay at the same advertised bitcoin amount for a month+

Volatility is some of the reason why some crypto enthusiast love Bitcoin and it is as well a probe for the currency to function as a measure for purchases due to its volatile nature as one can end up at a lose or profit with the next minute. I think those who have adopted bitcoin means of payment would be in the better position to share an experience here but, through the Volatility and bear moves of the market, stablecoins have been the asylum for most traders and it could still serve a purpose in that regard. Although, I won't advise you leave it in which ever stablecoin for way too long.

[Merit.s]

It will help your business to grow fast in the nearest future and customers will have the opportunity to choose an option to make payment,it will attract more customers to you. Since it is an online business,you will need ads for awareness. Bitcoin is global so you will have the advantage of having customers from outside your country,if there can be access for that. You can keep your profit in a long term run.

[Desmong]

Yes Bitcoin and other cryptocurrencies comes with bigger risks so you need to understand how the market moves so that you will have complete idea on the market. Every business has it own risks so the one of Bitcoin is not different from all so we need to know that. If you want to take the risk then that's fine but you need to think well before taking any move.

[Yatsan]

Will be risky if their payment will be needed as your capital to continue your business. Ofcourse you'd have doubts or hesitation to use the accumulated funds if the market price is low because it could be an instant loss by doing so. Another point is whether your business is service or product based. If it is product based, you'd be force to circulate the funds but if it is service based, you may hold their payments as much as you can because it is only your hardwork which would be your capital. Therefore it is a matter of measuring the risks. Accepting this technology would promotefficiency with transactions but keep in mind that it is business you are running and you must take extra caution to run it efficiently as well.

[NicNacCoin]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

I think you have enough knowledge about cryptocurrency. You can introduce Bitcoin system in your business to make the business more powerful and robust. By introducing a Bitcoin system in the business, customers can easily buy your products from you. Most of the customers will benefit from this. But if you feel very risky then you can immediately convert to USDT. Here Bitcoin is temporarily dumped by many. So if you can hold the trading dividend bitcoin for a long time you will still see enough profit. But think Bitcoin will never drop to zero if dumping. And if you want to do business, you must take risks. However, since the business is yours, you can make better decisions about what to do.

[landheer]

do you sell products online or what??
if for example you sell products online and receive payments using bitcoin,, I think there are drawbacks and advantages, if the drawbacks you can potentially experience losses if you receive bitcoins immediately sold in the near future and happen to be when you are selling bitcoin price down. but if you receive bitcoins from buyers and invest for the long term, of course it will be a big profit.

[Fundamentals Of]

Bitcoin is volatile. It's how you look at it of course but this could itself be one of the reasons why Bitcoin is a better currency. But you just have to be mindful that if you are too dependent on your limited capital, that if you need it for the business to continue rolling, you don't hodl it. It's either you convert it instantly or you wait for the price to grow a little before selling.

For example, if you got it when Bitcoin was $16,500, you can immediately sell it when Bitcoin rose to as little as $16,900. That's better than be stuck with no more funds to roll over. But if you have a deeper capital, you can risk keeping it for a longer time for a bigger profit.

[bitterguy28]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

If you are having this business to fed your family on daily basis then yeah maybe this will be a having second thought thing because you are only wanting to take profit  ASAP than waiting for days or months and maybe years.
but if this business of yours are already established and has its own costumers that paying fiat and accepting bitcoin is just an extension ? then i don't think you need to worry .
having bitcoin from business meaning you are accumulating this and having with big discount because in your business price there is already a profit inside plus the opportunity of having bullrun in the future?
this is a win win situation for businessman like yours.

[peter0425]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

Looks like you are doubting bitcoins capacity to help you and your business mate , you have been in this forum for quite now meaning you have crossed many thread and discussion about how bitcoin and other cryptocurrency helping people towards future.

accepting bitcoin and other coins to help your business will prosper may not now? but eventually it will.

one question here, are your country is accepting bitcoin or not having ban into it? because if Yes then you are free and have good future but if not? then I think forget this to be and find other way in increasing your fortune .

[dansus021]

The major thing when people accept crypto is volatility I mean the volatility is part of crypto itself, as the merchant, you can still accept crypto by using other third app to eliminate the volatility by using service like Bitpay most of online store or VPS provider use bitpay to convert the bitcoin directly to their desire fiat money. there is other 5 you can find right here https://neilpatel.com/blog/crypto-payments/ but I usually find bitpay has been widely use.

Much simpler is by using stablecoin on EVM Chain like Smart Chai, Ethereum or Polygon since their address in same on other EVM chain so you can only using one QR for bunch of EVM chain

[kotajikikox]

well what said above me ? you can try accepting stable coin if you are afraid of volatility , but the fact that we are talking about bitcoin here so it is respectful to risk in this or do nothing at all.
this is your business and you are the only one who can decide and has its faith.
but accept it mate , it is one of a best chance to earn from it in the coming years.

[davis196]

Let's say that you accept payment in a random fiat currency, like Russian rubble for example. Will this be profitable for your business?
The whole idea, that accepting payments in a new currency would be "profitable" for a certain business seems ridiculous to me.
Profit equals the revenue minus the costs. Do your own calculation and see the results. What would be the cost of accepting BTC payments
and how your overall revenue will increase after accepting BTC payments(or will it decline)?
Do you want to convert the BTC into fiat right away, or do you plan to HODL the BTC and wait for a higher price?
What is your business and are there any crypto enthusiasts among your customers?

[lousie9]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.

because it is very volatile, you can use the dollar rate on the goods or services you sell. even though payments use BTC, the value of which changes every day. you can still receive value from the goods and services you sell at the same price.

As a first step, it might be better for you to accept BTC as a means of payment as an alternative to your customers. however, the business must pay attention to what the market wants.

[eddie.gouws]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

For many businesses, the idea of accepting bitcoin as payment is becoming more and more appealing. Accepting cryptocurrency comes with a number of potential benefits that can have a positive impact on profitability.

One benefit of accepting bitcoin for payments is the reduction in transaction fees. Paying with traditional methods like credit cards often come with high processing fees which can eat into your profits. On the other hand, using bitcoin for transactions generally means significantly lower transaction costs. These cost savings are often transferred directly to your bottom line giving you an extra boost in profit margin when compared to traditional payment methods.

Another benefit to accept bitcoin as payment relates to security and fraud prevention measures that come along with it. When you process payments through conventional methods, it’s easy for hackers and thieves to take advantage of vulnerable points in the system and cause serious damage to your business's reputation or financial position by stealing customer information or money from accounts.. By contrast, due to its robust cryptographic protocols, bitcoin provides a far greater level of protection against malicious actors than conventional banking systems do.

Finally, one major benefit associated with bitcoin acceptance is increased access to customers worldwide who may not have access or be able to use traditional forms of currency due sanctions placed against their countries by other nations or organizations such as banks being unwillingto process transfers from certain regions due reputational risk considerations . This opens up new markets for business owners interested in tapping into international sales potential but may otherwise have been prevented from doing so without cryptocurrency options available . In addition , this could also help reduce losses that might occur during currency exchange fluctuations .

Overall , embracing cryptocurrencies offers multiple advantages over traditional forms of payment making it highly profitable option for businesses looking expand their customer base globally while keeping costs down on transactions fees and preventing fraud at same time .

[Adbitco]

Nothing much to deliberate over it as many have venture into it without harm to their businesses, I have seen a shop accepting bitcoin as a means of payment and something prompted me to asked him about how is he copping with the bear market. What he said to me is, immediately he received payment in btc he convert his capital to stablecoin like Busd or usdt possible he converts to our local currency by then he has secured his business funds and only leaving his profits to btc and whenever the market appreciate he sells immediately to make additional profits.
He said he is not doing that to hold BTC rather to spread the max adoption of bitcoin and cryptocurrency at large. I was amazed by the bold steps he has chosen and for that I also patronized him that very day.

[sunsilk]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

Then accept stable coins if you want to avoid volatility. But in stable coins, you've got a lot of options to make as to what's the stable coin that you want to accept.

There are also third party services wherein you can accept payment in bitcoin and then that service will convert the payment that you've received as soon as you've got it into dollars/fiat.

Then it's all up to you if you want to convert them back into bitcoin later on, manually.

[Dr.Bitcoin_Strange]

First, I would advise you to pioneer your advertisement so as to let people know that you now accept Bitcoin payment. You can do that by printing some fliers and stickers, then sharing them within your neighborhood and outside, advertising on social platforms, and if you have more money to spend on your advertisement, you can broadcast it on the radio station.

It is very good to have different payment methods in a business; it also provides customer satisfaction as they can choose which method is most convenient for them. 

Depending on your cost, maybe you can consider giving customers who pay with Bitcoin a 5% discount; that's another strategy to win more customers. Customers who received discount may be pleased to tell their friends, and you will continue to get more customers.

In my business, I also accept Bitcoin payments, and the strategy I use to manage volatility is that at the end of every sales day, I always convert my Bitcoin to USDT while leaving my profit in Bitcoin as a long investment. This works perfectly well for me. 

This is my thread, and you can see a lot of the suggestions I got.

[GreatArkansas]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
(....)

What if you just have multiple payment options or methods?
So your customer will always have their option on how they will pay you? There are lot of payment processor right now that can offer multiple mode of payments like in different way, like debit cards, credit cards, digital wallets, etc., and you can just add the option for paying Bitcoin.

[Plaguedeath]

Why your business must accept Bitcoin only? why you're don't want to accept multiple currency e.g. your local fiat, stable coin, e-fiat? So your customers are free to choose which currency they want to pay you instead of just one currency. It would be profitable as long as you're have a terms like: "the store doesn't responsible to recover any coin that transferred to wrong address" etc.

[fennic]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

Now volatility is a problem cause when you accept Bitcoin as a payment than there are some things that are needed to be considered. Let's say that you accept Bitcoin than it may crash than that's not good for Bitcoin. There are some suggestions I will say that you might consider.
 
1. Sell things with Stable Crypto Like USDT
2. sell your Crypto immediately when you get payment
3. Or Hold for a long term

In this way you might be able to generate good amount of profits too.

[|MINER|]

~snip~

I don't think there will be any big problem for your business if you accept Bitcoin. Because there are already options to use stable coins or exchange bitcoins to stable coins. I don't think you need to hold Bitcoin when you are accepting in your business because many times small price drops lead to business losses.
If you want, you can exchange from Bitcoin to stablecoins using exchangers like Binance and Coinbase.  Or by adopting some technical knowledge you can easily use payment gateways using bitcoin processors like BTCPAY server, bitrequest.

[beerlover]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
(....)

What if you just have multiple payment options or methods?
So your customer will always have their option on how they will pay you? There are lot of payment processor right now that can offer multiple mode of payments like in different way, like debit cards, credit cards, digital wallets, etc., and you can just add the option for paying Bitcoin.

Bitcoin could also technically turn into stablecoins automatically with many payment processors which means that you do not have to worry about the volatility as well. They could pay you with bitcoin if you want to include crypto users, but the moment they do, your money will turn into USDT which could be turned into USD into your bank account. That is how many people do it, so that they do not have to face the troubles of bitcoin or crypto volatility.

I believe that it's by far the best method for a person in business, because it allows them to know their finances, anyone with dubious finances would fail in the business world and won't grow.

[dezoel]

High volatility in crypto is not a new thing but despite of it, a lot of people are still accepting it on their business so if they can do it then why can't you? You should not think negatively especially if you haven't started anything yet because it can only discourage you on what you are planning. On a business, there is no limits if how much payment methods you are going to support but the more the better.

You can also accept Paypal, Banks, Payoneer and other common one's. Now you are sure that you won't only attract crypto users this time. If you are worrying that cryptos value might drop more then why won't you sell them right away? There's also a service where it auto-converts the crypto that you receive to the currency of your choice.

[goldkingcoiner]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

You always have the option of accepting crypto stablecoins/tokens like USDT, USDC, BUSD and others, if you are so concerned with the up and downs of the price movements. Although it is quite understandable that you would be, since your business expenses do not pay for themselves and the margins might be so slim sometimes that you cannot afford to speculate whether Bitcoin will be low or high.

If you want to diversify your risk, it would be best to get a mix of these stablecoins/tokens and stash them in your own secure wallet (do not stash them into third party wallets mainly exchange wallets - like Binance for example).

[qwertyup23]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

Why not just open the avenue of accepting cryptocurrencies as alternative payment for your business? Remember that the volatility of BTC is what makes it unique- if you can handle the volatility and HODL a partial amount for long-term, then I see no reason on why you should not accept it.

Again, investing into cryptocurrencies does not guarantee an absolute profit. There is still some further steps that must be taken in order to take advantage of its volatility to maximize your profits. Personally, the more payment options that are available, the more profitable and flexible your business would be.

[Rigon]

First, I would advise you to pioneer your advertisement so as to let people know that you now accept Bitcoin payment. You can do that by printing some fliers and stickers, then sharing them within your neighborhood and outside, advertising on social platforms, and if you have more money to spend on your advertisement, you can broadcast it on the radio station.

It is very good to have different payment methods in a business; it also provides customer satisfaction as they can choose which method is most convenient for them.

Depending on your cost, maybe you can consider giving customers who pay with Bitcoin a 5% discount; that's another strategy to win more customers. Customers who received discount may be pleased to tell their friends, and you will continue to get more customers.

In my business, I also accept Bitcoin payments, and the strategy I use to manage volatility is that at the end of every sales day, I always convert my Bitcoin to USDT while leaving my profit in Bitcoin as a long investment. This works perfectly well for me.

This is my thread, and you can see a lot of the suggestions I got.

I fully agree with your suggestion. Especially since you have given him advice from instant business experience here. You must take risks to build the OP business strong and resilient. OP you should take ads to spread the word that you accept payment in bitcoin. It is very good for a business to have different payment methods especially it provides customer satisfaction. OP If you consider accepting bitcoins too risky then you can convert your bitcoins to USDT at the end of the day. There will be no risk.

[GeorgeJohn]

Actually many people will like the situation of paying with Bitcoin, but it's advisable to do such kind payment with Bitcoin manually instead of using it for internet business, because from my point of views many people will see it as a way of doing what they called scam, because this time many suspect people who demands or request for payment with Bitcoin as a scammer, it's better to do on manual business.

[xSkylarx]

If your problem is the volatility of the crypto, then every time you receive a payment, convert it directly to your own fiat and don't hold it, but others don't do it since they can still gain profit when they hold it. Accepting bitcoin as payment can also attract more customers because they will become curious and want to try out that payment method; I've also seen a documentary that claims they've tripled their profit since accepting bitcoin as payment since the pandemic.

[jeraldskie11]

As of now, Bitcoin's price is so volatile but that doesn't mean it will not good for business. There are still businesses running today and accepts Bitcoin since the price is so high because they believe that the price will go back at the top. So If you're running a business now it's an advantage to you and I believe that you will be very profitable in the long run.

[mvdheuvel1983]

I want to believe that when a business owner decides to accept bitcoin for their business, it offers them a competitive advantage over other firms that do not accept bitcoin.
I also want to believe when a business owner decides to accept bitcoin for their business, it opens them up to receiving new customers. notably those who embrace bitcoin.
So, in essence the business owner sees profitability as an expansion of the customer base that results in an increase in sales.
 

[SovereignSoil]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

OP, I'm sure you know how much liquid capital you need from each transaction to cover costs, inventory, or whatever to keep your business flowing. With that knowledge, I believe there are ways/services to have a certain percentage of a Bitcoin payment/transaction liquidated into a bank account. I believe beef producers with thebeefinitiative.com are able to do this exact thing.

Then, you could allocate the rest of the Bitcoin as you wish. Keeping everything in Bitcoin just does not make sense with current volatility, and anyone who says otherwise is crazy. Sure inflation is as bad as it is, but if your company's funds lose 50%+ purchasing power... That's nearly impossible to stay afloat.

With your business model, and the suggestion that I outlined above, it would really depend on how great or little your margins are. BUT, I know producers in The Beef Initiative take Bitcoin payment and rancher/farmer profit margins are as narrow as it gets...

[SovereignSoil]

OP, you also don't have the burden of credit card processing fees with Bitcoin, so there is that plus from the get-go. The fees involved with liquidating that Bitcoin into immediately available fiat capital - I have no feel for that.

[adzino]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.
-snip-

You had looked at the cryptocurrencies, but have you looked at the price of bitcoin and the charts? If you did, what did you see? I am sure you saw that the price in the long run kept on going up. Compare the price of bitcoin few years ago with todays price, and you will see people made a very decent profit by holding. So what I am trying to say is that, yes it is going to be risky for your business due to volatility, but if you are willing to hold it for long term, then you will  be making more profit. Why not hold a percentage of your profit in crypto currencies, while converting the rest to fiat as soon as you receive it?

[oaz7t]

The counter question is how long can you HODL those bitcoins? As you are self aware that bitcoin has high volatility rates which means you will always be unsure about how much you are going to make from your sales. The whole calculation is based on timeline and your ability to hodl for that period. If you are accepting the bitcoin as payment mode then you must have planned that you need to keep that money in the bitcoin. If you are going to accept bitcoin payment and sell them immediately for the fiat then you should not even think about it. You can simply accept the fiat payment as we do traditionally. If you are going to hodl then future is always unpredictable in the bitcoin verse but it won't let us down considering the fact that bitcoin is widely known, with Gen Z more into it, it will grow big.

[Sebas.tian]

Yes, accepting Bitcoin as a payment in your business is profitable because those that accepted Bitcoin as a payment in their businesses are really doing well in the country. What you need to do right now, is to start advertising  your business, and also alert people that you accept Bitcoin as a payment in your business through Facebooked, WhatsApp, Twitter and other social media so that bitcoiners in that country will be aware of your business. Don't forget that this business required huge amount of capital, because bitcoiners will like to purchase goods that will Worth $100,000  or $50,000 and pay with Bitcoin.

[Codswallop]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

Then accept stable coins if you want to avoid volatility. But in stable coins, you've got a lot of options to make as to what's the stable coin that you want to accept.

There are also third party services wherein you can accept payment in bitcoin and then that service will convert the payment that you've received as soon as you've got it into dollars/fiat.

Then it's all up to you if you want to convert them back into bitcoin later on, manually.

That’s exactly what I do. I offer USDT as a payment option as it’s one of the most famous stablecoins out there. It’s widely available. You can find many crypto gateways that supports it, I am using CapitalWallet tho. Also, it has a strong reputation for stability which makes it attractive for the merchants who want to minimize the volatility of their cryptocurrency holdings.

I understand that people like to pay in btc or other volatile cryptocurrency which raise a concern for merchants as the volatility of cryptocurrencies can make it difficult for merchants to know how much the cryptocurrency is worth when they receive it, and it can also create uncertainty about whether or not they will be able to recoup the full value of the sale if they need to convert the cryptocurrency back into a fiat currency at some point. But there’s a solution for it as well- exchanging it into fiat immediately.

[Godday]

In some countries many places that currently accept bitcoin as a means of payment, of course they have considered it well and are ready to accept risks, and I think it is a good idea to add bitcoin assets in the future, with the value that has decreased at this time, of course, the achievement of the new ATH is always expected and all bitcoin users are sure that it will definitely happen, But everything takes time so now opening a business by accepting payments using Bitcoin is a very good idea, and it can get huge profits in the future.

[yazher]

If you are in a big business then it's better for you to have that option because of the current price right now and it would be great if you accumulate as much as many as you can before the arrival of bitcoin halvings because after that most likely the price will recover and sometimes break its old ATH price. But if you only have some small business, then it's really up to you because it could ruin your capital when the crypto market will further crashes this year and will only recover next year because it's 2024 the bitcoin halving season.

[Dickiy]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

I think it's better for the price of the goods you are going to sell to have a benchmark with stable coins or fiat currency is the solution in my opinion, so you can receive payments in Bitcoin but the price remains in fiat currency, just like we accept payments from signature campaigns on forums Currently, payment uses bitcoin but is pegged to fiat currency.
I think it's easier for you to set the price of goods, so fluctuations that occur in bitcoin or another crypto you can adjust the amount of Bitcoin itself with the price benchmark that you make with Fiat.

[YOSHIE]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin.

It depends, what kind of business you run, I mean the business model, if you move in food it's not profitable.
I have a friend who is engaged in the food business, he offers his customers to receive Bitcoin payments, Unfortunately, that only lasted two years, due to volatility and higher transaction fees for the food customers buy, for that reason many customers are reluctant to pay with Bitcoin, they tend to have food paid with fiat, the cost incurred is greater than one pack of food.

Exception: if you run a business such as a car, vehicle, house, furniture or similar company, in that business if you make a payment method with Bitcoin/crypto it makes sense, may benefit both your parties and your customers when making a buy/sell transaction.
If you look at the current volatility of Bitcoin, of course you should look at businesses that are compatible with Bitcoin transaction fees.

[coinerer]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

Profit will depend on how many customers you have and when you are going to do business and buy and sell something you must use the money regularly as there is no chance to hold your money for a long time so Bitcoin will be very profitable for you.  It has no guarantee. To get profit from Bitcoin you must hold it for some time so it is not possible to tell how much profit Bitcoin will give you in this business if you accept btc for payment.because you have not given any indication of what kind of business you are going to do.

[justdimin]

I think it's better for the price of the goods you are going to sell to have a benchmark with stable coins or fiat currency is the solution in my opinion, so you can receive payments in Bitcoin but the price remains in fiat currency, just like we accept payments from signature campaigns on forums Currently, payment uses bitcoin but is pegged to fiat currency.
I think it's easier for you to set the price of goods, so fluctuations that occur in bitcoin or another crypto you can adjust the amount of Bitcoin itself with the price benchmark that you make with Fiat.

It's keeping it in the books that's the problem. Let's assume I buy something for 100 dollars and sell it for 300 dollars, I have some costs as well, so that means I make about 100 dollars profit, but what if bitcoin drops 50%? The ones in my books end up being less valuable and I wouldn't be able to rebuy the same inventory and I would lose money on that.

This is why many people say just put the profits into bitcoin and rest should be fiat, even if you sell it for bitcoin, automatically turn that into fiat and whatever is your profit, you could put it in bitcoin. In that case even if it drops, that was your money that you invested, and can wait longer to make more profit.

[Sanitough]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

Remember that bitcoin is always good for long term investment so if you tend to keep it and hold it for long term, then never expect for quick profits. Yes it will be profitable but not in the present but certainly for future profits. So it’s actually your choice. But to be honest, it’s good to take advantage and grab chances of accumulating bitcoin at the moment, because regardless of its high volatility, it’s always certain that it’s value will keep on growing, and the longer you hold it, the more profitable you become in the future.

[Kasabus]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

We are now in a digital age so expect that everything will go digital now, except for traditional businesses that only accept traditional fiat. So if you want to be ahead of others, then always take advantage of the present opportunity that is in front of you. Accepting bitcoin as a payment is the trend now, regardless of its volatility, if you understand it and knows it would be highly valuable in the future, then you will never slip chances of wanting it.

[Hypnosis00]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

With the volatility of Bitcoin, will somehow then think that it was not really a great option for business but nothing happens to us if we never try at least we know the results. We can't just tell we fail unless we give it some try and do our best. There is one reason why a person fails in business and it is because of their mindset. You already think about the negative results which could influence you as well and then start to doubt.
Many have tried doing this business, I think they are already in profit. Have faith and stop thinking of failure but rather think of the best strategy to grow your business.

[Smartvirus]

Sometimes, profitable could actually mean not having g to loose your customers to other competitors. I think that's some of the bases for having all these available payment options so, they don't get to sort alternative sources of getting there services or making purchases and paying them bills for it.
If we get to set aside the volatility and investment part of accepting cryptocurrency, that could be that.
But, volatility still remains a vital part of the bitcoin network and having to accept it for a payment option, one gets to know how to not encounter loses in case of a fall and that might mean, having to sell every now and then.  Maybe keep your excesses if any but, you might not want to leave your capital in cryptos if it is of concern.

[uneng]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

With the volatility of Bitcoin, will somehow then think that it was not really a great option for business but nothing happens to us if we never try at least we know the results. We can't just tell we fail unless we give it some try and do our best. There is one reason why a person fails in business and it is because of their mindset. You already think about the negative results which could influence you as well and then start to doubt.
Many have tried doing this business, I think they are already in profit. Have faith and stop thinking of failure but rather think of the best strategy to grow your business.

Well, to avoid volatility's negative impacts he can receive payments in one of his exchanges' accounts, so he immediately swap bitcoin into fiat until he thinks he has enough fiat on his cashier for the month. After that, he can store incoming payments in bitcoin without swaping it anymore, thinking on it as future investment for his business or personal growth.

Volatility is the least issue when accepting bitcoin as payment. In my opinion, the worst side of this integration is to find customers willing to pay with btc, unfortunatelly...

[akuntester1]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

You didn't convey clearly about the type of business you want to do, so I'm a bit confused about what to say.
You said you doubt whether it will be profitable because of the high volatility.
But in my opinion if your business can still run without fast payback, it is a good step to accept Bitcoin payments.
If your business needs to get a quick return on investment to be up and running, maybe you should reconsider.

Indeed there is nothing wrong with accepting payments with Bitcoin.
But my opinion if you want to open a business and accept payments with Bitcoin,
you must first calculate precisely and in detail whether our business can run and survive if it accepts payments with Bitcoin.
Don't be swayed by what other people do about them receiving Bitcoin payments from their business or ventures.
In my opinion, for now not all types of businesses or businesses can run and survive if they accept payments with Bitcoin.

[serjent05]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

The initial step is to setup a wallet of payment options.  You can either use a payment gateway or manually set up your own wallet for payment.  There are pros and cons and I think you need to do research on the pros and cons of these two methods.  One thing I can say is if you don't want to be affected by market fluctuation use the payment gateway but if you wanted to hold cryptocurrency and doesn't mind the volatility I believe setting up the payment manually is a good choice since it can save you maintenance fee that the gateway payment provider is charging.

[mindrust]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

You can use a centralized service like bitpay which will pay you in USD. You are not going to touch crypto at all. You will only see the $$$ in your bank account. Of course they don't this for free. You need to pay them a fee.

If you are a business which attracts many crypto people then a solution like bitpay would help you to grow your audience. Otherwise, it is probably not worth paying bitpay. (or whatever crypto payment gateway service you have in mind.)

[taufik123]

There are many crypto payment gateway services that can be used as needed, without having to manually convert from crypto to fiat. Can be applied to all businesses that can be adjusted.



There are 8 of the best crypto payment gateways that you can choose like

1. Coinbase – Zero-Fee Crypto Payment Gateway.
- Transaction Fees – The best thing about Coinbase Commerce is that it charges no fees on Crypto payments.
- Support eCommerce Platforms – Currently, Coinbase provides payment gateways for WooCommerce and Shopify.
  However, you can use its API to connect with other platforms.
- Conversion – It allows you to sell your crypto for cash or convert it into USDC instantly.

2. BitPay –  Easy to use Crypto Payment Gateway
- Transaction Fees – BitPay charges a transaction fee of 1%.
- Support eCommerce platforms – It offers a collection of plugins and extensions for major eCommerce platforms like
   WooCommerce, Shopify, WHMCS, Opencart, Zencart, etc.
- Conversion – It allows you to settle payments in your bank account within 48 hrs without price volatility.

3. GoUrl – Open-source Bitcoin Payment Gateway
- Transaction Fees – It doesn’t incur any transaction fees.
- Support eCommerce platforms – It offers amazing support to popular eCommerce platforms like WooCommerce, EDD, WP eCommerce, Jigoshop, etc.
   It also provides different plugins for your WordPress site.
- Conversion – It readily converts bitcoin to USD, EUR, etc.

4. OpenNode – Bitcoin Payment Gateway
- Transaction Fees – OpenNode charges 1% for bitcoin transaction processing.
- Support eCommerce platforms – It offers plugins for eCommerce platforms like OpenCart, Shopify, WooCommerce, PrestaShop, etc.
- Conversion – OpenNode lets you convert automatically between bitcoin and other popular currencies at the transaction time with locked exchange rates or
   on-demand.

5. CoinPayments – Best Crypto Payment Gateway
- Transaction Fees – CoinPayment charges 0.5% of the amount as transaction fees.
- Support eCommerce Platforms – It provides plugins for major eCommerce platforms, including Shopify, WooCommerce, Magento, OpenCart, and more.
- Conversion – It allows you to convert coins automatically into stable coins or fiat currency.

6. SpectroCoin - Accept Payments Using API
- Transaction Fees – SpectroCoin doesn’t list its fee online, these need to be obtained directly from the company.
- Support eCommerce platforms – It offers eCommerce plugins like WooCommerce, PrestaShop, Magento, Opencart, WHMCS, etc.
- Conversion – It lets you convert quickly to the currency of your choice

7. CoinGate – Popular Cryptocurrency Payment Gateway
- Transaction Fees – Coingate charges 1% transaction fees.
- Support eCommerce platforms – It extends support to popular eCommerce platforms like WooCommerce, Magento, Prestashop, etc.
   With Coingate API, you can easily integrate and accept bitcoin payments in your eCommerce store.
- Conversion – Coingate collects the payment and transfers it to you in real-time in bitcoins, euros, or other supported digital assets.

8. NOWPayments – Most-supported Cryptocurrencies
- Transaction Fees – It charges 0.5% transaction fee + 0.5% exchange fee if the crypto exchange is needed.
- Supported eCommerce Platforms – It provides crypto plugins for platforms like WooCommerce, ZenCart, PrestaShop, Opencart, WHMCS, Magento 2, and others.
- Conversion – Customers can pay with any crypto, NOWPayment automatically converts them into your preferred coins or fiat currency.

Source: https://ecomsutra.com/blog/best-cryptocurrency-payment-gateways-ecommerce/

[romero121]

Cryptocurrency into business is always good, but we should not expect the profit out of the same immediately. People are much focused on profiting, but when we add something to business we need to must know whether the users are ready to use our service in exchange for bitcoin and other cryptocurrencies. If there is not much of users it takes time to make people around you to get aware of it. So, one should not expect profit instant.

[Rigon]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

I find it very profitable to accept BTC in business nowadays. People are getting more and more attracted to Bitcoin now. As a result, accepting BTC in business can be very profitable. However, you can introduce Bitcoin payments in your business. You will definitely benefit from it. If you see volatility in the cryptocurrency market, you can keep all your transactions in stable coins at the end of the day.

But what I think is important to attract people to the business is to arrange a commission on sales (20 to 50% max) to present more ads. Having a popular youtube channel. If you can do all these things, you will get success in business.

[kro55]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

I find it very profitable to accept BTC in business nowadays. People are getting more and more attracted to Bitcoin now. As a result, accepting BTC in business can be very profitable. However, you can introduce Bitcoin payments in your business. You will definitely benefit from it. If you see volatility in the cryptocurrency market, you can keep all your transactions in stable coins at the end of the day.

But what I think is important to attract people to the business is to arrange a commission on sales (20 to 50% max) to present more ads. Having a popular youtube channel. If you can do all these things, you will get success in business.

Accepting bitcoin for businesses is slowly becoming popular, and it is very beneficial for your business, but to say it is profitable for you is doubtful. When you accept payments in bitcoin, your business will attract new customers, which in turn will increase your revenue. But with the unpredictable volatility of bitcoin to say it will be profitable, we need to reconsider. To make a profit from bitcoin means we have to invest in it, and whether that investment is profitable or not depends on your investment strategy.
In my opinion, there are certainly benefits to accepting bitcoin, but to make a profit, it is up to you.

[Ryu_Ar1]

Accepting bitcoin for businesses is slowly becoming popular, and it is very beneficial for your business, but to say it is profitable for you is doubtful. When you accept payments in bitcoin, your business will attract new customers, which in turn will increase your revenue. But with the unpredictable volatility of bitcoin to say it will be profitable, we need to reconsider. To make a profit from bitcoin means we have to invest in it, and whether that investment is profitable or not depends on your investment strategy.
In my opinion, there are certainly benefits to accepting bitcoin, but to make a profit, it is up to you.

In this condition, actually when I say gain or loss, it comes back to myself, I think.
Investing in bitcoins is definitely one of the staple things to do but when it comes to paying for bitcoins this can also be a pretty good opportunity actually. Volatility in bitcoin is something that is very normal and actually this is probably what I will relate to the current signature campaign when we have payments every week using bitcoin is this going to make the payer lose money? Of course not when we look at it from a nominal point of view because it's still the same but what's different here is the amount of bitcoins we receive and when we have more to pay out in the current conditions which are still in a bearish condition it's a risk we have to accept.
I think it depends on our thinking in this condition because indeed the payment is still at the price previously set so indeed this cannot be said to be a profit and loss in this case as long as the nominal remains the same for payment.

[Kaliandra]

In my opinion, if you accept payments with bitcoin, of course it will be great as long as we can sell the results of payments from people when the bitcoin price rises, but actually in my opinion it is very high risk because in business I think it is rather complicated if you use bitcoin as a means of payment because of the price
bitcoin is unstable, and that's what causes people not to make bitcoin as a means of payment.

so in this case we must be good at setting strategy.

[Bounty _BOX]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

Good luck! I think it will be good for you if you can do it well and you will go a long way। Because it will be better if you do business on the current Facebook page. But you have to be patient.

[uchegod-21]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

Bitcoin payment is like any other form of payment, just like paying with fiat. So payment gateway or method has nothing to do with the profitability of your business. If you want to profit in your business try and venture into a business that us profitable.
If you want to accept Bitcoin, conduct a survey among your customer base and ask them if they would want to be paying with bitcoin. Their replies will enable you make a better decision.

[m2017]

~snip

Profitability will depend on what type of service you provide. If you are an e-commerce business, such as selling educational materials or any trading signals, then the volatility of bitcoin should not affect you in any way. After all, you have not spent anything material and all your resource costs are your time and energy. If you were selling someone else's goods for which you had to shell out N-th amount of money, and then selling it for btc, then volatility can play a cruel trick on you here. But even here, it is possible to outwit this bitcoin's feature. Always keep a cash in reserve, with which you will buy goods that you will sell for a btc. As a result, spend cash and accumulate bitcoin until selling btc becomes profitable.

P.S. Don't take my advice as the recommendation of an experienced businessman. These are just hypothetical thoughts of the deliant.

 

[Cookdata]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

Profit will depend on how many customers you have and when you are going to do business and buy and sell something you must use the money regularly as there is no chance to hold your money for a long time so Bitcoin will be very profitable for you.  It has no guarantee. To get profit from Bitcoin you must hold it for some time so it is not possible to tell how much profit Bitcoin will give you in this business if you accept btc for payment.because you have not given any indication of what kind of business you are going to do.

I think this depends on the duration in which the business owner is ready to reuse the money. If one is running a business and decide to accept bitcoin along the line, one needs to be prepared for liquidity and extra cash somewhere, you don't have to depend on the bitcoin for short term to reuse the money, there should be extra money somewhere for the emergency and keep the bitcoin you are receiving from customers and I believe you will enjoy it more when the price is low if you sell more to customers in that period, you will not only gain from the profit of the business if you accept bitcoin, you will also earn in triple when the price hit a new time but only if hold for some time.

[Sakanwa]

Yes it is really convincing about your question either in any way your making money from a business you need to have we you can invest in other to accumulate more profit.
It will be very profitable to include bitcoin or welcome bitcoin into a business,reason been that you have knowledge of bitcoin investment and how it has profited alot of people.

With making bitcoin a part of you business help you grow your business from your profit in your Invertement.

You let it known to costumers as well,this to teach them about bitcoin and how they operate with this you have really down enough in your business and in it known in your society, now there with purchases of bitcoin and payment of bitcoin in your business.

[famososMuertos]

What kind of business? yes, it can be used for retail... e.g. but! Mass consumption products due to their volatility require an instant conversion system, which exist and are available, there are several APIs that you can add to your business.

The art! It is a good option to set prices in BTC, first because  it would compensate for volatility, with the so-called "high value product".

Let's say you have a gallery and your slogan is a "price in bitcoin for a year,"  the exhibitions work like this, the point; the middle class, and its different variants (medium, low, high) is one of the largest consumers of pieces of art in all its variants, paintings, sculptures, etc. it's a mass market.

But, unlike the upper or upper class that buys when they want, they, the middle class, buy when they can, and works of art are difficult because of their price in itself, art is volatile, very volatile, art loses or it gains value according to certain circumstances, but having prices in BTC could "suppose" standardizing prices in works. Obviously, there is always a base price and it is the one that would govern, for your gallery and for the artist, in this way in a Bullish market, you would be winning and would generate an additional option in the acquisition of the piece.

Art is one of the great candidates to "fix" prices in bitcoin and it is possible that one day things like this will be standardized through organizations that price works of art in bitcoin for a certain time.

Obviously art, although it may be believed, is not a controlled market in any country and that in itself could be a tool to control the black market for the sale of works of art.

Now, for Facebook, use an API and change the price whenever you want, what is theproblem!? always amazes me that the "Bitcoin accepted Here" option, have the associated fear I will lose!.
The pioneers or better to say entrepreneurs with bitcoin are the ones who take adoption to another level.

[Ahli38]

adding a bitcoin payment option in your business will certainly make your business have a good enough traction. and in this case not only bitcoin but you can also add other options from crypto like stablecoins. because as we know that there will be many people who want to try shopping with the bitcoin they have. and I've done it several times. and it's quite fun.

But you know better about the business you have. so I hope you have more confidence in your own analysis and decision about this. You are also the one who understands your customers best.

[inthelongrun]

OP have you not observed that having many options as payments is the trend? Or are you just planning to accept only bitcoin in your business? That's just crazy, right? You can simply write on your Facebook page and specific posts the mode of payments you accept. And if it is not illegal and strict in your area then you may include bitcoin among the many banks and financial apps you consider to further boost your business.

Adding bitcoin won't lessen your sales anyways. But I actually think that it is cool when a business accepts bitcoin as payment. It means the business is futuristic, modernized and updated to the latest.

[Questat]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

I understand how you feel about the volatility of the market and it looks like you are not ready to deal with it. Running a business with doubts will make you fail, better not to do that if that is still in your mind.

- preparedness
- focus
- trust

But in your case, I don't think all of these things will work for you. Something you need to clear your mind and replace with positivity for this will give you peace of mind and so you can decide well.

[salad daging]

adding a bitcoin payment option in your business will certainly make your business have a good enough traction. and in this case not only bitcoin but you can also add other options from crypto like stablecoins. because as we know that there will be many people who want to try shopping with the bitcoin they have. and I've done it several times. and it's quite fun.

But you know better about the business you have. so I hope you have more confidence in your own analysis and decision about this. You are also the one who understands your customers best.

I as a crypto community are of course very happy that their business accepts bitcoin as a means of payment. I will try if someone around does it, it will be much easier, practically using this method, even true, there will be more interest because bitcoin is now well known to their young people already have bitcoins in wallet to invest.

From the business that is being run, of course, you have to be prepared for everything including extra reserve money as liquidity to maintain stability in the business, at this time I am still designing how this will also be implemented in my business which was previously planned, including from stablecoins and bitcoin which is the top priority.

[crypticj]

Just accept USDT or USDC. The transaction fees are low and they are stable so you won't lose money because of the dip. But I think BTC could work too, but only if you are ready to hold it for a long time cos the volatility is still here.

[gunhell16]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

This is just simple logic dude, if you believe in bitcoin let's not include another cryptocurrency here. If you fully understand bitcoin including its advantages, that means when you include it in the business you will build or do, it only shows that you understand what Bitcoin can help even though it is volatile.

Don't integrate or adopt bitcoin in your business if you don't fully understand or understand it, don't do it just because you see a lot of people doing it in their business, You should do it knowing that it has potential in the future from in usages, features, and others.

[coinerer]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

Bitcoin payment is like any other form of payment, just like paying with fiat. So payment gateway or method has nothing to do with the profitability of your business. If you want to profit in your business try and venture into a business that us profitable.
If you want to accept Bitcoin, conduct a survey among your customer base and ask them if they would want to be paying with bitcoin. Their replies will enable you make a better decision.

By keeping Bitcoin as a payment method, Bitcoin will work for personal profit and loss despite normal business profits. Because if you sell a product for $100 and the buyer pays the price via fiat, your $100 will always be worth $100. But if you take this payment through Bitcoin, then if Bitcoin pump 1000 dollars, you will gain a few more dollars by increasing that 100 dollars, then it will be worth more than 100 dollars. but if bitcoin price drop $1000 the $100 also will drop by a few dollars and then it will carry some less value of $100. So the profit and loss of the business plays a role in Bitcoin in many ways

[leonair]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

Bitcoin payment is like any other form of payment, just like paying with fiat. So payment gateway or method has nothing to do with the profitability of your business. If you want to profit in your business try and venture into a business that us profitable.
If you want to accept Bitcoin, conduct a survey among your customer base and ask them if they would want to be paying with bitcoin. Their replies will enable you make a better decision.

By keeping Bitcoin as a payment method, Bitcoin will work for personal profit and loss despite normal business profits. Because if you sell a product for $100 and the buyer pays the price via fiat, your $100 will always be worth $100. But if you take this payment through Bitcoin, then if Bitcoin pump 1000 dollars, you will gain a few more dollars by increasing that 100 dollars, then it will be worth more than 100 dollars. but if bitcoin price drop $1000 the $100 also will drop by a few dollars and then it will carry some less value of $100. So the profit and loss of the business plays a role in Bitcoin in many ways

The matter has been presented very nicely.  It basically works like this. But if we go to consider another aspect, when someone does a business, he sells his company's products constantly and supplies the products again with that distorted money. So business don't keep money for long time they always use money and try to earn so when a businessmen  sells a product for business purpose and accepts bitcoin as payment then of course he doesn't hold that bitcoin for a long time he again supplies the product through bitcoin  will give  So the pump and dump of Bitcoin won't be of much effect for him. But it is true that as long as those bitcoins remain in their funds, their funds will likely remain pump or dump

[coinerer]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

Bitcoin payment is like any other form of payment, just like paying with fiat. So payment gateway or method has nothing to do with the profitability of your business. If you want to profit in your business try and venture into a business that us profitable.
If you want to accept Bitcoin, conduct a survey among your customer base and ask them if they would want to be paying with bitcoin. Their replies will enable you make a better decision.

By keeping Bitcoin as a payment method, Bitcoin will work for personal profit and loss despite normal business profits. Because if you sell a product for $100 and the buyer pays the price via fiat, your $100 will always be worth $100. But if you take this payment through Bitcoin, then if Bitcoin pump 1000 dollars, you will gain a few more dollars by increasing that 100 dollars, then it will be worth more than 100 dollars. but if bitcoin price drop $1000 the $100 also will drop by a few dollars and then it will carry some less value of $100. So the profit and loss of the business plays a role in Bitcoin in many ways

The matter has been presented very nicely.  It basically works like this. But if we go to consider another aspect, when someone does a business, he sells his company's products constantly and supplies the products again with that distorted money. So business don't keep money for long time they always use money and try to earn so when a businessmen  sells a product for business purpose and accepts bitcoin as payment then of course he doesn't hold that bitcoin for a long time he again supplies the product through bitcoin  will give  So the pump and dump of Bitcoin won't be of much effect for him. But it is true that as long as those bitcoins remain in their funds, their funds will likely remain pump or dump

This is an important topic to discuss but as long as a merchant owns that Bitcoin, since Bitcoin is constantly going up and down in value, Bitcoin payments will always have some effect, be it positive or negative. In that case the less time a merchant hold those bitcoins the less chance of profit or loss but if a merchant hold longer then there will definitely be a profit and loss side but generally no businessman holds his money for a long time as you have already said.

[Dr.Osh]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

the first thing you need to know is, accepting bitcoins is a profitable thing for your business. That's because, the selling price of the business you are selling at the price of bitcoin is equal to the price of the dollar at that time. however, accepting bitcoins as one of the payments to your business, widens your consumer reach, namely because you are also targeting cryptocurrency users.

You're afraid because bitcoin is very volatile, so why don't you immediately exchange the crypto assets you receive for stablecoins? it will make your doubts disappear. You can also directly exchange it for dollars or fiat. However, many people are expanding their business by accepting popular cryptos like bitcoin, Ethereum, BNB, and stablecoin as payment alternatives.

[Bobrox]

Many people have changed their payment currency as influencer from PayPal to Bitcoin, I don't think difficult for beginner if opening their business accepted Bitcoin as payment currency and have transparent, faster then profitable due price up later if priority with Bitcoin as payment. I am active selling some games item and several my costumer have different with my countries, I adopted Bitcoin last than one years and most profitable then I use PayPal because many my costumer made cheat by dispute all transaction trough PayPal have available for doing it.

I think your business will grow up when accepting Bitcoin as payment method, there are possibility earn double profit if your Bitcoin fund hold and not convert as soon possible after receiving payment from your costumer.

[Minecache]

I think your business will grow up when accepting Bitcoin as payment method, there are possibility earn double profit if your Bitcoin fund hold and not convert as soon possible after receiving payment from your costumer.

I also believe that when a business adds a payment option, it attracts more customers, and that's good for the business. But to get hold of that bitcoin is very difficult, if he can hold all the bitcoins that customers pay, he will no doubt use bitcoins for his business. To operate and keep a business running, its capital must always be in circulation, not just holding and doing nothing. If he wants to own many bitcoins, he can buy them anytime he has money, there is no need to wait for customers to pay.

[Ryu_Ar1]

I as a crypto community are of course very happy that their business accepts bitcoin as a means of payment. I will try if someone around does it, it will be much easier, practically using this method, even true, there will be more interest because bitcoin is now well known to their young people already have bitcoins in wallet to invest.

From the business that is being run, of course, you have to be prepared for everything including extra reserve money as liquidity to maintain stability in the business, at this time I am still designing how this will also be implemented in my business which was previously planned, including from stablecoins and bitcoin which is the top priority.

The problem perhaps in this case is when a system like this by accepting payments against bitcoin in some countries is tantamount to going against regulation. This condition allows us to be a little doubtful because indeed we also have to think long term about our business.
Instead of rushing into doing it to break the rules, maybe they'll think about not doing it.
But I think if there really is a business that both wants payment with bitcoin I think it still can.
I have a business with services where some of my friends want payments to make bitcoins and I accept that even though the regulations in my country are still not allowed, but if me and the consumer agree with the payment I think it's not a problem.

[crunck]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

I think it will only benefit without harm because by adding payment options, your business will attract more customers. If you are afraid of bitcoin volatility, you can add an option with a stable coin, I think people will be willing to spend a more stable coin than bitcoin. Since people are trying to keep their bitcoins instead of spending them, accepting bitcoin payments won't be any more efficient than stablecoins, IMO.

[coiningz]

There are will not be a lot of crypto purchases but it will be good for reputation & PR to accept crypto as for me

[maxreish]

They say it you take the risk of crypto volatility, then why not accept bitcoin payments?
 But you have to consider some factors before proceeding with your plans like the legality of Bitcoin in the jurisdiction of the business, the demand from customers for Bitcoin payment options and of course the knowledge of your consumers/ customers about bitcoin payments.

[Natalim]

They say it you take the risk of crypto volatility, then why not accept bitcoin payments?
 But you have to consider some factors before proceeding with your plans like the legality of Bitcoin in the jurisdiction of the business, the demand from customers for Bitcoin payment options and of course the knowledge of your consumers/ customers about bitcoin payments.

I believe that OP has done the research already and probably he found out that it was legal in their place. But yes, if we think about the demand and people's awareness of accepting Bitcoin, that can be a big challenge for him. It was indeed not profitable for business at this time but I know the demand will increase in the future due to continuous crypto adoption. It really takes time for him to see good results from accepting Bitcoin and he should invest also more in marketing just to spread more awareness to their community that he is accepting Bitcoin.

[Belarge]

Yes it will be very profitable, if Bitcoin is accepted globally it will sure help for more sales of business commodities, it will reduce the high risk of been robbed though cash and transfer,
 it will also create a relationship between foreign and local traders, no need for trying to go the bank to change currency, if Bitcoin is accepted all that is needed to paste address and the Bitcoin will be with ease (Transaction Successful)

[Broadanbig]

Accepting bitcoin as a means of payment is not a problem but you must know that the bitcoin market is volatile and before taking the decision of accepting bitcoin as payment you must have weighed the options available by noting the one that best suits you better. If I were you, I would take charges based on dollar value to bitcoin so that it does not have effect on the business and like a previous poster said, you should do that with your profit ie holding it in bitcoin and investment should be in cash while do you could restock your goods then that way, you could be able to hold for a long time while doing your business.

[Ibrahim60]

If you have enough knowledge about cryptocurrency then go for it. Accepting Bitcoin for business is really profitable as people want to pay without any hassle. Bitcoin is fast and secure as a payment method and it is also easy to handle for sellers also. But it is highly recommend to think about legality of Bitcoin in your country. Otherwise you can face some difficulties in your business.

[Xampeuu]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

I think it's good to accept bitcoin at this time because it can facilitate the payment process in your business, but it would be even better if we had double capital to support your business, because otherwise we would have difficulty buying merchandise for resale, so that way it is hoped that we will have a double profit, namely the profit from our selling goods and the second profit from bitcoin investment.

[xSkylarx]

What others do is convert their bitcoin immediately or on a daily basis to their own fiat, but most others just leave it and start holding it until they need it, whether it's a loss or a profit. They are okay with it. Though money is really essential to the business as you need to buy your product again to restock, so you need to convert it immediately if you don't want to lose money or if you don't want to gain profit from its volatility.

[Mr. Magkaisa]

   -  Of course, that will be profitable when the value of Bitcoin increases, and when its resistance in the market is easy, your income from your traditional business that you connected to bitcoin is also your income from this method.

As long as you always think that the volatility of bitcoin is the reason why its market goes up and down every minute or hour depending on the demand and its movement in the market. And also because of this, it is our advantage as well of getting profit in the future.

[Mauser]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

It is a bit hard to give a general answer here without having more information about your business. What kind of products are you selling on Facebook/your own website and are selling only online or also in stores? In my opinion any online store should accept bitcoins these days to be more attractive for the consumers. Also if you are selling products globally you are probably involved in foreign currencies involved that also have a high volatility compared to your base fiat currency. Bitcoins would be a good alternative to all the other currencies that customers could pay in. It really depends on how your sales usually look like and in how many different currencies you deal. There are a few ways you could deal with the risk of losing money in bitcoins or other fiat currencies. The first one would be to exchange all the money back to your own fiat currency each week, like this you reduce the risk of making a loss on your sales. Another option would be if you have suppliers that you need to pay that you could pay them directly in bitcoins. Like that you would only move the bitcoins around and also don't have a lot of risks.

[pantek talacuik]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

I think it's good to accept bitcoin at this time because it can facilitate the payment process in your business, but it would be even better if we had double capital to support your business, because otherwise we would have difficulty buying merchandise for resale, so that way it is hoped that we will have a double profit, namely the profit from our selling goods and the second profit from bitcoin investment.

The hope of getting double profits is what many people really want until now, this illustrates that you can produce from all different sides, but you have to study extra and have big thoughts for all of this. I also want that but I've been down with all of this because it didn't go according to plan.

[Casdinyard]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

this was a problem of the past. As what others have said here this can only be a major problem to you if you have a business with a static price advert that needs to remain that way to the length of your business. But most online enterprises nowadays, especially ones that use cryptocurrencies as a payment method sees businesses going under the rug over bitcoin/cryptocurrency"s high volatility rate, and so they impose certain programs and parameters that automatically update depending on bitcoin's value, sometimes even real-time. So if you are looking to set up a business but is afraid of the implications that the high volatility of bitcoin may incur, I would suggest you look into these applications as well.

https://github.com/topics/crypto-price-tracker
This one is a good application you can use and implement on your online shopping mart.

[S A KHAIR]

What others do is convert their bitcoin immediately or on a daily basis to their own fiat, but most others just leave it and start holding it until they need it, whether it's a loss or a profit. They are okay with it. Though money is really essential to the business as you need to buy your product again to restock, so you need to convert it immediately if you don't want to lose money or if you don't want to gain profit from its volatility.

It is best to convert them to fiat as soon as he are received to avoid unnecessary fluctuations, as this is a very important amount for his business. For a long-term bitcoin investment, he can buy it with his fiat whenever he has lazy money to invest. We should make a clear distinction between capital for business and capital for investing in bitcoin.

[Gyfts]

Bitcoin could also technically turn into stablecoins automatically with many payment processors which means that you do not have to worry about the volatility as well. They could pay you with bitcoin if you want to include crypto users, but the moment they do, your money will turn into USDT which could be turned into USD into your bank account. That is how many people do it, so that they do not have to face the troubles of bitcoin or crypto volatility.

I believe that it's by far the best method for a person in business, because it allows them to know their finances, anyone with dubious finances would fail in the business world and won't grow.

Doesn't make sense for a business to take crypto if they're just converting it into stablecoins the moment they receive it. If it's a small business, the fees these payment processers charge them will take up some portion of revenue. And I would never recommend people use stablecoins. You're better off using your local currency if all you're going to do is convert the crypto into another currency.

Obviously there are businesses that take crypto and immediately convert it. But they're usually larger corporations that find it profitable to take in business for crypto users and will eat the cost of the conversion fees. A smaller business doesn't have a chance.

[coinerer]

What others do is convert their bitcoin immediately or on a daily basis to their own fiat, but most others just leave it and start holding it until they need it, whether it's a loss or a profit. They are okay with it. Though money is really essential to the business as you need to buy your product again to restock, so you need to convert it immediately if you don't want to lose money or if you don't want to gain profit from its volatility.

It is best to convert them to fiat as soon as he are received to avoid unnecessary fluctuations, as this is a very important amount for his business. For a long-term bitcoin investment, he can buy it with his fiat whenever he has lazy money to invest. We should make a clear distinction between capital for business and capital for investing in bitcoin.

Since this is a business, the merchant should convert to stablecoins as soon as they receive them, so that if the price of Bitcoin falls, it will not harm the business.  In this case, a customer can easily make payment using Bitcoin but there will be no loss to the business. But if the merchant can accept the risk then he can hold it in bitcoins as if the price of bitcoins increases then his amount will also increase.

[Negotiation]

Bitcoin will be profitable for businesses because bitcoin is not a stable currency so the business will improve with the increase in value of bitcoin. Bitcoin is the digital cryptocurrency that has become extremely profitable for both beginners and professionals. Many people are making trading money from bitcoin because of the trading volume available. This automatically creates exciting possibilities for traders with the ability to make quick decisions and reap the benefits quickly at any time.

[redsun114]

Ah, so you are scared about the volatility but what about those crypto exchanges and crypto gambling businesses? A lot of them are still doing well though I know there are times where cryptos are down but as long as you won't liquidate your coins then you will be just fine. Once they recover, they can also increase more so your profit's are going to double or triple than a normal business that accepts fiat and stable digital currencies.

The initial steps for accepting crypto in a business would be is to familiarize yourself about cryptos like on how to operate a crypto wallet. Your success will still depend on the scheme of your business so don't blame cryptos once you fail.

[tjtonmoy]

Here's what I can tell from my experience. I started a rice business and started accepting payments in crypto. Not only in BTC but in all kind of crypto and stable coins which are reputable on the market. I was doing great.
First thing to keep in mind that, if you ever choose to move on physical business rather than online business, you need to have a fast transaction method available.
Accept whatever your customer is choosing for the payment. BTC, BUSD, USDT, BNB, TRX and so on. You can convert them to BTC later and keep holding for the future. You may need some extra for conversion fee, so charge accordingly. This will give your customers freedom and options to choose from. It will increase the user for sure.
Second is the money management. You need to make a plan on how you are going to expand your business with this money and also keep some for the future hodling. So be sure to hodl some and withdraw what you need to keep your business running.

Store them in a safe place so that you won't lose them.

Hope this will help. This is from my personal experience. And one last thing. If there's any legal issue coming from the government, then stop immediately. Don't risk it.

[Ebede]

It is good to use Bitcoin as a payment option especially for a business that have to do with a different kind of countries and being exposed and advertised who is social media such as Facebook telegram Instagram Twitter and there's so many of other social media's that you can advertise your business so the fastest means of payment should be with Bitcoin or we the crypto coins so I will support search that payment of any online she will made with Bitcoin

[Mate2237]

It is a good idea but another question might arise again, does Facebook accept bitcoin as a payment option when you want to create ads? Because the last time when I tried creating a Facebook page for a friend when it was clicking the payment option, I didn't see bitcoin has a payment option. I saw only USD, EURO and NAIRA from my country's end. If you want to accept BTC in your business then you don't have to look the volatility of BTC  because that the nature of it. So as business person it is you will know how to manage the situation at hand.

If you want to add BTC in your social media pages, you can manually state in there even though it is not in app or the site for people or viewers to know that you also accept BTC.

[cozytrade]

Bitcoin will be profitable for businesses because bitcoin is not a stable currency so the business will improve with the increase in value of bitcoin. Bitcoin is the digital cryptocurrency that has become extremely profitable for both beginners and professionals. Many people are making trading money from bitcoin because of the trading volume available. This automatically creates exciting possibilities for traders with the ability to make quick decisions and reap the benefits quickly at any time.

I think it's a misconception that investing in Bitcoin will always make money.  While investing in Bitcoin if the price of Bitcoin goes up then you will make money from it. And after investing in Bitcoin if the price of Bitcoin goes down a lot then there is fear of losing some money. But I don't think anyone has ever lost money by investing in Bitcoin.  I think there is no chance to lose this money.

[inthelongrun]

It is a good idea but another question might arise again, does Facebook accept bitcoin as a payment option when you want to create ads? Because the last time when I tried creating a Facebook page for a friend when it was clicking the payment option, I didn't see bitcoin has a payment option. I saw only USD, EURO and NAIRA from my country's end. If you want to accept BTC in your business then you don't have to look the volatility of BTC  because that the nature of it. So as business person it is you will know how to manage the situation at hand.

If you want to add BTC in your social media pages, you can manually state in there even though it is not in app or the site for people or viewers to know that you also accept BTC.

Facebook is an American company and there are only 2 countries (El Salvador and the Central African Republic) so far that lawfully accept bitcoin as a legal tender so we may not see a bitcoin payment setting on these big social media giants. OP can easily mention it in its posts though.

Some business establishments convert bitcoin payments into fiat right away to avoid its volatility. But personally, if I am the one owning the business and it is still small, I will HODL bitcoin payments and only convert it at least in 2025 or after the halving year. 

[Hamza2424]

Dear Op, no one is able to give a perfect answer as we can only explain the advantages and disadvantages of accepting BTC, as in my view if you do accept BTC for your freelancing then you are in a 90% profit situation. For example, you can collect funds worldwide with no issues, less transaction speed, instant payments etc etc. You can attract more audience as now there is no need of the worries for the withdrawals and payments Bitcoin is already handling it. There is just one Demerit point and that demerit in your views is also a major +merit point in my views. Market Volatility if you can hold bitcoins then bro it's your direct investment and believe me on hold for a couple of months you can enjoy the huge returns it can ve vice versa but hold is an option loss as well.

[nimogsm]

Cryptocurrency can be accepted as payment for your goods,but the main price for the goods must be indicated either in your national currency and only as a secondary price already in Bitcoin.Since the price is different every day,the buyer needs to declare the price in the BTC personally.So far, this is only possible, or use automatic payment services that convert cryptocurrency themselves at the exchange rate.

[JayJuanGee]

It would be most profitable for your business if the BTC you'll be accepting as payment is for a long term investment purpose, that is every payment received in BTC stays in the wallet for at least a minimum of 4-5 years, then it would be profitable for your business because BTC delivers good returns in the long run.

BTC would surely be good for your business because it would attract more customers for you, people that are looking for ways to spend their BTC would see your business as a good option, and that will increase customers for you. If you do not want to hold BTC because of volatility, you can as well accept it through a payment gateway and receive BTC payments in the currency you choose.

I don't think there is any other downsides to an addition of BTC payment option in your business, except it is unlawful where you reside.

I also know that it is definitely profitable to hold Bitcoin for the long-term, but in this case, my business needs to keep my capital in a cycle to purchase products or goods. I think it would be better to use a payment gateway for business through which Bitcoin to other stablecoins or currencies can be converted immediately. Because if you look at the current situation, only 4.2 percent of people around the world use cryptocurrency, so holding Bitcoin payments for a long time can be risky for business. And can you please suggest me some reliable payment gateway which is also easy to use.

It is questionable regarding whether OP is still seriously considering this topic, and surely anyone considering whether to accept bitcoin (or other crypto currencies) as a means of payment would need to consider a variety of factors, and surely the easy way would just be to accept bitcoin as a payment method and then just to convert it to local fiat.. so that just creates an option for customers to pay in bitcoin.

A more serious way to consider bitcoin is whether any of us believes in bitcoin as an investment, so if we are accepting bitcoin in our business, that is merely as a way to supplement our already having had established an interest in bitcoin as an investment.

Once we consider bitcoin as an investment, then our determination to add bitcoin as a payment option would merely be as a means to provide support to the whole bitcoin space in order to promote the adoption of bitcoin, and surely such a decision may not necessarily pay off financially, and it also might be a lot of work to keep up with and to maintain (and to learn along the way).

The more that you learn about bitcoin, the better that you are likely able to figure out some balance in regards to how you might want to invest in bitcoin or to allocate your time, energies, psychology and money into bitcoin, and none of us are likely going to come to the same conclusions in regards to how we balance our allocations.

I am not even suggesting that anyone necessarily needs to plan to lose money and time because s/he is including bitcoin as one of the payment options; however, there may be times in which decisions need to be made in regards to how much any of us want to learn about bitcoin, and whether we might consider that there is any need to learn about shitcoins too... in terms of how we might choose to accept payments and then if some customers (or potential customers) might influence our decisions regarding whether to accept other forms of payment, to hold value in other ways or whether to convert into either bitcoin or into fiat (and in what proportions based on our own tolerances for volatility and/or considerations about whether any of our expenses might be paid in a form that is other than our native fiat).  There are ways to attempt to lessen the levels of volatility, but we might not be able to completely escape volatility either, and surely, there are timelines in which cash might flow into a business (or other ways that we receive cashflow), and there are timelines in which expenses need to be paid, can be deferred or are discretionary... business related expenses, other living related expenses or even consumption decision expenses.

Sometimes a person will get into bitcoin as an investment by dabbling with it, so there could be easy ways to get into bitcoin and to get involved in bitcoin that lead to further levels of investment and adoption, but the earlier stages might merely involve transacting in bitcoin and providing payment options or even to exercise such payment options if someone might be patronizing businesses that accept bitcoin.. do we want to spend our bitcoin or not?   I recently started keeping some value on BlueWallet, and we also know that Cash App had recently claimed to be able to accept either bitcoin payments or lightning network payments, and in the last couple of days, I sent two different payments of around 122k satoshis each (less than $30 each) from BlueWallet's lightning network to Cash App, and both of those payments have not been received by the recipients, and still show in my BlueWallet as "Payment in transition," so part of my point is that sometimes it can be frustrating as fuck to have to deal with some interface matters that had previously been considered as easy, and then all of a sudden some payments do not go through and then some concerns will develop - especially if those were to come up in the process of engaging in transactions that are meant to be part of a business.  In my situation, my transactions were with family/friends, so there is not an issue of trust (or loss of credibility), but sometimes in the business context there can be questions regarding whether the other side of the transaction is being honest in regards to having had received the payment or if there might be other concerns about the payment in terms of losing the amounts forever into the ether... in the event that the payments cannot be recovered.

[boyptc]

Cryptocurrency can be accepted as payment for your goods,but the main price for the goods must be indicated either in your national currency and only as a secondary price already in Bitcoin.Since the price is different every day,the buyer needs to declare the price in the BTC personally.So far, this is only possible, or use automatic payment services that convert cryptocurrency themselves at the exchange rate.

There will be for sure an automatic converter if OP pushes for this type of payment method for his customers. As he's aware of how volatile bitcoin is then, the price of any goods or products that he'll sell on his business will vary based on the market's status and pricing as it changes most often.

Talking about the profitability of the business by just accepting bitcoin won't really give that result. It should be the business in itself that's being profitable whether he accepts or not bitcoin on it.

[Strongkored]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

I think those who accept Bitcoin as payment in their business are not to keep the BTC as an investment asset but directly exchange it for fiat and the decision to include BTC in one of their business payment systems is a form of opportunity to also get customers from people who like payments with BTC, so if you want to receive BTC in one of your business types, you will immediately exchange it for fiat as a form of protection from BTC volatility which can reduce your profits.

[Rockstarguy]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

Everything depends on you to make a choice on how the volatility will affect or play a good role in your business. If your goods are in fixed price and you receive payment with bitcoin and the price of bitcoin drops, and you feel if this happens it will affect your business. I will advise you no to do what you feel it will affect your business if their is shortage. But if your business is big and you have enough money at hand and volatility won't be a problem to you and even if the price falls you can have patience to wait till it comes up then it will be good to accept Bitcoin as payment.

[BigBos]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

it will be very profitable, moreover, you will have a lot of support from the community for your merchandise, volatility issues must be considered because it may be a measure of loss or profit in your business, I thought so for a while. But maybe what can be a solution for this is that you have a benchmark price with a relatively stable value even though the payment uses bitcoin, just like you adjust it with the fiat currency in your country or the dollar to set the value of goods and even so the payment must be in bitcoin. To protect your money, you may, when someone buys, exchange it directly for stablecoins or direct fiat currency to continue the production of your merchandise.

[Popkon6]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.

The business venture with Bitcoin is very good.  If you want to do business with Bitcoin then there are two suggestions for you.

First, you can hold Bitcoin long-term as the market for Bitcoin is volatile.  Because if you hold now you will surely succeed because the price of Bitcoin is increasing bit by bit.  It can be a part of your business dividend.
Second, it is a very good strategy for you to trade bitcoins in small amounts.  At present, the price of Bitcoin is going up and down, if you can trade at this time, you will definitely get benefits.  You can also exchange bitcoins through P2P and here too you will have benefits.

[Inwestour]

I am not even suggesting that anyone necessarily needs to plan to lose money and time because s/he is including bitcoin as one of the payment options; however, there may be times in which decisions need to be made in regards to how much any of us want to learn about bitcoin, and whether we might consider that there is any need to learn about shitcoins too... in terms of how we might choose to accept payments and then if some customers (or potential customers) might influence our decisions regarding whether to accept other forms of payment, to hold value in other ways or whether to convert into either bitcoin or into fiat (and in what proportions based on our own tolerances for volatility and/or considerations about whether any of our expenses might be paid in a form that is other than our native fiat).  There are ways to attempt to lessen the levels of volatility, but we might not be able to completely escape volatility either, and surely, there are timelines in which cash might flow into a business (or other ways that we receive cashflow), and there are timelines in which expenses need to be paid, can be deferred or are discretionary... business related expenses, other living related expenses or even consumption decision expenses.

Sometimes a person will get into bitcoin as an investment by dabbling with it, so there could be easy ways to get into bitcoin and to get involved in bitcoin that lead to further levels of investment and adoption, but the earlier stages might merely involve transacting in bitcoin and providing payment options or even to exercise such payment options if someone might be patronizing businesses that accept bitcoin.. do we want to spend our bitcoin or not?   I recently started keeping some value on BlueWallet, and we also know that Cash App had recently claimed to be able to accept either bitcoin payments or lightning network payments, and in the last couple of days, I sent two different payments of around 122k satoshis each (less than $30 each) from BlueWallet's lightning network to Cash App, and both of those payments have not been received by the recipients, and still show in my BlueWallet as "Payment in transition," so part of my point is that sometimes it can be frustrating as fuck to have to deal with some interface matters that had previously been considered as easy, and then all of a sudden some payments do not go through and then some concerns will develop - especially if those were to come up in the process of engaging in transactions that are meant to be part of a business.  In my situation, my transactions were with family/friends, so there is not an issue of trust (or loss of credibility), but sometimes in the business context there can be questions regarding whether the other side of the transaction is being honest in regards to having had received the payment or if there might be other concerns about the payment in terms of losing the amounts forever into the ether... in the event that the payments cannot be recovered.

I came across a case when companies signed a cooperation agreement, the currency of the agreement was the US dollar, and under this agreement the company was supposed to produce goods, but the difficulty was that the calculation had to be made upon completion of the order, and this took several months, since there was a large order for several hundred thousand items. And the production was in another country and the materials for production had to be bought for local currency (not US dollars). The result is that after completing the order, the customer paid for the order, but over these few months the national currency has strengthened significantly and the manufacturer has lost a significant part of the profit because of this.

Even so, there are very big risks when it comes to long lead times. In the case of paying in bitcoins, this can be even more significant, since its volatility is much higher. And in the case of this venture, they simply cannot afford such risks, since they cannot wait for the price of bitcoin to rise, they will need to exchange everything for fiat at once, since they need to pay taxes, pay wages to workers and pay utility bills, as well as to buy materials for the production of the following orders.

Perhaps if the company has large financial reserves and is looking for additional sources of investment, bitcoin can be accepted as a means of payment for this company, but in an economic crisis, there are probably not many companies that can afford it.

[serveria.com]

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

I look at it this way - any additional payment method gives me extra customers. I'm not sure what kind of business you're running: selling goods or services or something else and what is your profit margin as for some businesses currency fluctuations may be critical. There are some services which would process your crypto payments and convert them to fiat immediately after the transaction is made.

[Ayers]

...There is just one Demerit point and that demerit in your views is also a major +merit point in my views. Market Volatility if you can hold bitcoins then bro it's your direct investment and believe me on hold for a couple of months you can enjoy the huge returns it can ve vice versa but hold is an option loss as well.

Volatility will be very beneficial in investment, we invest in bitcoin because of this special feature of bitcoin. But when it comes to using bitcoin as a means of payment, that volatility is really a demerit because if you can't convert to fiat immediately, then chances are your profits will drop if bitcoin price drops. That will affect revenue as well as make it difficult to manage finance to maintain business operations, as capital is used for business, it cannot be held for a long time but needs to be rotated accordingly.

[bangjoe]

Cryptocurrency can be accepted as payment for your goods,but the main price for the goods must be indicated either in your national currency and only as a secondary price already in Bitcoin.Since the price is different every day,the buyer needs to declare the price in the BTC personally.So far, this is only possible, or use automatic payment services that convert cryptocurrency themselves at the exchange rate.

There will be for sure an automatic converter if OP pushes for this type of payment method for his customers. As he's aware of how volatile bitcoin is then, the price of any goods or products that he'll sell on his business will vary based on the market's status and pricing as it changes most often.

Talking about the profitability of the business by just accepting bitcoin won't really give that result. It should be the business in itself that's being profitable whether he accepts or not bitcoin on it.

Yes, of course there will be an automatic converter to see prices to maintain volatility in bitcoin or crypto itself, price fixing must be done for this.

Regarding profitability, I don't think it's based on bitcoin and or the currency used for transactions, it depends on the goods being sold because basically this is buying and selling where consumers will look for the goods they need, even though the OP uses Bitcoin as an option payment is not certain people will buy the goods if the goods being sold are goods that are not needed by the market and that is what will determine whether you can profit or not because if it is associated with fluctuations in bitcoin or other crypto we can peg the price with fiat currency to problem solving.

[JayJuanGee]

I am not even suggesting that anyone necessarily needs to plan to lose money and time because s/he is including bitcoin as one of the payment options; however, there may be times in which decisions need to be made in regards to how much any of us want to learn about bitcoin, and whether we might consider that there is any need to learn about shitcoins too... in terms of how we might choose to accept payments and then if some customers (or potential customers) might influence our decisions regarding whether to accept other forms of payment, to hold value in other ways or whether to convert into either bitcoin or into fiat (and in what proportions based on our own tolerances for volatility and/or considerations about whether any of our expenses might be paid in a form that is other than our native fiat).  There are ways to attempt to lessen the levels of volatility, but we might not be able to completely escape volatility either, and surely, there are timelines in which cash might flow into a business (or other ways that we receive cashflow), and there are timelines in which expenses need to be paid, can be deferred or are discretionary... business related expenses, other living related expenses or even consumption decision expenses.

Sometimes a person will get into bitcoin as an investment by dabbling with it, so there could be easy ways to get into bitcoin and to get involved in bitcoin that lead to further levels of investment and adoption, but the earlier stages might merely involve transacting in bitcoin and providing payment options or even to exercise such payment options if someone might be patronizing businesses that accept bitcoin.. do we want to spend our bitcoin or not?   I recently started keeping some value on BlueWallet, and we also know that Cash App had recently claimed to be able to accept either bitcoin payments or lightning network payments, and in the last couple of days, I sent two different payments of around 122k satoshis each (less than $30 each) from BlueWallet's lightning network to Cash App, and both of those payments have not been received by the recipients, and still show in my BlueWallet as "Payment in transition," so part of my point is that sometimes it can be frustrating as fuck to have to deal with some interface matters that had previously been considered as easy, and then all of a sudden some payments do not go through and then some concerns will develop - especially if those were to come up in the process of engaging in transactions that are meant to be part of a business.  In my situation, my transactions were with family/friends, so there is not an issue of trust (or loss of credibility), but sometimes in the business context there can be questions regarding whether the other side of the transaction is being honest in regards to having had received the payment or if there might be other concerns about the payment in terms of losing the amounts forever into the ether... in the event that the payments cannot be recovered.

I came across a case when companies signed a cooperation agreement, the currency of the agreement was the US dollar, and under this agreement the company was supposed to produce goods, but the difficulty was that the calculation had to be made upon completion of the order, and this took several months, since there was a large order for several hundred thousand items. And the production was in another country and the materials for production had to be bought for local currency (not US dollars). The result is that after completing the order, the customer paid for the order, but over these few months the national currency has strengthened significantly and the manufacturer has lost a significant part of the profit because of this.

Even so, there are very big risks when it comes to long lead times. In the case of paying in bitcoins, this can be even more significant, since its volatility is much higher. And in the case of this venture, they simply cannot afford such risks, since they cannot wait for the price of bitcoin to rise, they will need to exchange everything for fiat at once, since they need to pay taxes, pay wages to workers and pay utility bills, as well as to buy materials for the production of the following orders.

Perhaps if the company has large financial reserves and is looking for additional sources of investment, bitcoin can be accepted as a means of payment for this company, but in an economic crisis, there are probably not many companies that can afford it.

I doubt that long lead times necessarily create insurmountable obstacles in regards to whether transactions can (should or would be preferable to) be made in bitcoin, even if the transaction amounts might be denominated in dollars and then ultimately the value sent in bitcoin.  

Of course, the value of the transaction should be agreed at the time that it is sent, and perhaps even the method of sending needs to be agreed to and an agreement regarding who pays the fees, yet none of these considerations should necessarily be considered as insurmountable obstacles, and there are likely ways in which both parties would be able to benefit by transacting in bitcoin.  

Of course, it is up to each party to calculate whether they prefer to transact in bitcoin or if they want to use dollars or some other transaction medium, and there should be a presumption that the parties are ONLY going to transact in bitcoin if each of them independently perceive that it is either in their benefit to transact in bitcoin or that the costs of transacting in bitcoin do not outweigh the benefits (or potential benefits if all of the benefits might not be known at the time of the transaction).  

...There is just one Demerit point and that demerit in your views is also a major +merit point in my views. Market Volatility if you can hold bitcoins then bro it's your direct investment and believe me on hold for a couple of months you can enjoy the huge returns it can ve vice versa but hold is an option loss as well.

Volatility will be very beneficial in investment, we invest in bitcoin because of this special feature of bitcoin. But when it comes to using bitcoin as a means of payment, that volatility is really a demerit because if you can't convert to fiat immediately, then chances are your profits will drop if bitcoin price drops. That will affect revenue as well as make it difficult to manage finance to maintain business operations, as capital is used for business, it cannot be held for a long time but needs to be rotated accordingly.

I don't understand why volatility by itself would be any kind of major deal breaker because there are a variety of ways to deal with volatility, including figuring out how long to hold onto bitcoin before or after transacting with it, and so depending on the method in which bitcoin is held and the various transaction fees that might be involved, then volatility could become a concern in terms of creating more costs in the event that there are additional needs to convert back and forth depending upon how value is kept.

[Hamza2424]

I don't understand why volatility by itself would be any kind of major deal breaker because there are a variety of ways to deal with volatility, including figuring out how long to hold onto bitcoin before or after transacting with it, and so depending on the method in which bitcoin is held and the various transaction fees that might be involved, then volatility could become a concern in terms of creating more costs in the event that there are additional needs to convert back and forth depending upon how value is kept.

JJG believe it or not currently we are still stuck in the centralized thinking approach as a maximum of us take the BTC as the payment system and then again convert them back to local cash for easy finance management and accounts but it makes it worse and complex I think we should go with BTC without the fiat approach. As selecting the value of the service or product in Stoshi not in the fiat money that will highly reduce the volatility problems as now you are not concerned with BTC price in Dollar your concern is the selling product for bitcoin regardless of the market value.

[JayJuanGee]

I don't understand why volatility by itself would be any kind of major deal breaker because there are a variety of ways to deal with volatility, including figuring out how long to hold onto bitcoin before or after transacting with it, and so depending on the method in which bitcoin is held and the various transaction fees that might be involved, then volatility could become a concern in terms of creating more costs in the event that there are additional needs to convert back and forth depending upon how value is kept.

JJG believe it or not currently we are still stuck in the centralized thinking approach as a maximum of us take the BTC as the payment system and then again convert them back to local cash for easy finance management and accounts but it makes it worse and complex I think we should go with BTC without the fiat approach. As selecting the value of the service or product in Stoshi not in the fiat money that will highly reduce the volatility problems as now you are not concerned with BTC price in Dollar your concern is the selling product for bitcoin regardless of the market value.

Don't get me wrong.  For sure, if you are fairly new to bitcoin, it can take many years to figure out various systems in which you are able to feel comfortable in managing any bitcoin transactions that you make, and surely the larger the size of the bitcoin transaction (relative to your wealth or your investment portfolio or your floating cash), the greater concerns that you will have to manage volatility. I have been there myself several times, and maybe there are ways to consider bitcoin related transactions as part of a game in which you are figuring out a kind of good balance on a personal level, but still from my perspective, the mere fact that any of us likely need to deal with  various aspects of bitcoin's volatility should not rule out getting involved in bitcoin and figuring out ways to attempt to advantage ourselves from the volatility rather than considering volatility as an obstacle that is too great to penetrate.

From my perspective, we are a very long way before reaching a time in which we should be completely keeping our value in bitcoin, and surely there are some bitcoin HODLers who actually choose to enter into relatively high levels of bitcoin holdings and even holding all of their value in bitcoin, which I believe is less than practical for the overwhelming majority of normies.. so the folks who choose to completely (or near completely) hold their value in bitcoin are very much aberrations.. perhaps close to unicorn status?

For the vast majority of folks, income, cashflow and expenses are likely mostly denominated in fiat.. so if we want to try to create a decent amount of stability in our own lives in terms of finances and psychology, we need to keep a certain amount of value within the unit that we are expecting to be paying expenses on a regular basis, and surely 3 months would be a minimum that we should be projecting out our cashflow, but preferably we should have good ideas for our cashflow 6-24 months into the future with greater degrees of certainty on shorter periods, and it can take a decently long time to get systems in place in order to be able to project out cashflows, and surely the less complicated our cashflows, the less need to project out or even to keep a cushion (including various emergency funds).

Each of us has a right to NOT project out our cashflow and to just wing our finances by living paycheck to paycheck, but I would suspect that a lot of people are going to be better off when they make sure that they have decent understandings regarding how they are earning and spending their cashflows... and surely some folks need help when they are managing their cashflows too... but even people who are not very sophisticated are likely going to be in better positions if they know their cashflows including making sure while they are investing and building stages, that they are spending less than they are earning, but surely some people know that they are spending more than they are earning, and in those cases, they might be spending their value on investments or they may be spending their value on consumption or they may have a variety of spending habits which they may or may not have assessed whether they are spending in ways that are likely to increase their wealth or that they are sufficiently and adequately managing risks.

[Cookdata]

Cryptocurrency can be accepted as payment for your goods,but the main price for the goods must be indicated either in your national currency and only as a secondary price already in Bitcoin.Since the price is different every day,the buyer needs to declare the price in the BTC personally.So far, this is only possible, or use automatic payment services that convert cryptocurrency themselves at the exchange rate.

This things are not so difficult to implement, just like the way sellers do make used of invoice in shopping and paying of items, the same can be done with crypto, the QR codes are easier to make payments, the seller should mount it on the items they are putting for sales and the equivalent amount will be displayed on the buyer screen, not necessary that conversion should be required.

If I'm the seller and I sell small items that are not too costly, I will make them have my payment done in sats, it encourages buyers to think of Bitcoin in lower denominations than in larger caps, imagine telling customer to pay 2 bitcoin may sound too big for a small item even if it worth it in usd, it might discourage the buyer.

[suzanne5223]

JJG believe it or not currently we are still stuck in the centralized thinking approach as a maximum of us take the BTC as the payment system and then again convert them back to local cash for easy finance management and accounts but it makes it worse and complex I think we should go with BTC without the fiat approach. As selecting the value of the service or product in Stoshi not in the fiat money that will highly reduce the volatility problems as now you are not concerned with BTC price in Dollar your concern is the selling product for bitcoin regardless of the market value.

The approach you explained was only done by cryptocurrency users who only see Bitcoin as a means of expanding and making more money with their business because they are only into it for the greedy not for the beauty of the technology.
Despite the harm, their move may cause the market will still need them and we can't all have the same understanding of the Bitcoin market. However, i like the OP business concept.

[ancafe]

From my perspective, we are a very long way before reaching a time in which we should be completely keeping our value in bitcoin, and surely there are some bitcoin HODLers who actually choose to enter into relatively high levels of bitcoin holdings and even holding all of their value in bitcoin, which I believe is less than practical for the overwhelming majority of normies.. so the folks who choose to completely (or near completely) hold their value in bitcoin are very much aberrations.. perhaps close to unicorn status?

There is a difference between bitcoin HODlers who have large capital and those with small capital, for those with large capital they can take entries even though the price is relatively high, while for those who have small capital they are more likely to take opportunities when a correction occurs to buy, this difference is clear in the utilization of each -respectively, due to achieving stable profits that can be converted repeatedly into new purchases and that is why for those with large capital it is quite easy to set the standard Invest in bitcoin, even if you have to take an entry at a slightly higher price.

For the vast majority of folks, income, cashflow and expenses are likely mostly denominated in fiat.. so if we want to try to create a decent amount of stability in our own lives in terms of finances and psychology, we need to keep a certain amount of value within the unit that we are expecting to be paying expenses on a regular basis, and surely 3 months would be a minimum that we should be projecting out our cashflow, but preferably we should have good ideas for our cashflow 6-24 months into the future with greater degrees of certainty on shorter periods, and it can take a decently long time to get systems in place in order to be able to project out cashflows, and surely the less complicated our cashflows, the less need to project out or even to keep a cushion (including various emergency funds).

Everyone has to determine cash inflows and outflows, this stability must really be feasible which is projected to support daily needs using fiat, as long as the process goes on for months and after everything is stable, then people can place investment standards in bitcoin, for me there are simple steps to get us involved consistently in bitcoin investing by creating a balanced cash flow pattern. For example, for every 100% accumulative income, 50% is used for daily needs, 20% for savings and 30% for investment, thus the calculations carried out will revive three important sectors and not ignore basic responsibilities as fulfillment. The percentage of the amount of money collected is in accordance with the income of each individual and it is not cumulatively the same.

[Inwestour]

I doubt that long lead times necessarily create insurmountable obstacles in regards to whether transactions can (should or would be preferable to) be made in bitcoin, even if the transaction amounts might be denominated in dollars and then ultimately the value sent in bitcoin.  

Of course, the value of the transaction should be agreed at the time that it is sent, and perhaps even the method of sending needs to be agreed to and an agreement regarding who pays the fees, yet none of these considerations should necessarily be considered as insurmountable obstacles, and there are likely ways in which both parties would be able to benefit by transacting in bitcoin.  

Of course, it is up to each party to calculate whether they prefer to transact in bitcoin or if they want to use dollars or some other transaction medium, and there should be a presumption that the parties are ONLY going to transact in bitcoin if each of them independently perceive that it is either in their benefit to transact in bitcoin or that the costs of transacting in bitcoin do not outweigh the benefits (or potential benefits if all of the benefits might not be known at the time of the transaction).  

Most likely, these points can be taken into account by the parties, for example, payment can be made in bitcoin but at the rate on the day of payment, so that the parties receive exactly the amount that was prescribed in the contract. When the company works with payment in bitcoin, then over time all these points can be worked out, experience will appear and it will be possible to take into account a number of points that may affect one of the parties.

Payment in bitcoins will only be used if it is beneficial to both parties, if everyone can appreciate the benefits of it. This can be beneficial due to low fees, but may incur significant costs to convert it to fiat. All these points must be taken into account in order to evaluate the benefit.

[taufik123]

Most likely, these points can be taken into account by the parties, for example, payment can be made in bitcoin but at the rate on the day of payment, so that the parties receive exactly the amount that was prescribed in the contract. When the company works with payment in bitcoin, then over time all these points can be worked out, experience will appear and it will be possible to take into account a number of points that may affect one of the parties.

More precisely, this can use Bitcoin Gateway payments by utilizing several third-party E-commerce such as coinbase, Bitpay, etc.

With a Bitcoin gateway, companies can accept payments directly in Bitcoin without having to convert to fiat currency first.
This makes the payment process quicker and easier, and also reduces the costs associated with currency exchange processes.

Payment in bitcoins will only be used if it is beneficial to both parties, if everyone can appreciate the benefits of it. This can be beneficial due to low fees, but may incur significant costs to convert it to fiat. All these points must be taken into account in order to evaluate the benefit.

To make payments with lower fees and faster it is highly recommended to use the Bitcoin Lightning Network service. This will make transactions faster and cheaper and can be done with a small nominal.

To convert to Fiat, there are many third-party E-Commerce gateways as I mentioned above that can convert bitcoin to fiat at a low cost without bothering to sell manually, everything will be done automatically.

[JayJuanGee]

For the vast majority of folks, income, cashflow and expenses are likely mostly denominated in fiat.. so if we want to try to create a decent amount of stability in our own lives in terms of finances and psychology, we need to keep a certain amount of value within the unit that we are expecting to be paying expenses on a regular basis, and surely 3 months would be a minimum that we should be projecting out our cashflow, but preferably we should have good ideas for our cashflow 6-24 months into the future with greater degrees of certainty on shorter periods, and it can take a decently long time to get systems in place in order to be able to project out cashflows, and surely the less complicated our cashflows, the less need to project out or even to keep a cushion (including various emergency funds).

Everyone has to determine cash inflows and outflows, this stability must really be feasible which is projected to support daily needs using fiat, as long as the process goes on for months and after everything is stable, then people can place investment standards in bitcoin, for me there are simple steps to get us involved consistently in bitcoin investing by creating a balanced cash flow pattern. For example, for every 100% accumulative income, 50% is used for daily needs, 20% for savings and 30% for investment, thus the calculations carried out will revive three important sectors and not ignore basic responsibilities as fulfillment. The percentage of the amount of money collected is in accordance with the income of each individual and it is not cumulatively the same.

Your numbers are quite unusual, and also your way of specifying your numbers is kind of vague and even potentially misleading/confusing.

I would suggest that the vast majority of folks are not in a situation in which they can save/invest 50% of their income, so if you have that much ability to save/invest you are in a very strong financial position.  Now if you are in some kind of a sheltered situation in which many of your lodging and food expenses are covered, then maybe that could be a temporary situation - or surely it is possible to find some kinds of living arrangements that are not toiling in terms of the amounts if the cost of the location is being shared.  For many years, I used to sublet out portions of my living space, which caused my own living expenses to be way lower than other similarly-situated people of my then income level.

There are a lot of ways to classify out the ways that you use your cashflow, and I would surmise that the category of having a savings is merely a way of having a float in which that money could be used towards investing or used towards expenses depending on how much of a float that you want to maintain, and many people do have trouble even allocating more than 10% of their income towards investing.. even though it is healthy to have 10% to 20% (or more if possible) that can be invested on a regular basis.. perhaps keeping track monthly cashflow/expenses and then at least projecting out 3-6 months or maybe even projecting out up to 24 months is good.. with most of the focus being on making sure that the 3-6 months is pretty well understood and so the further out periods can be more vague and ballpark ideas, but still there should be abilities to identify if there might be some cashflow crunches that might happen 1 year or 2 years out based on information already largely known.

I doubt that long lead times necessarily create insurmountable obstacles in regards to whether transactions can (should or would be preferable to) be made in bitcoin, even if the transaction amounts might be denominated in dollars and then ultimately the value sent in bitcoin.  

Of course, the value of the transaction should be agreed at the time that it is sent, and perhaps even the method of sending needs to be agreed to and an agreement regarding who pays the fees, yet none of these considerations should necessarily be considered as insurmountable obstacles, and there are likely ways in which both parties would be able to benefit by transacting in bitcoin.  

Of course, it is up to each party to calculate whether they prefer to transact in bitcoin or if they want to use dollars or some other transaction medium, and there should be a presumption that the parties are ONLY going to transact in bitcoin if each of them independently perceive that it is either in their benefit to transact in bitcoin or that the costs of transacting in bitcoin do not outweigh the benefits (or potential benefits if all of the benefits might not be known at the time of the transaction).  

Most likely, these points can be taken into account by the parties, for example, payment can be made in bitcoin but at the rate on the day of payment, so that the parties receive exactly the amount that was prescribed in the contract. When the company works with payment in bitcoin, then over time all these points can be worked out, experience will appear and it will be possible to take into account a number of points that may affect one of the parties.

I question why you are so inclined to include periods of uncertainty, as if the deal needs to be renegotiated at various points in time, when it does not.  The parties likely have already agreed from the point in which the sale was made about the various terms to such a level that they don't need to agree to hardly shit.. the job is finished and delivered and no more negotiation is needed or even preferred - absent one of the parties not delivering on one end or the other... but that has nothing to do with using bitcoin as a transaction mechanism, but instead disputes that can arise in any business arrangement regarding quality of product/services... no additional dispute needs to be present merely because of volatility if they terms of payment had already been agree to..

Maybe we can discuss this in terms of some kind of a hypothetical.  Let's say that one of the parties makes customized beds, so the two parties agreed that there would be a purchase of 10 beds, that need to be delivered one month after the agreement, and the buyer agreed to buy the beds for $1k each, and he will sell them for $2k each.  The seller/builder of the beds requires 50% down that is paid upon the date of the sale (signing of a sales contract), and then the remainder of payment upon delivery (or there could be other payment terms, but let's make this simple).  The buyer pays $5k down payment using bitcoin at the time of the sale, and no problem right? They agree to how the payment is going to be made, and who is going to cover the fees. 

And then one month later, the 10 beds are delivered, and the buyer needs to pay for the beds right, and they already agreed that he was going to be paid in bitcoin.  They could have agreed to a bitcoin value, but more likely they would have agreed to a dollar value that is then converted to bitcoin so that the buyer will know how much to pay at the time of the delivery which is exactly equal to $5k plus whatever other ways that they had already agreed to any fees or who would pay the fees or whatever.  Where's the complications?  Sure the BTC price might have changed, but so what, the contract is denominated in dollars and the method of payment is agreed to be bitcoin... They figure out the amount to send right then, and they might have already specified that they use the fees that are depicted in the app or wallet that they use or maybe they agree to use the Bitstamp exchange rate for the time of payment. 

Now if the BTC price is moving around a lot at exactly the time of payment, they could agree to wait and to pay 24 hours later, or they could agree to take an average of the price over the past 12 hours or 24 hours.. and those parameters could be worked out in advance, or maybe if the beds are already delivered then the seller does not want to be fucking around with payments because he already did his part and he delivered the beds.

Payment in bitcoins will only be used if it is beneficial to both parties, if everyone can appreciate the benefits of it. This can be beneficial due to low fees, but may incur significant costs to convert it to fiat. All these points must be taken into account in order to evaluate the benefit.

Each person assesses on their own, so if the buyer does not want to use bitcoin to pay, and if the seller ONLY takes bitcoin, then they are not going to reach an agreement.  The same is true if the seller chooses not to take bitcoin, but if all of his competitors are taking bitcoin, but he is not, then if the buyer says that they want to buy in bitcoin, then the seller would need to convince the buyer to change his/her mind or perhaps to show something about his product/service that causes the buyer to want to change his/her preferred method of payment... Sometimes people have options to change their method of payment and sometimes they don't.  Sometimes people have options to change their method of payment, but they choose not to change their method of payment for a variety of reasons, including just maybe that they might find it difficult to set up and to get used to - including that even within the decision to start to accept bitcoin as a means of payment, the ways that it is set up or the processes might get easier.. but at the same time, there can be some reluctance to learn how to set it up or to make changes each time, and even if the system is set up, there can be some questions about whether it is secured and backed up, so even if it is working, there can be worries about holding a lot of value on a hot wallet or even needing to monitor that the price is going up or down, so it can take time to put systems in place in order to feel that there are not needs to monitor the price changes on an hourly basis.. and maybe just once a week or so... or once a quarter.

[RockBell]

Accepting bitcoin is not bad at all because its features fast transfer you in control of your asset so much cooler than that of fiat. The payment method has actually focused too much on fiat and its transaction, and that is what we are facing right now in my region since the implementation of the fiat policies with minimal fiat withdrawal and failed transfers everyone is currently suffering because of all these policies in my region they actually need diversification. Thank God, Bitcoin is already being accepted and the world is changing. so it's actually a profitable business.

[JayJuanGee]

Accepting bitcoin is not bad at all because its features fast transfer you in control of your asset so much cooler than that of fiat. The payment method has actually focused too much on fiat and its transaction, and that is what we are facing right now in my region since the implementation of the fiat policies with minimal fiat withdrawal and failed transfers everyone is currently suffering because of all these policies in my region they actually need diversification. Thank God, Bitcoin is already being accepted and the world is changing. so it's actually a profitable business.

Probably for the next 20 years to 100 years while we are transitioning between fiat systems and bitcoin system, and while we are likely having parallel systems in place, it seems quite practical that we are going to at least refer to values in terms of fiat values.  Yet, even if we are referring to fiat values, we do not necessarily have to interact with fiat systems in the event that we have more and more people who are willing to transact with us in bitcoin.... so surely it likely is going to take a long time (such as somewhere between 20 years to 100 years) to transition to a way in which a large number of the population is ready, willing and able to transact directly with bitcoin.. especially if currently, we still have less than 1% of the whole world's population that has value in bitcoin, and even those who have value in bitcoin, likely they are low coiners and do not have enough of their personal wealth in bitcoin. .since in the future (maybe 20 to 100 years?), we will have more people holding more value in bitcoin.. .and value will continue to gravitate more and more and more into bitcoin, even though while we are in the process of witnessing such value gravitating into bitcoin, it seems as if it takes a long time to see much if any progress.. especially when we see quite a few rich folks getting reckt as fuck in 2022.. through a variety of scams such as FTX, Terra/Luna, 3AC, Celsius, BlockFi, Genesis/Gemini/GBTC, Voyager, etc.

[noormcs5]

Accepting bitcoin is not bad at all because its features fast transfer you in control of your asset so much cooler than that of fiat. The payment method has actually focused too much on fiat and its transaction, and that is what we are facing right now in my region since the implementation of the fiat policies with minimal fiat withdrawal and failed transfers everyone is currently suffering because of all these policies in my region they actually need diversification. Thank God, Bitcoin is already being accepted and the world is changing. so it's actually a profitable business.

The only thing which is concerning for me is that governments do not accept bitcoin and if we start to accept bitcoin as a payment gateway in our business, governments have all the rights to take legal action against us, if they have prohibited the use of digital currencies.

Therefore i would suggest that consult any lawyer in your country before making use of bitcoin in your business. Yes, if there is no issues from the government level, then you can enjoy the benefits associated with bitcoin adaption.

[Ziskinberg]

Accepting bitcoin is not bad at all because its features fast transfer you in control of your asset so much cooler than that of fiat. The payment method has actually focused too much on fiat and its transaction, and that is what we are facing right now in my region since the implementation of the fiat policies with minimal fiat withdrawal and failed transfers everyone is currently suffering because of all these policies in my region they actually need diversification. Thank God, Bitcoin is already being accepted and the world is changing. so it's actually a profitable business.

The only thing which is concerning for me is that governments do not accept bitcoin and if we start to accept bitcoin as a payment gateway in our business, governments have all the rights to take legal action against us, if they have prohibited the use of digital currencies.

Therefore i would suggest that consult any lawyer in your country before making use of bitcoin in your business. Yes, if there is no issues from the government level, then you can enjoy the benefits associated with bitcoin adaption.

Might not put us in jail but it is possible that they will seize our Bitcoin. If it was not legal in our place, we never had to force it because it was hard to become the enemy of the authorities as they will surely take action. It was good for OP to stop doing this in order to have some peace of mind and make his life easier rather than to hide from the government because, at the end of the day, we are the ones who suffered most, not those who are in uniform.
That is why is is very important that we are aware of the situation around and laws implemented just to avoid any violation in order to keep safe and be guided.

[humanvelocity]

Simply NO. Unfortunately We haven't reached a point where cryptocurrency could ever be profitable for business. As we all have seen many companies accept bitcoin as payment but due to many reasons almost all of them have stopped. This could be either its because of unregulated money or it could even be because of constant value change of Bitcoin which will negatively effect the company.

[panganib999]

With high volatility rates and sky-high fees in when transactions are surging? I don't think so. Small businesses most especially will be the ones to suffer the most if they try implementing cryptocurrency payments. That's going to be another payment channel you will have to declare and maintain in your taxes, plus not a lot of people are into cryptocurrencies. Although most of these issues could be solved nowadays with a little coding so you can easily relate your price for products/services to the current price of bitcoin, I still don't think it's a wise move. As a gimmick yes bitcoin payments or crypto payments could work, but focusing on it will just be a waste of time, at least for me.

[ancafe]

_snip_

_snip_

I would suggest that the vast majority of folks are not in a situation in which they can save/invest 50% of their income, so if you have that much ability to save/invest you are in a very strong financial position.  Now if you are in some kind of a sheltered situation in which many of your lodging and food expenses are covered, then maybe that could be a temporary situation - or surely it is possible to find some kinds of living arrangements that are not toiling in terms of the amounts if the cost of the location is being shared.  For many years, I used to sublet out portions of my living space, which caused my own living expenses to be way lower than other similarly-situated people of my then income level.

There are a lot of ways to classify out the ways that you use your cashflow, and I would surmise that the category of having a savings is merely a way of having a float in which that money could be used towards investing or used towards expenses depending on how much of a float that you want to maintain, and many people do have trouble even allocating more than 10% of their income towards investing.. even though it is healthy to have 10% to 20% (or more if possible) that can be invested on a regular basis.. perhaps keeping track monthly cashflow/expenses and then at least projecting out 3-6 months or maybe even projecting out up to 24 months is good.. with most of the focus being on making sure that the 3-6 months is pretty well understood and so the further out periods can be more vague and ballpark ideas, but still there should be abilities to identify if there might be some cashflow crunches that might happen 1 year or 2 years out based on information already largely known.

Of course, it is impossible for everyone to be the same in determining the numbers for savings/investments, especially in the midst of an increasingly complicated life for the economy, these numbers come out based on my experience, so I try to calculate 100% full income. If everyone doesn't try harder to save/invest, then there will never be financial planning that can bring them to the gate of financial freedom, the relationship between the magnitude of the numbers is just a technical matter that can be changed according to the wishes and capabilities of each. Meanwhile, what I mean is only patterns and how to start saving/investing.

Regarding the size of the amount, it depends on the person who can manage it, because if done consistently the amount can slowly increase. Currently, to achieve financial independence (wealth), we must use money to balance, because there is no format and pattern that can be done if you don't have money to start, at least that's what I learned in business and investment life.

[JayJuanGee]

_snip_

_snip_

I would suggest that the vast majority of folks are not in a situation in which they can save/invest 50% of their income, so if you have that much ability to save/invest you are in a very strong financial position.  Now if you are in some kind of a sheltered situation in which many of your lodging and food expenses are covered, then maybe that could be a temporary situation - or surely it is possible to find some kinds of living arrangements that are not toiling in terms of the amounts if the cost of the location is being shared.  For many years, I used to sublet out portions of my living space, which caused my own living expenses to be way lower than other similarly-situated people of my then income level.

There are a lot of ways to classify out the ways that you use your cashflow, and I would surmise that the category of having a savings is merely a way of having a float in which that money could be used towards investing or used towards expenses depending on how much of a float that you want to maintain, and many people do have trouble even allocating more than 10% of their income towards investing.. even though it is healthy to have 10% to 20% (or more if possible) that can be invested on a regular basis.. perhaps keeping track monthly cashflow/expenses and then at least projecting out 3-6 months or maybe even projecting out up to 24 months is good.. with most of the focus being on making sure that the 3-6 months is pretty well understood and so the further out periods can be more vague and ballpark ideas, but still there should be abilities to identify if there might be some cashflow crunches that might happen 1 year or 2 years out based on information already largely known.

Of course, it is impossible for everyone to be the same in determining the numbers for savings/investments, especially in the midst of an increasingly complicated life for the economy, these numbers come out based on my experience, so I try to calculate 100% full income. If everyone doesn't try harder to save/invest, then there will never be financial planning that can bring them to the gate of financial freedom, the relationship between the magnitude of the numbers is just a technical matter that can be changed according to the wishes and capabilities of each. Meanwhile, what I mean is only patterns and how to start saving/investing.

Regarding the size of the amount, it depends on the person who can manage it, because if done consistently the amount can slowly increase. Currently, to achieve financial independence (wealth), we must use money to balance, because there is no format and pattern that can be done if you don't have money to start, at least that's what I learned in business and investment life.

Yep.. many of the formulas for investment work way better if you are able to generate cashflows in various ways, and some people try to get rich with other people's money, which is all fine and dandy if you don't get caught in some kind of downwardly spiraling situation in which you are not able to service debts.. so frequently, it can be helpful to have a variety of cashflow sources, even if many of them might not be cashflow positive for periods of time.. .so sometimes very smart people can be caught in the wrong direction when they overly complicate things and they are not able to identify how they might be generating their cashflows or what their expenses might be - including holding onto a sufficient cushion of cash (or otherwise liquid value) during times in which cashflow might be drying up, or expenses might be increasing.

[YUriy1991]

It can be beneficial for your business. I do believe in the future of digital currencies and adopting cryptocurrency for business is a good idea. The best thing to do is to first find out if there is any demand for Bitcoin among your customers. Poll them, discuss it with them, learn how to engage them. Then you can decide what percentage of your sales you should be willing to accept in BTC. If the answer is 10 percent, maybe you can start by accepting 0.01 bitcoin and increase that quantity as you grow your customer base.

[coinremitter]

It's a win-win game for you. Because you are not only opening the door for your domestic customers but in future, if you expand your business then you can easily accept payment in Bitcoin and also in other cryptocurrencies as well.

Apart from that you can easily transfer your payment into your wallet at the very lowest withdrawal fees.


https://coinremitter.com/

[ancafe]

Yep.. many of the formulas for investment work way better if you are able to generate cashflows in various ways, and some people try to get rich with other people's money, which is all fine and dandy if you don't get caught in some kind of downwardly spiraling situation in which you are not able to service debts.. so frequently, it can be helpful to have a variety of cashflow sources, even if many of them might not be cashflow positive for periods of time.. .so sometimes very smart people can be caught in the wrong direction when they overly complicate things and they are not able to identify how they might be generating their cashflows or what their expenses might be - including holding onto a sufficient cushion of cash (or otherwise liquid value) during times in which cashflow might be drying up, or expenses might be increasing.

Of course we will not recommend anyone investing using other people's money, because that will not provide guarantees regarding generating stable cash flows, say the worst scenario will occur after borrowing money, then the next problem will be much worse when you have to pay it off. Instead of maximizing cash flow, you're setting yourself up for new problems. Let's just simplify the investment/saving pattern, take the smallest part to start, bitcoin is a way for someone to achieve financial independence, even though it takes a long time because of the small capital correlation. But we can take advantage of this condition and see the right time to make purchases and do it regularly when profits have been obtained on a periodic basis.

Oya JJG, I want to listen to a little bit of a small correction process that is happening to bitcoin in the near future, is this a normal reaction or another sentiment from events that continue to be connected with the damn The Fed, is it related to interest rates or inflation avoidance patterns that will occur in that country, is there a connection?

[JayJuanGee]

It's a win-win game for you. Because you are not only opening the door for your domestic customers but in future, if you expand your business then you can easily accept payment in Bitcoin and also in other cryptocurrencies as well.

Apart from that you can easily transfer your payment into your wallet at the very lowest withdrawal fees.
https://coinremitter.com/

Hey coinremitter.  I don't really know much about your service; however, I think that it would be a much better practice if you were to refer members to another forum thread/post rather than to an outside link.. and you seemed to have had a forum write-up/post about your service in November 2019.. so that would be a good place to refer members and even to have outside links in that post/thread (which you did). 

I don't have any official forum authority, but it just seems to me to just be a better practice to not blanketly refer members to outside links absent some kind of context, which you did provide good context (and a sales pitch) in your November 2019 post (of course, you can edit/update your November 2019 post from time to time as needed, too). 

I am referring to this one:  https://bitcointalk.org/index.php?topic=5205257.msg53202200#msg53202200

Oya JJG, I want to listen to a little bit of a small correction process that is happening to bitcoin in the near future, is this a normal reaction or another sentiment from events that continue to be connected with the damn The Fed, is it related to interest rates or inflation avoidance patterns that will occur in that country, is there a connection?

I don't claim to be any kind of Bitcoin price analysis expert, especially when it comes to trying to figure out short-term BTC price moves, which can be all over the place.. and we do seem to have historical tendencies to get surprised in both directions, from time to time.. even though sometimes, it seems that we might have high levels of confidence in the direction of a trend, until it reverses.. which is not frequently clear when it will reverse, until after such trend reversal has already happened.

Since I have been studying the BTC space for more than 9 years, I have come up with a decent number of ideas and frameworks that seem to help me regarding many times that people try to make claims about what the BTC price is doing and why it is doing what it is doing, which also might include implications regarding where we came from (and why), where we are at and where we might be going, so no matter what it becomes a lot more difficult to understand what might happen in the short term than to have some greater confidence about longer term BTC price prospects or the ongoing strength of bitcoin's investment thesis.. especially referring to long term reasons to be in bitcoin, even if any of us might be scared of bitcoin, we still might want to make sure that we are in, and perhaps the more scared that we are would justify a smaller position size rather than not being in at all.

Frequently I have also fought against claims regarding bitcoin being correlated to equity markets or that the Fed controls BTC prices, and that kind of bullshit, even though we know that bitcoin does tend to react to various liquidity dynamics, and sometimes will react more extremely to high liquidity or low liquidity situations, such as when everyone is trying to get into dollars in March 2020, they were getting out of bitcoin, but then bitcoin sprung back way larger too.. which would be far from proclaiming that bitcoin is correlated to traditional markets, even if we cannot escape that in various short-term price moves we are going to experience some of the back and forth momentum dynamics, including bitcoin's performing in ways that do not align with proclamations by pro-bitcoiners that bitcoin is a "good store of value" - even while it is experiencing short term volatility that is more extreme than any other asset class - (I am not including shitcoins in this assessment that compares legitimate asset classes because shitcoins largely just correlate to bitcoin and piggy back on bitcoin price dynamics, since bitcoin is the leader in the "crypto" space to the extent anyone wants to attempt to suggest that there is any meaningful asset class that is called "crypto" rather than figuring out that bitcoin is the price leader in that class and it is erroneous to be attempting to assess "crypto" without figuring out bitcoin first).

Having said all of that, I get the sense that bitcoin's seemingly short term correlation to traditional asset classes, such as stocks will likely continue to have various periods of short term correlation, even though the fact of the matter remains that bitcoin is not correlated to those asset classes in any kind of meaningful way in terms of what it is and what are it's fundamentals in being an asset class that has never previously existed, and so the periods in which bitcoin has a step-ladder kind of upward shift in its price curve can happen at any time, and then bitcoin will go back to being "correlated" except for periods in which it may well jump up a bit.. whether that is 10x, 5x or even some smaller variation, such as 2x, and then it will go back to looking like it is "correlated" and the bitcoin naysayers, no coiners, precoiners, fence sitters, shitcoiners will bash on bitcoin and proclaim that it is correlated, and in the mean time wealth will continue to transfer into bitcoin while many folks don't seem to know what the fuck is going on, and sure none of what I am saying is guaranteed to happen, but surely it seems good to continue to accumulate (and allocate) value into bitcoin in order that you personally are able to continue to profit from ongoing transfer of wealth that frequently is difficult to identify as happening.. when it has been happening for close to 10 years, if not longer and there is no real evidence to show that the investment case for bitcoin is getting any weaker but instead is likely getting stronger rather than weaker and a decent number of normies will continue to get distracted into failing/refusing to invest/allocate into bitcoin or into selling whatever bitcoin that they had accumulated because they do not understand the value of the asset that they hold (referring to bitcoin).

So part of my point would be not to get too distracted by the various magical games played by the Fed and other various traditional financial/government institutions that are likely either desperate and/or trying to talk you out of your coins... even if they surely might have some short-term success in pushing or keeping the BTC price down, but there are no guarantees that they will be successful in that either.

[Mr.right85]

Accepting bitcoin is not bad at all because its features fast transfer you in control of your asset so much cooler than that of fiat. The payment method has actually focused too much on fiat and its transaction, and that is what we are facing right now in my region since the implementation of the fiat policies with minimal fiat withdrawal and failed transfers everyone is currently suffering because of all these policies in my region they actually need diversification.

Bitcoin for a fast means of payment! Well, that could be so as it depends on the product of the congestion of the network with the applied fee. The reverse would mean a much slower delivery time on transaction but the good news is, it's best for long distance payments.

Fiat do infact applies with fees too but, its far less and doesn't require any confirmation timing except in terms of a bad network.

About the new minimum on transactions as implemented in our country, bitcoin is a huge advantage but, its still not recognised is it. That's what makes it risky when faced with the law but, it isn't unlawful either. Don't know what situations one could get faced with but, its subject to the business owner on how to manage them affairs with respect to cryptocurrency.

[ancafe]

I don't claim to be any kind of Bitcoin price analysis expert, especially when it comes to trying to figure out short-term BTC price moves, which can be all over the place.. and we do seem to have historical tendencies to get surprised in both directions, from time to time.. even though sometimes, it seems that we might have high levels of confidence in the direction of a trend, until it reverses.. which is not frequently clear when it will reverse, until after such trend reversal has already happened.

And I'm sure that's not your typical, but the long discussion that fills the bitcointalk space and the explanation you give about bitcoin is enough to mark/recognize who JJG really is. It's hard to follow your long discussion if someone is not focused and doesn't have a broad understanding, because I'm sure anyone will find it difficult to provide arguments that are in accordance with the facts that happened, especially me?

Since I have been studying the BTC space for more than 9 years, I have come up with a decent number of ideas and frameworks that seem to help me regarding many times that people try to make claims about what the BTC price is doing and why it is doing what it is doing, which also might include implications regarding where we came from (and why), where we are at and where we might be going, so no matter what it becomes a lot more difficult to understand what might happen in the short term than to have some greater confidence about longer term BTC price prospects or the ongoing strength of bitcoin's investment thesis.. especially referring to long term reasons to be in bitcoin, even if any of us might be scared of bitcoin, we still might want to make sure that we are in, and perhaps the more scared that we are would justify a smaller position size rather than not being in at all.

Very often experience can bring someone to know more, that's why we are always taught by experience about how someone will grow and develop, the simplicity and risk contained in bitcoin makes people think about diversity, regardless of the long term or short term chosen as an investment model which is conducted. The fear that comes from ignorance, that's the biggest reason for doubts about bitcoin, then how can other people trust it, because these kind of people act on knowledge and know the long-term prospects of bitcoin in an ever-evolving technological format.

Frequently I have also fought against claims regarding bitcoin being correlated to equity markets or that the Fed controls BTC prices, and that kind of bullshit, even though we know that bitcoin does tend to react to various liquidity dynamics, and sometimes will react more extremely to high liquidity or low liquidity situations, such as when everyone is trying to get into dollars in March 2020, they were getting out of bitcoin, but then bitcoin sprung back way larger too.. which would be far from proclaiming that bitcoin is correlated to traditional markets, even if we cannot escape that in various short-term price moves we are going to experience some of the back and forth momentum dynamics, including bitcoin's performing in ways that do not align with proclamations by pro-bitcoiners that bitcoin is a "good store of value" - even while it is experiencing short term volatility that is more extreme than any other asset class - (I am not including shitcoins in this assessment that compares legitimate asset classes because shitcoins largely just correlate to bitcoin and piggy back on bitcoin price dynamics, since bitcoin is the leader in the "crypto" space to the extent anyone wants to attempt to suggest that there is any meaningful asset class that is called "crypto" rather than figuring out that bitcoin is the price leader in that class and it is erroneous to be attempting to assess "crypto" without figuring out bitcoin first).

The store of value is one of the hallmarks of bitcoin that many people know about and on the other hand this concept tends to be associated with long-term assets that can bring big changes to the store of money. While the pro-bitcoiners will continue to try to make bitcoin fall to a priceless price, thus playing any issue to bring it down, such as the case of inflation and interest rates played by the Fed, but various methods are used and in the end they failed to control it. This is where the privilege of bitcoin that we can be sure not found anywhere else. I also don't really like Shitcoin right now, for some reason we already know, so putting it in an asset class comparable to bitcoin can never be correlated, because the relationship and the power of maintaining the value of holding it are very different

Having said all of that, I get the sense that bitcoin's seemingly short term correlation to traditional asset classes, such as stocks will likely continue to have various periods of short term correlation, even though the fact of the matter remains that bitcoin is not correlated to those asset classes in any kind of meaningful way in terms of what it is and what are it's fundamentals in being an asset class that has never previously existed, and so the periods in which bitcoin has a step-ladder kind of upward shift in its price curve can happen at any time, and then bitcoin will go back to being "correlated" except for periods in which it may well jump up a bit.. whether that is 10x, 5x or even some smaller variation, such as 2x, and then it will go back to looking like it is "correlated" and the bitcoin naysayers, no coiners, precoiners, fence sitters, shitcoiners will bash on bitcoin and proclaim that it is correlated, and in the mean time wealth will continue to transfer into bitcoin while many folks don't seem to know what the fuck is going on, and sure none of what I am saying is guaranteed to happen, but surely it seems good to continue to accumulate (and allocate) value into bitcoin in order that you personally are able to continue to profit from ongoing transfer of wealth that frequently is difficult to identify as happening.. when it has been happening for close to 10 years, if not longer and there is no real evidence to show that the investment case for bitcoin is getting any weaker but instead is likely getting stronger rather than weaker and a decent number of normies will continue to get distracted into failing/refusing to invest/allocate into bitcoin or into selling whatever bitcoin that they had accumulated because they do not understand the value of the asset that they hold (referring to bitcoin).

In the end everyone wants to be seen as independent in getting financially or in other words rich. In the short term maybe bitcoin is correlated with stocks or traditional assets that you say, because both of them run with certain conditions that affect them, but in the long term bitcoin fundamentals in maintaining value almost nothing can offset, be it gold, stocks or assets other traditional. There is plenty of evidence for those who want to see the power of bitcoin in maintaining value and even if it has to go through cycles. The last 5, 7, 8 and 10 years are a portrait of bitcoin's journey for those who fail to understand that bitcoin is able to maintain asset value, so that this period will be full of regret for those who refuse to accept bitcoins.

So part of my point would be not to get too distracted by the various magical games played by the Fed and other various traditional financial/government institutions that are likely either desperate and/or trying to talk you out of your coins... even if they surely might have some short-term success in pushing or keeping the BTC price down, but there are no guarantees that they will be successful in that either.

I had been through some tough times on the road to financial stability, so didn't really care for the magic that traditional financial institutions, governments, and even Fed news were trying to deliver. Because almost a decade of involvement in bitcoin has provided ample evidence to keep cash flows more stable. Actually I intend to take a bigger share for the next investment period, like the pattern I explained in the previous post and refers to the level of financial ability to compensate.

[JayJuanGee]

I don't claim to be any kind of Bitcoin price analysis expert, especially when it comes to trying to figure out short-term BTC price moves, which can be all over the place.. and we do seem to have historical tendencies to get surprised in both directions, from time to time.. even though sometimes, it seems that we might have high levels of confidence in the direction of a trend, until it reverses.. which is not frequently clear when it will reverse, until after such trend reversal has already happened.

And I'm sure that's not your typical, but the long discussion that fills the bitcointalk space and the explanation you give about bitcoin is enough to mark/recognize who JJG really is. It's hard to follow your long discussion if someone is not focused and doesn't have a broad understanding, because I'm sure anyone will find it difficult to provide arguments that are in accordance with the facts that happened, especially me?

Well, if you remain interested in the bitcoin topic, then you can keep chipping away at it.  There is quite a lot to bitcoin, and surely, I tend to have some angles that are interesting to me and I have certain angles in which I like to attempt to attack (or address) certain issues, yet there are a lot of areas of bitcoin that I do not understand very well (such as some of the technical matters and even reading the code or being able to code), and to the extent that some of the bitcoin-related topics might include technical (or coding) angles, then I have to rely upon the opinions and the assessments of members who are more informed on those kinds of topics and who seem to be presenting some of those subject matters in ways that seem to be sufficiently fair and reasonable from what I do feel that I am able to grasp.

Since I have been studying the BTC space for more than 9 years, I have come up with a decent number of ideas and frameworks that seem to help me regarding many times that people try to make claims about what the BTC price is doing and why it is doing what it is doing, which also might include implications regarding where we came from (and why), where we are at and where we might be going, so no matter what it becomes a lot more difficult to understand what might happen in the short term than to have some greater confidence about longer term BTC price prospects or the ongoing strength of bitcoin's investment thesis.. especially referring to long term reasons to be in bitcoin, even if any of us might be scared of bitcoin, we still might want to make sure that we are in, and perhaps the more scared that we are would justify a smaller position size rather than not being in at all.

Very often experience can bring someone to know more, that's why we are always taught by experience about how someone will grow and develop, the simplicity and risk contained in bitcoin makes people think about diversity, regardless of the long term or short term chosen as an investment model which is conducted. The fear that comes from ignorance, that's the biggest reason for doubts about bitcoin, then how can other people trust it, because these kind of people act on knowledge and know the long-term prospects of bitcoin in an ever-evolving technological format.

Sure always be curious, attempting to learn, humble, and trying to engage in some level of critical thinking and skepticism in order that you can try your best to come to your own conclusions - including that some times there might be needs to change your mind, change your opinion, change your perspective/framework and/or change your application of what you know to your actions, including whether or how you might invest in order to accumulate BTC, how you might maintain your BTC stash if you feel that you have already accumulated a large enough stash, or how you might engage in liquidation behaviors whether all at once or just shaving some off from time to time... maybe try to make learning and involvement in bitcoin fun too.... if possible.

Frequently I have also fought against claims regarding bitcoin being correlated to equity markets or that the Fed controls BTC prices, and that kind of bullshit, even though we know that bitcoin does tend to react to various liquidity dynamics, and sometimes will react more extremely to high liquidity or low liquidity situations, such as when everyone is trying to get into dollars in March 2020, they were getting out of bitcoin, but then bitcoin sprung back way larger too.. which would be far from proclaiming that bitcoin is correlated to traditional markets, even if we cannot escape that in various short-term price moves we are going to experience some of the back and forth momentum dynamics, including bitcoin's performing in ways that do not align with proclamations by pro-bitcoiners that bitcoin is a "good store of value" - even while it is experiencing short term volatility that is more extreme than any other asset class - (I am not including shitcoins in this assessment that compares legitimate asset classes because shitcoins largely just correlate to bitcoin and piggy back on bitcoin price dynamics, since bitcoin is the leader in the "crypto" space to the extent anyone wants to attempt to suggest that there is any meaningful asset class that is called "crypto" rather than figuring out that bitcoin is the price leader in that class and it is erroneous to be attempting to assess "crypto" without figuring out bitcoin first).

The store of value is one of the hallmarks of bitcoin that many people know about and on the other hand this concept tends to be associated with long-term assets that can bring big changes to the store of money. While the pro-bitcoiners will continue to try to make bitcoin fall to a priceless price, thus playing any issue to bring it down, such as the case of inflation and interest rates played by the Fed, but various methods are used and in the end they failed to control it. This is where the privilege of bitcoin that we can be sure not found anywhere else. I also don't really like Shitcoin right now, for some reason we already know, so putting it in an asset class comparable to bitcoin can never be correlated, because the relationship and the power of maintaining the value of holding it are very different

There are certain mistakes that can be made in terms of how any of us might conceive of bitcoin, including that there can be long term bitcoiners who hold bitcoin, but they still do not really know what bitcoin is, beyond NGU (number go up) technology... There are also a lot of folks who hold bitcoin, but the fact of the matter is that they are really low coiners because they hold small amounts of value in bitcoin because they are afraid to allocate more value into bitcoin, so surely the low coiners are better off than the no coiners, but the low coiners might end up feeling regrets later because they ONLY realize and appreciate that they had underallocated value towards bitcoin for the wrong reasons.... and if BTC's value ends up going up (or should I say when?), then these underallocated (low coiners) will feel quite a bit of regret that they had not been more assertive in their bitcoin allocation rather than their whimpy mindset in regards to it...(perhaps a failure/refusal to study bitcoin more in order to attempt to understand the thing that they are investing into a wee bit MOAR better)... and I am not even proclaiming that there are any guarantees that bitcoin's price is going to go up.. but there are still ways to be somewhat aggressive in your investment into bitcoin without going overboard in terms of figuring out the possibilities of your own finances and psychology... so for example, I could say that the beginner could consider allocating anywhere between 1% and 25% of his/her quasi-liquid investment portfolio into bitcoin, and such person is clearly capable of allocating somewhere in the middle, such as 10%, but instead s/he purposefully chooses to ONLY allocate 1% into bitcoin, because s/he is too scared and too lazy to actually research into what bitcoin is... and maybe distracted into putting value into USA IBonds that earn "yield" or some other bullshit that hardly helps to attempt to appreciate that the reason that the US Govt is offering such high interest rates on its IBonds is because some countries are refusing to buy USA debt... so the USA has to offer high rates in order to attract investors who likely would be better off allocating way more into bitcoin instead of getting distracted into some investment areas that are likely not as good as they seem to be.
 

Having said all of that, I get the sense that bitcoin's seemingly short term correlation to traditional asset classes, such as stocks will likely continue to have various periods of short term correlation, even though the fact of the matter remains that bitcoin is not correlated to those asset classes in any kind of meaningful way in terms of what it is and what are it's fundamentals in being an asset class that has never previously existed, and so the periods in which bitcoin has a step-ladder kind of upward shift in its price curve can happen at any time, and then bitcoin will go back to being "correlated" except for periods in which it may well jump up a bit.. whether that is 10x, 5x or even some smaller variation, such as 2x, and then it will go back to looking like it is "correlated" and the bitcoin naysayers, no coiners, precoiners, fence sitters, shitcoiners will bash on bitcoin and proclaim that it is correlated, and in the mean time wealth will continue to transfer into bitcoin while many folks don't seem to know what the fuck is going on, and sure none of what I am saying is guaranteed to happen, but surely it seems good to continue to accumulate (and allocate) value into bitcoin in order that you personally are able to continue to profit from ongoing transfer of wealth that frequently is difficult to identify as happening.. when it has been happening for close to 10 years, if not longer and there is no real evidence to show that the investment case for bitcoin is getting any weaker but instead is likely getting stronger rather than weaker and a decent number of normies will continue to get distracted into failing/refusing to invest/allocate into bitcoin or into selling whatever bitcoin that they had accumulated because they do not understand the value of the asset that they hold (referring to bitcoin).

In the end everyone wants to be seen as independent in getting financially or in other words rich. In the short term maybe bitcoin is correlated with stocks or traditional assets that you say, because both of them run with certain conditions that affect them, but in the long term bitcoin fundamentals in maintaining value almost nothing can offset, be it gold, stocks or assets other traditional. There is plenty of evidence for those who want to see the power of bitcoin in maintaining value and even if it has to go through cycles. The last 5, 7, 8 and 10 years are a portrait of bitcoin's journey for those who fail to understand that bitcoin is able to maintain asset value, so that this period will be full of regret for those who refuse to accept bitcoins.

I think that there was a paper by Fidelity in 2014 or so, or maybe it was a bit later than that, and they had already recognized and appreciated that bitcoin was not correlated to any other asset class (I did a quick look and I could not find the article;.. maybe it was Ark investing that wrote the article?  I cannot remember, exactly)... Sure, bitcoin might appear to be correlated in the short term, but you are going to get yourself into trouble if you really buy into those correlation ideas when you are attempting to assess bitcoin as a possible long term investment.   In part, my point is that there have been decent articles and assessments made regarding bitcoin's value (investment) proposition that go back since when it was first starting to get a price, and it seems that some people come to see, appreciate and understand some of the value propositions sooner than others.

And probably, there is no need to attempt to "get rich quick" because it is likely that your chances to reach fuck you status become greater if you create a solid investment plan into bitcoin that includes your attempt to NOT lose your bitcoin, and under traditional investment maybe you might get to fuck you status in 30-40 years (and you might not even get there since value gets eroded under you on an ongoing basis); however, with bitcoin you may well be able to cut down your timeline in half towards 15-20 years, even though there still are not any guarantees, but it still seems like a good idea to have some kind of investment plan that includes bitcoin.

So part of my point would be not to get too distracted by the various magical games played by the Fed and other various traditional financial/government institutions that are likely either desperate and/or trying to talk you out of your coins... even if they surely might have some short-term success in pushing or keeping the BTC price down, but there are no guarantees that they will be successful in that either.

I had been through some tough times on the road to financial stability, so didn't really care for the magic that traditional financial institutions, governments, and even Fed news were trying to deliver. Because almost a decade of involvement in bitcoin has provided ample evidence to keep cash flows more stable. Actually I intend to take a bigger share for the next investment period, like the pattern I explained in the previous post and refers to the level of financial ability to compensate.

Are you saying that you have been investing in bitcoin for nearly 10 years?  So you been in bitcoin longer than me?  I see your forum registration date as late 2015.  I am late 2013 when I started in bitcoin so just a bit over 9 years of learning and building my stake into bitcoin and then attempting to maintain such investment portfolio with a bitcoin allocation that feels comfortable to my situation.

[Charmekkd]

in my opinion if you accept payments using bitcoin it will be good but you have to have very large capital,
because I see an unstable bitcoin price which of course will make a profit if you sell bitcoin when the price is rising or it could be a loss, if you sell bitcoin when the price is down. I mean you have to have big capital, namely to handle it because selling bitcoins cannot be arbitrary, of course, because you have to wait for the right time.

[CryptoBuds]

in my opinion if you accept payments using bitcoin it will be good but you have to have very large capital,
because I see an unstable bitcoin price which of course will make a profit if you sell bitcoin when the price is rising or it could be a loss, if you sell bitcoin when the price is down. I mean you have to have big capital, namely to handle it because selling bitcoins cannot be arbitrary, of course, because you have to wait for the right time.

Having a large amount of capital would be an advantage but not required. If you accept bitcoin for your business, it means bitcoin is not an investment but a payment method, you need to convert your bitcoins to fiat or stablecoins as soon as you receive them, you won't incur any loss. In this case, bitcoin acts as a form of payment, so we need to secure the business's budget, we should be completely separate from other investments, not expect to receive payment in bitcoin, and then hold and wait for the price to rise before selling.

[bitterguy28]

It is good to use Bitcoin as a payment option especially for a business that have to do with a different kind of countries and being exposed and advertised who is social media such as Facebook telegram Instagram Twitter and there's so many of other social media's that you can advertise your business so the fastest means of payment should be with Bitcoin or we the crypto coins so I will support search that payment of any online she will made with Bitcoin

you never mention about the adoption first because no matter how you wanted  to use bitcoin in your business but if your country is not open for acceptance ? then why implement if you cannot profit for it?
I would love having this with my business but the problem is that only few from my place are having knowledge in bitcoin or crypto so how they can be willing to use it as payments?

I think it's a misconception that investing in Bitcoin will always make money.  

I don't think it is misconception when we are willing to take a risk and willing to hold longer? because from the year of creation? bitcoin continues to increase its value .

if given a chance? I will always use or accept Bitcoin for my Business, JUST BITCOIN ALONE and not altcoins.

[coinremitter]

YES, It will defiantly profitable for your business because when it comes to business we should talk about payment getaways that charges high amount on transactions but on the other hand cryptocurrency payment getaways charges the lowest fees like "coinremitter" this platform only charges 0.23% fees on transactions which is lowest fees in world among all cryptocurrency payment getaways. so the merchants can earn more eventually. so in my opinion it will be more profitable for business.

[AnonBitCoiner]

For business purpose BTC is good technique but it will not give your profit when you sell it at lower price and do not wait for the worthy price. Other thing is about its unstable nature so you should be aware of it and also to know that how to deal with its unstable nature.

I don't see any person who make investment in bitcoin and have face loss instead of those who make decisions against the market condition.

you should have invest in bitcoin and then leave it for more than five years then you will see that what happens with it price. So definitely by doing this you will attain maximum outcomes and also never think about market when it's lower because its just for sometimes and then after this decreasing the market show regular enhancement in it's price.

[ginsan]

In my opinion, if you are a crypto practitioner and are familiar with the mechanism of bitcoin development from year to year, then you should have no doubts about Btc as the currency that you will receive in the business that you will be in. But in my place there are no shops or businesses that accept btc as a means of payment because it has not been legalized by the government, but the government in our place does not prohibit its people from investing in bitcoin.

So back to the main point, maybe you have to find the right person to talk to face to face in this case and ask everything you have to learn in building a business by accepting payments with bitcoin.

In one context you can hold the btc you receive in payments made by buyers at your place and you also have to accept payments with usdt so that it is easier for buyers to make payments if they only have usdt in their wallet.

[Bitcoin_people]

You can accept cryptocurrency in your business. But you have to be careful about this that the market has a volatility so in this case you may have loss or profit. You risk losing money when the market goes down steadily. Both of you need to know about Bitcoin while doing Bitcoin trading in your trading. However, your Bitcoin transaction method will be affected. Go ahead and use Bitcoin for business is definitely the right way.