Will it be profitable for the business?

[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.

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[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.