The bolt driver experience: promoting bitcoin in my business

[sokani]

Hello guys! I felt I should share my little success with you in receiving my first bitcoin payment in my business. Well... I have a car which I used for Bolt (Taxify) as my side hustle whenever am free from my work. I've stumbled on a couple of topics of some members on this forum promoting mass adoption of bitcoin by accepting it in their businesses. Since then I've been nursing this idea and at the same time I've been having cold feet. I accept payment for my services in fiat currency or bank transfer, but with the naira redesign in my country, the new notes have really not circulated everywhere and it's been making life a living hell for a lot persons. So I said to myself this is the right time to add another means of payment to my business.

I got some bitcoin stickers and for my car and It's been about two weeks since I displayed it and no one has patronize me in bitcoin. Though, some of my passengers see it and engage me in one or two conversation. Today, I carried a passenger and when he saw the stickers and was like do you accept bitcoin and I said yes and he said do you know you are the first bolt driver I have actually seen accepting bitcoin and I smiled. He asked me if I have actually received any payment in bitcoin and I answered not yet, and he said I will be your first customer to pay you in bitcoin. We talked a lot during the trip and our discussion was mainly centered on cryptocurrency, mass adoption, crypto ban in the country. At the end of the trip, he paid me in bitcoin with additional tip and I felt really happy about it. I know this is little but I hope it would help to promote mass adoption of bitcoin in my locality, the nation and passes a message to people out there that bitcoin is here to stay and all we can do is to embrace it and be part of history.

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[Crypt0Gore]

Nice one OP, this is a good way to promote Bitcoin even if no customers are paying in Bitcoin, but I do have some doubts about this business, to send Bitcoin from a wallet to another costs me 0.40$ and that's more than enough for moving from one locality to another using a cab or taxi, so customers that will find this a worthy trial are those going a long distance, if I could remember, Bolt drivers don't travel long distance, they always do cabbing within a city or two,  F*ck it, this is still a good promotion for Bitcoin so keep doing you.

[franky1]

maybe also put a sticker on the inside of back seat passenger area so passengers inside your car during your ride can read it from their side window or on the backside head rest of your drivers seat.

by being on the windscreen facing out. its probably more a a conversation of "whats that sticker on your window say" as the conversation starter, because while riding in your car its not so clear what it says from the back seat

other things:
know the times, dates and locations of local bitcoin meetings, events in your area. and be positioned nearby when those events are meant to finish so you can be pinged as the closest vehicle available to give bitcoiners a ride after their event. then seeing they can pay you in bitcoin. they are more likely to get paid in bitcoin

just riding around randomly. is pot luck of finding some random person that wants a ride, also being a bitcoiner.
so increase the chances. by being near known bitcoin events at the time period of the end of the session of a bitcoin event to get paid

and then the rest of the day/week month. the sticker is there to be a conversation starter for those that dont know about bitcoin. where you can also tell them about bitcoin events in your area if they want to learn more/get involved

[sokani]

Nice one OP, this is a good way to promote Bitcoin even if no customers are paying in Bitcoin, but I do have some doubts about this business, to send Bitcoin from a wallet to another costs me 0.40$ and that's more than enough for moving from one locality to another using a cab or taxi, so customers that will find this a worthy trial are those going a long distance, if I could remember, Bolt drivers don't travel long distance, they always do cabbing within a city or two,  F*ck it, this is still a good promotion for Bitcoin so keep doing you.

There's no fixed price, bolt charges are based on the destination of the rider. There situations where you might be charged N1000 naira for a ride which is equivalent to $1.31 at N740 exchange rate. In this case no one would want to pay you in BTC because of the transaction fee. There are also situations were you might be charged N2000, N5000 which are equivalent to $2.7 and $6.7 respectively. If the rider is going interstate, then expect the cost to be higher than this, it might cost up to N15000 (20$) or more. This particular ride was an intra state destination, although I made 2 stops and he wasn't charged any transaction fee because he asked me for my Binance pay ID.

maybe also put a sticker on the inside of back seat passenger area so passengers inside your car during your ride can read it from their side window or on the backside head rest of your drivers seat.

by being on the windscreen facing out. its probably more a a conversation of "whats that sticker on your window say" as the conversation starter, because while riding in your car its not so clear what it says from the back seat

other things:
know the times, dates and locations of local bitcoin meetings, events in your area. and be positioned nearby when those events are meant to finish so you can be pinged as the closest vehicle available to give bitcoiners a ride after their event. then seeing they can pay you in bitcoin. they are more likely to get paid in bitcoin

just riding around randomly. is pot luck of finding some random person that wants a ride, also being a bitcoiner. so increase the chances. by being near known bitcoin events at the time period of the end of the session of a bitcoin event to get paid

and then the rest of the day/week month. the sticker is there to be a conversation starter for those that dont know about bitcoin. where you can also tell them about bitcoin events in your area if they want to learn more/get involved

Thanks mate for the suggestions. I'm actually thinking of putting two stickers at the back so that my riders can easily see it from there. Concerning the local bitcoin meeting, I don't know of any such gathering/event in my locality for now but I will do well to find out, I might meet my next big customer from there.

[Mr.right85]

I got some bitcoin stickers and for my car and It's been about two weeks since I displayed it and no one has patronize me in bitcoin. Though, some of my passengers see it and engage me in one or two conversation. Today, I carried a passenger and when he saw the stickers and was like do you accept bitcoin and I said yes and he said do you know you are the first bolt driver I have actually seen accepting bitcoin and I smiled. He asked me if I have actually received any payment in bitcoin and I answered not yet, and he said I will be your first customer to pay you in bitcoin. We talked a lot during the trip and our discussion was mainly centered on cryptocurrency, mass adoption, crypto ban in the country. At the end of the trip, he paid me in bitcoin with additional tip and I felt really happy about it. I know this is little but I hope it would help to promote mass adoption of bitcoin in my locality, the nation and passes a message to people out there that bitcoin is here to stay and all we can do is to embrace it and be part of history.

As sweet savory your story might be to my taste and before my eyes, I don't see how that would work so well in this regard.
A leasta no stranger to both, using the bolt services and bitcoin as well. They've got some short comings to being very applicable.

In one instance, bolt generally generates speculates how long and how many kilometres a ride might last and use that to speculate the price of the ride which is always visible to the passenger. Now, its know that many times, its always about that and on few occasions, traffic and other diversions can alter the price. Hence, its not something you pay as a go but upon arrival and its usually based on the price generated by the driver.

Given the fact that, bitcoin transactions don't come with immediate confirmation timing and has got fees attached to its processing, how do you mediate between these. Increased fee surely ensures faster transactions and that might just be well over 30-50% of your ride fee.
It just doesn't fill convenient and having to wait on transaction to get broadcasted and at least go through some confirmation.

[avikz]

Congratulations on your first bitcoin payment. I know a lot of businesses will be interested in accepting bitcoin payment if the regulatory framework is favorable. Unfortunately, a lot of countries have not yet made clear bitcoin regulations which is effectively discouraging the merchants from accepting bitcoin payment.

Here's another success story of bitcoin payment from my country,

https://www.indiatimes.com/trending/social-relevance/bengaluru-tea-seller-accepts-crypto-as-payment-586578.html

Slowly but surely we will reach there!

[vv181]

There's no fixed price, bolt charges are based on the destination of the rider. There situations where you might be charged N1000 naira for a ride which is equivalent to $1.31 at N740 exchange rate. In this case no one would want to pay you in BTC because of the transaction fee. There are also situations were you might be charged N2000, N5000 which are equivalent to $2.7 and $6.7 respectively. If the rider is going interstate, then expect the cost to be higher than this, it might cost up to N15000 (20$) or more. This particular ride was an intra state destination, although I made 2 stops and he wasn't charged any transaction fee because he asked me for my Binance pay ID.

I see. I was curious how you dealt with transaction fees and small amounts of transactions. By any chance, have you taken a look and considered Lightning Network for dealing with micro or small transactions? Would that be applicable and helps you? Or maybe that is out of option due to some reason.

Anyway, It seems that your kind of activity is truly an example the ways of how to helps increasing cryptocurrency, especially bitcoins, adoption within some countries and communities. If there is an available bitcoin payment option, people whether directly or indirectly would be able to conceive of bitcoin's potency and benefit.

[Pokapoka124]

Nice one OP. I can see how this will work. Bolt drivers usually accept bank transfers and bitcoin payments will be an upgrade imo. Congratulations on getting your first bitcoin paid ride, many of the people here who have shared their story are yet to have a customer pay in bitcoin. You’re far ahead of them, maybe because of the nature of your work.

In one instance, bolt generally generates speculates how long and how many kilometres a ride might last and use that to speculate the price of the ride which is always visible to the passenger. Now, its know that many times, its always about that and on few occasions, traffic and other diversions can alter the price. Hence, its not something you pay as a go but upon arrival and its usually based on the price generated by the driver.

Given the fact that, bitcoin transactions don't come with immediate confirmation timing and has got fees attached to its processing, how do you mediate between these. Increased fee surely ensures faster transactions and that might just be well over 30-50% of your ride fee.
It just doesn't fill convenient and having to wait on transaction to get broadcasted and at least go through some confirmation.

Good question Mr Right. I wonder how OP will handle such situations considering the time frame for the blockchain network to reach three confirmations. Do you just let them go with the transaction pending because bitcoin transaction is “irreversible”.

[BIT-BENDER]

Good to know that there are people now in your area of field/side hustle that are bent on making bitcoin their chief medium of exchange.

Well I am looking at the reason for the delay to why your customers weren’t patronizing you in crypto-currency, it may be due to their cautionary measures probably you are in a country with crypto-currency laws.
Regardless you doing well in your part for bitcoin adoption.

[Rockson1]

Good to know that there are people now in your area of field/side hustle that are bent on making bitcoin their chief medium of exchange.

Well I am looking at the reason for the delay to why your customers weren’t patronizing you in crypto-currency, it may be due to their cautionary measures probably you are in a country with crypto-currency laws.
Regardless you doing well in your part for bitcoin adoption.

that is a good one my guy but the problem is that bitcoin transaction is not familiar to so many people so still tell them more about bitcoin and how to go about the transaction in your locality create more awareness on crypto currency it will be of your benefit in the future.

[famososMuertos]

Well, as you mention, these stories are more frecuently often in that region.

Very good, I think that somehow the enthusiasm of the users from that part of the world who login here in the forum is contagious.

El Salvador, taxi drivers even have monitors to see the price and related things, look for those stories, they can guide you in more precise ideas.

[pixie85]

Nice one OP, this is a good way to promote Bitcoin even if no customers are paying in Bitcoin, but I do have some doubts about this business, to send Bitcoin from a wallet to another costs me 0.40$ and that's more than enough for moving from one locality to another using a cab or taxi, so customers that will find this a worthy trial are those going a long distance, if I could remember, Bolt drivers don't travel long distance, they always do cabbing within a city or two,  F*ck it, this is still a good promotion for Bitcoin so keep doing you.

Unfortunately the fee is something global just like bitcoin and it doesn't take into account that $0.5 can be worth something.

In developed countries you can't buy anything for that much. In Germany 1 EUR, which is more than twice the fee, won't even make the driver turn his meter on. A cheapest coffee costs you more than 1 EUR and 0.4 EUR is the price of a salad dressing at McDonalds.

If you can get somewhere for $0.4 or buy a meal, that's great for you, but it's not a problem of bitcoin, just your country is cheap compared to the rest of the world.

[Dr.Bitcoin_Strange]

This is a cool initiative, mate. In my school days, one day in an economics lecture, we were taught about the characteristics of a good entrepreneur, and I remember vividly that a good entrepreneur is a solution finder. It is true that the redesign of the naira note is affecting the people, and as a result, there is not enough cash for citizens to see and spend. But the idea of accepting Bitcoin would be a solution for your customers who would prefer to pay in Bitcoin, and with your sticker on the windscreen, it will also make your new customers curious, and if they are not yet exposed to Bitcoin, they might want to get themselves involved. So, bro, also get ready to teach 😉🥂, because some people may ask you a lot of questions about Bitcoin and others may want you to completely educate them. I am in a position where some of my customers who are not into Bitcoin get to ask me. One thing that surprises me is that some people still think that Bitcoin is only used by fraudsters, popularly known as "yahoo boys," in some countries. While some of my customers would also ask me if there really is any market for Bitcoin (the main thing is that most people are not really aware of the digital currency, decentralized exchange, and centralized exchange), they don't know a thing about Bitcoin or cryptocurrency.

Even if you don't often get customers paying with Bitcoin, the sticker on your windscreen is a good advertisement for Bitcoin, and as Franky suggested, you should also put another sticker in the passenger area. Given Bitcoin's volatility, I usually convert to fiat currency after accepting Bitcoin payment and only keep my profit in bitcoin, so that even if Bitcoin prices fall, I don't have to worry about it because I've already converted my capital to fiat. You could also consider taking that step unless you only want to hold your bitcoin payment without spending any.

[Bananington]

I understand that your car is registered for use under the bolt company, and bolt company usually have a percentage for every ride you make on their app, so this means to me that you cannot always accept bitcoins for payments except you have another source of income that gives you normal cash that you need survive daily and you can use to settle the percentage deal. Secondly this is not really creating awareness about bitcoin, thus just really shows that you accept bitcoin payments because people who know how to make payments with bitcoins already have bitcoins and are already bitcoin users and not new to it. Because people you carry are people in transit, they may just be interested in paying quickly with money or normal bank transfer.

[drwhobox]

Great job! This is the most unique and effective way of promoting bitcoin throw your business. I have seen many photos and threads about integrating bitcoin into their business, but non of them excite me like yours. I have tried to give you some merit but unfortunately I have none

By roaming around with that sticker on your car many people can see and get curious about bitcoin if they don't know about it and knows a little about it. I hope you will not face any legal issues by doing this.

[n0ne]

More and more good things are happening through our forum members. In recent months we were able to see good number of forum members spreading the word about bitcoin as well as accepting bitcoin into the business. This is another big move and no one have tried it. This is the first time I've come across someone who had accepted bitcoin for the ride locally and direct to the wallet. Hope these small level of acceptance here and there will help with more people adding cryptocurrency acceptance to their businesses.

[GreatArkansas]

I want to know how the transaction went, like where the rider or customer paid. Like his/her Bitcoin from a personal wallet or from an exchange, and for OP, are you using some payment processor to process the Bitcoin payments? Or just using a personal wallet or exchange account to receive the Bitcoin payments?
Overall, congratulations, OP! Keep it up.

[Fundamentals Of]

This is a good initiative on your part. You've done something for Bitcoin to get more and more adopted in your country. Actually not just in your country because by posting it here you are actually spreading the idea to other parts of the world. Some here might also be involved in the kind of side hustle that you are into and will also try accepting Bitcoin.

Regardless if there are no riders paying in Bitcoin, it is enough that the sticker is making them curious and discussions on Bitcoin is started.

[Sebas.tian]

Congratulations for the good decision you made to accept Bitcoin as a payment in your service, just to spread more information about Bitcoin and how safe and fast it's to humanity. I believe, many bitcoiners will like to enter your tax to encourage you not to quit for the tax work for the few customers you are getting now, because with time it will make you a better person that will make people in your areas to celebrate you for the help you have brought to their community by accepting Bitcoin as a payment. I will advise you to also make the stickers available to give some drivers to past it in their cars so that many passengers will know that you accept Bitcoin as payment in the environment.

[xSkylarx]

That would be a huge success for you, and for sure a lot of people will pay you bitcoin in the future. I think it is just others who are scared of this as crypto is banned in your country but are you safe accepting crypto? I have a coworker who leaves for Nigeria, and they said that it is really difficult in your place, which is why he is transitioning to crypto. I hope that you'll have more customers to hire you and pay you in bitcoin, but what are your plans for it? you hold it or sell it immediately?