Is it good to accept crypto as a payment?

[coinremitter]

I have seen a report today that in 2022 crypto payments showed an amazing rise. People are really accepting it and giving the value as they are giving to fiat payments.

Are you guys accepting crypto payments for your business?

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[Coin_trader]

I have seen a report today that in 2022 crypto payments showed an amazing rise. People are really accepting it and giving the value as they are giving to fiat payments.

Are you guys accepting crypto payments for your business?

Yes! I’m encouraging my customer to pay using Bitcoin whenever they do a purchase on my shop and online store through giving them an exclusive discount. I have a Bitcoin investment and I’m usually converting my fiat into Bitcoin every month. This way, I can save fees on converting since I’m using my shop crypto sales as my investment then I give my fiat salary to the shop balance.

But also it depends on how you handle your business capital. It’s not advisable if you need to liquidate your capital immediately for restocking of your items since the price of Bitcoin is too volatile and the fees on converting it to fiat is sometimes high. You might get a negative profit with I wrong move of conversion to fiat. But in general it’s good if you can manage to add an extra fee on their purchase instead of discount.

[hugeblack]

Are you guys accepting crypto payments for your business?

Accepting payments in cryptocurrencies is one thing, continuing to use them is another, and keeping the bitcoins generated through them is quite another.
Stores accept payment in any currency if there is a demand for it, and the settings for accepting it are easy and simple.

From a technical point of view, you can easily add bitcoin to your site, but the problem remains in the presence of sufficient demand. This demand is achieved by individuals.

The important percentage now is that stores continue to accept cryptocurrencies.

[Clark Anderson]

Accepting Bitcoin for payments is not a new thing. Most countries already allow the use of btc for some trading activities and soon there is no doubt it will become a major means of transactions or trading all over the world. In my school, we can buy food stuffs and some other things using cryptocurrencies and it has really being helpful.

[Cantsay]

Are you guys accepting crypto payments for your business?

The rate of people that use crypto in my area need to be put into consideration before accepting crypto, the reason why I'm considering the adoption rate is because mine is a local business and not those type that require me building and setting up a website for it. So for now I don't accept crypto but I don have plans to adopt Bitcoin into my business as soon as my business starts to grow and maybe later on add some more like BNB, LTC and maybe DOGE (I'm adding BNB because it's transaction fee is lower than that of Ethereum). But for now I'll stick to my fiat.

[Z-tight]

The number of stores accepting crypto is surely going to rise because of the growing demand and use of crypto, so it is expected that most businesses would have to adapt for the sake of their customers who would want to pay them in crypto.

Accepting crypto payments is good if you do it well, and you have a good plan on what to do with the crypto you would be accepting, using a payment processor is a good way to add crypto payments into you business so you would not be affected by volatility. If only a small percentage of your customers are paying you with BTC, you can use that income as a form of dca to hold BTC for the long run, but to do that successfully you must be sure of the continuity of your business with the fiat income you are receiving. BTCpay is a recommended payment processor you can use to accept BTC in your business.

[Zlantann]

I have seen a report today that in 2022 crypto payments showed an amazing rise. People are really accepting it and giving the value as they are giving to fiat payments.

Are you guys accepting crypto payments for your business?

It is very good to accept Bitcoin as payment because it offers diverse benefits to customers and to you as a business owner. It's privacy, fast, reliable and security attributes are some of the benefits of using it. It could also help to attract more customers from different countries to your business. International financial transactions are done with little or no restrictions. The problems most businesses encounter due to the inadequacies of conventional banks are limited.

But the first thing I will consider before accepting Bitcoin as a means of payment is government policy on cryptocurrencies. If the government favours cryptocurrencies it would be a big boast to consider it as a means of payment. There are some countries that have banned crypto transactions, using it as a payment option might attract punishment from law enforcement agencies.

The goods or service you offer should also be considered. If you sell products that are very cheap, using Bitcoin might not be advisable because of the transaction fees. The popularity of Bitcoin in your location is also important. If your customers are asking for Bitcoin as an alternative payment option, then it is important to include it. But there are places where people are very ignorant of cryptocurrencies, this option might not be effective in such areas.

[Oasisman]

I have seen a report today that in 2022 crypto payments showed an amazing rise. People are really accepting it and giving the value as they are giving to fiat payments.

Are you guys accepting crypto payments for your business?

You're asking a crypto community, so most probably the answer is going to be a big YES. Who doesn't want to skip a fee when you're buying your own Bitcoin or trading it from fiat to crypto. If someone pays you directly with Bitcoin, I believe the buyer would  usually eat the transfer fee for you to have the item or service's whole amount paid. Other than that, the merchant also has the opportunity to multiply those payment made with Bitcoin, when the price starts to rally again.
Those merchants/service providers who accepts Bitcoin payments actually have foreseen the potential of Bitcoin's future.

[fadhilz123]

I have seen a report today that in 2022 crypto payments showed an amazing rise. People are really accepting it and giving the value as they are giving to fiat payments.

Are you guys accepting crypto payments for your business?

Unfortunately I am not a businessman at the moment and still work as an employee in other people's businesses and the owner of the business where I work now does not want to accept crypto into payments and is still happy to accept fiat to continue running his business.

But that doesn't mean it's a bad thing for him and me as his employees at this point because as long as you're still very comfortable using fiat, I don't think there's anything wrong with continuing it because everyone's goal is to make money through profit when doing business.

[WatChe]

Unfortunately I am not a businessman at the moment and still work as an employee in other people's businesses and the owner of the business where I work now does not want to accept crypto into payments and is still happy to accept fiat to continue running his business.

But that doesn't mean it's a bad thing for him and me as his employees at this point because as long as you're still very comfortable using fiat, I don't think there's anything wrong with continuing it because everyone's goal is to make money through profit when doing business.

Everyone has its own strategy, and what may work for someone may not work for others. Majority of businesses today are done in fiat, and now, few merchants are moving towards Bitcoin. It's a matter of time before we will see the benefits of accepting bitcoin as payment.
In my view, the main hurdle in accepting bitcoin is regulatory compliance. There are governments that want tax on every payment made while with bitcoin, it's impossible to tax every transaction.

[Rigon]

I have seen a report today that in 2022 crypto payments showed an amazing rise. People are really accepting it and giving the value as they are giving to fiat payments.

Are you guys accepting crypto payments for your business?

I think it is very beneficial to adopt crypto currency in business. I have set up a small business in my country. I envisioned on my own to introduce crypto currency trading in my business. But my imagination didn't let me go far. Because Bitcoin is not legalized in my country. I have put a hold on introducing crypto currency transactions in my business because of the administrative hassles. But I hope to fulfill my dreams one day.

[maydna]

I have seen a report today that in 2022 crypto payments showed an amazing rise. People are really accepting it and giving the value as they are giving to fiat payments.

Are you guys accepting crypto payments for your business?

I don't have a business, so I don't do it, but if I did, I would try to accept crypto and perhaps, teach crypto use to my clients. But before you want to accept crypto payments for your business, you should check the laws in force in your country because if the use of crypto for payments is not allowed, you could be subject to penalties from your government.

If your country allows crypto payments for businesses, you should find out what it takes so you don't break the rules. Regulations such as tax issues, licensing, and others. Don't get yourself in trouble for using crypto improperly and receive a warning from your government.

[348Judah]

Are you guys accepting crypto payments for your business?

Yes only if it's bitcoin and No if it involves other cryptocurrencies, i can't stand to hodl the acceptance of some sort of shitcoins project as a means of payment in my business, bitcoin so far have been popularly accepted by many organizations for making payments and I've not seen them including other cryptocurrencies as an addition to this, likewise El-Savador and Central African Republic the two countries that have adopted bitcoin as a legal tender and not other cryptocurrencies, therefore cryptocurrency is a good option only if it's involves the acceptance of bitcoin.

[Wexnident]

Maybe check around your area if crypto is well known? Or if it was an online store of sorts, create a public survey and check around if crypto is well known, at least, enough for you to implement crypto payments. I don't accept them since I'm not selling any sort of service whatsoever yet, but I do plan to do so when I finish all the necessities that I think I need. There's no loss really if you think about it, setup is relatively easy as well so if there's enough demand for it I reckon it wouldn't be that bad.

[Tony116]

As you have seen, crypto adoption is on the rise, so there's no reason why you shouldn't adopt it in your business, but make sure crypto is legal where you live. Adding cryptocurrency as a payment method will help businesses get more new customers, who prefer to use crypto to pay. However, crypto is very volatile, you should consider which coins you will accept. If you only intend to accept crypto with no intention of holding them, then you need to convert them to fiat or stablecoin to avoid unnecessary losses.

[CryptSafe]

I have seen a report today that in 2022 crypto payments showed an amazing rise. People are really accepting it and giving the value as they are giving to fiat payments.
Are you guys accepting crypto payments for your business?

So far this is one of the best decision I have made in business. I accept bitcoin payment for my consultancy services and some other transaction I get involved in the course of doing business. If the people I am dealing with are digitally inclined I will relate with them about bitcoin and see their response. Atleast I have been able to onboard few business associates and they are all doing fine and thanking me for showing them the way about bitcoin.  Bitcoin acceptance is gradually growing in fact, that was amongst the sole reasons why Nakamoto invented bitcoin so that business can be done through bitcoin payment whereby everyday individuals can transact with bitcoin without any third party interference, no much charges, no much delay in transactions as a result of the nature of the deal, the mobility and scalability, safety and lots more.

[rby]

I have seen a report today that in 2022 crypto payments showed an amazing rise. People are really accepting it and giving the value as they are giving to fiat payments.

Are you guys accepting crypto payments for your business?

It is not a matter of if others are accepting crypto for their business so that you will accept. The real deal should be if your customer would be able to pay with cryptocurrency, does your business needs to use cryptocurrency, can you handle the transactions with cryptocurrency for instance the security aspect and the volatility of cryptocurrency?

If your business has no need of cryptocurrency and your customers are not clamouring for it, there is no need to start introducing cryptocurrency in your business

[Yatsan]

In a business? I guess this would only be sustainable to businesses which are offering services and not products and such. If the service business would only require skill, then it would be sustainable in a sense that the owner of that particular business won't be needing money to maintain the business which will keep him safe from the burden unlike with those who offers products which will need to circulate the funds earned from payments in order to keep it alive. This has something to do with market price volatility wherein there will be time prices would decline and those are also times converting won't be a good option. Not unless your needs in that business would be payable as crypto as well.

[BlackHatCoiner]

On one hand, I like seeing greater adoption. There is no doubt that we have more and more merchants who add it on their portfolio, and as consequence, accept it in their store as payment method. On the other hand, I rarely notice merchants who do self-custody. I'm surrounded by Internet services which have BitPay, Binance Pay and Coinbase, and very little comparably support lightning. We should fix that.

[avikz]

I have seen a report today that in 2022 crypto payments showed an amazing rise. People are really accepting it and giving the value as they are giving to fiat payments.

Are you guys accepting crypto payments for your business?

Crypto payments are good but it all depends on your risk taking capacity. You need to understand that cryptocurrency 8s extremely volatile. So if you are willing to accept crypto payments for your business, you will have to accept the volatility as well.

So decide wisely if you are ok to accept that volatility or not. If yes, go ahead with it. Also check with your local administration if crypto payments are legal in your jurisdiction and take a call accordingly.