Accepting Bitcoin

[Mia Chloe]

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

I would appreciate any advice on this my move

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[pawanjain]

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

I would appreciate any advice on this my move

What do you mean when you say its not easy to buy bitcoin because of currency value ?
It doesn't matter what is the currency value unless you are from Venezuela.
If there are people interested to buy/sell bitcoins then you can surely buy some BTC for yourself.

As far as accepting bitcoin for your mom's tailoring shop then make sure you don't get in trouble because bitcoin is not a legal tender yet in most places.
So you can't accept it as a payment method officially and I won't recommend doing things illegally.

[rat03gopoh]

and the government is not in much support

What does "not much support" mean, prohibit?

am currently working on convincing my mom to accepting Bitcoin in her tailoring shop

What is the method, and who will prepare and organize the acceptance?

i Also intend on hodling those Bitcoins

Well, good luck.

In the next post, try practicing using punctuation.

[Cantsay]

~~~
I would appreciate any advice on this my move

First of, dragging your or trying to convince your mum to accept something she knows nothing about as a payment option is not advisable, you should start by educating her about Bitcoin and see if she'll be interested in it or not.

Scond, all you need to invest in Bitcoin is your money --> Bitcoin Wallet (I guess you know the right type judging from your last thread) --> an exchange (preferably Dex) to purchase your Bitcoin from.

As for the currency value, I guess you're not from a country that uses USD as it's official currency that's why the whole amount seems like a big amount to you, I can't really tell the country you're in since you've never made any post in your local board but you should try to start with a little amount, after all the first rule of investment is to "always invest what you can afford to lose".

TL:DR. Don't persuade your mum to use something she knows nothing about, let her continue using her normal Fiat, if she's interested in Bitcoin she can buy some and hodl. --> Always invest money you can afford to lose, that's basically everything you need.

[tbct_mt2]

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

Will you pay your Mom money equivalently to bitcoin she receives from her Tailor shop and gives it to you? It is your investment, not your mom investment.

Accept customer payment in Bitcoin if transaction has at least on confirmation. If you accept Pending transaction, it might never come like the sender can do double spending or it will be dropped from mempool.

[coupable]

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

I would appreciate any advice on this my move

I did not understand how you are afraid to invest in bitcoin because your country does not support crypto and at the same time you can encourage your mother to accept bitcoin payments in her store.  
I don't know if you know that most crypto investors live in countries whose governments do not support Bitcoin.  I'm sure there are local sellers in your area who can sell you bitcoins in your local currency.
It's easy to find them on peer-to-peer platforms or even on the forum here in your local section.  Everyone here will encourage you to invest and provide you with affordable solutions.

[bangjoe]

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

I would appreciate any advice on this my move

If your country does not support bitcoin and let alone prohibit the acceptance of bitcoin as a means of payment, I don't think you need to continue to persuade your mother to accept bitcoin,I think you just need to invest in bitcoin, don't take extra action to accept bitcoin as a means of payment at your mother's sewing shop, and especially if your environmental situation is very unfamiliar with bitcoin or they don't know bitcoin, do you think who will use bitcoin for paying for your mother's sewing services?

And I can't figure out how you monopolized those bitcoins?

Indeed it is a good idea, but you have to be realistic with your environmental situation, sir.

[Dunamisx]

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

I would appreciate any advice on this my move

Why will you have to include your mom in this together knowing that two things were in stake here, the country regulations against bitcoin and also the risk of her using it as a payment means knowing that she's old enough not to control the whole situation needed to get her decentralized from any institutional role and the fact that she's not used to it, there may be alot of complications with her using it, i will advise that you first start your own first and get established before you could think about possible ways to get your mom along with this.

[komisariatku]

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

I would appreciate any advice on this my move

Maybe we agree that bitcoin is one of the best investment instruments. And most people here agree that bitcoin is the solution. But not always anything bitcoin-related is going to be great. You say it's hard to buy bitcoins where you are, how are people going to pay your mother if they can't buy bitcoins? I think you are putting bitcoin in the wrong place, you are making people difficult, not making it easy

I intend on explaining it to her first then if she agrees I will pay for the Bitcoins she gets from customers

If the next goal is to buy bitcoins from the payments your mom got. Doesn't buying bitcoins directly on a bitcoin exchange make it look easy?

[CryptSafe]

It is nice you have such a good plans for your mother. I believe she would welcome it in good fate as it is a good development but you said the government of your country frowns at it. I really do not know about your country and does it mean that there is a possible ban on crypto in your country since it happens that government frowns at it? Anyways there is no big deal about it. You can actually succeed in doing it as it would be more of a p2p transaction in the sense that her customers will pay directly to her wallet without having any third party interference.

You can interact with her customers or tell her to do so which would convince her clients but since you have more knowledge about bitcoin than your mother, you can help her because there would definitely be some client who are into crypto and would also give in to making payment with bitcoin.

I  would advise that you do not hodl all her income in bitcoin but rather there should be some certain percentage for which she should take as cash for her profit, some to reinvest in her business while some percentage be paid in bitcoin for her hodling as you have said.


Your plans for your mom is quite a good one.

[Faisal2202]

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support am currently working on convincing my mom to accepting Bitcoin in her tailoring shop Also intend on holding those Bitcoins

I would appreciate any advice on this my move

You have a great plan to accumulate Bitcoin instead of buying them while you have buying problems too but did you not think other people or customers of your mom's shop will also face the same issue while buying BTC?

Because to pay you in BTC they must have some in their wallets so they will buy it but according to your words, it is not easy for you to buy Bitcoin. Well, the reasons you have provided are also weak because my currency is also losing its value but we can buy BTC in p2p trading which might be available in your country too.

Look for a centralized exchange to buy it or maybe a decentralized exchange, it depends on you. And government is also not in favor of crypto in my country too. They had banned the usage of crypto. Which indicates you could still buy BTC and thus your customers too.

[examplens]

What do you mean when you say its not easy to buy bitcoin because of currency value ?

I would also emphasize this. The OP doesn't seem to have the best understanding of Bitcoin, how it works and how to use it personally. Here, I would definitely advise a good education first, and only then any use, especially payment for your services through Bitcoin.

One of the things you must also research is the legality of cryptocurrencies in your country. There are different possible restrictions, and it's best to be sure before making any announcements.

[Lorence.xD]

It's a good thinking to have an investment in Bitcoin, but what do you mean by the government not supporting Bitcoin? Is it banned? Because if that's the case you're just putting your mother at risk cuz it's consider a violation to the rules in your country. Plus I think you still lack of knowledge to Bitcoin but you're already planning to involved your mother's business with it, just imagine who would take care of the payments and transactions and the volstility thst could affect profits frok her business. If Bitcoin is not allowed in my country, maybe I would invest without mentioning it especially to the business.

[Zaguru12]

am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

I would appreciate any advice on this my move

I don’t buy your idea just because first your mother is a total newbie to bitcoin and cryptocurrency so you do not need to convince her put rather talk about the advantages and the risk associated with bitcoin to her then let her make her decision. Thereafter you can guide her through the steps to make her funds secure.

Secondly and the most important thing is your government is against bitcoin, so having it as a public payment method might make you a law breaker which could actually be a threat your life and that of your family. So I would advise you leave that off first till maybe your government relaxes the laws against cryptocurrency.

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value

This should actually be the sole reason you buy bitcoin. Since the value of country’s currency is deteriorating then you should consider saving some of your money into bitcoin because it offers you a better store of value. Many people actually buy bitcoin discreetly in countries where the government is against it. All you have to do is to be private about it and not anybody needs to know just not to land your self into government troubles

[Hyphen(-)]

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support

The value of your country's currency has no bearing on Bitcoin investment; all you have to do is take out the amount you plan to invest and store it in your wallet, where you will have access to your private key.

If you continue to hold your country's currency in this manner, its value may drop more, however if you invest in Bitcoin, there is a probability of Bitcoin surging, and you will profit from your investment. And if you need cash, you can simply sell your Bitcoin and utilize it.

am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

I will advise you to allow your mom to keep running her business the way she used to do it with fiat currency, then look for ways to convert your money into USDT to place your Bitcoin investment.

[alastantiger]

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

I would appreciate any advice on this my move

You do not need to convince your mom to accept bitcoin. You need to teach your mom about bitcoin the benefits for her as a person and for her business. You should also tell her about the risk involved. When you have done that you should allow her sleep over it then let the decision to accept bitcoin be solely hers. Unless you are going to bear the risk of her losing her funds, then you shouldn't convince her.

What I think is that people should invest in bitcoin from a place of proper understand and not because others are investing in it or I want to be the first to invest in it. 

[lizarder]

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

You do a complicated job and are too impossible to be achieved. You say the government does not support bitcoin and automatically your country forbids all forms of payment using bitcoin and when you try to force it it will clash with existing regulations and laws. Do you intend to make your mother's shop closed? Do not drag your mother in trouble because it will interfere with her business in making money.

I would appreciate any advice on this my move

Bitcoin does not require such adoption of coercion and if your country does not support it then you should try to invest safely. Anonymous nature will protect you from any unwanted attack and I hope you understand what I mean.

[Hatchy]

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins
I would appreciate any advice on this my move

I guess from the look of things, you are new into the world of cryptocurrency. If yes then I would advice you to take your time for now and try to understand how everything works, the Blockchain technology is not something you rush into as you might end up loosing your funds. Just as everyone has said, governments restrictions doesn't stop you from buying Bitcoin (it's decentralized nature) you just have to know how and when to buy thats all.

I don't think Involving your mom's business with Bitcoin is a good idea, since you are not yet into it. For now get familiar with the basics and try putting little money(spare money you can afford to loss) and practice from time to time. And later when you are now familiar with the whole process of buying and trading Bitcoin then you can think about involving your mom's business.

[PeRo]

Rather than getting your mom and her business into Bitcoin, maybe you should try doing something of your own? If your currency isn't stable or in inflation, you could try earning Bitcoin or earning money trough the internet and then buy Bitcoin if you have some marketable skills. I don't know how much you know about Bitcoin, but you can always spend time learning - you have great threads around here to help you understand it better and you can always go to the Services board and try either finding something you are eligible to do or offer your service.

Either way, it's  always better to try and do something by yourself and nowadays the world is full of opportunities. Good luck in your Bitcoin journey.

[SOKO-DEKE]

Since I joined this forum I have always wanted to invest in Bitcoin however Bitcoin investments in my country is not easy because of our currency value and the government is not in much support am currently working on convincing my mom to accepting Bitcoin in her tailoring shop i Also intend on hodling those Bitcoins

I would appreciate any advice on this my move

Having plans to invest in Bitcoin is a great idea, and almost everyone who understands how the Bitcoin and cryptocurrency industries work knows the benefits of investing in them. But as you said that the governments of your country are not in support of Bitcoin, I will advise you not to go against your country's laws because it may lead to trouble if you are caught. I advise you to keep learning, but if you think you can do it secretly, I may say you are good to go.

Because Bitcoin is not recognized as legal tender in your country, it is never a good idea to try to persuade your mother to accept it as a form of payment in her store. I may add that it will be very challenging for customers to use Bitcoin to make purchases from her. The best you can do is to educate your mum about Bitcoin incase of future maybe your country will later legalize Bitcoin.