How to use Bitcoin or crypto?

[WillyAp]

It must be agreed in the initial agreement that the amount of salary in fiat will be received at each payment due date. Each payment is made when due, then the amount to be received in bitcoin or other digital currency corresponds to the fiat currency rate.

Such a payment system does not harm one party. Conversely, by implementing the system in this way, it can facilitate each other.

Nobody even mentioned a salary.

Some people like to be single minded and wish to just be paid in BTC. That is highly impractical IMHO.

We use it as it comes, we get paid in Bitcoin, Litecoin, USDT all currencies which are most favoured by clients.

[1715576569]

1715576569

[1715576569]

1715576569

[uneng]

The trick is to remember the price you received those highly fluctuational coins.
Say you received 0.03 BTC (720 ish today 08.19.23) for some work at 25500? Well, once you need FIAT you can just sell the 0.03 at plus 25500. 

That sounds great in theory, but on practice you have to be constantly adapting yourself to the currently scenarios, which change frequently. Emergencies plus unpredictable situations happen all the time and Bitcoin fluctuations don't always work in our favour. Quite often we have to open exceptions selling BTC cheaper than we would like and cheaper than we received it for an executed job.

We need money in fiat everyday, and once the reserves run out, we have to appeal to our BTC holdings to save the day. I guess there is no other viable alternative, unless you borrow money, although it's much worse to pay interest later than cutting your BTC profit a little bit...

[WillyAp]

The trick is to remember the price you received those highly fluctuational coins.
Say you received 0.03 BTC (720 ish today 08.19.23) for some work at 25500? Well, once you need FIAT you can just sell the 0.03 at plus 25500. 

That sounds great in theory, but on practice you have to be constantly adapting yourself to the currently scenarios, which change frequently. Emergencies plus unpredictable situations happen all the time and Bitcoin fluctuations don't always work in our favour. Quite often we have to open exceptions selling BTC cheaper than we would like and cheaper than we received it for an executed job.

We need money in fiat everyday, and once the reserves run out, we have to appeal to our BTC holdings to save the day. I guess there is no other viable alternative, unless you borrow money, although it's much worse to pay interest later than cutting your BTC profit a little bit...

Its not that complex, with money in several different locations, bank, financial service, cash, wallet you sell what is best at the moment.
We have the luxury of suffering an inflation the last 12 years.

It will be easier to get jobs if you post your portfolio in services board.

Done: https://bitcointalk.org/index.php?topic=5463947

Do you have a dedicated topic for your services or perhaps a portfolio?

Just published: https://bitcointalk.org/index.php?topic=5463947

[Lida93]

You don't force bitcoin on workers who are not interested in receiving it as a means of payment of their salary. What then happen when the price of bitcoin plummet as some point which means your workers are going to receive their salary in a reduce value for that month. Why not pay in fiat be it USD or any fiat currency let those interested in converting it to BTC can go ahead after receiving their pay.

But if it's for an organisation that's known in dealing on cryptocurrency it will be easy for both management and workers to deal with, as before a worker would send out application he's already aware that he's salary will be paid in crypto currency and the rates wouldn't be constant. Just like in the forum, it's a community of crypto enthusiasts therefore it doesn't have to be an issue receiving payment in BTC or other altcoins,  whatever rate it's valued low or high it's expected.

[BitcoinWide]

If we are talking about a business that accepts cryptocurrency as payment from customers, there is a very simple solution - payment pateways. They immediately convert crypto into fiat. Of course, the use of these services is also associated with risks. At least because your money is easier to steal when intermediaries are involved.
But this is a good solution for those who don't want to worry about exchange rate volatility.

[CryptSafe]

Your statement seems not clear though but I believe you are most talking about Bitcoin payment and here I am of in the opinion that Bitcoin payment should be on negotiable table. Workers should be given the option for which they want payment. I know it is a decision in which you as the CEO would want to take but looking at the laws of the land where that work exist,  workers should be allowed to make their choice to which currency they want their payment.
However it is good too if you decide to accept Bitcoin as a means of payment for your goods and services that would be nice so far as the law governing your Country where your business exist does not deem it illegal to operate.

Nevertheless, in as much as Bitcoin is much prioritised by many for payment of services rendered, most would want to receive their payment in fiat and do the conversion themselves into Bitcoin as it is a volatile which could either increase or decrease in a speed of time. So payment for services rendered should be based on negotiable stand between both parties involved. Do not force payments on them.

[Zlantann]

Some people like to be single minded and wish to just be paid in BTC. That is highly impractical IMHO.

We use it as it comes, we get paid in Bitcoin, Litecoin, USDT all currencies which are most favoured by clients.

If you are a service provider or sell any product the more currencies you accept will affect the number of customers you attract. If you stick to only Bitcoin payment, then you will restrict your business to only Bitcoin owners. Even if you want to keep your money in only Bitcoin, you can always exchange any coin for Bitcoin through diverse means. But it is good to accept multiple coins for payment.

The trick is to remember the price you received those highly fluctuational coins.
Say you received 0.03 BTC (720 ish today 08.19.23) for some work at 25500? Well, once you need FIAT you can just sell the 0.03 at plus 25500.  

Everyone has a plan for handling their finance. If you are selling goods it is advisable to always convert your money to other fairly stable currencies because you will need the funds to restock your shop frequently. Bitcoin volatility can reduce the value of the money sold, so there is a need to handle these uncertainties. But if I am offering a service, I can decide to keep only Bitcoin without any problem. A service provider can allocate a certain percentage of Bitcoin he is hodling for a long time and have another amount he is converting to cover his expenses.

[WillyAp]

Everyone has a plan for handling their finance. If you are selling goods it is advisable to always convert your money to other fairly stable currencies because you will need the funds to restock your shop frequently.

We definitely do not share the same surroundings.
Here literally no one has a clue about how to make the money they wish to spend. And if they had they rather spend all in one day then living without luxury for a few weeks. The notion that in order to accomplish something you need to sacrifice either on time and/or money is unknown where I live. 

The post was made for people who need to learn how to handle crypto.

[Mr.right85]

The trick is to remember the price you received those highly fluctuational coins.
Say you received 0.03 BTC (720 ish today 08.19.23) for some work at 25500? Well, once you need FIAT you can just sell the 0.03 at plus 25500. 

Thats by some means to maintain value and not be cheated on a deal ofcourse, you dont get cheated for striking a deal at a price rate and due to holding,rhe coin dumps and have its values reduced.

Even then, selling though not idea isn't a worst thing. It is a next or available option as you would be using that which is available to you and can serve the purpose for which would seal your deal or solve a problem.

Bitcoin is both currency and an asset and having to hold it for a long time means you seeing it for an asset otherwise, you let it serve as the currency it is and spend almost as received.  Either way, you either profit or lose or perhaps remain at equilibrium.  People gets to choose how they use it.

[WillyAp]

Thats by some means to maintain value and not be cheated on a deal ofcourse, you dont get cheated for striking a deal at a price rate and due to holding,rhe coin dumps and have its values reduced.

Its not about being cheated, nor receiving a salary.
A freelance or a outfit takes crypto, FIAT, even Gold and has the luxury to choose from several sources the most convenient one.
Its the way to keep calm and not to sell something under pressure because you did put all into one stable and have to sell, even suffering a loss.

[Xampeuu]

The trick is to remember the price you received those highly fluctuational coins.
Say you received 0.03 BTC (720 ish today 08.19.23) for some work at 25500? Well, once you need FIAT you can just sell the 0.03 at plus 25500. 

Thats by some means to maintain value and not be cheated on a deal ofcourse, you dont get cheated for striking a deal at a price rate and due to holding,rhe coin dumps and have its values reduced.

Even then, selling though not idea isn't a worst thing. It is a next or available option as you would be using that which is available to you and can serve the purpose for which would seal your deal or solve a problem.

Bitcoin is both currency and an asset and having to hold it for a long time means you seeing it for an asset otherwise, you let it serve as the currency it is and spend almost as received.  Either way, you either profit or lose or perhaps remain at equilibrium.  People gets to choose how they use it.

indeed in the context it depends on the goal of the bitcoin holder, and the holder himself knows his position and his purpose is whether to sell it immediately or hold it for profit. if it is sold immediately, of course at the available rate, and whether he has agreed with the price at that time. whereas if it is held it is likely that later it will get more fiat, provided we know when the right time is to sell it, considering we have to get the right moment, because if this cannot happen the price will return quickly

[Youngkhngdiddy]

It's great to see your diversified approach to receiving payments in various cryptocurrencies. Managing your income across different coins can indeed be advantageous, considering their fluctuating values. Your strategy of remembering the price received for each coin and selling when needed is a smart way to handle the volatility.

Being open to receiving payments in Bitcoin, Litecoin, and USDT shows flexibility, especially given the preferences of your clients. Your recommendation to use multiple currencies, even when living in the States, highlights the importance of financial versatility.

It's interesting to note that while your primary income is in 90% FIAT, you prefer Litecoin for its efficiency, and you're open to other coins based on transfer times and fees. This adaptability in your financial approach is commendable.

Your offer of web services in exchange for Bitcoin is a great initiative, allowing you to potentially earn more in this valuable cryptocurrency. It's a reminder that embracing different payment options can bring about opportunities for growth.

Remember, cryptocurrencies like Bitcoin can be a powerful tool, but as you rightly mentioned, they can't correct spending urges. It's crucial to strike a balance and use these digital assets wisely.

  Bitcoin as useful as a psychological rallying point for the multitudes of people that want to see financial systems democratized, without the predatory lending and unscrupulous corporate shenanigans that have been present in all forms of financial interactions, to finally form a decentralized multiple layered truly trusted network for financial freedom. That’s just a rambling thought on the subject. You can find out what bitcoin and the inspired blockchain revolution can do by being active here and in other crypto communities such as Cent.
  To accept Bitcoins for business is important today. It is more and more widespread and get more popular each day. Many want to pay with bitcoins so not accepting this currency would be a failure. You don't need to carry money in your pocket. Well this might change in the future but since the transactions are all digital, you don't really need physical currency. So assuming that the system is secure enough, you don't have to worry about your wallet getting stolen.  Physical currency is subject to wear and tear. A digital one like this is not.

[Tigerheart3026]

When it comes to a business where used cryptocurrency as a means of payment, I prefer using USDT, because is a stable coin and not have to depreciating or increase in price difference than using Bitcoin or other alt-coins that is not stable coin.

not everyone has hold usdt, as like i paying Ltc (extremely low fees) in few platforms to getting some services,
if they only receive usdt i have to spend minimum 1$ fees, so i think in business of course should accept multiple currencies,
company can convert in usdt at any time, if they feel their accepted currencies will go down.