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Author Topic: Can you pay for car repairs with Bitcoin? Why not :)  (Read 715 times)
re-start (OP)
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June 05, 2024, 07:14:15 AM
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 #1

After realizing the high bank fees at my PDR repair shop, I decided to add Bitcoin payment as an option. I noticed that my customers were interested in paying with Bitcoin after I put up posters in my shop. Although no transactions have been made yet, many customers ask me about the posters and how to pay with Bitcoin. I'm happy to introduce them to the world of digital currencies. In the past,I've shared my knowledge of Bitcoin with my friends, and I'm delighted to have the opportunity to do the same in my PDR shop  Cheesy







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June 05, 2024, 07:16:25 AM
 #2

nice Smiley

One small remark tough: it does seem like you're using an old wallet, since you posted a legacy address. Maybe it's a good idea to generate segwit (or even taproot) addresses and save some fees when you want to spend your funds? A new wallet generated with most reputable sofware (and hardware) wallets is usually at least generating segwit addresses

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Plaguedeath
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June 05, 2024, 07:38:21 AM
 #3

How high the bank fees in your country? Huh

I don't think it could be higher than Bitcoin fees if we're talking about daily usage.

Right now the average Bitcoin fees around $2.5 per transaction, I consider it's really high especially if you live in a country where $2.5 is worth of 4 meals.

But, let's see how it goes, you're also show the Bitcoin address here which make anyone can check it anytime.

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June 05, 2024, 07:46:40 AM
 #4

Cool. Good work.

You are already practicing Bitcoin as a currency.
Hopefully that goes smoothly, but using a payment address using the SegWit (bc1) format is better than using the Bitcoin address that you display on the sheet of paper that you have printed.
Using a Benc32 address is cheaper and faster for transactions than using an address starting with 1 or Legacy.

It's even better if you use a special Bitcoin wallet, not a wallet that supports multi coins.

R


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June 05, 2024, 08:04:06 AM
 #5

Nice idea to implement bitcoin payment into your business,  but the truth is that,not many customers will want to pay for repairs using bitcoin, since bitcoin transactions fees could sometimes exceed that of banks, and if I am to patronise your shop, I will not pay with bitcoin,  and rather pay with fiat currency,  reason is that, in my country,  banks transfers are free and instant,  most especially when using a fin tech wallet.

But on a general note, you doing a great job be educating your client's on what bitcoin is and how to use it for payments but always let them know about the current fees and what they stand to be deducted when paying with bitcoin.



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June 05, 2024, 08:14:54 AM
 #6

This is just what you provide to your customers, but do research to see if it is compliant with local laws.

I encourage people to use bitcoin (crypto) more in life's matters, but the reality is that small-scale pioneers appear a lot and stop at theory. Like not all customers know about bitcoin, so the target audience using this solution will be limited. But let's be optimistic about the future trend of using crypto, and this brings some positive stories like if you get customers that can accept bitcoin payments, there will be many other interesting stories between you and the customer can talk about it.









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June 05, 2024, 08:18:37 AM
 #7

After realizing the high bank fees at my PDR repair shop, I decided to add Bitcoin payment as an option. I noticed that my customers were interested in paying with Bitcoin after I put up posters in my shop. Although no transactions have been made yet, many customers ask me about the posters and how to pay with Bitcoin. I'm happy to introduce them to the world of digital currencies. In the past,I've shared my knowledge of Bitcoin with my friends, and I'm delighted to have the opportunity to do the same in my PDR shop  Cheesy




Congratulations, it's great to see that your store accepts bitcoin payments. But you will definitely succeed in it because slowly everyone will start making Bitcoin payments. Everyone would love to have bitcoin payments in your business but you should accept bitcoins in a solid wallet. Since you will be using it for a long time, it is best to use a good software or hardware wallet. You will surely succeed if you continue.

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June 05, 2024, 08:39:41 AM
 #8

Basically I can never use bitcoin only for car repairing even though it has hundreds of benefits because bitcoin is banned in my country and has strict laws on usage. In my country all kinds of services, products etc. are mainly given importance in exchange of paper money but in the case of using bitcoin the bank as well as the government have made strict laws where if someone uses bitcoin he will definitely be jailed with a fine. However, even if Bitcoin is allowed, we may not be able to use Bitcoin only because of the additional fees, since using paper money in this case does not require paying the fee. But in this case, if you use it through person to person p2p, you don't have to pay the additional fee of Bitcoin.

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June 05, 2024, 08:58:38 AM
 #9

Great move by the OP and great that the OP realises that Bitcoin can be an alternative
payment system to FIAT.

At the same time he is validating Bitcoin as reputable by aligning it with his reputable business
and it starts Bitcoin conversations with customers. Its all good!

R


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June 05, 2024, 09:01:20 AM
 #10

Good on you!

Make sure to check that QR code from time to time though, there will be a day(though probably in the far future) where thieves will be changing the QR codes posted in public with their own wallet QR codes. This has already been happening but only online.

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June 05, 2024, 09:07:36 AM
 #11

Smart idea actually. I have never seen such services that accept Bitcoin payment here in my area unfortunately I don't have skills to offer in exchange for Bitcoins either but yeah that is really a nice idea. But I think you should use LN supported wallets or Segwit to lower fees. I can see merchants here in my country specially in Bitcoin Island that accepts BTC but it's on restos, grocery stores and lodging inn's if I am not mistaken never seen repair shops accepting it as of the moment. And yeah they are using LN supported wallets for transactions.



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June 05, 2024, 09:19:19 AM
 #12

good work with a 5% discount can make your customers enthusiastic about shopping, it's a good idea and can be imitated when bank fees are getting higher and are not friendly to our business,
I suggest trying with a newer BTC address using a Segwit address like other friends have suggested, I think it will save more on shipping costs

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June 05, 2024, 09:25:03 AM
 #13

Of course you have given 5 percent discount for this 5% dress count all customers will be attracted to purchase these products. However, in this digital age, accepting payments through digital methods through Bitcoin is completely different, so today's customers will come to buy your store's products the most. But I really like these different ideas of yours and you will surely get great success in the future.

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June 05, 2024, 09:32:45 AM
 #14

After realizing the high bank fees at my PDR repair shop, I decided to add Bitcoin payment as an option. I noticed that my customers were interested in paying with Bitcoin after I put up posters in my shop. Although no transactions have been made yet, many customers ask me about the posters and how to pay with Bitcoin. I'm happy to introduce them to the world of digital currencies. In the past,I've shared my knowledge of Bitcoin with my friends, and I'm delighted to have the opportunity to do the same in my PDR shop  Cheesy
-snip-

This is really good initiative made by a shop owner especially for giving 5% discount for all bitcoin user which could really convince them to go to your shop since aside that they can transact using bitcoin there's also a discount waiting for them and that can help them save money compare if they pay the regular currency that they are using. Hoping if there would be a lot of people will transact using bitcoin in your place since that means there's a lot of people using it and the industry is so alive in your city.

Hopefully we can see a lot merchant accepting bitcoin as payment since for sure this will add up for the strength of bitcoin and can trigger government to adopt since the merchants is already doing some good action towards creating alternative means of payment to people which is working so well in their places.

R


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June 05, 2024, 09:35:06 AM
 #15

It's nice to hear this, but I'm curious which country are you in? I am quite envious of you because you can trade freely with Crypto or Bitcoin. Surely you know, the rules regarding transactions are allowed in your country. Because it is possible that you can get punished by your decision to accept payments using crypto or Bitcoin. It seems that you are also inadvertently curious about the new payment model you accept.

So they started asking questions and would probably study seriously. So it seems that you have become part of the Bitcoin promotion team. Sadly, this situation will not happen in my country because Crypto or Bitcoin is only allowed as a commodity asset. There is a severe punishment that must be received when I violate and are known by the government. So the use of crypto or Bitcoin has not been able to be used for car repairs until now.

R


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June 05, 2024, 09:35:36 AM
 #16

This singular act tells me two things, the government banking policies are making people think of alternatives. Secondly, Bitcoin is the perfect alternative and people are showing greater interest in it. And this interests shows that they are receptive to learning about Bitcoin. If you get more than five people per week asking about Bitcoin and what it is about, you could hold a session for them where you answer their questions or rather print out copies of educational resources on Bitcoin that is adapted to fit your local community.

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June 05, 2024, 10:14:12 AM
 #17

This is exactly what I have said more than once: in order to attract buyers to pay for goods and services in the real sector in bitcoin, it is necessary to attract them with discounts.

Although no transactions have been made yet, many customers ask me about the posters and how to pay with Bitcoin.
Make a discount a little more and BTC-transactions will definitely appear, because for those who don't yet have bitcoin, will need to buy this (minus the exchange commission). Therefore, the 5% discount should be after deducting all conversion and transaction costs on the btc-network.

Even taking into account the discounts provided, you will still make a profit (because you get an asset that is growing in price, and don't store money affected by inflation), and besides, you attract other people to use bitcoin (and advertise), which is already worthy of praise.

Btw.
You'd better replace the poster (it looks artisanal and low quality).
It is better to frame it, choose the appropriate font size and color (yellow is a bad choice).

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June 05, 2024, 10:23:22 AM
 #18

Well, I would say that its a pretty good one, I mean 5% was actually great in my opinion encouraging people to actually pay in Bitcoin, If I have smooth wallet that I could use and low fees 5% is actually going to be a good deal in my opinion and I would definitely do it.

You just need to Remember that Bitcoin is a risky investment so if you are going to do this, it might have some effect on your business overall since it might affect the cash flow of your business, but I guess there was nothing to actually worry about here since your selling services and not all of your customers are paying Bitcoin, you just need to make sure that you know what you are doing, Bitcoin is going to be a risky investment so all of the people that is paying in Bitcoin your gonna need to hold all of that and hold for long term.

Still, it's going to be a good thing to promote Bitcoin in your community and could help with the adaptation.

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June 05, 2024, 10:59:06 AM
 #19

After realizing the high bank fees at my PDR repair shop, I decided to add Bitcoin payment as an option. I noticed that my customers were interested in paying with Bitcoin after I put up posters in my shop. Although no transactions have been made yet, many customers ask me about the posters and how to pay with Bitcoin. I'm happy to introduce them to the world of digital currencies.
this is a very innovative idea that will make your business stand out from most of the people around you. Most youth that already have the knowledge of Bitcoin in your locality will want to patronize you and with time if Bitcoin eventually becomes very popular in your locality, you've played a huge role in making that happen and have successfully written your name in the sands of time. The only issue with this kind of idea is that the items you're selling isn't all that expensive and might cost nothing much that's even up to $100 in most cases which if we put the fees into consideration might not help those buying in smaller quantity to factor the fees into play.

The number of customers you will get will depend more on how many people in your neighborhood  already know about Bitcoin and as well have chunk of Bitcoin in Thier wallet which they will be willing to use in making purchase. Most persons that are buying there Bitcoin for the long term wouldn't want to give it out for the purpose of making purchase since there interest would be to keep holding unto thier Bitcoin for the long term. But in terms of contributing your quarter to increase the advancements in Bitcoin adoption, this is definitely the right step in the right direction.

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June 05, 2024, 11:07:10 AM
 #20

Nice idea to implement bitcoin payment into your business,  but the truth is that,not many customers will want to pay for repairs using bitcoin, since bitcoin transactions fees could sometimes exceed that of banks,
How do car repairs cost? On average they aren’t that big especially if it’s just minor changes and does not require a whole new change of parts. So I really doubt if many would be keen on paying through bitcoin with very expensive transaction fees if they are just going to be paying a few amount anyway.
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But on a general note, you doing a great job be educating your client's on what bitcoin is and how to use it for payments
I also think that it can be useful to attract more customers. I’ve noticed that bitcoin enthusiasts tend to hype up and accept all kinds of promotion of bitcoin in the general public. This alone will have people talking and through this you are already gaining attention to your business.

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