Am just curious, how would I go about this

[Finestream]

First of all the Dollar itself already losses its value for decade now, and Bitcoin payment is not new Country like El-Salvador using bitcoin as legal tender but the other gov seems don't like it, there is news that tell The IMF has been asking El Salvador for changes regarding bitcoin since 2021, when the Central American country established it as a legal tender. https://finance.yahoo.com/news/imf-urges-el-salvador-again-215246529.html

And as for now there are bunch of processing payment like the well known bitpay or coinbase commerce that basically can turn your bitcoin into fiat directly after the transaction so you don't really care about the up and down

This is good if you are accepting bitcoin only for the sake of having it as a mode of payment. But if you have another goal why you chose to accept bitcoin, like holding a sufficient amount of it and just sell when there is new ATH, then having it's volatility is a good option. However, the best solution I can suggest is set a limit amount for bitcoin that you will receive per daily transaction, and not just accept every now and then until you realized in the end that you have no fiat available but all have been paid in bitcoin that becomes a threat when volatility becomes high.

[GeorgeJohn]

Bitcoin as the first cryptocurrency was not just created for investment purpose, it was actually created as a means of payment and to be honest, the adoption process isn't as fast as expected, but one thing that am very curious about and I have been thinking on how to go about it as a business man while accepting it as a means of payment is it volatility,

As you portrayed above, that bitcoin will be advantageous, yes of course, bitcoin yield positive if you know the systematic ways to apply bitcoin to your investment, their is every tendency that if you use bitcoin as means of accepting payment in your business, it can enhance the success of your business during the time the price will skyrocket or experience a bullrun, the thing is that people always taught of the disadvantages aspects of bitcoin but they don't think of the advantages impact of bitcoin when it come in terms of business, when you have extra funds to run your business, I can encourage you to accept Bitcoin as a means of payment because of its volatility, because once you are a bitcoin holder and probably the price increases in the market, its obvious that you will be a beneficiary of the sudden increment.

[$weetne$$]

The crypto market is not stable as the market always goes up and down and the price of the currency fluctuates so investors prefer to invest in bitcoin for the long term. In business if you have bitcoin in such a situation you will get better results if you keep it for long term without taking any risk. When it comes to payment most people prefer fiat to buy things with cash, but it's entirely up to you. To get something good, people have to work hard. Go ahead with the plan and hold on to the bitcoins instead of selling them.

You can be different and it will attract customers to you. I do not know which region you are located at but if you are in a region that the government are not against Bitcoin, you can accept it for your business as it also helps in the adoption of Bitcoin because we need smaller businesses to start accepting Bitcoin since the bigger businesses are not accepting Bitcoin. You can accept Bitcoin and not lose  because you are not thinking about selling now but hodling for Bitcoin to get to new highest price before you sell. There are many users that are looking for where to spend their Bitcoin and other cryptocurrency therefore if you provide a place for that to happen, you can make a money from the small commission or charges that you will be adding to the service that you are offering.

[dansus021]

First of all the Dollar itself already losses its value for decade now, and Bitcoin payment is not new Country like El-Salvador using bitcoin as legal tender but the other gov seems don't like it, there is news that tell The IMF has been asking El Salvador for changes regarding bitcoin since 2021, when the Central American country established it as a legal tender. https://finance.yahoo.com/news/imf-urges-el-salvador-again-215246529.html

And as for now there are bunch of processing payment like the well known bitpay or coinbase commerce that basically can turn your bitcoin into fiat directly after the transaction so you don't really care about the up and down

This is good if you are accepting bitcoin only for the sake of having it as a mode of payment. But if you have another goal why you chose to accept bitcoin, like holding a sufficient amount of it and just sell when there is new ATH, then having it's volatility is a good option. However, the best solution I can suggest is set a limit amount for bitcoin that you will receive per daily transaction, and not just accept every now and then until you realized in the end that you have no fiat available but all have been paid in bitcoin that becomes a threat when volatility becomes high.

I know by holding it bitcoin alone then you can still made profit from it, but you missing the point frennn the OP Asked "In a situation whereby you accept it as a means of payment while selling off your goods, then when  you are out of stock, so you decide to restock your shop, so by then price of Bitcoin has dip so much that you can't buy all the goods needed in your shop, due to the fact that your money has depreciate in value because of the dip, what is the way forward in such a situation if your emergency funds can't cover up for the shortage?"

Meaning that the merchant always needs fresh cash to keep the store running. I mean accepting bitcoin as payment and turn back into fiat is okay In my opinion this is the first step.
The best option in my opinion is just to keep the slice of profit in the bitcoin so you just don't turn all the money into fiat

[Smack That Ace]

Bitcoin as the first cryptocurrency was not just created for investment purpose, it was actually created as a means of payment and to be honest, the adoption process isn't as fast as expected, but one thing that am very curious about and I have been thinking on how to go about it as a business man while accepting it as a means of payment is it volatility,

As you portrayed above, that bitcoin will be advantageous, yes of course, bitcoin yield positive if you know the systematic ways to apply bitcoin to your investment, their is every tendency that if you use bitcoin as means of accepting payment in your business, it can enhance the success of your business during the time the price will skyrocket or experience a bullrun, the thing is that people always taught of the disadvantages aspects of bitcoin but they don't think of the advantages impact of bitcoin when it come in terms of business, when you have extra funds to run your business, I can encourage you to accept Bitcoin as a means of payment because of its volatility, because once you are a bitcoin holder and probably the price increases in the market, its obvious that you will be a beneficiary of the sudden increment.

Overall, the ultimate goal is that we should try to hold as many bitcoins as possible and hold them for as long as possible to make a profit. If that's what you mean then I think we just need to run the business well and use the profits to invest in bitcoin. We don't need to complicate holding by applying bitcoin to our business.

I don't know what OP's purpose is in applying bitcoin to his business. But if the purpose is just to collect and hold bitcoins, he can buy and hold whenever he wants, he does not need to make bitcoins a payment method for business.


OP, Satoshi created bitcoin as a means of payment but I guess he didn't think it would be so volatile, and I think with the high volatility of bitcoin it's really not suitable as a means of payment or currency. It brings more risks than benefits when we use it as a payment method for our business.

[YUriy1991]

I know by holding it bitcoin alone then you can still made profit from it, but you missing the point frennn the OP Asked "In a situation whereby you accept it as a means of payment while selling off your goods, then when  you are out of stock, so you decide to restock your shop, so by then price of Bitcoin has dip so much that you can't buy all the goods needed in your shop, due to the fact that your money has depreciate in value because of the dip, what is the way forward in such a situation if your emergency funds can't cover up for the shortage?"

Meaning that the merchant always needs fresh cash to keep the store running. I mean accepting bitcoin as payment and turn back into fiat is okay In my opinion this is the first step.
The best option in my opinion is just to keep the slice of profit in the bitcoin so you just don't turn all the money into fiat

The trader's math is fast and I think if the OP is ready it's no problem and even if the goods the stock in the store runs out can submit several options to the distributor in terms of payment with fiat later. In addition, traders usually have reserve cash that can be used at any time without having to sell their BTC ownership from the sale of goods in their store when the price is corrected.