Option for customers to pay with Bitcoin and other crypto in physical store

[test2026]

What are the pros and cons of this ? Can this increase sales in the physical store because some would like to spend crypto in bulk which they are getting from some source ?

[Reatim]

What are the pros and cons of this ? Can this increase sales in the physical store because some would like to spend crypto in bulk which they are getting from some source ?

what would be the difference of buying online versus at a physical store?

i think that buying things online leads more people to buying with bitcoin since they would not have to leave home and most importantly they can use digital money to efficiently pay for whatever it is that they bought

the pro i can think of paying with bitcoin in physical stores for customers is not having to carry cash with you but a con is you need to have internet connection for this

[test2026]

What are the pros and cons of this ? Can this increase sales in the physical store because some would like to spend crypto in bulk which they are getting from some source ?

what would be the difference of buying online versus at a physical store?

i think that buying things online leads more people to buying with bitcoin since they would not have to leave home and most importantly they can use digital money to efficiently pay for whatever it is that they bought

the pro i can think of paying with bitcoin in physical stores for customers is not having to carry cash with you but a con is you need to have internet connection for this

Almost everyone has a smartphone with internet these days.

[Despairo]

I don't think so, it's only make people have experience to pay in Bitcoin.

Even though each transaction require fees which encourage people to spend more, but people aren't regularly use Bitcoin as payment tool. So, they won't encouraged to spend in bulk, they don't mind if they pay fees 10% from the price of the product they wanna buy.

I don't know how much the annual/monthly fees and electricity cost, but I think in the long run it won't be profitable.

[348Judah]

What are the pros and cons of this ? Can this increase sales in the physical store because some would like to spend crypto in bulk which they are getting from some source ?

How do you also see it in a condition whereby a customer is only presented with a single means of making payment with the scenario whereby he have varieties of ways he can use in making payments, we already knows the best answer to that, because customers will always want to have a more conducive payment options to use, unlike when they are stocked at using only a single type, having a varieties with the types that supports crypto will even attract more customers who are willing to patronize and pay in bitcoin or any other related crypto being accepted.

[EL MOHA]

What are the pros and cons of this ? Can this increase sales in the physical store because some would like to spend crypto in bulk which they are getting from some source ?

We have been continuously asking of the advantages of introducing bitcoin as a payment method in a business, for me the clear disadvantage it actually brings if it is a local business is simply spreading adoption through business awareness, both the seller and the buyer are simply spreading awareness to others, does it add more customers? I will say not really because they can still pay with local currency except for those bitcoin enthusiasts that will like to support the movement.

If it is online business or vendor I think aside it been also increasing the adoption rate we can say it promotes the business and brings in more business customers because people outside that county or others or do not use the required fiat currency of the business owner wouldn’t have much of a hassle converting between their currency and the business owners as they can simply use bitcoin and this will promote the business more because of the ease that comes with its Payment.

Cons for me is aside the transaction confirmation is the regulation of the business owners country, for me it is risky accepting it as a payment in a country which doesn’t supports or approves bitcoin yet

[BIT-BENDER]

What are the pros and cons of this ? Can this increase sales in the physical store because some would like to spend crypto in bulk which they are getting from some source ?

Fiat is still highly regarded and using Fiat right now as a means of payment is still effective and people have no complains doing so as their sales has still been ok.

Although I will say if you run a physical store and still operate online and you have customers with from different countries then the use of Crypto-currency can increase your sales as transaction made with crypto are more easier, faster and considerably cheaper.

[Faisal2202]

What are the pros and cons of this ? Can this increase sales in the physical store because some would like to spend crypto in bulk which they are getting from some source ?

Haha some source, you are referring to it as some shady source. Do you mean to ask if we could launder our crypto via these physical stores to buy things? As if we could get the product they are selling and sell it to someone else for fiat, it means we successfully laundered our money. Well, if that's what you are asking, then as a business owner, I would love to use centralized exchanges for payments.

Because at least these exchanges have some AML and other parameters in place that can save me from black money or money from illegal sources, plus it will be beneficial for both parties to transfer money from exchanges as it can reduce fee to none.

[Franctoshi]

In a physical shop where there are so many payment options such as fiat or using crypto to make payment too, I would rather use fiat to save cost and preserve my Bitcoin except in the situation of an emergency where I do not have cash with me to run my purchases then using Bitcoin will be my best option here.

[Pi$$]

What are the pros and cons of this ? Can this increase sales in the physical store because some would like to spend crypto in bulk which they are getting from some source ?

sales is not improved by just the payment option that is being implemented. sales are improved by good customer service, sales of good product and by strategically locating the business in a good environment that has a lot of people that will be willing to patronize the product. in addition, crypto holders are not usually disposed to selling off their crypto for no just reason.

in physicals stores, fiat is what is preferable to crypto. a typical crypto transaction takes minutes before the recipient gets it, with fiat, that is not applicable. also, crypto is volatile and so, a coin you accepted for payment might get bearish before the time of spending it.

[Dailyscript]

What are the pros and cons of this ? Can this increase sales in the physical store because some would like to spend crypto in bulk which they are getting from some source ?

Fiat is still highly regarded and using Fiat right now as a means of payment is still effective and people have no complains doing so as their sales has still been ok.

Although I will say if you run a physical store and still operate online and you have customers with from different countries then the use of Crypto-currency can increase your sales as transaction made with crypto are more easier, faster and considerably cheaper.

Bitcoin doesn't stop fiat to be used for steady transactions same way Fiat does not stop bitcoin either. Both can be use to carry out business, sealing deals as long as the parties involved are cool with it.

Apart from owning an online store, local stores can make use of Bitcoin if the customers coming there are people who are willing to pay with Bitcoin. I have visited a super store that accepts bitcoin as payment personally.

[CryptoHeadlineNews]

What are the pros and cons of this ? Can this increase sales in the physical store because some would like to spend crypto in bulk which they are getting from some source ?

Judging from this strategically, a method of payment been used by a business venture doesn't literally increase or decrease it's level of sales, as it is effective marketing that could increase the sales of either a product or services in our respective geographical locations. And as such, the advantages or disadvantage of using Bitcoin in a physical store may differs with respect to different factors, such as the laws in that territory, whether is it Bitcoin friendly or not, followed by it's volatility (i.e being a decentralized digital currency whose price value fluctuates every seconds), whereby it's value can either depreciate or appreciate instantly planning to execute transaction, and thirdly, it's fees, as it's current fees is another factor to always consider when planning to execute a physical Bitcoin transaction, since the fees can be high when the Bitcoin mempool is congested. While lastly a delay in Bitcoin transaction confirmation can also be another huge challenge with the use of Bitcoin for physically transactions. Hence, Bitcoin is most suitable for transaction that involves huge amount and a means of fast payment for international payments.

[aoluain]

According to Michael Saylor FIAT is a perfect form of transaction payment, as in
when buying something in a shop, Bitcoin not as much, better though via the
Lightning network.

Pro's to accepting Bitcoin as payment in a physical shop - well you are offering another
means for potential customers to pay.

I cant think of any Con's though....

Will Bitcoin payments increase sales? I doubt it, I would be thinking if someone
wants to buy something they will and wont necessarily buy something
purely because they can with Bitcoin.

Everyone has both FIAT and Bitcoin.

[Mrbluntzy]

What are the pros and cons of this ? Can this increase sales in the physical store because some would like to spend crypto in bulk which they are getting from some source ?

It will only increase sales if there are so many Bitcoin users in the neighborhood or area that the physical stores are operating from. The only way to find out is to make it known to customers that you now accept Bitcoin, you can put a signage in your store because that would be necessary to inform every customer and even passersby that the store is accepting payments in Bitcoin and other cryptocurrency. When that is done, you can then start to keep track of the sales you make via Bitcoin payments and the traditional payment and like I said, you will have more sales in crypot if only there are many crypto users in the area. For the pros and cons, crypto is a volatile digital money and the physical store owners needs to know how they would manage the situation.

I was wondering, if I purchase a gallon of olive oil from a physical store and the oil sold for $50 and I paid the money In Bitcoin equivalent, after leaving the store, the price of Bitcoin plunges badly, would the store owner not be in lose? That's the situation am referring to, such situation should be something that the store owner should know how to manage.

[Zigabel]

What are the pros and cons of this ? Can this increase sales in the physical store because some would like to spend crypto in bulk which they are getting from some source ?

The vast majority who are involved with Bitcoin uses it mostly for investment purposes and some other time as a payment alternative but it's only a few who directly accepts Bitcoin as payment for certain good, commodities or services and so except for an environment saturated with too many crypto enthusiasts,  it's never completely a stance Upon which businesses promises to flourish resulting from the acceptance of Bitcoin. 

For physical stores except they incorporate the services of converters who stands in between them and the customers to accept and confirme the payments,  I don't think it's going to completely be one in which they can result to using immediately considering how much of hiccups they could encounter accepting cryptocurrencies generally. But then for huge and bigger deals where the traditional banking systems would want to be bypassed,  it can be employed and serve as a better or even the best alternative.

[Alphakilo]

What are the pros and cons of this ? Can this increase sales in the physical store because some would like to spend crypto in bulk which they are getting from some source ?

The pro of having an option for customers to pay with bitcoin and other cryptos in a physical store is that it attracts bitcoin enthusiast who want to pay with bitcoin. That is new customers and increased sales.

This pro is location dependent. The physical store should be in a place like an urban center where you have people who are likely to know more about bitcoin.

The con that I can think of is that if the store owner don't have a system to manage the bitcoin coming it, they may lose it to market instability and that can affect the revenue of the business.

[Orpichukwu]

What are the pros and cons of this ? Can this increase sales in the physical store because some would like to spend crypto in bulk which they are getting from some source ?

If you are operating a shop where you accept bitcoin or any other crypto, there is a high tendency that you will attract a lot of youth to your shop since most of them are into crypto, but there won't be much difference if you are not adding anything up to spice up your service, as your competitors can also be doing the same thing. The disadvantage is if you are not using a payment processor and your shop is so small, you might run into losses sometimes if the price of bitcoin drops down below the price your customer paid with.

[Smack That Ace]

Increase revenue for your store/company just by adding payment methods? I really can't imagine how that would work since bitcoin/crypto isn't a mainstream asset/payment method everyone is familiar with and uses daily. Even investors like us are not comfortable and want to use our crypto assets for spending.
In business, what customers care about is product variety, quality and price, no customer will be interested in your store just because it offers bitcoin payment methods.
If you want to add bitcoin to your business to make it interesting and different, that's fine. But if your goal is to find ways to increase business revenue, it is ineffective and pointless. Instead of just focusing on payment methods, focus on improving products, service attitude, preferential policies...

[Ever-young]

Asides the high tx fees attached to spending spending bitcoin on purchases on a physical store, I see absolutely nothing wrong with that. In fact it’ll help fulfill the purpose for which Bitcoin was initially created. Today Bitcoin serves lots of purposes, from serving as a store of value to being traded and several other purposes but not everyone actually uses Bitcoin for p2p transactions today, so creating an avenue where Bitcoin could be spent to purchase goods and services from a physical store could really be a great way to make more people adopt Bitcoin.

[Donneski]

What are the pros and cons of this ? Can this increase sales in the physical store because some would like to spend crypto in bulk which they are getting from some source ?

Of course, Bitcoin was basically created for the purpose of serving as a peer-to-peer digital currency so if Bitcoin users can be given the option paying for every goods and services with Bitcoin, it is simply fulfilling the purpose of Bitcoin. Just the the charges for making crypto transactions are most times higher than using the conventional bank transfers but asides the charges, I think it'll be very beneficial to Bitcoiners and the crypto community in general.