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

[peter0425]

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

Depends on what the product they are selling and in which country this physical store is in because if it is in a country where bitcoin is not that popular, I doubt that many would travel country to country just to experience using bitcoin in a store.

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.

A lot of stores already use electricity and they also have internet connection. I do not think they need to add more in their electricity bills if they decide to accept bitcoin for payment.

[Japinat]

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 ?

Using Bitcoin doesn't have a huge impact on sales. Because what they buy using Bitcoin is just equivalent to using fiat money. There is no sales improvement, nor will it encourage people to spend more. What they see is the option of payment, like having a credit card. But despite this situation, at least it shows adaptation. The more stores that open this payment option, the more it encourages crypto users to use their Bitcoin as a form of currency. In fact, that is what we want to see, where it is completely recognized as currency.

[irhact]

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 ?

Could also put the business at risk of getting questioned due to the high inflow of cryptocurrency transactions and I think some fraudsters will begin to make use of that physical store to covert their stolen cryptocurrency to valuable things that they can buy in the store. It'll make the physical store to become popular and also help to spread the messages on Bitcoin adoption but anyone that wants to do this has to be ready for the negative things that'll accompany such a move especially for small brands that aren't well known to not be accused of being used for money laundering and other crimes. The sales in the shop will likely increase but so will the attention.

[fuguebtc]

What are the pros and cons of this ?

The downside of using bitcoin as a payment method is that we will have to pay extra fees for each transaction and sometimes there will be delays.

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

Adding bitcoin payment option not only does not increase sales for your store but even causes your store to lose revenue due to bitcoin volatility.

Everyone blames the government and says that because they did not legalize bitcoin as a currency, many businesses do not accept bitcoin for payment. That's not wrong, but in reality, the government isn't the only barrier preventing businesses from adopting bitcoin. Transaction fees and volatility are not advantages to using it as a currency or payment method.

[Awaklara]

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 ?

Can increase sales of physical stores, if their market is mostly Bitcoin users. But if the market of the physical store that uses Bitcoin is only a minority, it will not have any impact on store sales.
What is done is only to help store customers to choose other payment options that help customers comfortably. Customers who have Bitcoin do not need to withdraw to fiat first before buying goods/services offered by physical stores.

[Btcdeybodi]

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 ?

OP is not the payment option that can increase sales in a physical store because even if some people will buy items in large quantity using huge amount of cryptos, there are also those that will buy some low budget items with little amount of cryptos so it's not as if it will be different from how people spend Fiats, the difference is just that using cryptos to buy items is a kind of making the transaction private and without your real identity unlike when you make transactions with Fiats and your name appears on the recipients transaction history.

[moneystery]

these days it seems that people are becoming more reluctant to use their bitcoins in physical stores, because they understand that holding bitcoins can give them more profit than just spending it on goods that can be more easily purchased using fiat. and even if the physical stores open payment methods using bitcoin or popular altcoins, it will not increase their sales either, because besides crypto owners choosing to hold themselves to spend their crypto, they also consider the waiting time and fees on the transaction. but it would be cool if physical stores make payment methods in bitcoin or popular altcoins, at least customers can get more options on their payments.