Advantage of Bitcoin as a business man or woman

[kotajikikox]

The main point I think is if you are doing deals with international customers... bitcoin will be the most convenient way of payment you can ever ask for as a businessman. It is a lot faster and much safer, I believe. People can scam you with fake bank transfers but you are able to see in the blockchain the transaction.

Besides, bitcoin has also become something of a marketing tool nowadays. Businesses are using bitcoin to find the community and invite them to try their products or services.

[OcTradism]

The main point I think is if you are doing deals with international customers... bitcoin will be the most convenient way of payment you can ever ask for as a businessman. It is a lot faster and much safer, I believe. People can scam you with fake bank transfers but you are able to see in the blockchain the transaction.

When you are doing your business especially with your trade partners, there is legal thing for consideration on both your side and your trade partner side. You can want to make or receive payment of a business deal in bitcoin but it's up to your trade partner too. If the trade partner does not accept bitcoin by any reason including legal issue, you can not do any business deal in bitcoin with that business entity.

Besides, bitcoin has also become something of a marketing tool nowadays. Businesses are using bitcoin to find the community and invite them to try their products or services.

I don't think any bad thing with this free marketing for Bitcoin to expose it to more people globally. If it is not marketing for scammers on behalf of Bitcoin, it's good and always keep in mind that "Bitcoin is not scam".

[Floxynice]

Bitcoin is a good way of promoting your business.there are no delay during payments, onlike are local banks that go on Holidays, Bitcoin doesn't go on holidays. The are  available 24/7. Let's all make good use of Bitcoin in our business.

I use Trust Wallet for my regular Bitcoin transactions. One major challenge to note is the delays I sometimes experience while waiting for the transaction to be confirmed. This is not good for business. In my opinion, when it comes to transaction processing speed, fiat isn't that bad, except for some few cases when there is a little network glitch.Yes, Bitcoin performs better than fiat in several ways, but we can exclude comparing Bitcoin and fiat in terms of speed.

[KiaKia]

Bitcoin is a good way of promoting your business.there are no delay during payments, onlike are local banks that go on Holidays, Bitcoin doesn't go on holidays. The are  available 24/7. Let's all make good use of Bitcoin in our business. Bitcoin transactions can cost just fractions of a cent and it's really good for international payments.

No it's not, many merchants are not accepting bitcoin around the world, its only a handful of business that's accepting Bitcoin and countries varies, the only way business men can take advantage of Bitcoin is easy DCA.

Its not as if your business will boom even more because you are accepting Bitcoin as your means of payment, many have tried and it doesn't help much because people around the world prefers to hold their Bitcoin rather than spending it.

Having a business and making money will earn you more bitcoin, you will be able to DCA better with convenience, bit if using Bitcoin as money is what you meant then know that bitcoin serves more as store of value than using bitcoin as money.

[Z_MBFM]

Bitcoin is a good way of promoting your business.there are no delay during payments, onlike are local banks that go on Holidays, Bitcoin doesn't go on holidays. The are  available 24/7. Let's all make good use of Bitcoin in our business. Bitcoin transactions can cost just fractions of a cent and it's really good for international payments.

Bitcoin transactions take a long time to complete, so this can be a disadvantage, and since Bitcoin transaction fees fluctuate depending on network congestion, the cost here will be higher than fiat transactions. Banks may be closed on holidays, but now almost all banks are covered by internet banking services, so it is possible to do banking transactions 24/7.

Bitcoin is an investment asset and the longer you hold Bitcoin, the more profit you can make, so I think it is better to hold it and not transact Bitcoin for any reason. Yes, it would certainly be admirable if someone accepted Bitcoin payments for their business. However, Bitcoin payments will not always carry anything positive.

[cryptoaddictchie]

Bitcoin is a good way of promoting your business.there are no delay during payments, onlike are local banks that go on Holidays, Bitcoin doesn't go on holidays. The are  available 24/7. Let's all make good use of Bitcoin in our business. Bitcoin transactions can cost just fractions of a cent and it's really good for international payments.

If the network has a lot of traffic transaction via bitcoin might also get affected since its run on blockchain. So if youre a businessman and used it, dont rely too much on that but add it as an additional choice of payment regardless since this could happened especially if the business is related to food a lots of people are into it.

[Nwada001]

Bitcoin is a good way of promoting your business.there are no delay during payments, onlike are local banks that go on Holidays, Bitcoin doesn't go on holidays. The are  available 24/7. Let's all make good use of Bitcoin in our business. Bitcoin transactions can cost just fractions of a cent and it's really good for international payments.

If you are moving around with this orientation and convincing people to accept bitcoin in their small business, you might be making a mistake. Fiat and cash are the perfect payment methods for some small local businesses; the bitcoin fee is not friendly for such goods that are just worth the money that might be spent on the fee.

Another thing is that there are times when the network is congested and you spend much more time than with a bank transaction; it takes seconds less down to minutes for some interbank transactions to reach.

[Mrbluntzy]

Bitcoin is a good way of promoting your business.there are no delay during payments, onlike are local banks that go on Holidays, Bitcoin doesn't go on holidays. The are  available 24/7. Let's all make good use of Bitcoin in our business. Bitcoin transactions can cost just fractions of a cent and it's really good for international payments.

How many days holiday does our local banks take and does the bank stop online banking services during those holidays period? Just the way Bitcoin transactions can be done online,  so as bank transactions can also be conducted via data connections, you don't have to visit a banking center before payment. If you choose to accept Bitcoin in your business, it's just to enhance the business and also stand a chance of benefits from Bitcoin volatility, not really because of bank issues. If you ask me, I would say Fiat is working perfectly fine but should business adopt Bitcoin, yes but at will.

[Fiatless]

How many days holiday does our local banks take and does the bank stop online banking services during those holidays period? Just the way Bitcoin transactions can be done online,  so as bank transactions can also be conducted via data connections, you don't have to visit a banking center before payment. If you choose to accept Bitcoin in your business, it's just to enhance the business and also stand a chance of benefits from Bitcoin volatility, not really because of bank issues. If you ask me, I would say Fiat is working perfectly fine but should business adopt Bitcoin, yes but at will.

But when you have some transaction failures or other issues, you would have to go to the bank to rectify it. And during holidays or weekends, some banks don't offer services. Accepting Bitcoin in your business could be a means of attracting crypto users to patronise the venture. Fiat banking has some challenges because of government policies, so we can't say banks are working without flaws.

[retreat]

The main point I think is if you are doing deals with international customers... bitcoin will be the most convenient way of payment you can ever ask for as a businessman. It is a lot faster and much safer, I believe. People can scam you with fake bank transfers but you are able to see in the blockchain the transaction.

Besides, bitcoin has also become something of a marketing tool nowadays. Businesses are using bitcoin to find the community and invite them to try their products or services.

For cross-border payments, Bitcoin is the best choice, because if you use Skrill or Neteller, they will charge you high fees, and they can freeze your transactions whenever they want. It's basically very centralized, longer, high fees, and more complicated. Whereas by using Bitcoin, you can transact anytime you want. The fees you use are also so affordable and no one will be able to intervene in the transactions you make and you only need to wait a certain amount of time for the transaction to be completed. In other words, using Bitcoin in cross-border transactions is the best choice that business people can make.

[Ryu_Ar1]

Everything will still have risks because after all the worst possibilities will always exist and don't forget that at this time the network fee may still be very friendly but we must be aware that this situation can change especially when network congestion starts to exist then we must be prepared for the worst possibilities such as transactions that are slightly stalled because they are waiting for the fee to be a little lighter or forced with a larger nominal for the network fee.

On the other hand, when we use bitcoin as a payment option, indirectly the calculation for the costs incurred for transactions must also be considered because I am quite sure that customers will not want to pay more (maybe for those who want to try new things) but not all will do this so this must also be used as more thought so that we don't get caught up in a business that only thinks about the positives but doesn't pay attention to small details like this.

Being in bitcoin is indeed very good and doing business using bitcoin is also not prohibited but when we choose this then we must be prepared for the risks that we will feel because being in bitcoin whether it is used as an investment or as a means of doing business, especially in transactions, all of them still have the same problem where risk will always exist.

[CryptoHeadlineNews]

Bitcoin is a good way of promoting your business.there are no delay during payments, onlike are local banks that go on Holidays, Bitcoin doesn't go on holidays. The are  available 24/7. Let's all make good use of Bitcoin in our business. Bitcoin transactions can cost just fractions of a cent and it's really good for international payments.

This is absolutely a shallow explanation as regards to the advantage Bitcoin has for both business men and women, because I initially I expected advantages , such as the ability to have full control over your funds, it is also fast and reliable that can be used without the influence of a third party. Because the advantages of Bitcoin are absolutely numerous to mention, as a decentralized digital currency, with a potential of standing as an hedge to inflation for those will wish to save their business funds on a secure medium of exchange.

[Frankolala]

Bitcoin is a good way of promoting your business.there are no delay during payments, onlike are local banks that go on Holidays, Bitcoin doesn't go on holidays. The are  available 24/7. Let's all make good use of Bitcoin in our business. Bitcoin transactions can cost just fractions of a cent and it's really good for international payments.

Fiat is more easy to use for payment than bitcoin in the same locality because you don't need to pay for any transaction fee because either you pay with cash or by bank transfer. However, the country that you are living will also determine the acceptance of bitcoin in your business. Bitcoin is good for cross border payment because it does not need intermediary that will help you facilitate your transaction. Bitcoin is good for payment if you love to but when the network is congested, you will be discouraged.

[|MINER|]

Bitcoin is a good way of promoting your business.there are no delay during payments, onlike are local banks that go on Holidays, Bitcoin doesn't go on holidays. The are  available 24/7. Let's all make good use of Bitcoin in our business. Bitcoin transactions can cost just fractions of a cent and it's really good for international payments.

Although I agree with the other points, but I will disagree that there is no delay in Bitcoin transactions. Because I have faced many times that due to Bitcoin's mempool congestion, the transaction took more than 24 hours to complete.
Yes, it is not that like you cannot make a transaction quickly, you can make a transaction quickly if you want, but in that case you have to pay huge transaction fees which no one really wants to do.

And since you are talking about business, I would say that if you are not aware of the highly volatile market of Bitcoin, gain knowledge about it and then if you want to implement it in your business, you can include it using a good gateway. Otherwise, if you implement it without any plan or proper management, then there will be a possibility of loss in your business.

[sheenshane]

Bitcoin is a good way of promoting your business.there are no delay during payments, onlike are local banks that go on Holidays, Bitcoin doesn't go on holidays. The are  available 24/7. Let's all make good use of Bitcoin in our business. Bitcoin transactions can cost just fractions of a cent and it's really good for international payments.

It's ideal to have a payment option in your business, especially if it's an online business, which is very beneficial.
It offers advantages to many online sellers, particularly those who frequently experience chargebacks.
This might serve as protection for your store, which I know can happen sometimes.

However, keep in mind that there are cons to using Bitcoin as a payment method.
The main issue is price volatility, which could lead to losses if you don't convert to fiat quickly.  But if you treat it as a long-term investment, that could be a better idea.

[The Cryptovator]

It's true Bitcoin payment would be a promotional slogan for business. If your country allows you to use Bitcoin, then you can accept Bitcoin for your business; that would help to grow your business. But there are some issues as well. When the Bitcoin network becomes congested, then transactions would be delayed for low fees. On the other hand, if you want an instant transaction, then the buyer has to spend high fees that would discourage the buyer from making payment through Bitcoin. If a transaction does not become confirmed, then there is a risk as well of double spending. It means things aren't easy, as you are saying.

[sokani]

C'mon OP, It's either you don't know what you're saying, or you're just hyping Bitcoin. As much as I like Bitcoin and I want it to be integrated into local businesses to give customers more options in paying for goods, there's nowhere fiat cannot be used during holidays. Even when banks are closed for a longer period of time, you can easily perform transactions online.

[bubilas]

Bitcoin is a good way of promoting your business.there are no delay during payments, onlike are local banks that go on Holidays, Bitcoin doesn't go on holidays. The are  available 24/7. Let's all make good use of Bitcoin in our business. Bitcoin transactions can cost just fractions of a cent and it's really good for international payments.

Unfortunately, paying with bitcoins in the countries I have visited is a very complicated legal method in almost all of them.
The thing is that the price of bitcoin is constantly changing and I think the authorities can't decide how best to calculate taxes. I mean the situation when you pay in bitcoins and it is unclear after some time whether you should be taxed for the fraction of bitcoin that you paid or for the fraction of the dollar equivalent of the price at the time you paid.

[SatoPrincess]

Bitcoin is a good way of promoting your business.there are no delay during payments, onlike are local banks that go on Holidays, Bitcoin doesn't go on holidays. The are  available 24/7. Let's all make good use of Bitcoin in our business. Bitcoin transactions can cost just fractions of a cent and it's really good for international payments.

Banks in your country don’t work on holidays? Also it is inaccurate that fees are always cheap, it’s not unusual to see high fees when the network gets congested. If these are your only reasons why businesses should adopt bitcoin then you probably won’t be able to convince anyone. 

[melinoe]

Bitcoin is a good way of promoting your business.there are no delay during payments, onlike are local banks that go on Holidays, Bitcoin doesn't go on holidays. The are  available 24/7. Let's all make good use of Bitcoin in our business. Bitcoin transactions can cost just fractions of a cent and it's really good for international payments.

Banks in your country don’t work on holidays? Also it is inaccurate that fees are always cheap, it’s not unusual to see high fees when the network gets congested. If these are your only reasons why businesses should adopt bitcoin then you probably won’t be able to convince anyone. 

I do think that the support would be advertised as 24/7, however, the hours during the holidays would be smaller.

And, yeah, fees may be big sometimes - it's inevitable with the current state of things.