We need solutions.

[BitcoinSterilizer]

solutions that allow shop owners to accept Bitcoin and auto-convert to naira instantly to avoid volatility.

What I know is when you receive Bitcoin you convert it to USDT or you leave it in Bitcoin and then trade it using P2P exchange, so if a supermarket is interested in accepting Bitcoin they should employ someone who will be in charge in doing the P2P trading, for now I don't think there's an auto-convert to naira app or device, however it can still be developed.
Having auto-convert to naira will be helpful because shops can now be accepting payment through Bitcoin without fear of volatility.

Some people may say it those not matter and that why should a shop owner be scared of Bitcoin volatility when even if Bitcoin falls in price it will surely rise again, if you are having this thought you need to understand that this is a business and they sell and restock there goods and they do this with the money they have already sold so you see they need to always have there money complete.

I'm happy to be here, I never knew we have Nigeria discussion place here.
Other forum I join don't have a place like this.

[Nathrixxx]

solutions that allow shop owners to accept Bitcoin and auto-convert to naira instantly to avoid volatility.

I don't see a reason for business owners to avoid volatility by converting their bitcoin to naira or stablecoin, because we can still earn more from what we are holding if the market rises the more and be in profit, while if the market dumps we may lose, but that is not always permanent because it often rises back and we can from this volatility be selling and buying and go into partial trade converting from Bitcoin to stablecoin and buying again, but it's not a perfect idea that we should convert to naira because of currency devaluation and inflation affecting the fiat economy.

[BitcoinSterilizer]

solutions that allow shop owners to accept Bitcoin and auto-convert to naira instantly to avoid volatility.

I don't see a reason for business owners to avoid volatility by converting their bitcoin to naira or stablecoin, because we can still earn more from what we are holding if the market rises the more and be in profit, while if the market dumps we may lose, but that is not always permanent because it often rises back and we can from this volatility be selling and buying and go into partial trade converting from Bitcoin to stablecoin and buying again, but it's not a perfect idea that we should convert to naira because of currency devaluation and inflation affecting the fiat economy.

Mr Nathrixxx you need to learn how to finish what someone wrote before you start commenting in other to avoid sounding uneducated.
If you had finished what I wrote you will see the reason why volatility in Bitcoin is a problem for business owners, ok let's imagine you own a supermarket and you bought goods worth 2 million into your supermarket and then within 1 month you have sold goods worth 1.5 million and you also need to restock the supermarket meaning buying more goods because the supermarket is empty since they have bought a lot and let say the people that bought this goods used Bitcoin to purchase and you decide to leave it in Bitcoin and when you now decide to go to market so you can restock your supermarket a dip happened in Bitcoin and your 1.5 million became 1 million what will you do is that not shortage and will you say you won't restock till Bitcoin goes up again and then lose customers, remember is a business and one needs to make things ready and available always.

[Joy_learns_crypto]

What I know is when you receive Bitcoin you convert it to USDT or you leave it in Bitcoin and then trade it using P2P exchange, so if a supermarket is interested in accepting Bitcoin they should employ someone who will be in charge in doing the P2P trading, for now I don't think there's an auto-convert to naira app or device, however it can still be developed.
Having auto-convert to naira will be helpful because shops can now be accepting payment through Bitcoin without fear of volatility.

Some people may say it those not matter and that why should a shop owner be scared of Bitcoin volatility when even if Bitcoin falls in price it will surely rise again, if you are having this thought you need to understand that this is a business and they sell and restock there goods and they do this with the money they have already sold so you see they need to always have there money complete.

I'm happy to be here, I never knew we have Nigeria discussion place here.
Other forum I join don't have a place like this.

There are app that auto converts your cryptocurrency into Naira but you need to search that yourself because I have not used those apps.
But for such business to have bitcoin as payment they are not worried about volatility, if that matters so much to them they will only accept stable coins.
You can’t find a solution to something that is not a problem to many.

[Cryptohygenic]

solutions that allow shop owners to accept Bitcoin and auto-convert to naira instantly to avoid volatility.

No solution for stability for bitcoin volatility with the way adoption and market sentiment don dey go for long now and again, u no fit send bitcoin to another wallet and the receiver wallet go automatically convert am to any other coins not until the exchange get the feature of not the only option manual conversion with ur exchange.
Ur wallets no be AI to detect wetin dey ur mind since exchange no even at all get that kind auto convert bitcoin to usdt feature.
Make u no also 1 day try am say u want u want use bitcoin network to send fund with any other usdt network believing say e go auto convert if not, u go dey risk to loose ur money.

[Obim34]

What I know is when you receive Bitcoin you convert it to USDT or you leave it in Bitcoin and then trade it using P2P exchange, so if a supermarket is interested in accepting Bitcoin they should employ someone who will be in charge in doing the P2P trading, for now I don't think there's an auto-convert to naira app or device, however it can still be developed.

You don't need someone to do the conversion, there are payment processor that converts directly to NGN. Even if none is available, the processor can convert from Bitcoin to USD which is stable and less susceptible to fluctuation.

Ur wallets no be AI to detect wetin dey ur mind since exchange no even at all get that kind auto convert bitcoin to usdt feature.
Make u no also 1 day try am say u want u want use bitcoin network to send fund with any other usdt network believing say e go auto convert if not, u go dey risk to loose ur money.

Hmm... Haven't you heard about payment processor. Clearly, you didn't care to read the OP carefully.

[Jubilee58]

I don't think converting bitcoin to naira is an issue, there are platforms or applications that can do that. Even if you can not convert directly from bitcoin to naira , there are proceces through which your bitcoin can be converted to naira. For instance, you can decide to convert your bitcoin to usdt and convert to fiat currency. Furthermore there are some traders or biz men that still accept bitcoin.This is because they see it as a store of value, the more you keep it the more it adds value with time.

[WhoYouCantKill]

You are correct, businesses should not risk volatility because it needs steady cash inflow to enable them restock.Unless there's solutions to naira's auto-convert,  then replying on P2P or stablecoins such as USDT is considered the one practical means. Immediate conversion tool can hel Bitcoin become more attracting for daily shop payments.

[Odogwu-Blockchain]

In the past, Luno was accepting Bitcoin deposits and withdrawals to and fro bank debit cards, it was easy and save time but the major problems it creates was high processing fee. Deposit fee costs a lot of money and withdrawals charge then was pretty little.

Government policy stops everything making every trader p2p,

Accepting automatic deposit and withdrawal will cost a lot and would happen when government had accepted bank relationships with Bitcoin.

[casey15]

I think this volatility issue is one of the reason bitcoin may be still be secondary to fiat for a long period of time.. due to its volatility...
If a goods is priced at a certain amount of bitcoin, and then bitcoin price drops or trades higher, how then will you start changing the price of the goods every now and then. I know fiat changes too but the price difference in fiat cannot be compared to the massive leap that bitcoin does... Fiat has a centralised body to regulate the use of the currencies as so it's value changes almost every second but the prices of goods are made to remain stable for a long time before changing. But as bitcoin has not centralised authority, I don't think such can really be achieved... And yes even the divisible like Satoshi, mBit e.t.c. are not immune as they also follow the price of bitcoin.

[Pablo-wood]

I don't see a reason for business owners to avoid volatility by converting their bitcoin to naira or stablecoin, because we can still earn more from what we are holding if the market rises the more and be in profit, while if the market dumps we may lose, but that is not always permanent because it often rises back and we can from this volatility be selling and buying and go into partial trade converting from Bitcoin to stablecoin and buying again, but it's not a perfect idea that we should convert to naira because of currency devaluation and inflation affecting the fiat economy.

Don’t forget that this is business money, not investment money. A business needs liquidity to keep running smoothly, especially for restocking sold products. It would be unprofessional and risky to wait for a Bitcoin price pump before buying new stock. Unlike an investor, a business owner can’t gamble on volatility because operations depend on immediate cash flow and timely reinvestment.

[justinlamode]

solutions that allow shop owners to accept Bitcoin and auto-convert to naira instantly to avoid volatility.
What I know is when you receive Bitcoin you convert it to USDT or you leave it in Bitcoin and then trade it using P2P exchange, so if a supermarket is interested in acc
epting Bitcoin they should employ someone who will be in charge in doing the P2P trading, for now I don't think there's an auto-convert to naira app or device, however it can still be developed.
Having auto-convert to naira will be helpful because shops can now be accepting payment through Bitcoin without fear of volatility.

I understand the point you are making but converting the Naira instantly is not a problem as there are many applications that can convert to USDT which is relatively stable and solves the problem of volatility of Bitcoin. I know of Bitpay, coingate, NowPayments and even PayPal now have such payment processor. There even some customised payment processor out there, it all depends on the willingness of the business owner to accept Bitcoin payment. There are even some that are open source such as BTCPay which is more recommended on the basis of security.

After converting to USDT, whenever you want to restock, you can easily convert to Naira through any of the exchanges or use other payment systems that are localised in Nigeria.

[Slimzeee]

I keep preaching about how useful this initiative can be. Day by day, we have more people leaning towards the direction of Bitcoin and cryptocurrency adoption, more willingness to make transaction for local commodities with it as well.

I think the challenge might be with the fact that BTC is not stable. Some shop owners might think, what if i sell my stuff for 0.002 btc which might be 1million at that point and 30mins later the price drops to 800k. There might be that fear and if that is curbed, Then the market will be huge.

[Joy- maker]

What I know is when you receive Bitcoin you convert it to USDT or you leave it in Bitcoin and then trade it using P2P exchange, so if a supermarket is interested in accepting Bitcoin they should employ someone who will be in charge in doing the P2P trading, for now I don't think there's an auto-convert to naira app or device, however it can still be developed.
Having auto-convert to naira will be helpful because shops can now be accepting payment through Bitcoin without fear of volatility.

Some people may say it those not matter and that why should a shop owner be scared of Bitcoin volatility when even if Bitcoin falls in price it will surely rise again, if you are having this thought you need to understand that this is a business and they sell and restock there goods and they do this with the money they have already sold so you see they need to always have there money complete.

I'm happy to be here, I never knew we have Nigeria discussion place here.
Other forum I join don't have a place like this.

There are app that auto converts your cryptocurrency into Naira but you need to search that yourself because I have not used those apps.

Please don't take this my comment as an attack try to see reasons in what am saying, because When I first came across this your comment I was excited at first from the beginning where you said that there are some apps that can auto convert our cryptocurrency to Naira, but at the end I was disappointed whereby you said such apps exist without mentioning any, because I have been looking for such apps which I have not found any yet, so for me  it will make more sense whereby you said  that you think that such apps exist but you don't have idea of any, instead of saying what you above.

[CryptSafe]

So far, there are businesses that accept bitcoin as a means of payment or services rendered, but majority of them are big scale vendors that deals in huge amount of money and are having a large customer base that constantly pay for services with bitcoin and I believe that there are  organisations that does what OP just mentioned but here  maybe they can  create a special department for it but it will work directly with the accounting department where a staff would be constantly selling the bitcoin on behlf od the organisation through any of the p2p platform fully registered with the organisation name and it will be paid directly into the organisation local account since it gooten from the purchase of their product ot services rendered. This method could work for bigger organisations into production because they would definitely need the money to pay for materials to produce more of their products to making sure they meet up eith the market demand.

[TokenTikas]

solutions that allow shop owners to accept Bitcoin and auto-convert to naira instantly to avoid volatility.

Shop owners need to be updated about this if they want to do it. If they are interested in accepting Bitcoin, this type of transaction can reduce volatility.

What I know is when you receive Bitcoin you convert it to USDT or you leave it in Bitcoin and then trade it using P2P exchange, so if a supermarket is interested in accepting Bitcoin they should employ someone who will be in charge in doing the P2P trading, for now I don't think there's an auto-convert to naira app or device, however it can still be developed. Having auto-convert to naira will be helpful because shops can now be accepting payment through Bitcoin without fear of volatility.

Yes, I also know that even if they take payment in bitcoin, they immediately convert it to USDT using the exchange on P2P. We have many big shops here that can accept these, but they are unaware of them, so they generally take payments in 'Naira only'. If they bring such an update, our youth here will feel comfortable using it. If a shop employee is appointed to exchange these, everyone will use them.

Some people may say it those not matter and that why should a shop owner be scared of bitcoin volatility when even if bitcoin falls in price it will surely rise again, if you are having this thought you need to understand that this is a business and they sell and restock there goods and they do this with the money they have already sold so you see they need to always have there money complete.

Not a few people, but many people, may think this is normal. Shop owners will fear bitcoin's volatility, which is also normal. However, if they know these and understand bitcoin, there will be no problem. If shops adopt this update method to keep pace with modernity, they can go a long way.

[Ruttoshi]

It deoends on the kind of business. Payment processor is the best to be used in this situation. I don't know that Nigeria ha s some payment processor who can immediately convert bitcoin to Naira but there is a fee attached to it. You can use google to search for such services. Divest App is one of a payment processor that operates in Nigeria.

However, if you are accepting bitcoin, it good that you only convert your capital to Naira and leave your profit in bitcoin so that, you can benefit from the acceptance of bitcoin in your business when the price of bitcoin increases.

[DiMarxist]

solutions that allow shop owners to accept Bitcoin and auto-convert to naira instantly to avoid volatility.

I created a thread on conversion in exchanges but people dey divert the main discussion to another thing https://bitcointalk.org/index.php?topic=5555096.0, I just keep quiet because I no wan argument of such. In that thread I was trying to say, it is better for Centralized Exchanges to make coin conversion free then they can charge from other activities but many people were talking out of points of convert trade which I didn't dream of creating the thread.

Make I come back tou ur content. Guy you dey Nigeria and u know weti dey happens. No be say shop owners mostly those people wey understand bitcoin no wan accept as their payment method but the government e no go allow them. I don see many people wey been put am for their shop front before but now dem don remove am. There are exchanges now that you fit convert your coins to naira instantly and one of them na Remitano. U go fit sell am directly to your naira account and withdraw di money.

[Makus]

solutions that allow shop owners to accept Bitcoin and auto-convert to naira instantly to avoid volatility.

What I know is when you receive Bitcoin you convert it to USDT or you leave it in Bitcoin and then trade it using P2P exchange, so if a supermarket is interested in accepting Bitcoin they should employ someone who will be in charge in doing the P2P trading, for now I don't think there's an auto-convert to naira app or device, however it can still be developed.
Having auto-convert to naira will be helpful because shops can now be accepting payment through Bitcoin without fear of volatility.

Some people may say it those not matter and that why should a shop owner be scared of Bitcoin volatility when even if Bitcoin falls in price it will surely rise again, if you are having this thought you need to understand that this is a business and they sell and restock there goods and they do this with the money they have already sold so you see they need to always have there money complete.

I'm happy to be here, I never knew we have Nigeria discussion place here.
Other forum I join don't have a place like this.

Op this is a brilliant idea, if this is set up it would definitely be a very good invention because,  we so many people using crypto in this country if there is an application  that can auto convert to naira  and also has the ability  to function  like every other microfinance bank it would save us the stress of going through exchanges to convert using P2P beside p2p these day is becoming filled with scammers it's only our application of wisdom is saving us from being a victim of the scam those p2p are putting up. With this idea just imagine say opay dey accept bitcoin then instantly convert  am to naira wey you fit send to anybody.

[Bright0515]

solutions that allow shop owners to accept Bitcoin and auto-convert to naira instantly to avoid volatility.

What I know is when you receive Bitcoin you convert it to USDT or you leave it in Bitcoin and then trade it using P2P exchange, so if a supermarket is interested in accepting Bitcoin they should employ someone who will be in charge in doing the P2P trading, for now I don't think there's an auto-convert to naira app or device, however it can still be developed.
Having auto-convert to naira will be helpful because shops can now be accepting payment through Bitcoin without fear of volatility.

Some people may say it those not matter and that why should a shop owner be scared of Bitcoin volatility when even if Bitcoin falls in price it will surely rise again, if you are having this thought you need to understand that this is a business and they sell and restock there goods and they do this with the money they have already sold so you see they need to always have there money complete.

I'm happy to be here, I never knew we have Nigeria discussion place here.
Other forum I join don't have a place like this.

This thing way you talk so na better idea oh, but the truth be say I never really see stores way dey accept crypto transactions after customer buy something finish then won pay for things way them buy. If no be online stores I never see for physical.
Watin you talk make sense but you dey sure say if business people start to accept crypto payments after business deals government go start to dry collect taxes from them? Normally government done dey talk about this tax thing for long and now them really done set date way them go carry out this their plans say by next year them go start fo dey collect tax from all business people so far as say you dey make above 800k per year. So even those wey dey deal on crypto currency to go also begin dey pay their taxes.
read this content about new laws of paying tax