How to accept bitcoin as payment for my business

[BTC_Bae]

I want to reply to this and a few other comments in my other thread which I created a few days ago but it says locked so I am creating a new one and want to reply to this and I believe this reply gave me a purpose to have interest in bitcoin, so here is my question to this reply...

Are you interested in BTC as a potential financial investment? Do you want to trade BTC? Or do you have a business and would like to expand payment options to BTC? 

I am interested in bitcoin as an investment but I doubt I can buy a considerable amount for now. I am currently investing in gold every month and the amount ranges like $600. I have a goal to reach with gold and once I reach that then I might invest that $600 in bitcoin, not sure I might change my mind before that, but this is what I am thinking now.

I have no intention of trading Bitcoin either.

But I have a small online business and also sell my products over e-commerce sites so all the payments from the customers will be handled by them and if Possible I can accept bitcoin as a payment too in the future. But I have no idea how to do that, so that is probably my interest is falling now, and curious to read what you guys are going to teach me...

[lornadane]

There are many payment gateways online which can integrate with your API to seamless accept Cryptocurrency for your business.

[Porfirii]

There are many payment gateways online which can integrate with your API to seamless accept Cryptocurrency for your business.

If he sells through his own website then this would be the best solution, but if he can't integrate anything because he relies on third parties' e-commerce platforms, depending on the nature of his sales, it could make sense to hire the services of a reputable escrow. This doesn't make sense if he sells a lot of low value things or services, but it could be viable if he sells a few things of great value. At least as a temporary measure if he really has an interest in accepting payments in Bitcoin, and until he comes up with another better solution.

[Aanuoluwatofunmi]

I’d suggest separating “investment BTC” from “business BTC” mentally. For accepting payments, keep it simple and avoid custodial services at first. Learn how transactions work and how long confirmations take

In addition to what has been suggested here, if possible, try to create a lightning network for your transactions, this makes business owners have a more coordinated experience in using bitcoin as a payment currency, but as it has been suggested, don't make use of exchange wallets on this regard, a non custodial wallet is strongly advised and you should take a step to learn more on how you could incorporate all these into effect.

[Daniel91]

Check out the 'PayCek' system for accepting crypto payments in Croatia and you might get some inspiration. I won't share the link, but you'll easily find them on Google. Their system, where users pay with crypto and the service provider receives fiat currency, has already been adopted by many small and large merchants in Croatia, and the system is very simple and functional. I don't know which country OP is from, but if a small country like Croatia has such an offering, I believe something similar can be found in other countries as well, considering the widespread acceptance of crypto in the world.

[noorman0]

-snip-
and also sell my products over e-commerce sites so all the payments from the customers will be handled by them and if Possible I can accept bitcoin as a payment too in the future.

If it's an e-commerce site you don't fully control and doesn't have a BTC payment option, your customers will have to go through at least 2 payment gateways if you insist. If the BTC conversion the customer pays doesn't reach the item's fiat price, there's a potential for transaction failure on the marketplace's end.

I recommend implementing this only for offline sales while exploring strategies for e-commerce.

[Pablo-wood]

I think Bitpay offers a JSON api which you can integrate into your e-commerce store as an optional payment gateway. One can even receive payout in local fiat if there be need for conversion after receiving the payment in any crypto currency not just bitcoin. I think they offer invoice after payment which makes the entire process swift and manageable.

[Asuspawer09]

You just need to find API that is going to allow your website to do the Bitcoin payments online, else just find someone that you trust, your guy developer, that is going to fix that for you.

I surely going to recommend investing in Bitcoin today since you are already investing in gold every month, DCA as well on Bitcoin its never going to hurt you doing some kind of diversification with your investment it is going to slow down your gold goal but it is still going to happened as long as you dont stop investing, So probably put 300$ on Bitcoin and 300$ on gold every time you invest, I wouldnt going to recomend investing a huge amount at once, DCA is still the best strategy especially in a very volatile market like Bitcoin.

I have some topics about accepting Bitcoin in your business, and because you dont have a lot of experience in Bitcoin, I wouldn't recommend accepting Bitcoin right now, since you need to experience investing first in my opinion, also accepting Bitcoin as a payment just means you are investing on Bitcoin, on a business you are going to need cash flow and liquidity, if the some of the payment is going to Bitcoin investment it is not liquidity you cannot sell it at any moment, I mean you can but it can be a loss, so it might affect your business, you might need to manage that cash flow and make sure you are managing your liquidity and your Bitcoin investment at the same time.

[BTC_Bae]

Thank you for all the replies, I read all your replies and trying to understand what you guys said and also I read few of the links given by the users along with the suggestion to read the pinned threads. I consider myself a slow learner so it will take some time to process and picture what it really you guys are saying.

Anyway thank you fellas. 

[Daniel91]

I want to reply to this and a few other comments in my other thread which I created a few days ago but it says locked so I am creating a new one and want to reply to this and I believe this reply gave me a purpose to have interest in bitcoin, so here is my question to this reply...

Are you interested in BTC as a potential financial investment? Do you want to trade BTC? Or do you have a business and would like to expand payment options to BTC? 

I am interested in bitcoin as an investment but I doubt I can buy a considerable amount for now. I am currently investing in gold every month and the amount ranges like $600. I have a goal to reach with gold and once I reach that then I might invest that $600 in bitcoin, not sure I might change my mind before that, but this is what I am thinking now.

I have no intention of trading Bitcoin either.

But I have a small online business and also sell my products over e-commerce sites so all the payments from the customers will be handled by them and if Possible I can accept bitcoin as a payment too in the future. But I have no idea how to do that, so that is probably my interest is falling now, and curious to read what you guys are going to teach me...

Only you can make your personal decision about investing, based on your financial capabilities as well as the level of risk you are willing to accept. There are different investment strategies, ranging from safer and more conservative to riskier ones, which can bring faster and higher returns on investment but also come with a higher chance of losing your investment. Traditionally, investing in gold is considered a safe and conservative investment, with a low level of risk but also smaller returns. Investing in crypto and bitcoin is considered high-risk investing, with potentially higher returns but also a greater risk of losing your investment. You must decide on how you will invest, assess all investment risks, create an investment strategy, and have a clear exit strategy.

[bulleteyedk]

Have a look at BTCPay Server, it's an open sourced payment processor.

I have no experience with it, but known about it for years, and seen others have positive comments on it's usage.

[Z_MBFM]

There are many payment gateways online which can integrate with your API to seamless accept Cryptocurrency for your business.

If he sells through his own website then this would be the best solution, but if he can't integrate anything because he relies on third parties' e-commerce platforms, depending on the nature of his sales, it could make sense to hire the services of a reputable escrow. This doesn't make sense if he sells a lot of low value things or services, but it could be viable if he sells a few things of great value. At least as a temporary measure if he really has an interest in accepting payments in Bitcoin, and until he comes up with another better solution.

Holding Bitcoin and generating a good amount of profit from it is the dream of many and many do it. However, not many people are interested in making purchases with Bitcoin because people do not use Bitcoin as a payment medium much, they use it only as an investment asset and try to save it as much as possible. Therefore, accepting Bitcoin payments in the case of business will not encourage many customers. Because those who actually understand Bitcoin do Bitcoin savings. And Bitcoin payments will cost more than cash payments because a fee is deducted in the case of Bitcoin transactions, which will discourage most customers.

[I_Anime]

I want to reply to this and a few other comments in my other thread which I created a few days ago but it says locked so I am creating a new one and want to reply to this and I believe this reply gave me a purpose to have interest in bitcoin, so here is my question to this reply...

Are you interested in BTC as a potential financial investment? Do you want to trade BTC? Or do you have a business and would like to expand payment options to BTC?  

I am interested in bitcoin as an investment but I doubt I can buy a considerable amount for now. I am currently investing in gold every month and the amount ranges like $600. I have a goal to reach with gold and once I reach that then I might invest that $600 in bitcoin, not sure I might change my mind before that, but this is what I am thinking now.

I have no intention of trading Bitcoin either.

But I have a small online business and also sell my products over e-commerce sites so all the payments from the customers will be handled by them and if Possible I can accept bitcoin as a payment too in the future. But I have no idea how to do that, so that is probably my interest is falling now, and curious to read what you guys are going to teach me...

Investing in bitcoin does not necessarily mean you have to start with large  amount . You Can start with any amount you afford for the main time . Investing in Gold not bad at all , but time like this that the world is getting digital each day , is good to also have some BTC in your non custodial wallet . So that you won’t miss out in any opportunity, know this there’s no fixed best time to buy BTC , because all time are literally best so you can even start now , using bitcoin in your business  not bad though , but still boils down to the kind of business you are into .

[Youngrebel]

Accepting Bitcoin as a means of payment for your business is a great idea however, you might need to figure out you will need to be doing it properly before embarking.  In a situation where you accept the payment before the price of Bitcoin drops down. And possibly uou even need to restock within that of price drop what would you do? Will you sell your Bitcoin at a lower rate to restock or you will wait till the price gets better?

[dkbit98]

But I have a small online business and also sell my products over e-commerce sites so all the payments from the customers will be handled by them and if Possible I can accept bitcoin as a payment too in the future. But I have no idea how to do that, so that is probably my interest is falling now, and curious to read what you guys are going to teach me...

Safest way to accept Bitcoin is to use BTCPay Server, if you don't want to use any third parties and keep 100% payments because there are no fees.
This is self-hosted and you first need to read instructions how to set up everything correctly:
https://btcpayserver.org/

There are other alternatives you can explore but they are either charging some fee, or they are more risky custodial services.

[nakamura12]

I don't know any payment gateway but try searching in google and come back here to ask if it's legit or good payment gateway or you can just ask here if anyone have use some payment gateway since I don't have any idea about it and doesn't have a business to begin with. All I can give to you is advice and my advice is that you shouldn't rush in making your decisions and think about what you want to make your decisions better.

[SFR10]

and if Possible I can accept bitcoin as a payment too in the future. But I have no idea how to do that, so that is probably my interest is falling now, and curious to read what you guys are going to teach me...

I consider myself a slow learner so it will take some time to process and picture what it really you guys are saying.

For beginners, I'd suggest using a non-custodial hosted processor ^{[e.g., Blockonomics (lots of tutorials on their YouTube channel)]} due to its simplicity ^{[make sure not to start without knowing the basics in properly managing & protecting your own wallet]} and a self-hosted processor ^{[e.g., BTCPay - previously mentioned by two other users]} when you're more confident & would like to have full control of everything.

[internetional]

My wife is an artist, and she sells her paintings remotely. Once she asked me how she could start accepting bitcoins. We looked into it and realized that it makes absolutely no sense. The thing is, nobody wants to pay with bitcoins. Even those clients who have crypto wallets and are willing to use them for payments prefer to spend stablecoins.

To convince clients to pay with bitcoins, you need to offer them a good discount for that. Are you ready to do this? If yes, there is a very simple solution - Blitz Wallet. It will look something like this: https://pay.blitzwalletapp.com/shirin

[joniboini]

We looked into it and realized that it makes absolutely no sense. The thing is, nobody wants to pay with bitcoins. Even those clients who have crypto wallets and are willing to use them for payments prefer to spend stablecoins.

That's interesting. I guess it depends on the demographic target? Based on my experience, the number of people who pay with BTC for the services that I used isn't small. Most of them are related to privacy stuff, though, like VPN or something like that. I think the cost to set up a self-hosted payment processor is small enough even if the number of customers isn't big. I do agree that OP should definitely test whether their customer is willing to pay with Bitcoin or not.

[@prashant]

If you want to take btc payments on your store, you can use the coinbase commerce platform. It provides plugin options, for example if you are using shopify, you can add it. It works similar to paypal.