jbm9790 (OP)
Newbie
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Activity: 1
Merit: 0
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January 25, 2015, 01:53:04 AM |
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Hello,
I have been operating my own business for a little over a year and am very interested in making a move into bitcoin. First and foremost, I know very little about bitcoin. I like the idea of a currency that is not controlled by the government but want to make informed decisions.
I've done some reading on how to accept bitcoin and such but still have some questions.
I have some concerns about how I would transfer bitcoins into spendable money that I can use to buy supplies for my business from places that do not accept bitcoin. How do I transfer them into US dollars? Also does that value of my bitcoins fluctuate and if so how much and how often? Also how safe is bitcoin for a business? If I moved all of my transactions into bitcoin, wouldn't this raise some red flags? I'm in a business that it highly regulated by the government so I don't want to attract more attention than I need.
I'd appreciate any and all information on this matter. Thanks in advance!!
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Superhitech
Legendary
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Activity: 1064
Merit: 1000
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January 25, 2015, 02:59:24 AM |
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Hello,
I have been operating my own business for a little over a year and am very interested in making a move into bitcoin. First and foremost, I know very little about bitcoin. I like the idea of a currency that is not controlled by the government but want to make informed decisions.
I've done some reading on how to accept bitcoin and such but still have some questions.
I have some concerns about how I would transfer bitcoins into spendable money that I can use to buy supplies for my business from places that do not accept bitcoin. How do I transfer them into US dollars? Also does that value of my bitcoins fluctuate and if so how much and how often? Also how safe is bitcoin for a business? If I moved all of my transactions into bitcoin, wouldn't this raise some red flags? I'm in a business that it highly regulated by the government so I don't want to attract more attention than I need.
I'd appreciate any and all information on this matter. Thanks in advance!!
Well, transferring bitcoins to fiat/PayPal is very easy, there are many exchanges out there, such as the one the guy above me mentioned, coinbase. You should be in the clear for accepting bitcoin as long as you live in a country where bitcoin is legal. (If you live in USA like you imply, you should be fine. USA is bitcoin friendly.) Keep in mind that if you transfer bitcoin to fiat, there might be taxes charged. The value of bitcoin does fluctuate, but you shouldn't worry, even if the price drops. Bitcoin has a tendency to go back up. |
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Phenophthalyn
Member
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Activity: 83
Merit: 10
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January 25, 2015, 04:15:56 AM |
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Try Bit-Pay, they have great services for things you've described  |
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DoubleTrouble
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January 25, 2015, 04:18:31 AM |
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As others have said you can easily transfer bitcoin to dollars and back through an exchange.
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michinzx
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January 25, 2015, 05:57:43 AM |
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I know Bitwage exists as a means to pay employees in bitcoin, should look into it.
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nwfella
Legendary
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Activity: 1610
Merit: 1000
Well hello there!
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January 25, 2015, 05:57:48 AM |
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If your wanting to convert BTC to USD's without a doubt Coinbase is probably your best option currently. It's a breeze to setup and works really well.
Have been using them for about a year and haven't had any issue's whatsoever that weren't resolved in a highly professional and timely manner.
Additionally, as a Merchant, you can essentially shield yourself from Bitcoin price volatility by simply cashing out immediately. (although I would encourage you to keep some small % in btc, might end up working out really well for you in the long-run;)
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¯¯̿̿¯̿̿'̿̿̿̿̿̿̿'̿̿'̿̿̿̿̿'̿̿̿)͇̿̿)̿̿̿̿ '̿̿̿̿̿̿\̵͇̿̿\=(•̪̀●́)=o/̵͇̿̿/'̿̿ ̿ ̿̿
Gimme the crypto!!
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Q7
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January 25, 2015, 06:30:11 AM |
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There is a whole list of exchangers which you can use like for instance the link in my signature. Also came across a list of payment gateway + exchangers list, which I thought you might also want to check it out. http://itsyocrypto.com/listing-category/bitcoin-exchanges/On the volatility issue part, you can always have them converted immediately to fiat just to protect your business but you don't necessarily have to convert all your earnings. |
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Yuki1988
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January 25, 2015, 06:36:49 AM |
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I have some concerns about how I would transfer bitcoins into spendable money that I can use to buy supplies for my business from places that do not accept bitcoin. How do I transfer them into US dollars? Also does that value of my bitcoins fluctuate and if so how much and how often? Also how safe is bitcoin for a business? If I moved all of my transactions into bitcoin, wouldn't this raise some red flags? I'm in a business that it highly regulated by the government so I don't want to attract more attention than I need.
I'd appreciate any and all information on this matter. Thanks in advance!!
Bitpay ( https://bitpay.com/) or Coinbase ( https://www.coinbase.com/merchants) are the best choice for you IMO. You can set a selling price for your product in USD, and the site will check bitcoin price and see how much the buyers need to pay in bitcoin, so you don't need to be worried about the price fluctuation. Also, you don't need to convert the bitcoin to USD yourself, but the site will do everything for you. |
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picolo
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January 25, 2015, 09:38:36 AM |
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Hello,
I have been operating my own business for a little over a year and am very interested in making a move into bitcoin. First and foremost, I know very little about bitcoin. I like the idea of a currency that is not controlled by the government but want to make informed decisions.
I've done some reading on how to accept bitcoin and such but still have some questions.
I have some concerns about how I would transfer bitcoins into spendable money that I can use to buy supplies for my business from places that do not accept bitcoin. How do I transfer them into US dollars? Also does that value of my bitcoins fluctuate and if so how much and how often? Also how safe is bitcoin for a business? If I moved all of my transactions into bitcoin, wouldn't this raise some red flags? I'm in a business that it highly regulated by the government so I don't want to attract more attention than I need.
I'd appreciate any and all information on this matter. Thanks in advance!!
Use bitpay. |
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ikydesu
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January 25, 2015, 07:22:54 PM |
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Hello,
I have been operating my own business for a little over a year and am very interested in making a move into bitcoin. First and foremost, I know very little about bitcoin. I like the idea of a currency that is not controlled by the government but want to make informed decisions.
I've done some reading on how to accept bitcoin and such but still have some questions.
I have some concerns about how I would transfer bitcoins into spendable money that I can use to buy supplies for my business from places that do not accept bitcoin. How do I transfer them into US dollars? Also does that value of my bitcoins fluctuate and if so how much and how often? Also how safe is bitcoin for a business? If I moved all of my transactions into bitcoin, wouldn't this raise some red flags? I'm in a business that it highly regulated by the government so I don't want to attract more attention than I need.
I'd appreciate any and all information on this matter. Thanks in advance!!
You can use some exchanger like coinbase, bit stamp. Are you want to make a payment with bitcoin? Use bitwage, bitpay. Where you come from? |
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CrackedLogic
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Activity: 1050
Merit: 1000
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January 25, 2015, 07:51:54 PM |
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As mentioned here; bitpay and coinbase. However I feel more comfortable with bitpay as a customer and as a user. I'm not sure why, but I just do. Maybe because it's more widely used and I've seen it often.
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 BUY GAMESWITHBTCITCOINFORDISCOUNTEDPRICES |
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SirChiko
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Activity: 966
Merit: 1000
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January 25, 2015, 08:27:21 PM |
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You may look into payment soulutions bussniess or if you want to invest then look into some exchanges directly or localbitcoins. You can check current bitcoin rate on preev.com so you won't pay too high on localbitcoins, as sellers set the price themselves.
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The only online casino on which i won something. I made 17mBTC from 1mBTC in like 15 minutes. This is not paid AD!
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jaberwock
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Activity: 2744
Merit: 1127
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January 26, 2015, 01:57:56 AM |
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check coinbase in 12 hours.
You probably will find news about how buy and sell bitcoins
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Bitcoin_Mafia_Me
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January 26, 2015, 10:33:27 PM |
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I do web design, development, SEO, etc... and began accepting Bitcoin several months ago. There is the easiest way to accept Bitcoin payments and convert them into spendable USD is to set up an account over at Coinbase ( http://coinbase.com). You'll need to provide your bank account info (like you do with PayPal). This enables you to send / receive funds too and from your Coinbase account. Once someone pays you in Bitcoin, you log into Coinbase, click on Buy / Sell Bitcoins, enter the amount of Bitcoins you want to sell and select the bank account to which you want the proceeds sent. The first couple of transactions can take several days to hit your bank account, but right now I'm averaging around 36 hours between the time I sell my Bitcoin and the time it hits my bank account. Hope this helps! Cheers, Cynthia |
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