Advantage of accepting bitcoin in business - page 5.

wmaurik

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Quote from: Marcorey on December 28, 2022, 03:26:06 AM

Doing so can help more people understand Bitcoin and let them all understand the benefits of holding Bitcoin. Accepting Bitcoin payments provides customers with more payment methods and also attracts crypto enthusiasts and holders, which helps in the growth of the business and financial success.

It won't help more people understand Bitcoin, but it can help Bitcoin get promoted to everyone. Because those who have just heard and know Bitcoin from other people's writings or words, they may not necessarily be able to understand how Bitcoin works and how to use Bitcoin when they want to make a transaction.

Of course there are benefits, but that's only for Bitcoin because when there are many people who see that place willing to accept payments via Bitcoin, those who just heard about it will definitely find out about the procedure for using it and the procedure for storing it. Whereas those who are experienced in using Bitcoin and also often save it, obviously this is a very good thing because they have additional options for payment when they are there or when shopping at that place

RockBell

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Quote from: JoyMarsha on December 27, 2022, 04:48:09 AM

The fact that Nigerians are accepting bitcoin payments in their businesses is positive. But I want to know whether Nigeria doesn't have a long-term bitcoin investing strategy. Because the majority of the forum posts that I have read so far describe how customers paid using bitcoin.

When a Nigerian citizen is fully aware of the potential benefits of hodling, it will be unusual to see him make a payment in bitcoin. In spite of everything, he would rather pay in fiat, not with bitcoin

I feel those accepting bitcoin do it to share knowledge and spread the word most people will be curious once they see that some business owners are accepting it, good one and op please tell your customers to learn to hold rather than selling it. Is a filthy filthy thing, some know the potential of holding it, and some just hear and want people to know they also have bitcoin and people like this end up selling it without knowing the relevance or is benefits.

Kelvinid

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Quote from: rodskee on December 28, 2022, 04:12:32 AM

The advantage is always for us Bitcoin supporters and users , because this will help our business increases its users and also increases our chances to accumulate more and more bitcoin.

Perhaps, it gives us customers an option, especially for crypto holders. It come to have that idea not because we wanted to accumulate more Bitcoin as it was not like a banking system that it was just for saving, yet it was a daily income and you will convert it later. But the good thing about this is we help spread crypto realization to be openly considered as currency, not only for investment.

Quote

try to accept other currencies mate other than Bitcoin because this will make you more richer soon lol.

It will never make you rich unless your business is perfectly hit by the taste of the people around you. If you are just earning a profit of $1 a day, becoming rich is really impossible.

rodskee

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The advantage is always for us Bitcoin supporters and users , because this will help our business increases its users and also increases our chances to accumulate more and more bitcoin.

try to accept other currencies mate other than Bitcoin because this will make you more richer soon lol.

yudi09

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Quote from: indah rezqi on December 27, 2022, 12:20:27 PM

Quote from: yudi09 on December 27, 2022, 03:42:49 AM

My general point of view is that a business that accepts Bitcoin as a means of payment needs to be implemented. Even I personally really want this step to be implemented but can't yet because the government only allows Bitcoin as a commodity asset.

snip

Hey, I also accept bitcoin (for example), but I don't need to stick that paper on the wall as an advertisement to make people wonder what bitcoin are. Adoption is expected to continue to increase despite governments in most countries still banning it, but in private this is always possible. Come on, the government is only able to control bitcoin users, that means they can't control bitcoin.

Something that can make me say yes. I like the mention of the government by the name of the third party.

Those of us who want to use Bitcoin in business certainly don't need to attach a paper that says "accept Bitcoin as payment" even though the third party has not officially issued regulations or rules regarding the acceptance of Bitcoin as a legal means of payment.

Similar to your sentence that third parties can only control users, but they cannot control Bitcoin.
From here the question arises because as a good citizen does that not include contradicting them?

Marcorey

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Doing so can help more people understand Bitcoin and let them all understand the benefits of holding Bitcoin. Accepting Bitcoin payments provides customers with more payment methods and also attracts crypto enthusiasts and holders, which helps in the growth of the business and financial success.

klidex

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Quote from: Merit.s on December 26, 2022, 10:18:09 PM

I was encouraged by this information
https://bitcointalksearch.org/topic/m.61479047

This guest house was inherited by my husband from his family,I run and manage it,it is located in a small village.After reading the information that cryptocurrency banned will soon be uplifted and legalize in Nigeria,I decided to help in fast adoption of bitcoin in my country by accepting btc payment from customers who came to lodge or entertain themselves in the guest house. I also want to use the guest house as a medium to give bitcoin awareness to customers that comes to the guest house,due to the fact that it is a place where different people from different places comes to entertain themselves in the evening.
I am very happy for this new strategy and upgrade on how to serve my customers best next year on whatever form of payment,they will be using to pay for their accommodation. Yesterday evening, while I was checking one of the rooms,my bar attendant came to me that a customer wants to see me,meeting with him,he asked if he can make payment in btc for my service and I said yes. He opened up to me that he was on an assignment in research of some plants and he has already gotten a guest house where he is lodging but he has some challenges with them since they only prefer fiat currency which has been a challenge for him to meet up to his demands due to less fiat currency on him. He told me he will be spending up to a month in the village before going back to his state,he then asked how much is per night,which I told him and immediately he made a payment for twenty days with btc into my wallet,that he will move in the next day.
I decided to come and share this experience with people in this forum about the luck bitcoin acceptance has brought to my business this festival period. The truth is that,I have never had any customer that have lodged for straight two weeks due to the environment where the hotel is located. What are your contributions on this new change and suggestion in accepting bitcoin,does it means that businesses are suffering from fiat entrapment ?

In my opinion if you accept payments using Bitcoin it is a good thing and very profitable at this time.
What's more, Bitcoin is currently experiencing a very deep decline and it will be difficult to go down even deeper.
You can use it as an investment where you take part of the total profit and the rest can be stored in bitcoin for long-term investment.
So don't worry about losses, rest assured that Bitcoin is able to bounce back more than in previous years.
I also salute you where you want to adopt Bitcoin by accepting payments from your own place of business. Meanwhile, for now your country has not really legalized crypto, only there is a plan to legalize crypto.

Hypnosis00

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Cryptocurrencies have always been talked about in social media and I think they are already gaining more knowledge and doing research. For now, we can say that the adoption was slow but seeing a growing number of establishments who open their door to accept Bitcoin as another option for payment, is something overwhelming and can also affect others business organizations.

I couldn't find if there is a huge advantage to accepting Bitcoin but this will somehow give some comfort to our customers who are also crypto user/s.
Well, it is a least we are moving forwards to digitalization despite the risks.

bitterguy28

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Quote from: NicNacCoin on December 27, 2022, 06:50:13 PM

Quote from: Merit.s on December 26, 2022, 10:18:09 PM

I respect your actions and business. You are very wise person. You will go far in future. Such thoughts do not arise in every human being as they have arisen in you. Spread your thoughts to people and make your home a little more attractive. You will see that you have become very successful very quickly.

actually hen just act naturally as He is a crypto enthusiast and having a business that will offer accepting bitcoin is just an extension because he'll be having this business no matter if he has Bitcoin or not.
But like what you said this is a wise move for business owner like Him.

Quote from: GreatArkansas on December 27, 2022, 06:41:46 PM

Quote from: Merit.s on December 26, 2022, 10:18:09 PM

(....)
What are your contributions on this new change and suggestion in accepting bitcoin,does it means that businesses are suffering from fiat entrapment ?

Another way of contributing to the Bitcoin community is for example you are a customer or consumer from a business.
By just a simple question, asking the business, "Are you accepting Bitcoin?" is already a good way, a simple but a big help. Because it will help other people to become curious about what is Bitcoin.

well said here , very well said mate.

NicNacCoin

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Quote from: Merit.s on December 26, 2022, 10:18:09 PM

I was encouraged by this information
https://bitcointalksearch.org/topic/m.61479047

This guest house was inherited by my husband from his family,I run and manage it,it is located in a small village.After reading the information that cryptocurrency banned will soon be uplifted and legalize in Nigeria,I decided to help in fast adoption of bitcoin in my country by accepting btc payment from customers who came to lodge or entertain themselves in the guest house. I also want to use the guest house as a medium to give bitcoin awareness to customers that comes to the guest house,due to the fact that it is a place where different people from different places comes to entertain themselves in the evening.
I am very happy for this new strategy and upgrade on how to serve my customers best next year on whatever form of payment,they will be using to pay for their accommodation. Yesterday evening, while I was checking one of the rooms,my bar attendant came to me that a customer wants to see me,meeting with him,he asked if he can make payment in btc for my service and I said yes. He opened up to me that he was on an assignment in research of some plants and he has already gotten a guest house where he is lodging but he has some challenges with them since they only prefer fiat currency which has been a challenge for him to meet up to his demands due to less fiat currency on him. He told me he will be spending up to a month in the village before going back to his state,he then asked how much is per night,which I told him and immediately he made a payment for twenty days with btc into my wallet,that he will move in the next day.
I decided to come and share this experience with people in this forum about the luck bitcoin acceptance has brought to my business this festival period. The truth is that,I have never had any customer that have lodged for straight two weeks due to the environment where the hotel is located. What are your contributions on this new change and suggestion in accepting bitcoin,does it means that businesses are suffering from fiat entrapment ?

I respect your actions and business. You are very wise person. You will go far in future. Such thoughts do not arise in every human being as they have arisen in you. Spread your thoughts to people and make your home a little more attractive. You will see that you have become very successful very quickly.

GreatArkansas

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Quote from: Merit.s on December 26, 2022, 10:18:09 PM

(....)
What are your contributions on this new change and suggestion in accepting bitcoin,does it means that businesses are suffering from fiat entrapment ?

Another way of contributing to the Bitcoin community is for example you are a customer or consumer from a business.
By just a simple question, asking the business, "Are you accepting Bitcoin?" is already a good way, a simple but a big help. Because it will help other people to become curious about what is Bitcoin.

uneng

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Quote from: Merit.s on December 26, 2022, 10:18:09 PM

What are your contributions on this new change and suggestion in accepting bitcoin,does it means that businesses are suffering from fiat entrapment ?

Here in my area bitcoin isn't accepted by any merchants, so I can't contribute to this change for now, because it doesn't exist.

In your case I see it's a very positive attitude to accept bitcoin as payment because you are suffering with your local native currency depreciation, so you are forced to find alternatives to deal with money in Nigeria and bitcoin has become the perfect solution. It helps you to preserve the value of your money, because it's stored in a valuable asset/currency that is bitcoin and since everyone in your country are on the same boat, facing the same difficulties daily, it must not be that hard to find people willing to pay you with bitcoin.

Congratulations for embracing technology and introducing it to other countrymen who weren't aware about bitcoin yet!

Leviathan.007

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Good to hear this from you and wish you the best of luck for you and your business, accepting bitcoin and cryptocurrencies can be a great step forward for any company and business because the world is stepping into it and if you check most of the famous payment systems are even taking about having partnerships to accept bitcoin and cryptocurrencies for their business to get more clients because the world is moving forward and it's up to you, if you step forward you can have a chance to develop your business and get progress. So the first advantage for you could be having more demand form your clients if their prefer bitcoin payments.

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Quote from: Merit.s on December 26, 2022, 10:18:09 PM

This guest house was inherited by my husband from his family,I run and manage it,it is located in a small village.After reading the information that cryptocurrency banned will soon be uplifted and legalize in Nigeria,I decided to help in fast adoption of bitcoin in my country by accepting btc payment from customers who came to lodge or entertain themselves in the guest house. I also want to use the guest house as a medium to give bitcoin awareness to customers that comes to the guest house,due to the fact that it is a place where different people from different places comes to entertain themselves in the evening.

It is good to hear that people are using Bitcoin in their daily business. I congratulate you on this wonderful achievement.
On the other hand, I see that accepting bitcoin payments may not be very useful if all your customers are local and prefer to use the local currency in order to avoid technical complications. Rather, this could open the door to receiving customers from other countries who can pay directly using bitcoin to make reservations before leaving their countries.
There are some other details that remained unclear, such as how you will calculate the percentage of taxes that you will pay, given the fluctuating price of Bitcoin and that your country, Nigeria, has not yet legalized the use of Bitcoin.

CryptoPanda

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Quote from: Rruchi man on December 27, 2022, 12:37:55 PM

Quote from: Merit.s on December 26, 2022, 10:18:09 PM

I also want to use the guest house as a medium to give bitcoin awareness to customers that comes to the guest house,due to the fact that it is a place where different people from different places comes to entertain themselves in the evening.

Customers come for entertainment and relaxation as you have mentioned, they surely will not want an environment where the focus is no longer their entertainment but an awareness. There is the right time for everything.

I see your point, but in OP’s defense we go to watch the football game at the stadium, and the casinos and companies that sponsor are always advertised in a subtle manner around the stadium. I’m not sure what exactly OP has in mind about using his motel as a medium to create bitcoin awareness, I’m not sure if it’s a lecture or something else. I think it will be best to keep it plain and simple to the bitcoin ads around the motel premises. Anyone who’s interested will do their own research.

GeorgeJohn

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From the beginning i understand that this statement is like assumptions of legalizing cryptocurrency in this particular country, i even taught your emphasis will be generalized from my observation, so therefore cryptocurrency legalization will be very rigid before some of the African countries will embrace it, because they have different understanding over cryptocurrency, and the main point that they can't allow cryptocurrency to be accepted as a means of payment, because of the negative thinking of their government over embezzlement of funds through cryptocurrency.

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Quote from: Merit.s on December 26, 2022, 10:18:09 PM

What are your contributions on this new change and suggestion in accepting bitcoin,does it means that businesses are suffering from fiat entrapment ?

Your experience is a good one, and deciding to start accepting btc payments for your services is also a good decision, personally, i dont think businesses are suffering from fiat entrapment as you called it, what business are suffering from is inflation and devaluations of fiat currencies.

The thing actually is that, businesses offering customers multiple types of payments for their services is always good, as this does not only put them at the fore front, it also give them an edge over other businesses that do not offer such privileges'.
I for example have got out many times to buy something and wish i could just find a business around my area that accepts bitcoin payment, as a person that's always short on fiat cash, if it happens i find such a place, that automatically become my always go place for everything and anything i want to buy, as long as they sell what i want.

jrrsparkles

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This story is good and will help in the development of your financial success but this ain't said any advantage to me either cause with the current policies accepting bitcoin as payment is complicated for an organized business where you have to pay appropriate tax for the earnings you made as profits.

Bitcoin holds advantage too which is no hidden fee, irreversible transaction, easy cross over between borders and much more but we need the policy to support this system to utilize all the pros of Bitcoin.

drwhobox

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Accepting bitcoin as a payment method is a great idea, but also make sure clients/customers are inspired to pay with bitcoin. Most of the people will avoid bitcoin payments and will pass it on to cash or other payments. Make it easy and attractive for your customers to pay with bitcoin. By attractive means give them some discount or give them some points which they can use later to buy anything from you. They will acquire these points or discounts if they only pay with bitcoin.

It's good to see Nigerians are very aware of bitcoin and trying to spread it to their community.

Rruchi man

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Quote from: Merit.s on December 26, 2022, 10:18:09 PM

I also want to use the guest house as a medium to give bitcoin awareness to customers that comes to the guest house,due to the fact that it is a place where different people from different places comes to entertain themselves in the evening.

Customers come for entertainment and relaxation as you have mentioned, they surely will not want an environment where the focus is no longer their entertainment but an awareness. There is the right time for everything.

Quote from: Merit.s on December 26, 2022, 10:18:09 PM

Yesterday evening, while I was checking one of the rooms,my bar attendant came to me that a customer wants to see me,meeting with him,he asked if he can make payment in btc for my service and I said yes. He opened up to me that he was on an assignment in research of some plants and he has already gotten a guest house where he is lodging but he has some challenges with them since they only prefer fiat currency which has been a challenge for him to meet up to his demands due to less fiat currency on him. He told me he will be spending up to a month in the village before going back to his state,he then asked how much is per night,which I told him and immediately he made a payment for twenty days with btc into my wallet,that he will move in the next day.

I don't if I am the only one not buying this story, someone going on a long trip will always want to have as much fiat as possible.

Quote from: Merit.s on December 26, 2022, 10:18:09 PM

The truth is that,I have never had any customer that have lodged for straight two weeks due to the environment where the hotel is located. What are your contributions on this new change and suggestion in accepting bitcoin,does it means that businesses are suffering from fiat entrapments?

The fact that you now accept bitcoins will not still attract customers if your services are still unsatisfactory. I personally will not spend a night in a hotel with very unsatisfactory service just because they accept bitcoins.
Make some renovations, Improve your services and you will get more customers.

Topic: Advantage of accepting bitcoin in business - page 5. (Read 1552 times)