Best way to get paid in BTC if you are a weed-shop owner?

Plaguedeath

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Quote from: 2Pizza410000BTC on November 11, 2023, 10:21:27 PM

At the end of the day you can convert your BTC to USD so you have no loss if the market goes down.

Lol I believe the reason why @OP want to start accepting BTC payment in his shop is he want to hold Bitcoin, if his intention want to get paid in inflated currency, he will not ask this question.

Quote from: NeilLostBitCoin on October 21, 2023, 02:25:47 AM

Common sense, bro. That's the only way they can receive Bitcoin in the Ethereum Chain. Wrapped Bitcoin (WBTC) is an ERC-20 token representing Bitcoin on the Ethereum network.

I read the context talks about fee.

Do you think Ethereum network is cheaper than Bitcoin network? currently Bitcoin fee is more expensive because of ordinal attack, but in general Bitcoin fee is cheaper than Ethereum network.

2Pizza410000BTC

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OP I have read all your details but you can feel free to start bitcoin transactions in your business without any hassle. Many people like you have introduced BTC payments in their business. But you can use any BTC wallet to receive BTC in your business. There you can scan the QR code and drag it to the store so that everyone can make BTC payments by scanning the QR code. At the end of the day you can convert your BTC to USD so you have no loss if the market goes down.

bluebit25

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Actually, this issue should be looked at from a business perspective, not a transaction processing technique, because you can accept payments with crypto as just one payment method among many others. And it mainly depends on your customers, if they know crypto, it will make it easier for both parties to negotiate, but if they don't know and understand crypto, there's no need to force them to pay in that form, as long as the transaction is convenient for customers because it is business.

However, I have a suggestion to help you attract a crypto-aware audience willing to pay for your items, put a few slogans next to your store's banner "accept payments with crypto" or but the thing with the same content. I'm sure it will help you easily reach audiences who share your passion for crypto, as well as your interests in the products you are trading.

BabyBandit

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Quote from: m2017 on October 19, 2023, 10:16:35 AM

Quote from: BabyBandit on October 16, 2023, 01:25:42 AM

~snip

Once you start accepting the bitcoin as payment for goods (will not discuss the ethical side of the issue in your case) in your store, it will create yet another excuse for bitcoin haters to say that the bitcoin is being used to buy illegal and prohibited substances / goods (even though it is legal in your country).

Lol! Yeah you have 100% right there bro Grin

, they take every chance they got sadly! But they will lose in the end my friend! Bitcoin for everyone!

Quote from: NeilLostBitCoin on October 21, 2023, 02:25:47 AM

I suggest good ideas to the shop owner so that when the clients/customer is cheap, they can still consider paying in Bitcoin. Some application services in our country offer free transfer inside their applications to have more users.

That's what forum is all about! Thanks mate. 🙏

Quote from: adaseb on October 18, 2023, 10:52:36 PM

Keep in mind that unless you are running the till, you will need to train your employees how to accept the crypto payment. Most employees have no idea how to properly make sure the funds are sent to the correct address and make sure the correct amount.

The few stores in my area that accepted it, they just had a bar code of the address and you sent the money there but the workers usually preferred to get paid in fiat because they didn’t know exactly how to do the crypto transaction.

Yeah I have been thinking about this ALOT! Grin

I hope it will be a easy process for them to understand how it works, I have already introduced them a little bit, but slowly and safe and I think it will turn out good at the end.

Thank you for all the helpful replies, been busy times. Will probably install something next week and post a update how it worked out.

- Regards BabyB. 👼

NeilLostBitCoin

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Quote from: Z-tight on October 19, 2023, 11:11:08 AM

WBTC is not BTC, it is an altcoin, and if you receive WBTC you are receiving an ERC-20 token.

If you are accepting BTC, either in your business or any sort of tx, it does not matter what wallet your customer, client or payer uses, all you have to do is provide a BTC address or your address's QR code for payment, and whoever is paying can decide on the wallet they want to use for the payment. Take note that if you are sending BTC on-chain, there's nothing such as zero fees, you must pay tx fees if you want miners to confirm your tx.

Common sense, bro. That's the only way they can receive Bitcoin in the Ethereum Chain. Wrapped Bitcoin (WBTC) is an ERC-20 token representing Bitcoin on the Ethereum network.

I suggest good ideas to the shop owner so that when the clients/customer is cheap, they can still consider paying in Bitcoin. Some application services in our country offer free transfer inside their applications to have more users.

rat03gopoh

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Quote from: Texac on October 18, 2023, 07:03:13 AM

How can that happen if you tightly manage your store? If you manage your store well from product quality and quantity of goods in the store, it is easy to see if the goods in the store decrease but input revenue is lacking.

Yeah, but the shop owner's incompetence sometimes makes big crimes go unnoticed. Imagine you work at the shop and the owner wants to try something different because bitcoin is trending as a means of payment. From this point on only you know how the payment system should be set up and you deliberately installed a back door to the system, on the other hand you managed to convince the owner not to check or withdraw his bitcoins for some reason.

Ever-young

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Quote from: bluefirecorp_ on October 18, 2023, 09:33:52 PM

I could probably setup a system to work with your point of sale, I'm looking for a short term gig and weed industry is very interesting.

Is this legal in your place ? I don’t know how many country have made weed legal for it to be publicly sold out their to the extent of opening up a shop for it. If it’s legal then you can probably start up one as you plan to, it’s just that in my own side here even being found having one you are in trouble talk more of starting up such business.

But if you can get that started I believe you will make lot of money from it, as the market is selling illegal in most places and still their are lot of profit talk more of when you will start up in the open many people will want to patronize you and paying with bitcoin is really going to be part of their choice of payment.

Z-tight

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Quote from: NeilLostBitCoin on October 19, 2023, 04:21:47 AM

You can receive Bitcoin using a Metamask wallet with (WBTC) Wrapped Bitcoin in an Ethereum Chain.

WBTC is not BTC, it is an altcoin, and if you receive WBTC you are receiving an ERC-20 token.

Quote from: NeilLostBitCoin on October 19, 2023, 04:21:47 AM

If you are considering accepting Bitcoin, it is highly recommended to determine the most commonly used Bitcoin wallet application in your country. You can accomplish this by creating a poll on a local board and asking participants why they prefer to use a particular application over others. This information will help you decide whether to use the most popular application or other options that offer different advantages, such as zero fees.

If you are accepting BTC, either in your business or any sort of tx, it does not matter what wallet your customer, client or payer uses, all you have to do is provide a BTC address or your address's QR code for payment, and whoever is paying can decide on the wallet they want to use for the payment. Take note that if you are sending BTC on-chain, there's nothing such as zero fees, you must pay tx fees if you want miners to confirm your tx.

m2017

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Quote from: BabyBandit on October 16, 2023, 01:25:42 AM

~snip

Once you start accepting the bitcoin as payment for goods (will not discuss the ethical side of the issue in your case) in your store, it will create yet another excuse for bitcoin haters to say that the bitcoin is being used to buy illegal and prohibited substances / goods (even though it is legal in your country).

Quote from: OgNasty on October 16, 2023, 01:36:21 AM

The best way would be to handle it all yourself without any intermediaries. You could setup a BTC Pay server and then you could just accept BTC and store it safely yourself without any outside concerns. If you wanted to be able to exchange it immediately for USD you could use a service like Coinbase that can handle that for you.

Why do you need a BTC Pay server? Wouldn't it be enough to simply indicate the btc address (or QR code) to which buyers will send bitcoin? The convenience of bitcoin lies precisely in this, that you don't need any payment terminals or payment services. Why complicate this?

Texac

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Quote from: Jawhead999 on October 18, 2023, 10:51:29 PM

Quote from: Texac on October 18, 2023, 07:03:13 AM

Furthermore, if your employees can do it with bitcoin, they can also do it with fiat. I think it's a problem in recruitment and human resource management and has nothing to do with using bitcoin or QR for customers to pay. QR is a convenient method and is being implemented in most stores in developing countries.

Yeah it can happen in fiat too, so it's not a matter for the currency.

When a the store give their QR code, when you scan it you will see the name or brand you will pay. Let's say it's should be "KFC", but the employee is using their own QR code and after you scan it the name is "Alice". This can be easily noticed by the sender, but if he don't care about that, he will send the money to Alice instead of KFC.

In general, that is not too new and still happens in some stores when human resource management is not really good. and what I want to say is that it has absolutely nothing to do with using bitcoin as a payment method for our business. and even if that happens, it's not the customer's fault but ours because we didn't manage our employees well. if an employee intentionally commits fraud, whether it is with fiat currency or bitcoin, they will still do it.

Blitzboy

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MetaMask is primarily an Ethereum-based wallet, and you cant accept Bitcoin directly through it. But the world of crypto doesnt end at Ethereum. Now, if you're adamant about Bitcoin (and you should be, given its prominence), then you need a comprehensive solution. Wallets like Coinbase Commerce or BitPay offer merchant services and allow acceptance of multiple cryptocurrencies, including BTC. You are absolutely right with the QR code idea. These services provide you with a QR code for payments. Customers scan, pay, and its done. Simple, direct, no frills.

However, a word of caution: crypto payments, while futuristic and cool, arent always as straightforward as traditional methods. Transaction times, fluctuations in value, potential tech issues - these could pose problems. You need to be prepared to face these challenges head-on. Its not just about having a QR code printed and stuck to your counter. Its about understanding the ecosystem, the potential pitfalls, and the advantages. If you're ready to dive deep and get your hands dirty, then welcome to the future of payments.

Yogee

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Quote from: NeilLostBitCoin on October 19, 2023, 04:21:47 AM

You can receive Bitcoin using a Metamask wallet with (WBTC) Wrapped Bitcoin in an Ethereum Chain.

If you're reading this OP then I suggest not to go this route for two reasons:
- it could only complicate things for you and your customer
- transaction fees on the Ethereum for WBTC is often higher than the real Bitcoin network so that's another inconvenience

You are better off using one wallet that supports multiple networks like Bitcoin and Ethereum than receiving BTC in two different chains.

NeilLostBitCoin

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You can receive Bitcoin using a Metamask wallet with (WBTC) Wrapped Bitcoin in an Ethereum Chain.

If you are considering accepting Bitcoin, it is highly recommended to determine the most commonly used Bitcoin wallet application in your country. You can accomplish this by creating a poll on a local board and asking participants why they prefer to use a particular application over others. This information will help you decide whether to use the most popular application or other options that offer different advantages, such as zero fees. However, it is essential to note that not all exchange or Bitcoin wallet applications offer zero transfer fees when transferring funds to other users. In addition, some wallets are not secure since you are not holding your keys, but some users consider this option since it may be cheaper on their end. So my advice is that if you consider using some of these applications, you might secure them after receiving them.

Nrcewker

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Quote from: OgNasty on October 16, 2023, 01:36:21 AM

The best way would be to handle it all yourself without any intermediaries. You could setup a BTC Pay server and then you could just accept BTC and store it safely yourself without any outside concerns. If you wanted to be able to exchange it immediately for USD you could use a service like Coinbase that can handle that for you.

Yes coinbase can really help OP if he wants to quickly cash out the money that he has received through Bitcoins. But I would suggest OP not to cashout the Bitcoins soon. Soon it’s estimated that Bitcoins will go up. So if you can hold the coins temporarily for a shorter period of time, then definitely you will make good profits from it. And regarding how to setup the payment gateway, I guess many members have already responded about that. So good luck with your business.

spectre71

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I used to own a rather large weed farm here in the US legal.

The federal laws on banking are a pain in the ass! If banks suspect you are a weed farm they will drop you in a hot second. So getting it from BTC to cash is a huge pain in the ass unless yo can find a private buyer. It could look allot like laundering money if you don't keep tight records. Now if you could get your supplier(s) to accept it that would be sweet. I doubt it. If I did it I would purchase pre paid cards and use those. aka bitrefill

There are weed friendly banks but they charge huge fee's per month.

mocacinno

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Quote from: mindrust on October 18, 2023, 11:09:05 PM

It doesn’t matter what you are selling as long as it is legal in your country. You can use any of the mainstream payment processors. Btcpay is opensource and free I believe. The other option is bitpay which is closed source and not-free. If you use btcpay you’ll have to set it up yourself but if you use bitpay their team will probably help you with the process because they’ll be making money. Ultimately both of them will work and there are many merchants that use btcpay or bitpay. If you are a person who likes DIY stuff, go with btcpay. If you are no good with following instructions, then go with bitpay.

Bitpay isn't the only payment processor on the market... I don't know where they stand right now, but a while ago they had a pretty bad reputation amongst a subset of the community (not for scamming, but for other stuff like forcing KYC on both the vendor and the customer).
If you're going to use a processor (so you don't have to handle everything yourself), it might be a good idear to do a small market study before picking one...

Here's a website i'm not affiliated with, and that might be out of date, but nevertheless it's interesting reading material before jumping on bitpay's ship: https://debitpay.directory/anti-bitcoin/

mindrust

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It doesn’t matter what you are selling as long as it is legal in your country. You can use any of the mainstream payment processors. Btcpay is opensource and free I believe. The other option is bitpay which is closed source and not-free. If you use btcpay you’ll have to set it up yourself but if you use bitpay their team will probably help you with the process because they’ll be making money. Ultimately both of them will work and there are many merchants that use btcpay or bitpay. If you are a person who likes DIY stuff, go with btcpay. If you are no good with following instructions, then go with bitpay.

adaseb

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Keep in mind that unless you are running the till, you will need to train your employees how to accept the crypto payment. Most employees have no idea how to properly make sure the funds are sent to the correct address and make sure the correct amount.

The few stores in my area that accepted it, they just had a bar code of the address and you sent the money there but the workers usually preferred to get paid in fiat because they didn’t know exactly how to do the crypto transaction.

Jawhead999

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Quote from: Texac on October 18, 2023, 07:03:13 AM

Furthermore, if your employees can do it with bitcoin, they can also do it with fiat. I think it's a problem in recruitment and human resource management and has nothing to do with using bitcoin or QR for customers to pay. QR is a convenient method and is being implemented in most stores in developing countries.

Yeah it can happen in fiat too, so it's not a matter for the currency.

When a the store give their QR code, when you scan it you will see the name or brand you will pay. Let's say it's should be "KFC", but the employee is using their own QR code and after you scan it the name is "Alice". This can be easily noticed by the sender, but if he don't care about that, he will send the money to Alice instead of KFC.

bluefirecorp_

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I could probably setup a system to work with your point of sale, I'm looking for a short term gig and weed industry is very interesting.

Topic: Best way to get paid in BTC if you are a weed-shop owner? (Read 464 times)