Bitcoin as my new payment method - page 2.

GreatArkansas

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Quote from: agustina2 on August 21, 2022, 07:22:41 PM

Quote from: Superdoctor on August 20, 2022, 02:32:42 AM

(....)

I don't really mind if you switch to bitcoin payment but what I'm thinking is, do you really get a good number of customers paying in bitcoin since you even considered that accepting bitcoin is a great life-changing decision? If that so, then your country or place do have lots of crypto-oriented people.
(.....)

I don't think this is important now. Having multiple payment methods or, having flexible payment methods will help your business because customers will help to choose what they preferred payment methods and also this is also a good help to introduce or advertise Bitcoin to other people especially those new ones without an idea how Bitcoin works, they will start be curious once they hear Bitcoin.

kamvreto

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Quote from: sheenshane on August 21, 2022, 07:08:11 PM

We've heard here a lot of stories about Bitcoin acceptance as a payment on their place and I hope they understand how volatile Bitcoin is to know possible risks on the price. Glad to hear a story like this, it will help the community of Bitcoin go strong and give awareness to the people in your place. But one thing just to make sure, understand how Bitcoin works because it's very crucial in your business, all transactions are irreversible, once you've hit the send button and have at least 3 confirmations on the network, you can't undo it.

However, it always has an advantage if we've knowledgable about it, I suggest you study it.
Good luck with your business.

the risk is bitcoin's volatility but behind all that there are many advantages that can be utilized. transactions with bitcoins will be recorded in blockchain and no one will be able to delete them, transparent and accessible to anyone. those who accept bitcoin as a new payment method of course already know what bitcoin is and what the risks and advantages are. This is also related to regulatory issues in each country, the application of bitcoin must follow the regulations of the country they occupy. For countries that only provide regulation as a commodity, it is not allowed to be used as a means of payment other than Fiat.

tippytoes

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Quote from: sheenshane on August 21, 2022, 07:08:11 PM

We've heard here a lot of stories about Bitcoin acceptance as a payment on their place and I hope they understand how volatile Bitcoin is to know possible risks on the price. Glad to hear a story like this, it will help the community of Bitcoin go strong and give awareness to the people in your place. But one thing just to make sure, understand how Bitcoin works because it's very crucial in your business, all transactions are irreversible, once you've hit the send button and have at least 3 confirmations on the network, you can't undo it.

However, it always has an advantage if we've knowledgable about it, I suggest you study it.
Good luck with your business.

More than likely, he already knew the risks involved when it comes to crypto market. As he might have seen the up and down movements, he knows what he's getting into. Because he can always convert it to fiat upon receipt of crypto payment to avoid possible losses. Or he can wait, and exchange it when bitcoin is high. So exploring the crypto payment may give him benefits and it is up to him how he will prevent losses.

agustina2

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Quote from: Superdoctor on August 20, 2022, 02:32:42 AM

I’ve been a merchant wholesaler for the past four years now. A lot has changed in my business since I introduced Bitcoin as a means of payment. I receive money quickly, I’m able to save up by storing and holding my bitcoins and I can withdraw from my account at my convenience, no limit options. This is far beneficial to me than when I was using banks. Within the first two years Of starting my business I always go to the bank to increase my account limit and set up other necessities. Sometimes it doesn’t get effective immediately I have to wait for 48hrs or the next five working days before it works and still I do have some issues from time to time. This year I decided to start receiving Bitcoin as a means of payment. All I did was print out my wallet address, pasted it on the wall and my customers who knew about Bitcoin already was so delighted I introduced Bitcoin as a means of payment and for those who didn’t have an idea,I educated them on how Bitcoin works and how it can be useful to them.. Everything has been going swiftly,I’m so glad I made this great life changing decision of making Bitcoin a payment method in my business.

I don't really mind if you switch to bitcoin payment but what I'm thinking is, do you really get a good number of customers paying in bitcoin since you even considered that accepting bitcoin is a great life-changing decision? If that so, then your country or place do have lots of crypto-oriented people.

I also don't understand how you went through a difficult process with your bank. Maybe there are really problems at your side that you need to address as there will be a time that it might question the legality of your business.

You are also in business for 4 years and that should not be a problem.

sheenshane

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We've heard here a lot of stories about Bitcoin acceptance as a payment on their place and I hope they understand how volatile Bitcoin is to know possible risks on the price. Glad to hear a story like this, it will help the community of Bitcoin go strong and give awareness to the people in your place. But one thing just to make sure, understand how Bitcoin works because it's very crucial in your business, all transactions are irreversible, once you've hit the send button and have at least 3 confirmations on the network, you can't undo it.

However, it always has an advantage if we've knowledgable about it, I suggest you study it.
Good luck with your business.

Rabi3

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Quote from: Superdoctor on August 20, 2022, 02:32:42 AM

I’ve been a merchant wholesaler for the past four years now. A lot has changed in my business since I introduced Bitcoin as a means of payment. I receive money quickly, I’m able to save up by storing and holding my bitcoins and I can withdraw from my account at my convenience, no limit options. This is far beneficial to me than when I was using banks. Within the first two years Of starting my business I always go to the bank to increase my account limit and set up other necessities. Sometimes it doesn’t get effective immediately I have to wait for 48hrs or the next five working days before it works and still I do have some issues from time to time. This year I decided to start receiving Bitcoin as a means of payment. All I did was print out my wallet address, pasted it on the wall and my customers who knew about Bitcoin already was so delighted I introduced Bitcoin as a means of payment and for those who didn’t have an idea,I educated them on how Bitcoin works and how it can be useful to them.. Everything has been going swiftly,I’m so glad I made this great life changing decision of making Bitcoin a payment method in my business.

that's so nice to hear, it takes some guts to make such a decision, a lot of people are still skeptical about Bitcoin and they are afraid of getting in trouble with the government for doing that, it's what's stopping a lot of businesses of accepting bitcoin as a payment method, thank God it worked out pretty well with you, good luck on the upcoming years, wish you more success.

Wakate

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Quote from: Superdoctor on August 20, 2022, 02:32:42 AM

I’ve been a merchant wholesaler for the past four years now. A lot has changed in my business since I introduced Bitcoin as a means of payment. I receive money quickly, I’m able to save up by storing and holding my bitcoins and I can withdraw from my account at my convenience, no limit options. This is far beneficial to me than when I was using banks. Within the first two years Of starting my business I always go to the bank to increase my account limit and set up other necessities. Sometimes it doesn’t get effective immediately I have to wait for 48hrs or the next five working days before it works and still I do have some issues from time to time. This year I decided to start receiving Bitcoin as a means of payment. All I did was print out my wallet address, pasted it on the wall and my customers who knew about Bitcoin already was so delighted I introduced Bitcoin as a means of payment and for those who didn’t have an idea,I educated them on how Bitcoin works and how it can be useful to them.. Everything has been going swiftly,I’m so glad I made this great life changing decision of making Bitcoin a payment method in my business.

One of the reason why Satoshi Nakamoto created Bitcoin is to make it decentralized where people can use it as a payment method in a decentralized manner. Bitcoin is meant to excludes various bank processes that could an account holder tired of kewping money in the bank. Bitcoin is here to stay to we'll have to embrace it more and appreciate the creator.

I have also used Bitcoin for many payment of services and I never regretted of getting to know about Bitcoin at the first place. Since it is decentralized, we all can make countless transactions without anybody querying us of how we are spending our money. The government has no power to freeze or reduce our transactions limit which is why it is a free world.

fuguebtc

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You did the right thing, mate.
Accepting bitcoin as a payment method will make your work more convenient and reach a more diverse source of customers and the best part is that you don't have to go to the bank to deal with late transfers or limit increases like you did. This has been thoroughly solved by bitcoin.

But I want to tell you, bitcoin payments are irreversible, so you and your customers should make sure the address is correct before making a bitcoin transfer, otherwise you won't have a chance to get them back.

tjtonmoy

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Quote from: Superdoctor on August 20, 2022, 02:32:42 AM

I’ve been a merchant wholesaler for the past four years now. A lot has changed in my business since I introduced Bitcoin as a means of payment. I receive money quickly, I’m able to save up by storing and holding my bitcoins and I can withdraw from my account at my convenience, no limit options. This is far beneficial to me than when I was using banks. Within the first two years Of starting my business I always go to the bank to increase my account limit and set up other necessities. Sometimes it doesn’t get effective immediately I have to wait for 48hrs or the next five working days before it works and still I do have some issues from time to time. This year I decided to start receiving Bitcoin as a means of payment. All I did was print out my wallet address, pasted it on the wall and my customers who knew about Bitcoin already was so delighted I introduced Bitcoin as a means of payment and for those who didn’t have an idea,I educated them on how Bitcoin works and how it can be useful to them.. Everything has been going swiftly,I’m so glad I made this great life changing decision of making Bitcoin a payment method in my business.

I have also implemented crypto payment system in my business few days back. I had a lot of questions and doubts. After hearing everyone's suggestions on this matter, many things have become much easier to understand and got some very new and innovative ideas which I will be adding to my system.
feel free to read the thread here : https://bitcointalksearch.org/topic/i-started-business-many-days-ago-now-its-time-to-accept-crypto-as-a-payment-5409470
And I respect your choice on BTC payment system.

Warkop

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In the country I live in, maybe don't accept bitcoin payment methods yet, it's just that my government has legalized bitcoin in a tourist city, namely BALI, where many foreign guests vacation there to make it easier for them to transact using bitcoin as a payment method, whether it's staying overnight in hotels, bars, or to restaurants, and games, it is also possible to use bitcoin as payment, so that's all I can tell you..

kamvreto

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be an amazing experience by accepting bitcoin payments for the goods you sell. No more withholding taxes and other authorities and your Bitcoins are completely yours. if you have started accepting bitcoin payments, of course your country's regulations already allow bitcoin as a legal tender. but if your country doesn't allow it, I think it's a violation. but after all this is a vivid example of the use of bitcoin as a means of payment for goods and services. you are a little earlier than us who have never used bitcoin as legal tender.

Superdoctor

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Quote from: 8rch7 on August 20, 2022, 09:50:36 AM

You may say bitcoin has become your payment method but you also have to realize that not everyone can use bitcoin as payment, like in my country there are still very many people who don't know about bitcoin, in fact they don't even know what bitcoin is, it's best you introduce bitcoin to other people and try to teach them and provide free education to them, so bitcoin can be known more widely.

Definitely not everyone can use Bitcoin payment method but so far I have been able to introduce so many persons interested in knowing about how Bitcoin works. They now understand how Bitcoin payments are being done, how to buy, send and receive bitcoins. Well they now know the basic information about Bitcoin. So even if not everyone can use it I’m glad I have been able to use Bitcoin as a means of payment in my business and people have been using it very well. For those who are yet to use it, I hope they use it soon.

BobK71

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Quote from: Superdoctor on August 20, 2022, 02:32:42 AM

I’ve been a merchant wholesaler for the past four years now. A lot has changed in my business since I introduced Bitcoin as a means of payment. I receive money quickly, I’m able to save up by storing and holding my bitcoins and I can withdraw from my account at my convenience, no limit options. This is far beneficial to me than when I was using banks.

For accepting Bitcoin as a payment method benefits you in many ways. First, accepting payments in Bitcoin served as an advertisement. Crypto users will be able to figure out your organization very easily. They will be more motivated to get the product with the new payment system. Moreover, there are some common advantages. As you don't have to visit the bank there is no accountability required, no limitations in transaction etc.

kasunrandil

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well done my friend. this is called real adoption. people are steping down from centralized systems and onboarding to the decentralized and fast systems such as bitcoin. in my county most of my friends who trades good and services are accepting bitcoin as one of their payment method now. this is what nakamoto wanted. this is how decentralized financial systems are made.

samuraijin

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Unfortunately my country has not accepted this method, and it is still illegal to use bitcoin as payment to buy goods, would like to hear about countries that have accepted payment methods using bitcoin, it is very rare to find in my country..

Coin_trader

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It will be a good story if you indicate what country your business located to determine the Bitcoin adaptation level on your environment. I’m accepting Bitcoin too on my business since last year and I’m giving discounts for customer that paying using Bitcoin but still I don’t have too much customer that know or want to pay Bitcoin despite my discount offered.

I’m residing in Philippines and Bitcoin is already popular here but even with that good stats on cryptocurrency here. I’m having a hard time to convince my customer to use Bitcoin. Don’t get me wrong, I have 2000 to 5000USD monthly profit that’s why I want them to use Bitcoin instead to save me from conversion fee of my fiat to Bitcoin. I guess people here is not willing to use Bitcoin as payment.

8rch7

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You may say bitcoin has become your payment method but you also have to realize that not everyone can use bitcoin as payment, like in my country there are still very many people who don't know about bitcoin, in fact they don't even know what bitcoin is, it's best you introduce bitcoin to other people and try to teach them and provide free education to them, so bitcoin can be known more widely.

Poker Player

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Quote from: PX-Z on August 20, 2022, 08:35:09 AM

Sounds like a sugar coated one, but no offence, it would be good if that really what happen as you may know, lots of crypto businesses file bankruptcy just this year.

You said you started bitcoin accepting just this year. What did you do particularly when bitcoin dumps so much on the past few months? How it affects your business?

Also, what wallet particularly you are using. Did you use a wallet/exchange that eventually exchange bitcoin to fiat or you just store it and exchange later on.

I'm usually pretty skeptical of these kinds of stories, but there's something in the story that hasn't made me automatically dismiss it as bullshit.

OP, could you give more details on whether you use a custodial wallet or what kind and if you used an exchange like PX-Z asks?

It would also be helpful to know if you are in a poor country or one of the more industrialized ones. No need to say the exact country if you don't want to.

cheezcarls

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Quote from: Superdoctor on August 20, 2022, 02:32:42 AM

I’ve been a merchant wholesaler for the past four years now. A lot has changed in my business since I introduced Bitcoin as a means of payment. I receive money quickly, I’m able to save up by storing and holding my bitcoins and I can withdraw from my account at my convenience, no limit options. This is far beneficial to me than when I was using banks. Within the first two years Of starting my business I always go to the bank to increase my account limit and set up other necessities. Sometimes it doesn’t get effective immediately I have to wait for 48hrs or the next five working days before it works and still I do have some issues from time to time. This year I decided to start receiving Bitcoin as a means of payment. All I did was print out my wallet address, pasted it on the wall and my customers who knew about Bitcoin already was so delighted I introduced Bitcoin as a means of payment and for those who didn’t have an idea,I educated them on how Bitcoin works and how it can be useful to them.. Everything has been going swiftly,I’m so glad I made this great life changing decision of making Bitcoin a payment method in my business.

Despite that BTC is just more than a decade old, it’s still very young right now. Until now, there are still lots of people (especially the senior citizens) who aren’t aware of Bitcoin yet despite the trend increases.

But I have a question though. Which Bitcoin wallet are you using for your business? Is it from a centralized wallet? Or Bitcoin lightning network?

PX-Z

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Sounds like a sugar coated one, but no offence, it would be good if that really what happen as you may know, lots of crypto businesses file bankruptcy just this year.

You said you started bitcoin accepting just this year. What did you do particularly when bitcoin dumps so much on the past few months? How it affects your business?

Also, what wallet particularly you are using. Did you use a wallet/exchange that eventually exchange bitcoin to fiat or you just store it and exchange later on.

Topic: Bitcoin as my new payment method - page 2. (Read 486 times)