Bitcoin as my new payment method - page 3.

Nrcewker

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Quote from: Superdoctor on August 20, 2022, 01:32:42 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.

Glad to listen that Bitcoins have helped you so much in making your business so smooth.
Only negative factor of Bitcoins is that the price inflation or fluctuation, for which if you ever need to cash out you might end up with some losses.
But yes if you manage to hold the Bitcoins that you get from your payments for at least 4-5 months, then definitely you will get twice the amount that you held earlier.
Nevertheless it would have been great if you could share with us the exact figure that you receive from cryptos on average in a month. It would have been motivated more business dealers to integrate Bitcoins in one of their payment method also.

mindrust

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Quote from: Superdoctor on August 20, 2022, 01:32:42 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.

You should accept a variety of altcoins too imo. Sometimes the bitcoin network gets very slow and expensive because lots of people use it and your customers might want to use the alternatives. LTC, XMR, DOGE are good solid alternatives which have been around since forever. They are not as cool as bitcoin but providing some alternatives is still a good idea. imo. Your other choice is enabling the lightning network but I don't think many people use it.

romero121

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Not everyone does this with courage with the fear of increased tax and legalities within the country. I believe you're good to introduce bitcoin to your customers. There'll be always some sort of limitations with the banking which isn't there with cryptocurrency. This makes cryptocurrency far better against the traditional banking system used for business needs.

Introducing bitcoin as payment option is really good and doing it by now makes you one among the earliest to do so. For now the business transactions are much into banking and other payment applications. Soon this will move to cryptocurrency. What people like do is the the base for large scale progress.

Z-tight

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Such a nice thing that you have done, many merchants are yet to introduce bitcoin as a means of payment in their business because of volatility, and some accept it, but through payment processors; another drawback is the customers, many of them are reluctant to pay with bitcoin because it is a currency and asset that has an appreciative value, so they treasure it & want to keep it and spend fiat that is depreciative, it makes sense, but it is good to spend bitcoin a few times as you can. I don't know where your business is located, but your post sounded like many of your customers are now actually paying with bitcoin than fiat, that's not possible right? Which makes me curious to know how you go about it. Cheers Superdoctor.

Superdoctor

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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.

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