What ever business kind I think keep forward and always adapted what the new technology depending we are in modern era, I think your business accepted bitcoin is should did because right now become the era of digital currency where all payment transaction easy to do if using bitcoin or altcoin. How to build business nowadays need to see our costumer development, were most of them have used bitcoin as the way for investing and have chance open your business by accepting bitcoin as payment currency.
However you made costumer easy when joining with your business because have several kinds way for payment currency used, with option accepted bitcoin in your business I think have added several new costumer later.
Topic: I Opened another business were I accept Bitcoin (Read 1025 times)
I just Opened the business on 1st/September/2022 and on the 2nd/Sep/2022 I was surprised to receive a call from my employee that a customer wants to take #18,000 (Nigeria Naira) and pay in Bitcoin, I did the calculation and added $3 fee for my business charge and sent the details across and the customer sent 0.00155 BTC. I asked my employee to give cash to the customer when she confirms the transaction is processing, so the customer initiated the transaction and receive the cash he needed.
Good decision when opening new business accepted bitcoin as payment currency transaction, I think your country Nigeria have been popular with bitcoin around I saw many member from Nigerian in Bitcointalk forum. I think not really expensive when payment charge fees about $3 but I hope you can use comparison with charge fees, if transaction above $1,000 maybe you can add little fees transaction or depending with huge amount transaction for fees payment.With accepting bitcoin so openly, I don't know if it will get him and his business in trouble with the authorities. Hope he is aware of what he is doing, otherwise he will have a bad experience.
The transaction fee of 3 $ will not be high if we trade with a large amount but there will be problems when they convert to a smaller amount, not many people are willing to accept.
I will always support a person who ventures to accept Bitcoin and more in a prohibited country, I have read about the culture of Nigeria and it has many good things and its people are very friendly and cheerful, surely a government that prohibited them should not stay with that, I like that they can do and be irreverent, bitcoin was made for everyone, and in a business everything is valid, besides Bitcoin represents money, another thing is that they want to limit the lives of some people in particular better, always in this economy there are freedoms that a traditional system does not offer, Nigeria and its people know that a way out is bitcoin, very good for those businesses that accept btc.
At the moment, I am not a business owner but however, I would 100% accept Bitcoin as payment. I would prefer it over credit cards and offer my customers incentives for them to buy my product or service using Bitcoin.
The good thing that comes from accepting Bitcoin is the lower transaction fees which mean more money into your pocket. That will help your business make more profit and increase your investment for the long-term.
That is a part of business strategies. We have to listen to the needs of the people around us and make several options where it was more convenient for them like using Bitcoin. I really see success in business like this especially if the people already know about Bitcoin and of course, it was supported by the government and legal. The good thing that comes from accepting Bitcoin is the lower transaction fees which mean more money into your pocket. That will help your business make more profit and increase your investment for the long-term.
It was just for now that only a few businessmen offered this and have the courage to duel the market volatility but I see this will grow and more establishments will cater to this option in the near future.
At the moment, I am not a business owner but however, I would 100% accept Bitcoin as payment. I would prefer it over credit cards and offer my customers incentives for them to buy my product or service using Bitcoin.
The good thing that comes from accepting Bitcoin is the lower transaction fees which mean more money into your pocket. That will help your business make more profit and increase your investment for the long-term.
The good thing that comes from accepting Bitcoin is the lower transaction fees which mean more money into your pocket. That will help your business make more profit and increase your investment for the long-term.
It's good having a business in a region where the economy isn't working. Your doing yourself and the people a favour. Unfortunately, bitcoin might not be an acceptable currency in the region and having you to accept them, I hope it won't bring you some admiration from government officials.
It is a huge step to be accepting bitcoin directly as, its got issues with confirmation time and fees not to mention the rates and you too still get to charge for the transaction. That seems so much to bear in just a single withdrawal and not a purchase.
Although, it is an offering of a needed service right.
You just use the card in your dealings.
In that case, making a business certainly will never grow but if it fails, he'd rather accept fiat instead. It is a huge step to be accepting bitcoin directly as, its got issues with confirmation time and fees not to mention the rates and you too still get to charge for the transaction. That seems so much to bear in just a single withdrawal and not a purchase.
Although, it is an offering of a needed service right.
You just use the card in your dealings.
Running a business should be planned so well, likely accepting Bitcoin in a place where it was illegal and no users, you can imagine who gonna buy you stuff with Bitcoin - of course, nothing.
I think OP must have reviewed the place where he runs a business accepting Bitcoin. If that is only an option while still accepting fiat, that is still fine.
It's good having a business in a region where the economy isn't working. Your doing yourself and the people a favour. Unfortunately, bitcoin might not be an acceptable currency in the region and having you to accept them, I hope it won't bring you some admiration from government officials.
It is a huge step to be accepting bitcoin directly as, its got issues with confirmation time and fees not to mention the rates and you too still get to charge for the transaction. That seems so much to bear in just a single withdrawal and not a purchase.
Although, it is an offering of a needed service right.
You just use card in your dealings.
In that case, making a business certainly will never grow but if it fails, he'd rather accept fiat instead. It is a huge step to be accepting bitcoin directly as, its got issues with confirmation time and fees not to mention the rates and you too still get to charge for the transaction. That seems so much to bear in just a single withdrawal and not a purchase.
Although, it is an offering of a needed service right.
You just use card in your dealings.
Running a business should be planned so well, likely accepting Bitcoin in a place where it was illegal and no users, you can really imagine who gonna buy you stuff with Bitcoin - of course, nothing.
I think OP must-have reviewed the place where he runs a business accepting Bitcoin. If that is only an option while still accepting fiat, that is still fine.
It's good having a business in a region where the economy isn't working. Your doing yourself and the people a favour. Unfortunately, bitcoin might not be an acceptable currency in the region and having you to accept them, I hope it won't bring you some admiration from government officials.
It is a huge step to be accepting bitcoin directly as, its got issues with confirmation time and fees not to mention the rates and you too still get to charge for the transaction. That seems so much to bear in just a single withdrawal and not a purchase.
Although, it is an offering of a needed service right.
You just use card in your dealings.
It is a huge step to be accepting bitcoin directly as, its got issues with confirmation time and fees not to mention the rates and you too still get to charge for the transaction. That seems so much to bear in just a single withdrawal and not a purchase.
Although, it is an offering of a needed service right.
You just use card in your dealings.
There is no business now that you can establish and they ask or demand for payment with Bitcoin that people will not be willing to pay with Bitcoin bitcoin is trading currency and it is a currency that is generalize or accepted in any country despite that many control have not accept it legacy in most of the top country but indirectly they are using Bitcoin for business and other transaction payment
It's not a new thing, but what the OP has done has merit because he is contributing as much as he can to the adoption of Bitcoin on a small scale, in his environment. Just because it's not new to the forum doesn't mean it's not good. What I do see is that this happens mainly in less developed countries, mainly African. Well, welcome it.
It is a new thing because some people business but not demand for bitcoin payment. And when you ask for payment with Bitcoin so many of them will not pay with bitcoin because they are against Bitcoin even some foreign countries have never legalize bitcoin or accept Bitcoin the way African countries do accept Bitcoin when you check for the calendar of the most continent that accept Bitcoin it is Africa
[moderator's note: consecutive posts merged]
Many people is making use of POS what is arson I'm some business right now is not accepting bitcoin for any of their business so all these things are not new for the forum because many people has created different kind of similar topic concerning using POS and also using bitcoin for payment of bills in a business so I don't think that is actually a new thing again
It's not a new thing, but what the OP has done has merit because he is contributing as much as he can to the adoption of Bitcoin on a small scale, in his environment. Just because it's not new to the forum doesn't mean it's not good. What I do see is that this happens mainly in less developed countries, mainly African. Well, welcome it.
[moderator's note: consecutive posts merged]
It was sounds good,surely an appreciation from most of the people in this forum.Because we are here in forum from long and unable to start the business using the bitcoin as the payment.But I suggest you to sell the getting bitcoin on the same day.If you don’t demand on that bitcoin,you can hold it for the long period as long as possible one.Because the price of bitcoin will increase to the maximum with the long period of time.
Many people is making use of POS what is arson I'm some business right now is not accepting bitcoin for any of their business so all these things are not new for the forum because many people has created different kind of similar topic concerning using POS and also using bitcoin for payment of bills in a business so I don't think that is actually a new thing again
It's not a new thing, but what the OP has done has merit because he is contributing as much as he can to the adoption of Bitcoin on a small scale, in his environment. Just because it's not new to the forum doesn't mean it's not good. What I do see is that this happens mainly in less developed countries, mainly Africa. Well, welcome it.
Good decision, but you have to be very careful the type of people you employed in your POS business, because it's very easy for your employees to empty your bank account, if you don't dedicate more time with them in the business. Try to avoid night transaction, because that is the hours many bad guys that have ideas on digital currency use to carry out their fake transaction that will run your business down or use their weapon or tools to withdraw everything from your wallet or bank account. I think, you will definitely achieve something good from this business because many people that are into this type of business are doing well in the community.
I agree with you, that it can happen because it requires a trusted person, for example from relatives to help process the delivery or the transaction process, because if you hire someone you must definitely test the honesty of that person, so that your funds are not misused or manipulated by unscrupulous persons. irresponsible..
Good decision, but you have to be very careful the type of people you employed in your POS business, because it's very easy for your employees to empty your bank account, if you don't dedicate more time with them in the business. Try to avoid night transaction, because that is the hours many bad guys that have ideas on digital currency use to carry out their fake transaction that will run your business down or use their weapon or tools to withdraw everything from your wallet or bank account. I think, you will definitely achieve something good from this business because many people that are into this type of business are doing well in the community.
Many people is making use of POS what is arson I'm some business right now is not accepting bitcoin for any of their business so all these things are not new for the forum because many people has created different kind of similar topic concerning using POS and also using bitcoin for payment of bills in a business so I don't think that is actually a new thing again
It's not a new thing, but what the OP has done has merit because he is contributing as much as he can to the adoption of Bitcoin on a small scale, in his environment. Just because it's not new to the forum doesn't mean it's not good. What I do see is that this happens mainly in less developed countries, mainly African. Well, welcome it.
It's not just an old act, it's not a big deal either. But we, bitcoiners, always say we want bitcoin to be widely used, want to be paid in bitcoin every day, want bitcoin to be the world currency. But how many people have done anything to make bitcoin more popular?, very few I believe, so OP's action is really commendable and motivating for us to continue to make bitcoin more popular more popular. today we are not alone anymore, bitcoin is popping up everywhere. Just join hands, each person contributes a small part, bitcoin will soon be known and used by everyone in the world.
Many people is making use of POS what is arson I'm some business right now is not accepting bitcoin for any of their business so all these things are not new for the forum because many people has created different kind of similar topic concerning using POS and also using bitcoin for payment of bills in a business so I don't think that is actually a new thing again
It's not a new thing, but what the OP has done has merit because he is contributing as much as he can to the adoption of Bitcoin on a small scale, in his environment. Just because it's not new to the forum doesn't mean it's not good. What I do see is that this happens mainly in less developed countries, mainly African. Well, welcome it.
Great initiative. I have to say it's a win-win situation for both. You can make some money also your customer would take advantage of quick cash out instead of hassle. Although it's a good initiative but always make sure the transaction is confirmed before cashing out. There is a risk involved in double-spending. Train very well your salesman, so they won't make mistakes.
Yes, If OP conduct that business by him self, then there is no problem. And if op are hiring someone else, he will have to give some basic knowledge like receiving or sending a payment. So that the transaction will not wrong. There is an advantage, the money that is fixed for the product or service can be paid instantly.It was not that the crypto business is quietly growing this time since more and more people had already about this and much more gaining interest from the community.
I am impressed getting to know that some POS now accepts Bitcoin as a means of payment in exchange for fiat note in Nigeria, and as an experienced person who has done many physical BTC/Fiat transaction with people, I will love to advise that there will always be challenges in regards to delay in confirmation of Bitcoin transaction, but it always goes through in worst case scenario, but in a case whereby a customer claims to have sent BTC and not yet reflecting in your wallet, all you have to do is check it on Blockchain.com/BTC explorer using your wallet address, as it will show an overview of all transactions both confirmed and unconfirmed transactions
Sending each blockchain network actually get delay with bitcoin about 30 minutes until several hours later depending how busy with blockchain confirmation, I have little ideas for OP maybe could adopt and use all exchange market global with his costumer could sending trough lightening network or sending by ID of exchange market account. All costumer not happy with delay transaction exactly what problem faced by OP because need to clear confirmation waiting until 35 minutes later for delay. By adapting send bitcoin assets trough exchange market become faster and instant without few second transaction have been arrived on the destination wallet sender. Not have reason how to manipulated with blockchain transaction exactly when sending bitcoin, OP can see with transaction history and open blockchain to know how many confirmation need before transaction success.
The second I stated reading the OP, I was convinced OP was Nigerian. Nigeria is an over populated country, comprising mostly of the Middle class with its citizen looking out for means to earn scares ends and feed there families. The POS business has become one of the least business one could take up with at least $200 and hope for some profit to meet up some of there daily needs. Hence, its a highly competition one and you've got to offer more to keep up with the competitionand patronage.
The only legal risk here is that CBN do not tolerate bitcoin p2p transactions. Knowing how the POS business in Nigeria works, I don’t think it’s going to be a profitable venture. The major reason why customers patronize pos shops is for convenience and quick service compared to using ATMs. I believe your staff doesn’t have access to your wallet, only you do. So they have to contact you somehow to confirm the transaction. 35 minutes is a long time to spend trying to withdraw money at a POS centre.
I agree with most of what you've stated with time and all that but let's not forget, as much as most persons wishes to meet up with time by using this service, some crypto investors aren't inclined enough or maybe just scared to work the exchanges and cash out naira to there local banks. Hence, they sort such services in individuals and hopes for a better rate too. Have encountered a few and helped out when I could. 
I just Opened the business on 1st/September/2022 and on the 2nd/Sep/2022 I was surprised to receive a call from my employee that a customer wants to take #18,000 (Nigeria Naira) and pay in Bitcoin, I did the calculation and added $3 fee for my business charge and sent the details across and the customer sent 0.00155 BTC. I asked my employee to give cash to the customer when she confirms the transaction is processing, so the customer initiated the transaction and receive the cash he needed.
It took over 35 minutes before the transaction was finally successful and arrived in my wallet. Due to the delay, I started thinking 🤔 its a scam but I was also convinced that it might be a congestion in the Bitcoin network.
It took over 35 minutes before the transaction was finally successful and arrived in my wallet. Due to the delay, I started thinking 🤔 its a scam but I was also convinced that it might be a congestion in the Bitcoin network.
I am impressed getting to know that some POS now accepts Bitcoin as a means of payment in exchange for fiat note in Nigeria, and as an experienced person who has done many physical BTC/Fiat transaction with people, I will love to advise that there will always be challenges in regards to delay in confirmation of Bitcoin transaction, but it always goes through in worst case scenario, but in a case whereby a customer claims to have sent BTC and not yet reflecting in your wallet, all you have to do is check it on Blockchain.com/BTC explorer using your wallet address, as it will show an overview of all transactions both confirmed and unconfirmed transactions
Great initiative. I have to say it's a win-win situation for both. You can make some money also your customer would take advantage of quick cash out instead of hassle. Although it's a good initiative but always make sure the transaction is confirmed before cashing out. There is a risk involved in double-spending. Train very well your salesman, so they won't make mistakes.
Yes, If OP conduct that business by him self, then there is no problem. And if op are hiring someone else, he will have to give some basic knowledge like receiving or sending a payment. So that the transaction will not wrong. There is an advantage, the money that is fixed for the product or service can be paid instantly. The legal status if is banned then its problematic for you because the government will take actions to curb your activities despite your efforts so make wise moves as when you have open business then you are under surveillance by the authorities so keep all things in mind.
But it's really appreciable that you have opened up new business accepting btc giving customers a new opportunity to pay through this medium but are there sufficient customers paying in it ?
Only few might be interested at first but it will sure give their Area an idea that it does exist and that they are capable of accepting BTC as payment. Though in mu country now the adoption when it comes in paying using crypto lesses since many regretted that they use it before to pay for their online shopping and to load their mobile that when the price of BTC pump they didn’t have any holdings. So people I knew before who tends to use crypto to buy load or pay online plans now to accumulate more as investment than to use it in their spending.But it's really appreciable that you have opened up new business accepting btc giving customers a new opportunity to pay through this medium but are there sufficient customers paying in it ?
I've done the same mistake on spending my bitcoin in the past on such bills and prepaid loads. I regret it and I won't be doing the same mistake again.
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