I started business many days ago. Now it's time to accept Crypto as a payment. - page 2.

Falconer

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Quote from: ChiBitCTy on August 16, 2022, 11:12:52 AM

I absolutely love every time I see someone post here about starting to accept and utilize bitcoin as a payment option for their business. This is the exact type of thing that we need more of an need to continue doing in hopes of making bitcoin a legitimate world wide currency. Well done OP!

Making bitcoin a legal currency recognized by governments around the world is the most impossible thing right now even in the long term. I can't expect that to happen, but if 50% of the countries in the world have reached an agreement to legalize it then I think this mindset will change later.

It is clear that the adoption of bitcoin as a means of payment in small or large businesses can help bitcoin achieve its function as a currency. But price volatility is always in question so some of them will probably have the dominant payout for stabilcoin, not bitcoin in fact. But im happy with the adoption efforts the OP is making on his current business.

hZti

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Magic

Quote from: ChiBitCTy on August 16, 2022, 11:12:52 AM

I absolutely love every time I see someone post here about starting to accept and utilize bitcoin as a payment option for their business. This is the exact type of thing that we need more of an need to continue doing in hopes of making bitcoin a legitimate world wide currency. Well done OP!

it is the same for me and what I would also hope that we can have some updates on how many people pay with bitcoin and what percentages of the overall customers that is. To me it would not even be bad if it is not a lot, but I would like to see in what countries and what business models bitcoin already works.

Die_empty

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Quote from: ChiBitCTy on August 16, 2022, 11:12:52 AM

I absolutely love every time I see someone post here about starting to accept and utilize bitcoin as a payment option for their business. This is the exact type of thing that we need more of an need to continue doing in hopes of making bitcoin a legitimate world wide currency. Well done OP!

It also gladdens my heart to see that people painstakingly taking Bitcoin services to the next level. At first the business might have some transactions or administrative issues in the course of accepting Bitcoin payments. But with time the services would become cheaper and better. Welldone OP for introducing Bitcoin to your business and ensure you read and apply the advice you have received from this thread.

ChiBitCTy

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I absolutely love every time I see someone post here about starting to accept and utilize bitcoin as a payment option for their business. This is the exact type of thing that we need more of an need to continue doing in hopes of making bitcoin a legitimate world wide currency. Well done OP!

tjtonmoy

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Quote from: dezoel on August 15, 2022, 01:25:21 PM

I would guess that it would help you if you wrote it down as well, instead of just QR code. I get that "pay with crypto anywhere" is a good one, but under the QR code you should write "btc address" or something like that to make it clearer. I understand that you may think "what else could it be" to yourself, that’s understandable, but you are underrating the stupidity of the people.

I have worked in many small business jobs before and as an employee I was the one who had to deal with stupid customers and I can tell you that there are a million of them out there coming through the door everyday. Hence, make sure that it is as clear as possible for them to understand what it is.

it will become clearer to you, if you just scan the QR code. It's not a single address but also with the brief that contains the pay ID from binance and under that there's the BTC address. Hope it's clear now.

tjtonmoy

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Quote from: dezoel on August 15, 2022, 01:25:21 PM

I would guess that it would help you if you wrote it down as well, instead of just QR code. I get that "pay with crypto anywhere" is a good one, but under the QR code you should write "btc address" or something like that to make it clearer. I understand that you may think "what else could it be" to yourself, that’s understandable, but you are underrating the stupidity of the people.

I have worked in many small business jobs before and as an employee I was the one who had to deal with stupid customers and I can tell you that there are a million of them out there coming through the door everyday. Hence, make sure that it is as clear as possible for them to understand what it is.

If they scan the QR code it's written in there
Binance pay id : ******
BTC wallet address : *******
So i'll be present there in the time of transaction. so i can explain in person what to do. Other wise there's the traditional money transaction in cash. So no problems there.

tjtonmoy

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Quote from: inthelongrun on August 15, 2022, 09:15:32 AM

+88 means you are from Bangladesh? And bitcoin and other cryptocurrencies are not legal tenders in Bangladesh. Or do you mean that it is still called exporting even if you are selling them within your country?

If you are selling rice within your country and accept crypto payments then perhaps it won't be a problem and I salute you for that. Unless rules are very strictly implemented like in my country. But you better be extra careful sharing it in public because either the authorities will catch you soon or corrupt officials will ask for bribes.

Exporting rice to other countries with crypto payments will be very risky as proof of payments will be needed during an audit.

I am exporting from my town to whole country. Not to the world. Maybe you understand it wrong. And here's your answer on legal and illegal facts
https://bitcointalksearch.org/topic/m.60752789
i have explained it in this. please read it.

CryptocurencyKing

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Quote from: dezoel on August 15, 2022, 01:25:21 PM

I would guess that it would help you if you wrote it down as well, instead of just QR code. I get that "pay with crypto anywhere" is a good one, but under the QR code you should write "btc address" or something like that to make it clearer.

When it comes to cards and poster means of publishing an address, the QR code always goes. Yeah, it might look as though you having all public informations spelt out in the various forms they could represented or presented is the best form of idea but, your going to put your customers at risk of a wrong address or time wasting in getting to type the Alphanumeric nature of the address just right.
One little mistake and you might end up sending the coin to either a wrong address or you would have come up with a non exiting address and the transaction fails to go through.

Here, you get to waste a lot of time, trying to be accurate, doing it wrong and trying again.

When it comes to QR codes, you just get to scan and the accuracy isn't in doubt. You input other details like amount and fees then send and its gone.

It's great news your utilising the knowledge you've acquired and in turn, preaching btc in your little way. I encourage that.

BobK71

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Nowadays youngsters are ready with cryptocurrency. As soon as they can legalize crypto they will be able to use Bitcoin in all kinds of business all over the world. The only demand of the people in the world is that they can freely use their precious resources freely. They want to use their crypto as global payment method.

dezoel

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I would guess that it would help you if you wrote it down as well, instead of just QR code. I get that "pay with crypto anywhere" is a good one, but under the QR code you should write "btc address" or something like that to make it clearer. I understand that you may think "what else could it be" to yourself, that’s understandable, but you are underrating the stupidity of the people.

I have worked in many small business jobs before and as an employee I was the one who had to deal with stupid customers and I can tell you that there are a million of them out there coming through the door everyday. Hence, make sure that it is as clear as possible for them to understand what it is.

pawanjain

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Quote from: tjtonmoy on August 11, 2022, 04:52:40 AM

I started a small business on exporting rice in my town. It's been several months and everything is going well.
All my customers are happy with the service. So to make things a bit more interesting, I've decided to accept crypto as a payment method.
I have designed this business card of mine, and I'll be handing over this to my customers.

In the beginning, I have decided to stick on Binance pay, and BTC payment.
The BTC address is in the QR code on the business card, and also with the PAY ID for Binance.
Universal token transaction will be done through pay ID and BTC could be transferred too.
For those who want to pay with other method, can choose BTC address.

snip

I gave it a good thinking and have implemented this in my business. So I want to know you guy's opinion in this.
Feel free to suggest me more secure options and how to improve this.
Thanks a lot in advance.

It's great that you have decided to accept crypto as a payment but keep in mind about the taxes that you will have to pay for those payments and also verify if crypto can be accepted as a payment method in your country.
You wouldn't want illegal payment issues coming to your way. Also, you haven't mentioned anywhere on your card about the cryptocurrency that is being used.
Do mention that only bitcoin should be deposited to this address otherwise the funds be lost.

Mpamaegbu

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Quote from: tjtonmoy on August 11, 2022, 04:52:40 AM

The BTC address is in the QR code on the business card, and also with the PAY ID for Binance.

I think restricting the address to the QR code will even make it more difficult for your customers as it's not all will know how to scan except you want to tell us that those who will be paying for your goods with BTC are tech savvy.

Quote

[Note: Information is blurred out for personal reasons.]

I'm still wondering what that personal reason is since your business should be in public domain.

inthelongrun

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+88 means you are from Bangladesh? And bitcoin and other cryptocurrencies are not legal tenders in Bangladesh. Or do you mean that it is still called exporting even if you are selling them within your country?

If you are selling rice within your country and accept crypto payments then perhaps it won't be a problem and I salute you for that. Unless rules are very strictly implemented like in my country. But you better be extra careful sharing it in public because either the authorities will catch you soon or corrupt officials will ask for bribes.

Exporting rice to other countries with crypto payments will be very risky as proof of payments will be needed during an audit.

alik111

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I appreciate at your decision about receiving Bitcoin and Binance pay as a payment method in your business. I could suggest that you should accept more top coins like Litecoin, Ethereum and many others.

tjtonmoy

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Quote from: Zanab247 on August 15, 2022, 03:35:37 AM

This is a welcome development, if the government in that particular country made Bitcoin lega for business men, but if Bitcoin is not legalized in that country, I will advice you not to accept Bitcoin as a payment because it will make you to lose more customers that doesn't have ideas on Bitcoin. If Bitcoin is fully legalized in that country, I will advice you to spread the news on different social media platform that you have started accepting bitcoin in your rice business which will really make Bitcoin users to locate you easily to purchase rice from you and pay with Bitcoin.

it's a startup, I do have the traditional payment method. This is the additional option. Whoever wants to buy with crypto, they can do that. Otherwise, money will be used.

Jeger.Kiting

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Quote from: tjtonmoy on August 11, 2022, 04:52:40 AM

I started a small business on exporting rice in my town. It's been several months and everything is going well.
All my customers are happy with the service. So to make things a bit more interesting, I've decided to accept crypto as a payment method.
I have designed this business card of mine, and I'll be handing over this to my customers.

In the beginning, I have decided to stick on Binance pay, and BTC payment.
The BTC address is in the QR code on the business card, and also with the PAY ID for Binance.
Universal token transaction will be done through pay ID and BTC could be transferred too.
For those who want to pay with other method, can choose BTC address.

[Note: Information is blurred out for personal reasons.]

I gave it a good thinking and have implemented this in my business. So I want to know you guy's opinion in this.
Feel free to suggest me more secure options and how to improve this.
Thanks a lot in advance.

I think your idea to run this business is very good, especially in the payment to buy rice where you can use crypto will make your business more advanced in the future. But I just suggest never use an exchange address to store the assets you own, even if it's the exchange you mention looks good, because if the exchange has a problem surely all your funds there will crash and become a problem, because it all has to be resolved and requires not a short time. But it's all up to you I'm just giving advice.

Zanab247

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This is a welcome development, if the government in that particular country made Bitcoin lega for business men, but if Bitcoin is not legalized in that country, I will advice you not to accept Bitcoin as a payment because it will make you to lose more customers that doesn't have ideas on Bitcoin. If Bitcoin is fully legalized in that country, I will advice you to spread the news on different social media platform that you have started accepting bitcoin in your rice business which will really make Bitcoin users to locate you easily to purchase rice from you and pay with Bitcoin.

xSkylarx

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Quote from: AbuBhakar on August 14, 2022, 12:38:36 PM

Quote from: ?? on ??

Many people have done this systematic of using cryptocurrency as a means of payment and some months ago someone testify using it to it business so I believe that an incoming that cryptocurrency will be use generally for the purpose of building of business transaction across many countries. Because right now cryptocurrency have not been use in a such way.

It still depend on the adoption of where we lived in, I also have online business and posted ways to pay like thru bank and option of BTC payment since there are applicable apps in my country that have mobile app for crypto and btc, but still many choose mobile banking. I still include it in my list of ways to pay even if there are no customers again who uses it for a long time. Soon maybe once there are known establishments like a mall that accepts bitcoin in my area that probably the time many will think of it as a payment medium. For now it's more of a investment or for trading currencies here in my country.

Many countries are still skeptic about bitcoin and cryptocurrencies so citizens there are still afraid to use and learn about it. Add to that is the stereotype of bitcoin being used by criminals to their bad intention making the majority of people not use it.

Even if many countries don't acknowledge yet the use of crypto, the good thing for me about it is business adapted to digital form of payments unlike back in the days where you really need to pay directly on their establishment using fiat.

tjtonmoy

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Quote from: bigjuk on August 14, 2022, 12:00:41 PM

Do you accept Bitcoin payments in small amounts, I mean if someone buys a sack or half a sack of rice, do all of your customers know Bitcoin/crypto.

Broadly speaking, your business is good for accepting crypto payments, but you must also consider the risk of the Bitcoin price, so that you don't experience losses when bitcoin drops after making rice transactions.

I also have binance pay ID included for small amount transfer as well as other crypto [mostly stable coins]. So BTC price impact won't trouble much, I guess. Let's see what the future holds. I'm still in the early stages and before handing those cards to my customers, I posted here to learn all this information. And it is very helpful to learn from you guys.

AbuBhakar

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🇵🇭

Quote from: ?? on ??

Many people have done this systematic of using cryptocurrency as a means of payment and some months ago someone testify using it to it business so I believe that an incoming that cryptocurrency will be use generally for the purpose of building of business transaction across many countries. Because right now cryptocurrency have not been use in a such way.

It still depend on the adoption of where we lived in, I also have online business and posted ways to pay like thru bank and option of BTC payment since there are applicable apps in my country that have mobile app for crypto and btc, but still many choose mobile banking. I still include it in my list of ways to pay even if there are no customers again who uses it for a long time. Soon maybe once there are known establishments like a mall that accepts bitcoin in my area that probably the time many will think of it as a payment medium. For now it's more of a investment or for trading currencies here in my country.

Topic: I started business many days ago. Now it's time to accept Crypto as a payment. - page 2. (Read 972 times)