Topic: I want to place advert for my customers to fit pay me with bitcoin. - page 2. (Read 343 times)

Weda CBN ban cryptocurrency, dem no recognize or dem no approve am, for our banks to de do di exchange, so far say alternative means de  like P2p and other exchanges like Binance de, for me dat one no be plenty wahala.

I personally no know anybody wey de do business and dem customers dey pay dem with bitcoin, but I know say dem de out there. For now na for only dis forum I de get authentic information about cryptocurrency matter.

No dulling for business matter, I de make sure say I receive alert first before supply, except say na old customers wey be say I don build trust relationship with dem.

Na true say bank them no like bitcoin but na based on say  their various government hold Dem to stand still not to take part in anything Crypto transaction and e be say as the financial institution of their various countries, them gat obey naim make you see say Dem dey lie low for bitcoin matter. Believe me you, some bankers dey run Crypto parol wella. 
 So in that case me I believe say  Dem gat follow the the laws wey govern them not to fall victim or face sanctions l of revoking their license.

To be frank with you banks benefits hugely from Crypto transactions as at then when  there was no restrictions on them but since the order came from above they had to obey.

No go ahead bro, because EFCC or police will use u shine in that your area by coming to you to tell you that you are doing illegal business in the country. And you know that our security agencies are use to BTC in the country, and whenever dey see BTC users dey always feel he or she is a billionaire and dey will not like to hear story from you by telling them that you just newly start the business. Well, I have hope on dis new government, because during the campaign the president elect promise to legalize crypto, Blockchain technology to ensure the citizens experience positive digital business around the country, which you need to exercise patience for the president to pronounce BTC legalize tender before you can start such business in the country.

From di discussion so fa on dis topic, e de clear say na for me and customers wey come buy goods for my shop go fit do bitcoin and goods exchange. No need for social media advert on di matter, only physical customers wey get bitcoin to exchange for wetin dem wan buy. Anyway I go de take style de tell my customers say I de also accept payment with bitcoin. Hopefully with better luck di coin value go even de appreciate for my hand.

Di only coma be dis transaction fees, so no be every product I go de advertise to receive payment with bitcoin, only di more expensive and profitable ones.

Na good initiative be that. No let government talk talk discourage you, normally all over the world banks no like bitcoin because them dey see am as their competitor so you no expect them to dey talk good about bitcoin. AFAIK Nigerian government no dey against bitcoin, I no even sure say them don get one particular position about cryptocurrency for Nigeria everybody just dey do their thing. I go say make you follow this your idea, nobody go worry you.

Dis CBN nd crypto ban matta don tay na nd as dem tak release dat statement dat tym, na so dem later release d one way counter ram say, no b ban dem ban bt rather, dem no recognise or approve am. Na so i tak remember am.

U fit stil go ahead if na watin dey ur bodi bt, mak u ensure say u do ur assignment wel. Mak u no limit am 2 dis thread. Try ask pple way dey in2 d system hw dem dey do am, how dem dey tak avoid lose nd mak sure say, dem fit do account mak e balance nd on profit.

One tin way I go updat u b say, if u eventually start,ensure say wen ur customers run u transfer, d transaction get at least one confirmation on top b4 u allow dem commot.

As it stands now, e no dey advisable for small business dem to dey run bitcoin for payment because the fee alone na wetin dem fit use do another investment for their business and in that case, that option of payment no go dey encouraged at all unless na freelance work person dey do wey e be say na just to transfer him pay to am without any stress or the commodity dem wey person want to pay for money dey reasonable in thousands naim person fit talk say dem dey accept bitcoin for payment.

E no be bad thing say make naija guy dey run him biz and collect him pepper via bitcoin but the thing be say we suppose really understand say no be about using the payment system of bitcoin but na to understand the reality say if you hodl btc for your wallet,  the thing fit increase or reduce, that na the fluctuation. We need to prepare about that and to know the kind of business wey det involve. Like now small businesses no go good for bitcoin because the fees go make customer's to dey discouraged.

There is no law in Nigeria that the citizens should not use bitcoin. CBN only tell banks not to do any transactions with bitcoin and not individuals  so you can do your things. If anyone dey there to pay u bitcoin collect am and na so small small u go dey do until u go get plenty customers wey go pay you bitcoin through selling and buying.
Since when this happens I never hear or see any law enforcement agencies harassed any bitcoinners in we country. If really piple pay goods with bitcoin oboy I go sell that thing wotowoto. I no go even fear sae government go come dey harass me. But I go dey do am with coded way.

I will advise you for more safety to your business and self, don't make a public declaration that you're accepting bitcoin for making payments in other not to attract the attention of the government agencies on you, knowing that the government have made it illegal for banks to use bitcoin as a medium of payment or perform any related transaction with bitcoin, but in your own way, you can privately make a discussion of that with your customers who are into bitcoin or who preferred making use of bitcoin for payment, just stay away from government threats on this.

Who be CBN to ban Bitcoin? CBN only ban their people dem wey be banks to no dey transact with Bitcoin and besides that one na past government na, dem dun commot the previous CBN governments from office so things supposed dey straighten up soon although I no think dem go unban banks from interacting with Bitcoin directly. Wetin this law means say you no fit buy Bitcoin or sell Bitcoin to your Banks. Why them come out with the law na dat time wey rumors been dey say some banks wan dey offer crypto exchange services. You fit run your business nothing concern CBN with wetin you dey do with your business. Nigeria never ban Bitcoin, na unless Tinubu come out to announce say all Bitcoin transaction are illegal na when you go dey reason to stop dey accept Bitcoin.

You know how many businesses are operating officially for Nigeria wey dey involved with Bitcoin, your own no go different. Run your matters on the low avoid social media sha make e just be decentralized exchange between you and your customers because if you carry am go online and law enforcement agency see am dem go wan use you chop. Tax collectors go begin reason you and EFCC as well. You know Nigerian no dey like see person progress, na so dem go begin badmouth yout business wey go come dey attract unnecessary attention wey no go make sense for your business so I go advise you run the mata offline and make your cutworms donthe marketing for you when dem get better services from you.

Infarct you make valid point wey I reason say e make sense, a trader need to consider transaction fees of di product wey im want to sell. Because If di customers want to pay with bitcoin, di fees fit to scare dem away. If high fees be barrier for small businesses to accept payment in bitcoin, den di acceptance of di coin for grassroot no go de easy, because why customers go want to pay more for di same commodity with cryptocurrency, wey dem fit to easily pay less pay with fiat.

Wat if na goods wey de above 20k and above, di transaction fees suppose de go lower and lower? Abeg, no mind say de ask like newbie, I never transact am before, dat na why I want to get every minor details, so I go know weda I go do di payment in bitcoin advert or not.

Na good thing to integrate other means of payment for your business like Bitcoin but before you do that you  go consider other factors like which type of service you dey render or goods wey you dey sell. If na petty goods you dey sell then the idea of using Bitcoin to receive payment fit no make sense at the moment because of high transaction fees. Your customers no go really like to buy goods of N2000 or N3000, come pay almost the same amount or more for transaction fees except you go use lightning network. But in all no be bad idea sha as e come dey help to create awareness and promote mass adoption of bitcoin.

OP I like your idea of accepting bitcoin as a means of payment. This has been amongst the reasons why we are here. Creating awareness and promoting the adoption of bitcoin is one of our major goals. So far, there have been lots of enterprises from our local board here that are accepting bitcoin payment for quite sometime now and it has been positive and remarkable.

I will like to call your attention to what you have said OP  "so why I bring dis topic here say make una follow chuk mouth for inside di matter be say as CBN still ban cryptocurrency, ". Do not get things mixed-up OP. CBN never banned Crypto currency in Nigeria, they only restricted the banks from carrying out Crypto related transactions or payment. To the best of my knowledge, p2p platforms do exist on exchange and other forms too were Nigerians have been doing transactions but the truth is that nobody wants to identify publicly to be doing Crypto transaction  for the fear of the unknown but rather choose to remain silent doing things with Crypto and bitcoin. Everybody is just careful not being the scapegoat by the efcc and others.

Na better idea be this oh my brother, but truth be told, for anyone to consider either to receive Bitcoin as payment for goods or services, eh depend on how much stuff her or she dey sell or buy, because due to transaction fees and other charges, bitcoin no be the best payment medium for small scale businesses, wey wetin you dey sell na stuff between the range of #200 to #4000, but if wetin you dey sell na stuffs between the range of like #5k, #10k and above, then you go fit use Bitcoin & no wahala.. Because the aim of every business man is to minimize cost and maximize profit.
But when it comes to the issue of placing advertisement, I will highly recommend you can put it in your shop, social media bio, or whatsApp status telling your customers that while you accept fiat, you also accept Bitcoin for payment.

I be business man wey de into buying and selling, and na normal tin say wen customers buy di goods wey I de sell dem go pay with our fiat currency wey be naira. But since wey I don enter dis bitcoin, I de always reason weda make I advertise say my customers fit to pay for di products wey dem buy for my shop with bitcoin. So why I bring dis topic here say make una follow chuk mouth for inside di matter be say as CBN still ban cryptocurrency, weda e still make sense say make I go ahead and advertise to my customers and on social media say dem fit to make payment to me with bitcoin?

I know say di primary purpose of creating bitcoin na to take make digital payments for transactions anywhere in di world. I like as di coin de decentralized, so na im make I want to key into dat original purpose, based on say na wetin I de inside. But at di same time, I no know weda I go break di law, if I give my customers di option of paying me with bitcoin, because of di CBN ban?