Topic: I want to place advert for my customers to fit pay me with bitcoin. (Read 346 times)

I reason wetin most of una talk because as I see am most people wey adopt bitcoin for Nigeria, na mainly for di purpose of trading or investing di cryptocoin, no be to use am as a means of payments. Di reason why many bitcoin holders no de use am make payments fit be because of di CBN ban, others fit be because dem no wan attract di attention of police and EFCC to dem sef, because of di experiences of harassment wey dem de give young people wey de use am.

After wey I start dis thread, I still go ahead to put small banner in front of my shop say customers fit pay with bitcoin, aldo since wey I put di banner, till now no body don pay with bitcoin. And I never get any harassment yet from anybody about di bitcoin advertisement. I no really get any fear because I know say bitcoin no de illegal for Nigeria.

E no bad for the topic wah you bring up here make we follow put mouth on it. because our work here is to make BTC popular. but you no say , for our country here . government done say make Banks no dey allow make country people use BTC as a means of payment. so going back to it with your customers, you are risking your business. by Lossing customers because BTC is not generally used in this country. I for advice you make you continue your business with our Fiat currency. to avoid attracting government eye to your business.

Well, I don't have much to say, but I strongly believe that in this country, Nigeria, there are a lot of people, both celebrities and upcoming celebrities, ordinary men, who know about bitcoin investment which both of you already know, so what I will say is that nowadays, investors are not ready to spend a bit of their coins because every investor is expecting the bullish season sooner.

I know if any of you see a place where Bitcoin is accepted as payment, you both can not use a little of your coins to purchase anything, instead, you both use your Fiat currency to pay.
So, guys, if the OP is planning to advertise his goods with him accepting BTC for his business, allow him. Besides, the world is a very big place and that's why we need to advertise our products. We don't know who might need them, even if they don't pay with Bitcoin. They might need his goods or services.

Em op you know say this strategy fit no too balance if the goods or service u dey render dey cheap or low priced as bitcoin dey too volatile e fit affect your customers instead carry stablecoins take run am since this one price dey gidigbam for market e no too dey volatile like that . Then from there u fit coke dey introduce bitcoin to them .And this your plan go also help increase Nigerians for our local board cause na her you to tell them make them come learn this bitcoin wey dem Don dey hear since.

To accept country for this kind country, you wan just cast yourself, you forger say our government be don put ban for cryptocurrency, no forget say if them noticed because OP de call attention to himself, na so dem go seize everything concerning e business, dem go even accuse am of embezzling governmental resources, be like you no no as this country worst. Na why anything you de plan to do or you de do, just keep am lowkey, make no body no weytin be your next move. Your customers self, no b all of them you go tell, because people sabi talk oo.

Merit.s why you dey tok as if you no be Nigerian. U dey tok sae nobody get right, den why banks obey the CBN order for not accepting cryptocurrencies in their commercial business? Merit.s if Nigerian government can ask Banks to stop cryptocurrency transaction, they can control any other central exchange platforms. U never hear sae , police dey disturb people wey dey use bitcoin in pH. Person don tell me sae police dey worry well well. Dem go tell you sae, government don stop bitcoin so why you dey use am. And in BY if police find out sae you get bitcoin, my broda dem go drain your wallet.

OP, nobody get right for Nigeria to tell you say make you no accept or use bitcoin because na we dey carter for ourselves. Government abandon their work wey be to take of citizens,come dey thief our money. Bitcoin in business will add more advantage to your sales because you accept varieties of currency. My only advise as Brainboss talk put am on the low,anything to put am for social media say you dey accept bitcoin no make sense. Tell only your customers wey you fit contact. You no go regret am,if you take this bold step. You to also understand say bitcoin na volatile currency, he go better if you know how to do so that you no go run into loss because bitcoin no be like stable coins.

It may be a good idea since u have decided to start Bitcoin trading in your business. It's good if u advertise your store with bitcoins for buying and selling products. But you must consider the case of transaction free if it is not considered appropriate to buy a product if the transaction free takes more than that. Bitcoin transactions are particularly challenging for small businesses due to high fees that can cause losses. But I think it would be a good thing if more expensive products accepted payment by Bitcoin. Since u personally pay customers in Bitcoin it is your choice so it would be great to discuss with those who are interested in paying Bitcoin.

Na offline advert sure pass o. You go feel say FG no put eye for your matter until them go ask you to file tax returns as requirement for you to continue your business operations.
For this country, most business operations mostly if you use crypto, should be between trusted persons with whom you may have done business transaction with.
Nobody know who be spy these days.

It's a good idea though, but the medium to convey the information matters.

Na normal thing be that wey we supposed do if we get business and e happened say people wey dey around us know about nd dey use am, the best na to introduce am give them to start making use of that opportunity I know say cbn no go be anything since e be say we fit still trade on p2p.

You have to do some researches about the work, if it's legit or not but sure there's work that pay with Bitcoin.

Yes, na better talk you just yan there my guy, because apart from mere talking about accepting Bitcoin as a means of making payment for goods or services, there are some other things O.P need to understand before he begins, such as;
1. What if after someone have already send you Btc and after few minutes to an hour he hasn't gotten the fund in his wallet, what is he going to do?
   (i) Is he going to allow the buyer go with the goods hoping to receive deposit?
   (ii) Is he going to ask the buyer wait until he receives deposit? Or,
   (iii) Or does he know how to check if a transactions is waiting for confirmation or confirmed using Blockchair explorer? Which I think is best option to be done in situation like this.

2. What if after receiving payments for a goods or service rendered and then after the price of Bitcoin fall drastically on the day he was to go buy more goods. Is he ready and willing to bear such risk?

Because those are the two questions he just need to answer to know if he is truly ready to accepting Bitcoin for his business.

Before peso go start up any business or introduce any payment method for em business em get some certain wey em need to consider before em start am. Whether the place wey em business dey so wetin d go dia, if em introduce any new thing for em business whether em go work for am.

Having said that, introduce Bitcoin payment for your business dey okay, but make you no forget sae, no be all Nigerians go like pay with bitcoin for things wey d buy for your hand. Majority go prefer pay with fiat instead of bitcoin due to high gas fees

Accepting it is not a problem though but customers too would be glad there are other means of payment the vendor accepts and if they deem it fit to pay through bitcoin that's a welcome development as well too because it would be ok for them to do and at their own convenience. The bitcoin option of payment I believe is not compulsory neither is it mandatory to do but of choice and willing to if you have.

Although the banks frown at Crypto but there are  p2p outlets ready to transact so one should not be in a panic mode as to where to sell his or her bitcoin after accepting it as a mode of payment.

The thing is that,  accepting Bitcoin or any other coin of your choice in your business is ok as an alternative mode of payment, but the limitation is in your customer's reaction because a good percentage of Nigeria citizens are either unaware of Bitcoin or don't even know how to make a Bitcoin transactions talk more of them using it as a daily spending currency.

Accepting cryptocurrency in business is not an easy thing and how to sustain it in a region where bitcoin and other cryptocurrencies are seen as a threat to the banking sector like Nigeria

Na nice ideas as plenty people never start to dey accept bitcoin for our country, maybe na because awareness never too dey or maybe people dey fear because of bitcoin volatility, but if you wan run your own na nice idea ooo. You dey fear say CBN don ban crypto for our country, but even CBN no understand themselves, and even if CBN ban bitcoin, e no go stop you make you no run your thing, You think say CBN go even notice your business not to talk of say you wan get problem with them, if you wan accept bitcoin make u dey accept am ooo, no allow CBN policy discourage you ooo. And na formal CBN governor carry d policy come, him don dey DSS hand already.

Plenty people no even sabi d purpose why Satoshi create bitcoin, Wetin everybody know be say if dem buy bitcoin and hold dem go make profit, dey no know say na make we dey use am run transactions na why him create bitcoin be that. I no talk say make we no hold bitcoin ooo, everybody wan make money now, but make we dey try use am run transactions to so that e go fit dey serve d purpose Satoshi create am.

My broda no be small bitcoin adoption never reach that level for this country and plus the fact say e still even dey illegal sef to use because of the ban so e go day complicated because much customers dem no go dey wey you fit render these services, so I go also advice the op to just lay low for now and focus more on accepting Fiat.

Well If you don properly arrange thing nai be say na very good plan especially for area when people dey aware of the use of bitcoin sha because if the supposed customers dem wey suppose buy no come dey buy because of lack of knowledge den na big fuvk up be that. Me I no go fit start this kind thing sha for my area because people no too dey comfortable about this whole bitcoin trend.

How many person dey use bitcoin for ur area wey you wan make advert for piple to come and use bitcoin to buy goodies in di shop. My brother you better leave it as im be. As dem dey use di fiat nai sure pass. Di way I see BTC im never reach dat level wey people go dey use am dey buy and pay things free like dat because the change e dey high. Pesen no go even do am sef. So I will advise you not to do am because e no go favour you and e no go favour do buy.

I've heard of people buying house for Lekki with Bitcoin. In fact, there is a developer in Idada that puts on his banner, "BTC accepted". It all boils down to personal relationships and preferences.

The main thing is trust because if payment was made by bank transfer, there will be presentable evidence (in court). But if yahoo disappears with your BTC, who you go call?

On the legal side, from a business point of view, there is nothing stopping two willing sides from trading by barter. I know Emefiele didn't want you rich people in Ikoyi to be collecting rent in dollars but that didn't stop anything. So it depends on if your normal customers want to use it and there is trust.

This my comment is based on local market, of course. If you are selling online, anyone who is interested can decided to accept BTC.

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?