Is it a good time to start accepting BTC? - page 6.

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Quote from: BroganWessex on May 25, 2022, 06:18:00 AM

Hello all,

I have been following Bitcoin prices for some time, and now I'm doubtful if it is a good time to start accepting it as it has changed so much in the past months. Those who accept Bitcoin - is it worth it? And do you accept Bitcoin straight to your wallet, or do you use third-party services?

Thanks in advance!

Maybe it depends on what kind of business you are up to and if people are also willing to pay bitcoin for whatever kind of service you are offering. If your business is somehow on the technology side then I think bitcoin as payment might be worth it but if the business you are taking about need a monthly capital and you only support it through the income itself of the business then, therefore, I think it's going to be hard. You should not also forget that bitcoin's price is extremely volatile and it can really affect the way you handle your business. But if you are willing to take the risk then why not?

And if you really like to accept bitcoin, then I think it is much better if you are being paid directly to your wallet and don't use third-party services as it will cost customers additional fees which for sure they are not going to like.

GigaBit

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Cryptocurrency is a High Volatility trading platform. There is a fear of losing huge as well as a possibility of profit. According to my experience, those who hold BTC they never make loss if they hold it for long time. Because last year we see the ATH of btc price. The current market condition is not positive and btc price is lower so this is the proper time to buy or accept btc.

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Quote from: BroganWessex on May 25, 2022, 06:18:00 AM

Hello all,

I have been following Bitcoin prices for some time, and now I'm doubtful if it is a good time to start accepting it as it has changed so much in the past months. Those who accept Bitcoin - is it worth it? And do you accept Bitcoin straight to your wallet, or do you use third-party services?

Thanks in advance!

Your question is very acceptable but it denotes "distrust" if there is fear it is better not to enter the business of payments with bitcoin for services, but although the current situation does not seem to look good it is perhaps the best time, but it is not so easy in the sense from the backing of liabilities, that is, debt payments, inventory acquisition, payment of employees, if you currently receive payments in BTc you should have a backing of liabilities and assets in Fiat, but surely in the medium-long term you will obtain profitability.

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Quote from: BroganWessex on May 25, 2022, 06:18:00 AM

Hello all,

I have been following Bitcoin prices for some time, and now I'm doubtful if it is a good time to start accepting it as it has changed so much in the past months. Those who accept Bitcoin - is it worth it? And do you accept Bitcoin straight to your wallet, or do you use third-party services?

Thanks in advance!

From an investment standpoint, some might argue that accepting BTC directly may be a bad move, but to others (including me) this is a dream come true waiting to happen. The beauty in investing into BTC is primarily due to its inflationary nature and volatility. Many have experienced that their investments skyrocket due to BTCs volatile value and nature.

Personally, investing into cryptocurrency is definitely risky but it is definitely worth it due to the potential of earning thousands to millions. From my experience also, my BTCs go straight to my wallet and no third-party services (e.g mixers, etc.) have been used to transfer such.

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Bitcoin price has become acceptable in all countries of the world. Because all the developed countries have given cryptocurrency legitimacy in almost all the countries but all the underdeveloped countries? Cryptocurrency has not been legalized. Because they can't support the cryptocurrency that the banks of all the developed countries can't support because updating the cryptocurrency will bankrupt the bank.

Due to which developed countries are less likely to accept bitcoin support but also in developed countries or cryptocurrency is certainly supported.

By now its good to start accepting it knowing the price is so cheap compare before and we are facing down trend so I guess it will be beneficial for a company or business to do it right away because if the price pump more harder as we know bitcoin has capabilities to have a bull run for sure those companies who accept bitcoin when the price at cheaper price will earn more from it. For now do more studies because and also ask yourself first if you can handle the market pressure since we know price of bitcoin is so volatile.

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Quote from: mr_enoc on May 28, 2022, 03:51:17 PM

Quote from: BroganWessex on May 25, 2022, 06:18:00 AM

Hello all,

I have been following Bitcoin prices for some time, and now I'm doubtful if it is a good time to start accepting it as it has changed so much in the past months. Those who accept Bitcoin - is it worth it? And do you accept Bitcoin straight to your wallet, or do you use third-party services?

Thanks in advance!

You can accept bitcoin as payment but monitor the price of bitcoin. Bitcoin price always fluctuate, it is important to check the chart because there is a possibility that btc will go down again.

Doesnt matter if bitcoin is price high or lower.
1 BTC = 1 BTC

It do only differs on USD value which we do really matter the most but if you are really on that decision or plans on accumulating profits in long term basis
then holding or accumulating as much as you could would really be idea but if not then you could make use of third party providers which could make out
instant conversions to fiat if you are really that worrying that much.

Its up to someone on how much risk they could able to put in related into their own business.

mr_enoc

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Quote from: BroganWessex on May 25, 2022, 06:18:00 AM

Hello all,

I have been following Bitcoin prices for some time, and now I'm doubtful if it is a good time to start accepting it as it has changed so much in the past months. Those who accept Bitcoin - is it worth it? And do you accept Bitcoin straight to your wallet, or do you use third-party services?

Thanks in advance!

You can accept bitcoin as payment but monitor the price of bitcoin. Bitcoin price always fluctuate, it is important to check the chart because there is a possibility that btc will go down again.

noorman0

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Bear markets are a good time to start adopting bitcoins in business in the hope that they will grow when the price will recover. Regarding payment methods, I will look at several factors such as how interested people are in using bitcoin to pay for things and the habits of people using this type of wallet for transactions, as well as how you want to manage the bitcoin income itself whether you will hold it or reuse it to finance creating new products. This will determine the payment method you want to use for your service.

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There's no better time to accept bitcoin in your business. It totally upto you and what you want. But let me drop suggestions below;

1. According to the context in Op, it is implied that the best time you want to accept bitcoin for business is when it attains some level of stability. It coul be when the last btc is mined or when there is massive adoption.

2. When you say business, treat business as business and nothing should stop your business from growing including bitcoin. If your customers don't need bitcoin as a payment method, please don't force it. Forget bitcoin and continue your business with fiat. But if you are unsure about your customers view, you can ask for their feed back through some questionnaires. It is your customers that will determine and not us here.

3. If you are to accept bitcoin, ensure you have means of battling volatility and reconciliation of accounts.

ninis45

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I understand that what I'm afraid of is the price that there may still be a deeper decline so that the op is hesitant to accept bitcoin but if you want to implement bitcoin payments then you also have to know how the bitcoin price travels which are very unstable, not as fiat, so you have to be able to apply it every time of course with a system that can be managed to avoid big losses from a payment and if that can be done then the op is making a big step for bitcoin

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Quote from: Asiska02 on May 27, 2022, 11:40:17 AM

There’s never a good and bad time you start accepting bitcoin. Using bitcoin as a means of payment for services you render is a big plus for your business. People respect privacy a lot and accepting it can bring more customers to the services you are rendering. Accepting bitcoin and immediately changing it to fiat is the best for you as you’ll want to stock more products for sale as you’re selling off. This is best for you considering the market fluctuations currently, for you not to lose most of your profits in a blink of an eye. You can only keep for a while if you want to invest for a long time in the market having in mind that the market can either fall down or go up at any moment in time.

Depends actually on someone's preference because majority of merchants or Business owners doesn't really like to get involved into something which could really give out chances of losing those things but there are some who are really that open-minded when it comes to possible opportunities that they might able to get into.

It's up to him whether he accepts or not and I do agree that there's no good or bad time yet this is just an other alternative when it comes to payment gateway or method.It is really just Bitcoin does have other benefits where people do been thinking of.

skarais

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I don't think that this is a bad time to try to accept bitcoin as a means of payment, it's certainly a good time because now a lot of institutions out there are starting to adopt it. Especially for countries that have legalized bitcoin as a means of payment, you may be able to easily adopt it as an alternative currency in your business. But not for my current country which still has rules that prevent bitcoin users from using their bitcoin as a means of payment.

Quote from: Asiska02 on May 27, 2022, 11:40:17 AM

There’s never a good and bad time you start accepting bitcoin.

No, if many large institutions start to stop adopting bitcoin as a means of payment mainly because the government revoked its legality then it is not the right time to adopt it. But if you agree, I can't blame you one-sidedly.

Asiska02

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There’s never a good and bad time you start accepting bitcoin. Using bitcoin as a means of payment for services you render is a big plus for your business. People respect privacy a lot and accepting it can bring more customers to the services you are rendering. Accepting bitcoin and immediately changing it to fiat is the best for you as you’ll want to stock more products for sale as you’re selling off. This is best for you considering the market fluctuations currently, for you not to lose most of your profits in a blink of an eye. You can only keep for a while if you want to invest for a long time in the market having in mind that the market can either fall down or go up at any moment in time.

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Quote from: BroganWessex on May 25, 2022, 06:18:00 AM

Hello all,

I have been following Bitcoin prices for some time, and now I'm doubtful if it is a good time to start accepting it as it has changed so much in the past months.

a lot of people have probably said the same thing in the past when bitcoin's price is going down. if you are too worried about the volatility of bitcoin, you can always immediately exchange the BTC you get.

Quote from: BroganWessex on May 25, 2022, 06:18:00 AM

Those who accept Bitcoin - is it worth it? And do you accept Bitcoin straight to your wallet, or do you use third-party services?

yeah, it is worth it. the manager of my signature campaign pays me directly to my wallet.

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Quote from: BroganWessex on May 25, 2022, 06:18:00 AM

Hello all,

I have been following Bitcoin prices for some time, and now I'm doubtful if it is a good time to start accepting it as it has changed so much in the past months. Those who accept Bitcoin - is it worth it? And do you accept Bitcoin straight to your wallet, or do you use third-party services?

Thanks in advance!

I will say yes ,bitcoin is always suitable for accepting in business but there is also some risk that is the market volatility. If the market volatility can't harm to your business then there's no risk and if it can then it can be a barrier to your business. So I think you should first know that, is bitcoin accepting suitable for your business and if any action can be taken to make it suitable, then take the action first and then analyzing it and then accept.

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Quote from: BroganWessex on May 25, 2022, 06:18:00 AM

and now I'm doubtful if it is a good time to start accepting it as it has changed so much in the past months.

Companies accept Bitcoin in their business, based on the price of the goods they sell and are measured according to hourly and daily Bitcoin prices, Bitcoin going up and down is not a barrier for companies to stop accepting Bitcoin.

For example:
Today Bitcoin $28k, item price $50, company accepts Bitcoin at current Bitcoin price of 0.00172btc, and so on if Bitcoin goes up by $100k, the company receives Bitcoin for 0.00049btc at the adjusted price of Item $50.

High price of Bitcoin and low price of Bitcoin, it doesn't matter to companies that accept Bitcoin.

So, do business and accept Bitcoin as a digital currency in your company, not only today it's worth using, whenever it's good to use, even though the price is high and low.

FatFork

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Yes and no. It depends on where you are in the world and what your target market is. There are a lot of companies using BTC right now as an alternative currency, and it's easy to start accepting BTC when you can integrate it into your checkout process, but it is still very new. People won't be ready to spend it in retail until it is more mainstream. However if your target market is people already using bitcoin then accepting BTC is a no-brainer.

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Quote from: Rufsilf on May 27, 2022, 07:45:33 AM

That can be a perfect time provided that you run this legally, not illegal. I hope that your government allows any business establishment or sector to accept Bitcoin for this is a big factor that could affect the results of your plan and likely be successful. But if the authorities in your country ban crypto, never continue your plan or create problems with them as at the end of the day, you are the one to suffer rejections.

I suggest discussing it first with the assigned division where you are going to process legal papers before doing it just to make sure that everything will be fined and ready to go.

In this case the government plays the most important role, without any legality from them, then no matter how good an idea I think it is useless. for now the central bank states bitcoin is not a currency, although they are impressed with bitcoin's performance, and I think this will be a longer step because the current situation and conditions do not support bitcoin to be legalized let alone certify companies making payments with crypto, but we do not know future developments, along with relevant conditions later

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That can be a perfect time provided that you run this legally, not illegal. I hope that your government allows any business establishment or sector to accept Bitcoin for this is a big factor that could affect the results of your plan and likely be successful. But if the authorities in your country ban crypto, never continue your plan or create problems with them as at the end of the day, you are the one to suffer rejections.

I suggest discussing it first with the assigned division where you are going to process legal papers before doing it just to make sure that everything will be fined and ready to go.

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Quote from: BroganWessex on May 25, 2022, 06:18:00 AM

Hello all,

I have been following Bitcoin prices for some time, and now I'm doubtful if it is a good time to start accepting it as it has changed so much in the past months. Those who accept Bitcoin - is it worth it? And do you accept Bitcoin straight to your wallet, or do you use third-party services?

Thanks in advance!

If you have a business or work for a business in a position that enables you to suggest Bitcoin adoption, what do you have to lose from starting to accept Bitcoin? The price is currently low, so people who'll pay you might be hesitant, but you (or the business), on the other hand, have everything to gain if you hold these payments in BTC until it recovers. As for the question of the recovery, I have little doubt that Bitcoin will recover and surpass the previous ATH. It has always done it. The only consideration that might stop you is if accepting Bitcoin as payment is illegal in your country, and you might face repercussions for doing it. But that has nothing to do with the price.

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