Is there any disadvantages or advantages of receiving BTC as a payment? - page 2.

Almat

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Quote from: Jafri101 on October 26, 2017, 01:39:02 AM

Quote from: Jaycee99 on September 17, 2017, 07:52:47 PM

As I scan and read forums I got curious here.

Is there any disadvantages or advantages of receiving BTC as a payment from the object that you are selling or from the object you are buying by a BTC? I hope someone would be nice to to answer it kindly.

The advantage and disadvantage can be a price variation.
If it goes up then your desired paymnt could be less in fiat and if goes down then you can have more fiat. So it can vary and second thing the transaction fees. one tym fees for(selling/buying) then again fees if yu wana convert in fiat money.

Basically this. You need to set a higher markup to ensure that you do not lose profits. Fiat and other traditional payments are more convenient right now for the most part.

Geemy

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the fee is disadvantages

and the USD value can be disadvantages and can be advantages .

1Referee

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If you're afraid of the volatility or whatever, then there is always the possibility to make use of BitPay. It offers up to 30 free transactions per month, where after that a 1% fee applies. Or if you think you're going to move quite some sales volumes, then go for the business option, which allows you to get rid of the limits from the lower tier plan. You could even choose to receive an x percentage of the sales in Bitcoin, and have the rest come in as fiat. This will allow you obtain some coins, but without risking too much of your sales in fiat.

Look for yourself -> https://bitpay.com/pricing

Jafri101

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Quote from: Jaycee99 on September 17, 2017, 07:52:47 PM

As I scan and read forums I got curious here.

Is there any disadvantages or advantages of receiving BTC as a payment from the object that you are selling or from the object you are buying by a BTC? I hope someone would be nice to to answer it kindly.

The advantage and disadvantage can be a price variation.
If it goes up then your desired paymnt could be less in fiat and if goes down then you can have more fiat. So it can vary and second thing the transaction fees. one tym fees for(selling/buying) then again fees if yu wana convert in fiat money.

Bittoshi

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Receiving BTC as a payment can be good or bad, depending on the price development.If you receive for example 0.1BTC as a payment and shortly after BTC price goes down and you need the money, you would wish to have received the money in fiat instead.
But if you can hold your payment a bit and don't need it immediately to pay the bills and rent, it is almost always better to receive your payment in BTC than in fiat. Longtime BTC will rise in price and so your payment will.

maydna

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Quote from: Jaycee99 on September 17, 2017, 07:52:47 PM

As I scan and read forums I got curious here.

Is there any disadvantages or advantages of receiving BTC as a payment from the object that you are selling or from the object you are buying by a BTC? I hope someone would be nice to to answer it kindly.

i think we are not yet in one level which bitcoin can be accepted as a payment in real life but maybe its fine for the online payments because bitcoin is not reach a stable price level and always change from time to time. and although bitcoin price will increase after decrease, i think its better if we are still use fiat to receive a payment from the object we are selling or buying because ordinary people only know fiat for the transaction. so in this step, we can use bitcoin for our long investment and we can use for buying and selling in online payments.

jseverson

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There's definitely a few.

One of the most glaring ones is the transaction time. You don't really know how long a transaction is going to take to be confirmed, and it's not advisable to send out your item over a transaction that doesn't have, or only has a couple of transactions. You might have to wait a couple of days only for the transaction to be "cancelled."

Another is transparency. Everyone is going to be able to see that you made a transaction, and while it's anonymous to some degree, it's possible to trace it back to you.

Lastly, I would say volatility. It's not a big issue since Bitcoin always finds ways to bounce back, but if you have short terms on your retail business or something, you can definitely lose money thanks to the rapid price movement.

Boov

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Quote from: Jaycee99 on September 17, 2017, 07:52:47 PM

As I scan and read forums I got curious here.

Is there any disadvantages or advantages of receiving BTC as a payment from the object that you are selling or from the object you are buying by a BTC? I hope someone would be nice to to answer it kindly.

There is advantages and disadvantages in using Bitcoin as a payment. There have been security improvements since its inception, which make it safer to store coins when large companies hold extreme amounts of funds, and also for buyers. The Bitcoin network and block chain is very secure with a great deal of computing power working to secure it. Also Bitcoin is just starting to make a name in the industry some people still does not know anything about Bitcoin.

crismass1225

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every thing invented in our world have a pros and cons until it will develop at its full potential, buying stuff using bitcoin are not good for this moment as it have volatile characteristic price of the stuff online are changing when you convert it to dollar that will result to some over-pricing of it. Advantage of it is about transaction fee which is low compare to the taxes you will pay in the fiat money, also it have fast transaction, plus if you hold your btc it have a provability to increase its value in the near future.

orions.belt19

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The price volatility of Bitcoin is both an advantage and disadvantage to the receiver if BTC were to be accepted as a form of payment because at one point, the value of the BTC may become higher or lower in the future. Other advantages to it would be the ease of transaction which is easier as compared to fiat. Also, taxes will not be imposed however there are transaction fees. A good advantage to having BTC as a payment is the potential of it to increase in value in the future if you were to store it in a secure wallet.

I would prefer to receive BTC however another downside to this is that there's not much option for me to use it and I may not spend it for daily necessities and the like unless I were to exchange it into fiat money.

kimochidesh

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Main Advantage which I could see....BITCOIN as a payment mode is that it gives freedom in payment as no Govt. can access the bitcoin network. You can transfer any amt. of Bitcoin to anyone at anytime.

The disadvantage is that People, all around the world, are not much aware of it. Moreover, they do not trust on its value because of its volatile nature. Bitcoin’s price bounces or sinks every day, whereas Traditional money market seems to be stable for a long period of time.

Let's see How central Authorities take BITCOIN in the long run which will decide its fate as payment mode in future.

Yuhee

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Quote from: reliable on September 18, 2017, 02:22:58 AM

Quote from: jakoylantern on September 18, 2017, 01:01:14 AM

For me there is an disadvantages and advantages of receiving bitcoin as a payment. Because the bitcoin price doesn’t have a constant price. Sometime the price goes higher and higher and other times the price is getting lower.

Bitcoin price is a volatile which is the one the highlights of Bitcoin . You need to have a little risk taking capacity if you deal in Bitcoin . Yes overall there are many advantages of accepting Bitcoin as the value in near future may go up. You can buy altcoin converting your Btc to it . You can make payment to your local stores who accept it.

Also check your government rules how they treat Bitcoin .

I guess there are conditions also to be followed to at least avoid some disadvantages like delays and fees. Because from what i see, if you bought some item in 4 dollars and the fee for instant transaction might become 1 dollar. So some times items can be dependant on the disadvantages of buying items online. I would just say that let us just take btc as to what it is and start adapting to its disadvantage.

reliable

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Quote from: jakoylantern on September 18, 2017, 01:01:14 AM

For me there is an disadvantages and advantages of receiving bitcoin as a payment. Because the bitcoin price doesn’t have a constant price. Sometime the price goes higher and higher and other times the price is getting lower.

Bitcoin price is a volatile which is the one the highlights of Bitcoin . You need to have a little risk taking capacity if you deal in Bitcoin . Yes overall there are many advantages of accepting Bitcoin as the value in near future may go up. You can buy altcoin converting your Btc to it . You can make payment to your local stores who accept it.

Also check your government rules how they treat Bitcoin .

Pursuer

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if you want to invest in bitcoin then it is a lot better to instead get paid in bitcoin because simply that will remove additional steps that you must take to buy it. for example if you do jobs that get you some money or even your salary, if you can get them or a part of your salary in bitcoin, it means you don't have to go on an exchange take the risks, sign up, and pay fees to buy bitcoin. you just have bitcoin directly as your investment.

the disadvantage of this is the fact that you can not choose the price you get paid at. for example you may want to buy bitcoin in the dip like what we had recently because of FUD @ $2970 but when you get paid, you may get paid @ $3500 because that is the market price of that time. but this usually is not a serious thing for 99% of the time.

xx-man

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I think to do a job with paying Btc will not feel very loss, because I think Btc is a very good online payment for now and in the future, maybe now you can see many sites that have received Btc as a tool to buy and sell. , I see they do not feel the losses and losses, because they know the price of bitcoin is currently down, but they think it will not be long and btc will show a very good price in the future.

Wind_FURY

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For selling something that you can accept credit cards for, like all of the online webshops, there is no clear advantage. But if you are a dark market vendor who sells drugs, you see that there is a very clear advantage.

Bitcoin does not need to have a banking partner, you can be anonymous and the value is very easy to move worldwide. Bitcoin has everything every criminal organization needs.

The Monkey King

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Quote from: Jaycee99 on September 17, 2017, 07:52:47 PM

As I scan and read forums I got curious here.

Is there any disadvantages or advantages of receiving BTC as a payment from the object that you are selling or from the object you are buying by a BTC? I hope someone would be nice to to answer it kindly.

I guess the biggest disadvantage for getting paid with bitcoins is the wallet or the links with the wallet. Since not all wallets can be linked with other wallets when you need to move your bitcoins when trying to get your payout if the bitcoin cannot be transferred to your chosen currency or country. There is also the banks when chosing the bank to get linked to, some banks are not listed and has to go to the nearest bank. But if the wallet is very great like the one i know, i can easily transfer the currency to my chosen currency and get it through remittance centers.

jakoylantern

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For me there is an disadvantages and advantages of receiving bitcoin as a payment. Because the bitcoin price doesn’t have a constant price. Sometime the price goes higher and higher and other times the price is getting lower.

boyptc

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Quote from: Jaycee99 on September 17, 2017, 07:52:47 PM

As I scan and read forums I got curious here.

Is there any disadvantages or advantages of receiving BTC as a payment from the object that you are selling or from the object you are buying by a BTC? I hope someone would be nice to to answer it kindly.

There are disadvantages and advantages in receiving bitcoin as a payment. If you have a business and you have an option for bitcoin, there are few disadvantage on it because you are just giving the people to have some other option for their payment. Another disadvantage is the price of bitcoin can change immediately, it may go up and low and it can even go beyond from the original price of your service or product to offer.

jc89

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Quote from: Jaycee99 on September 17, 2017, 07:52:47 PM

As I scan and read forums I got curious here.

Is there any disadvantages or advantages of receiving BTC as a payment from the object that you are selling or from the object you are buying by a BTC? I hope someone would be nice to to answer it kindly.

Sure, everything do have advantages and disadvantages and that includes transacting with Btc. For the advantages, if you're a merchant who accepts btc as payment, of course is that there is a possibility that your income will increase depending on the value of btc.

Here's a situation. If you accepted cash from a customer, say for example you sold a laptop for $1,000 with a capital of $900 then you got $100 profit from it. On the other hand, you sold the same item but accepted btc instead of cash. Let's say $1,000 is 0.3BTC at the time of purchase then you got 0.03 profit. If the value of btc increases then your profit will also increase and might be doubled in time unlike in cash it will just be fixed profit of $100. And as for the disadvantage, well you get the picture just turn the situation the other way around. If btc deflates then your 0.03 profit will dwindle.

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