Topic: My little research. - page 3. (Read 507 times)

Of course, I would agree with that. Personally, in this forum, I learn a lot. However, for the OP, he mentioned that he is still quite new to bitcoin, so he needs to start from the very basics, which is learning the fundamentals. Knowledge about bitcoin is very complex, and we don't need to mix everything, as that will only make it complicated. What the OP needs is to simplify the way he should learn. He can use other platforms, as mentioned, for basic learning and then come back to the forum for more advanced knowledge.

I mean, SMEs and freelancers can simply put a QR code or even a wallet address just to enable Bitcoin payments. Why need for payment processor? It's going to convert everything to fiat anyway.

If you want crypto payments pointless to force crypto users to pay high fees for using processor when it's cheaper + secure to send to your wallet direct!

There is a lot of useful knowledge about bitcoin here, especially about security such as how to use a wallet, choose a trustworthy wallet or use a decentralized exchange...This is knowledge that many other places have never mentioned to us. But for a newbie who needs basic concepts about bitcoin, I still recommend them to search and learn on YouTube because it will help us visualize things more easily. OP should combine the forum's knowledge and YouTube as the best and most effective way to learn about bitcoin.

There are plenty of platforms out there to help you get acquainted with Bitcoin. Just try searching on popular platforms like YouTube, and I'm sure you'll find more information. It's often easier to understand when someone explains it rather than just reading about it here. I'm not saying you won't learn here, but it's essential to be resourceful because you need that, especially if you're planning to accept Bitcoin in your business. Learning the basics and the procedures is imperative as Bitcoin transactions are irreversible. You wouldn't want to regret losing your money due to mistakes.

As a new person starting to know Bitcoin, you have creative ideas for accepting Bitcoin in your business. But before you accept Bitcoin into your business, you need to learn more because people who come to your shop may ask more questions about Bitcoin. You must explain to them what Bitcoin is and how to use it for payments and investments.

And before you start accepting Bitcoin, you should know the use of Bitcoin in your country, whether it is legal or illegal, so you can handle the regulators. And if in your country, Bitcoin is prohibited, you cannot continue with your idea of accepting Bitcoin because it will give you problems.

You can only use Bitcoin as a long-term investment while waiting for information or notification from your government about Bitcoin. But for now, you should start investing in Bitcoin first to join the next Bitcoin bull run, which is only a few months away.

There is a truth and indeed investment in Bitcoin will be very risky to if someone does not understand the investment conditions. But when someone understands investment correctly, this risk can be minimized by itself.

The question is how bitcoin is treated in your country, is bitcoin legal as an investment asset? The only problem is when your country prohibits bitcoin and if you force bitcoin as a means of payment it will be quite risky for yourself. Another possibility is that the business you run will experience setbacks because maybe people are not used to using this pattern. Consider the impact before you go because even though Bitcoin is one of the best at the moment, if you force it and don't see opportunities it can actually lead you to problems.

In my opinion it is better for you to try investing rather than using bitcoin as a means of payment in your business because consumers do not necessarily want to accept this method and maybe because they are not yet used to payments using bitcoin.

You don't have to wonder anymore because the government knows exactly what they're doing, they're not accepting Bitcoin because they don't understand it but there are doing so because they understand the power that Bitcoin holds. Accepting Bitcoin means they'll be giving up all the power they have in controlling the financial aspect of their citizens life. Bitcoin gives privacy and full control to who is in control of the Bitcoin and not a centralized body like the government. Bitcoin is a calculated risk investment, you're not investing in a scam or high risk investment that can make you lose if you just buy and hodl some Bitcoin. Bitcoin risk is calculated but people are yet to understand that, investing in altcoins that's when you're taking an uncalculated risk because their future isn't guarantee as nobody knows the future of any altcoin but the future of Bitcoin is almost certain that the price will be greater than its current price.


If you want to accept Bitcoin for your business, you don't need much research as all that's needed is to have a wallet and get your Bitcoin address out to your customers. You only need need the knowledge of getting your Bitcoin address and confirming if the Bitcoin has been sent on the blockchain. Also you need to wait for atleast one confirmation before processing anything they bought from you as double spending is something that can happen when Bitcoin they sent has not completed one confirmation on the blockchain. You can also make use if lightening network for smaller and faster confirmation. I won't recommend the use of payment gateway as they takes away the decentralization of Bitcoin. Gateways are convenient to use and very popular are mostly centralized and we shouldn't be using centralized services.

You can start investing in bitcoin with any amount of money you have, and you are correct that it carries risk. However, I still want you to understand that before starting any business today, you must take risks because every business has potential for profit as well as the potential for loss. The only way bitcoin differs from a business is that it is an investment that you buy and hold for a long time in order to resell and make a profit. The primary reason people invest in bitcoin is to make a profit, which is true for any business you start today if you don't have any revenue coming in from it.

As a beginner, you must do the right thing by learning the procedure and how to invest in bitcoin. I will advise you that out of 100% of your money, try investing 40% for the first time and holding it; the reason I say this is because you must start everything in life gradually so that, even if something changes, you won't experience the pain of regretting your investment in bitcoin, and about The government of some nations that are not accepting bitcoin in their country will allow very soon because bitcoin is an unstoppable investment, so I don't think you will have problems if you retain your coin extremely securely without letting anyone else access to your wallet.

It is easy to create a BTC wallet and make your BTC address or your address's qr code available to your customers, you could also use a payment processor like BTCPay server to accept payments. It is worth mentioning that you should know what you are doing, from what you wrote in your post you do not understand a lot about BTC, so maybe you should get your understanding right about BTC and understand how to use a wallet and protect your funds before you talk about accepting BTC in your business.

You do not need to incorperate Bitcoin payment into your business at this level since you said its a "little business", the volatility that goes with the cryptocurrencies has no regards for what level of business you are currently running, it can make you fortunate and can also go north, depending on what the market presents.

If you want to incorperate bitcoin as a way of practising, then I will say you only risk what you can aford to loose so as not to fall out of business grace. The major reason why people drown in this space is because they choose to test the depth of the ocean with their feet.

You might be amazed to see the BTC technology and might wanted to adopt it quickly, you might be getting ideas that you will become so much rich if you would invest in BTC or start accepting payment in BTC and hold onto those BTC for longer period of times. But keep one thing in mind that, no doubt current market time is the good one to make 2x or 3x out of BTC holding but if you wanted to hold BTC for your whole dear life, then what are your purpose here. I meant to say, are you planning to use this investment in your retirement.

If that's the case, then I loved the idea and your idea is lose proof. Because in the long run, BTC is going to gain huge price tags. Some even says, it have the potential to reach $1 million, some says $10 million but I don't think in our life we might be able to see that price tag.

You are right about learning, and don't follow that suggestion which is just saying, that you should have this and that, I will suggest you to start learning from the lightning network, and which wallet is best for you, if you are planning to hold onto you BTC, then chose a non-custodial wallet, like Electrum i.e.

The Merchants Guide to accepting Bitcoin directly no intermediates - BTCPay This whole thread might help you.

Not until late in life, mate, but it is a good investment that is significantly superior to any other cryptocurrency investment. I prefer bitcoin investing to FOREX trading because it is less risky and you have the guarantee of holding it for a long time because those who have been holding it since 2009 have gained a lot of money and bitcoin is continuing growing reputation and recognition throughout the world.


Accepting bitcoin payments will make you love bitcoin even more. I recommend that you set some money away and store all of the bitcoin you receive from customers so that you may progressively accumulate your bitcoin.

If you want to introduce bitcoin to your business you must be ready to accept the dip , you must have gotten understanding that bitcoin is very volatile.  If you consider all these that it won't affect you or your business then it is nice accepting bitcoin in your business because with how the traditional currency is loosing value I would even prefer to deal with bitcoin. You really need to look into this idea as accepting bitcoin and ask yourself some critical questions if the price of bitcoin falls if it will affect your business,  I don't know how you run your business if you have another source of income which you pump money into the business to strengthen it but if your business depends on the profit you get from it I wouldn't advice you to channel it to bitcoin.

You are new and don't have much knowledge about bitcoin so what you need to do now is knowledge and knowledge. You should not rush to accept bitcoin for your business or rush to invest in it with large amounts of money. It sounds easy, but when you enter the market you will see that there are many things you have to face, so prepare everything carefully before entering the market. Investing in bitcoin is just like your business, everything takes time, you should not rush and think that you can get rich quickly from bitcoin.

You might be making some profit out of your business, and that profit is your salary, but you can say that it is not a fixed salary, but your expenses are fixed and are increasing with inflation, so, you might find it difficult to invest 20% of your earnings in BTC on monthly basis. So, it all depends on you now, we are not saying you to invest 20% of your earnings. I am trying to say, you should use 20% of your savings.

ImThour said to use 20% of earnings, but use %20 from your savings, there is a difference which you have to know. Well, fun aside, you should have some money in your savings, other than emergency funds, and then use some of the amount from your savings to invest in BTC over a period of time, maybe by doing DCA or by lump sum. But that's not what you are looking for! Am I right?

You want to learn the way to make BTC payments for your business more useful for you. I will say, use the lighting network, for the TX, and do not withdraw all the funds in parts, withdraw them in bulk like at the end of the month. If crypto is not legal in your country then you might not find any customer willing to pay in BTC. Or maybe you might find one or two. Overall, don't rely on any third-party platform to use their service for your business, because you only need a wallet to receive funds.

So you are on the right path of learning and it's good that you are utilizing this forum and learning from it.
I would advice you not to start accepting bitcoin right now because you are still relevantly new to bitcoin.
Get your hands on it and keep using it for few weeks/months and get to know how everything around it works.
Only when you are confident enough then try accepting bitcoin payments. Always keep your private key/seed phrase very secure.

since its introduction, bitcoin has been a revolutionary form of payment system which allows people to make transactions quickly, anonymously and decentralized. decentralized here means that bitcoin is not controlled by anyone and is free to be used by anyone. of course, this is not liked by the government because it could threaten the distribution of fiat to society at large and because of this, bitcoin is banned in many countries.

your idea to be able to adopt bitcoin in your business is an idea that should be appreciated because currently not many businesses dare to accept bitcoin in their business. however, you need to pay attention to the regulations in your country because in some countries the adoption of bitcoin is prohibited and violating this can be punished. but if it's allowed in your country, it's worth trying.

If you still lack comprehension about the Bitcoin ecosystem and its outlook, I would suggest refraining from incorporating playing around with Bitcoin into your business. Not that it is not good to practice while learning, but since we dealing with a business, you really don't want to play around about it. Better stick and thrive with what must be done with your business.

Gaining insight and trying to understand Bitcoin doesn't necessarily require money, so it should not be a problem for you. There is many aspect and scope to learn, seek what interest you the most I'm pretty sure money won't be an obstacle.

Bitcoin does not need legalisation from the government and the government in turn will not want to endorse a technology they cannot control.
All citizens can access Bitcoin directly.

You first have to research on the demand for bitcoin payment option.
Some businesses accept bitcoin as a form of advertising for it to attract investors, if that's not your motive and there's no demand for it, I will suggest you focus on more popular payment methods.

Put accepting Bitcoin as means of payment aside and focus on learning about Bitcoin first, you are a newbie and you don't know the mistakes available when beginners age exposed to crypto investment, you can start accepting Bitcoin now and fumbled in some areas that you shouldn't due to lack of your understanding.

Learn about the difference between Bitcoin wallets and also how to keep your Bitcoin safe, also make sure that your government is not against Bitcoin because if this is what's happening it's better not to openly accept Bitcoin as means of payment, so don't go and include BTC payment accepted here on your business sign board or you risk facing the panel.

Some Bitcoin wallets are not safe to use, they won't give you access to your private keys and they often requires for email and password to log in, these type of wallet have access to your keys and they can stop working anytime, the best Bitcoin wallet is Electrum or others that are non-custodial fully open source, so do not rush at all, take your time to learn, for every newbies there is a lot to learn about Bitcoin first, Good luck.