It is the most risky one but can also be the most rewarding one!
Right. Use a cold wallet for long term storage. (Not connected to any network wallet. Remember to save a deposit address for it before you bag the key.)
Topic: Pet shop want to become a bitcoin exchange? - page 6. (Read 944 times)
It is the most risky one but can also be the most rewarding one!
Right. Use a cold wallet for long term storage. (Not connected to any network wallet. Remember to save a deposit address for it before you bag the key.)
Yes you have a few different options, as a shop if you want to only accept crypto and sell it for cash right away there is a really good website for you:
https://bitpay.com/
You can sell items for Bitcoin and trade it in for cash right away you will receive the funds directly to your bank account with zero price volatility or risk.
The other option is to directly recieve Crypto for items yourself and keep the Crypto of course, if you dont need to spend the money right away on needs like rent and food I think this is the best option.
It is the most risky one but can also be the most rewarding one!
https://bitpay.com/
You can sell items for Bitcoin and trade it in for cash right away you will receive the funds directly to your bank account with zero price volatility or risk.
The other option is to directly recieve Crypto for items yourself and keep the Crypto of course, if you dont need to spend the money right away on needs like rent and food I think this is the best option.
It is the most risky one but can also be the most rewarding one!
Yes I love the idea of a bitcoin atm. How would it be possible? Does BitPay handle dogecoin? I would be first pet shop doing this I reckon
You don't need any third party gateway with a proper plugin. Check up on modules for your CMS.
Meaning you can avoid fee's.
so you wanna open an exchange or you wanna accept crypto?
I think what he meant to say was to accept crypto as a payment method and this inspiration actually came forth as he was reading an article about bitcoin exchange. Answering OPs question it would be a great idea and also expose bitcoin to your customers but i hope they are no legal restrictions of bitcoin in your country.
Slinging shit over the fence.
Why would he do it if it where illegal.
Is it a criminal offence where you come from?
Do not you think that the owner of the pet store will spend too much time on the implementation of your proposal?
It won't take more than a hour to set up everything he needs. It only requires him to create a channel and increase the inbound capacity (to receive payments). Creating a channel requires 5 minutes. I have shared tutorial above and you can check that. It's not that much of hard as you are thinking.Lightening payments look great! I could even sell the system to other shops?
Your questions aren't clear. What are you referring to? 
I’ve got a pet shop and I wanted to accept bitcoin and alt coins then I was reading about becoming a bitcoin exchange ... is this possible? I understand it’s worth goes up and down.
For me if you already have a pet store but you still wanted to have another business like trading bitcoin, I think you should pursue those two businesses because both of those can give you a high profit and also that is another way of saving and investing your money. Its just like you are hitting two birds with one stone. so you wanna open an exchange or you wanna accept crypto?
I think what he meant to say was to accept crypto as a payment method and this inspiration actually came forth as he was reading an article about bitcoin exchange. Answering OPs question it would be a great idea and also expose bitcoin to your customers but i hope they are no legal restrictions of bitcoin in your country.
reminds me of MTGOX.
MTGOX was said to be meant for a card exchange site. you know those collectible cards where nerds are trading. i'm not really aware of this but i just read it somewhere which its history were discussed. they were trading cards and eventually some of them accepts BTC and then later on Karpeles turned its website into a php written BTC exchagne which its security is very poor.
OP should jsut accept BTC instead of making its petshop into an exchange.
Lightening payments look great! I could even sell the system to other shops?
You mean selling the system of lightning payments? well, you can create your own service that will attach the other shops and be the third party that shall process their payments.Do you already have the website? may we see it?
Pick doge and tether. BTC is too gay and crime endorsing. You don't wanna be associated long term.
Edit: And perhaps TRX for fast transfers.
Edit: And perhaps TRX for fast transfers.
I hope you are going to accept dog(e) coin. 
Doge Coins best suits the pet shop. Maybe OP can put a logo of Doge coin on the sign board of his shop.
https://i.imgur.com/GYijNaj.png
If this does not violate the rules of the Dogecoin community, then it sounds like a super idea for advertising a pet store!
I’ve got a pet shop and I wanted to accept bitcoin and alt coins then I was reading about becoming a bitcoin exchange ... is this possible? I understand it’s worth goes up and down.
I think you are confused. You can accept crypto payment, it is not so complicated thing. You can either accept bitcoin or use a token. But if you want to launch an exchange platform, it is something hard, you have to be more professional and forget about your pet shop.
This is in the U.K. it is legal and it is my pet shop so I don’t have to seek permissions. Brighton is a modern city and we are prob big enough to trial it. Lightening payments look great! I could even sell the system to other shops?
Since you have got a pet shop, I guess it's better if you start accepting bitcoin through Lightning Network; best for micro payments. You will get-
- Instant Confirmation (You are unlikely to wait for confirmation.)
- Low Fee (Your customers are unlikely to pay higher fee for a small transaction.)
Lightning Network can be the best solution for shop you referred.
If you need to learn more- A Beginner's guideline to Bitcoin Lightning Network
More interested; try Lightning Network with testnet BTC- [Tutorial] How to create Lightning Network Channel (Testnet BTC)
If you have got some questions to ask, don't hesitate. Go to the thread I referred & share your query; will gladly assist as much as we can.
- Instant Confirmation (You are unlikely to wait for confirmation.)
- Low Fee (Your customers are unlikely to pay higher fee for a small transaction.)
Lightning Network can be the best solution for shop you referred.
If you need to learn more- A Beginner's guideline to Bitcoin Lightning Network
More interested; try Lightning Network with testnet BTC- [Tutorial] How to create Lightning Network Channel (Testnet BTC)
If you have got some questions to ask, don't hesitate. Go to the thread I referred & share your query; will gladly assist as much as we can.
Yes I love the idea of a bitcoin atm. How would it be possible? Does BitPay handle dogecoin? I would be first pet shop doing this I reckon
I don't see anything wrong in making some profits by offering this feature to your clients. If you are accepting cryptocurrency payments through a processor like Bitpay, then you don't really have a way to profit from the transactions made by your customers since Bitpay takes all the commissions from handling the txs. However you could be a little creative and maybe put a Bitcoin ATM in your store and/or offer an interface for people to buy and sell crypto at fixed rates. You can be more flexible here, but you're going to need a team of skilled programmers to pull this off.
I hope you are going to accept dog(e) coin.
Just wait for the Elon Musk coming on the next day after DOGEcoin accepting, he will come for pet food
From what i understand, you want to open en exxhange and you want to accept cryptocurrency in this case is bitcoin as a payment. I think dogecoin is suited since it's kind of like a pet things and it has cheaper fee comparing to bitcoin,for your information bitcoin has a higher fee especially for small transaction, people have to pay higher fee in order to get faster confirmation.
Lol ok so accepting bitcoin and alt coins how do you go about it? I signed up with BitPay
What is doge coin?
What is doge coin?
you are talking about two entirely different things.
accepting bitcoin is just like starting to add a new payment method. like not accepting credit cards and now doing so. you just learn a little about what bitcoin is and how things work and what risks there are and then create your own wallet and start accepting payments through bitcoin.
becoming an exchange is an entirely different thing. you basically want to start a brand new business that you probably have no experience in since your job has been something else. so first of all your chances of success are very minimal and secondly you have to initially spend a lot of money and have a large capital to start a decent exchange for the cost of creating it, security, maintenance, advertisement and more.
accepting bitcoin is just like starting to add a new payment method. like not accepting credit cards and now doing so. you just learn a little about what bitcoin is and how things work and what risks there are and then create your own wallet and start accepting payments through bitcoin.
becoming an exchange is an entirely different thing. you basically want to start a brand new business that you probably have no experience in since your job has been something else. so first of all your chances of success are very minimal and secondly you have to initially spend a lot of money and have a large capital to start a decent exchange for the cost of creating it, security, maintenance, advertisement and more.
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