Reason why businesses should accept Bitcoin payment - page 12.

nelson4lov

hero member

Activity: 2212

Merit: 805

Top Crypto Casino

Quote from: RILWAN on October 08, 2021, 02:26:53 PM

Haven't spent some hours thinking about the advantage that is associated with Bitcoin in company ecosystems, new start-ups that are located in crypto-friendly countries are now diving into Bitcoin as payment against the regular faint traditional currencies, after administering questionnaires to some of the business CEOs stated the reason to be the anonymous nature and its intrinsic value. That is to say, Bitcoin is a business within a business because of its decentralized nature and volatile market.
So the company gain in two ways for accepting bitcoin for payments and if the price of bitcoin goes upward interest are generated also.

There's another way to look at this. Established companies or startups might be willing to integrate bitcoin to their payment systems and platforms but the jurisdiction that are in might not allow them to. So that's something should keep in mind imo. Its no longer news that adding bitcoin to a business has more pros than cons.

dothebeats

legendary

Activity: 3542

Merit: 1352

Cashback 15%

But there's still that looming threat of a possible value depreciation in bitcoin, hence why not a lot of companies or businesses have fully committed to accepting it on their platforms. Huge businesses and conglomerates can potentially accept bitcoin as a form of payment no problem as they can easily churn whatever losses they may incur on the bitcoins that they gain. Start-ups, on the other hand, do not have this financial capacity just yet, hence why them accepting bitcoin and crypto is not a good idea.

Desmong

member

Activity: 812

Merit: 13

Crypto bookmaker and casino

There is no doubt that very soon the Fiat method of running transactions will be gone making more persons to adapt to block method of running transactions. I can't just imagine how fast it was easy form to send money for someone that is more than 5k kilometers away from me and how easy it was without a third party making payments and transactions.

verita1

member

Activity: 1358

Merit: 81

I agree, OP. Businesses should today start accepting bitcoin and cryptocurrencies taking advantage of the opportunity if their nations are friendly with cryptocurrencies.

It is a change that is inevitable because just as large technology companies were born, so it will happen with bitcoin and cryptocurrencies that were adopted throughout the world.

It only remains for people to worry about learning about how bitcoin works and the benefits it can offer them in their economies.

vv181

legendary

Activity: 1932

Merit: 1273

Do note that the company needed to run their own node to achieve the decentralized nature, if they are using the third-party payment gateway, they are not truly achieving decentralization. The volatility is also a double-edged sword for the company, some might want to store the payment in crypto, on another hand, some needed fast cash to operate it.

I do not imply and discourage its hard for businesses to accept Bitcoin. As a matter of fact, there is some payment gateway that has a FIAT conversion feature to mitigate volatility. My take is, whether a business accepts Bitcoin payment or not, it's a multi-variate problem that needed to be solved by the company self-interest. Not to mention, in some countries, regulatory issues are the obstacles.

adzino

copper member

Activity: 2968

Merit: 575

www.Crypto.Games: Multiple coins, multiple games

It's easy to use. You have control over everything. You can easily track all your transactions and lets not forget, all transactions are public. You don't have to go through a lot of paper works and you skip all the inconveniences that you have to face when using a third-party centralized financial institution (banks). Users can send or pay right away without having to go through multiple random checks. So many reasons why businesses should start accepting bitcoin as payment.

Quote from: RILWAN on October 08, 2021, 02:26:53 PM

So the company gain in two ways for accepting bitcoin for payments and if the price of bitcoin goes upward interest are generated also.

Don't forget, the price can drop too!

Alisha-k

member

Activity: 840

Merit: 23

I totally agree with this, accepting Bitcoin in buisnesses today should be one of the biggest things that'll happen in the economy, it saves you so much stress and unnecessary charges that would have been made using FIAT.

RILWAN

member

Activity: 742

Merit: 12

Global peace initiative

Haven't spent some hours thinking about the advantage that is associated with Bitcoin in company ecosystems, new start-ups that are located in crypto-friendly countries are now diving into Bitcoin as payment against the regular faint traditional currencies, after administering questionnaires to some of the business CEOs stated the reason to be the anonymous nature and its intrinsic value. That is to say, Bitcoin is a business within a business because of its decentralized nature and volatile market.
So the company gain in two ways for accepting bitcoin for payments and if the price of bitcoin goes upward interest are generated also.

Topic: Reason why businesses should accept Bitcoin payment - page 12. (Read 1246 times)