A real world application I am trying to develop is one that includes my business as a General Contractor where I can utilize BTC as an everyday monetary means of conducting business. For instance I cannot purchase materials needed for a job at the local box store such as Lowes or Home Depot for my next job. I cannot charge my clients for jobs and ask they pay in BTC as a majority of my clients do not even hardly understand the technology and still think it's a fad that is certainly in the realm of mystery and intrigue.
Therefore if I maintain an account that is strictly BTC for my business (No fiat at all) is there a way that can work instantaneously exchange BTC to local currency for transaction both incoming and outgoing? This would be extremely convenient without having to constantly manage account fiat / BTC exchanges on a daily or weekly basis.
Look forward to any input on this matter.
there are lots of payment processors who can invoice your customers, take payment in BTC, and then transmit the fiat value to you, the merchant. bitpay, coingate, coinpayments, etc. you'll notice all these companies market their product as a way for merchants to accept BTC,
not as a way for customers to pay in USD.finding the reverse---a processor who can take payments in fiat and transmit the BTC to the merchant---is much more difficult, due to the high risk of fraud with fiat payment methods.
you could get a bitcoin debit card from coinbase, bitpay, etc. that would allow you to pay at lowes or home depot with bitcoins held in your debit card account. so that takes care of the spending angle. but again, getting bitcoins from your customers in the first place is the tricky part.
