When will you start accepting Bitcoin in your store and boost your sales? - page 2.

jorneyflair

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Quote from: LeGaulois on April 10, 2017, 09:26:09 AM

Where did you got this 15% incrase in sales ? I am curcious.. I have see business owners started to accept Bitcoin and it doesn't represent more than 1% of theirs sales and for some 0% ! I remember a restaurant accepting bitcoin and when i wanted to pay they guy was not even to remember where he kept his adress, he said i was the first to ask paying the note with bitcoin

I wonder in what country you live in?
But I rather agree with you, bitcoin isn't so well known nowadays, it is being used by only small part of the society.
Bitcoin is something that some people heard of, but important thing is that they only know that something like "bitcoin" exist, and thats all.
They dont catch up on the technology of blockchain, and probably they dont want to.And this is totally fine, this is their choice.
I also have some friends who say that cryptocurrencies are scams and putting any moneys in it is simply a waste of your effort.

Im sure that implementing bitcoin payments as a merchant doesnt increase your sales in significant way, maybe in really developed countries, but i would say that might be 2-3% maximum.

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Quote from: mynhpark on April 10, 2017, 08:49:36 AM

When will you start accepting Bitcoin in your store?

If you are entrepreneur, a business owner or you just have an online shope, chances are you can increase your sales by 15% while increasing your security,
if you start accepting Bitcoin and other digital currencies as a form of payment. There are many ways to do this, depending on your country of residence.

You can use either BitPay, CoinPayments, Coinify or BLOCKPAY among others.

Which one do you prefer, and why?

My store already accepts Bitcoin, but my sales have practically not gone up at all. Hopefully this starts to change soon.

Is it an online store or a physical store? If you own a physical you can't expect bitcoin to boost your sales cause we all know that there are a few bitcoin users if you compared it to the whole population tho Japan . An if its an online shop, regardless of boosting your sales I think the more payment methods the better so that your customers can choose the method that they're most comfortable with . Maybe the problem is in the way you promote it? I mean people needs to know that you're accepting it .

mynhpark

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Indeed, Japan will play host to the 2020 summer Olympics, the right occasion that will encourage visiting foreigners to adopt and make payments in bitcoin if the cryptocurrency continues to expand aggressively as a method of payment in the country. After gaining legal status as a payment method this month in Japan, Bitcoin could soon be accepted in over a quarter of a million storefronts and retail locations this year.

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Quote from: QuestionAuthority on April 10, 2017, 03:51:39 PM

Quote from: harizen on April 10, 2017, 03:31:56 PM

Quote from: LTU_btc on April 10, 2017, 03:23:46 PM

Now there are very good conditions to accept bitcoins as a payment on your business. There are many great payment processors. But business just don't see reasons why they need to accept bitcoins. Bitcoin community is still very very small and it's very low possibility that business customer is bitcoin user and he may want to pay with bitcoins.

But adding it as payment option will not harm them. It's not with the number of bitcoin users but it's just a simple additional payment option including the regular ones since on the other side of the note, we can speculate that 1/4 of the whole merchant's customer somehow uses bitcoin or even it's not it's fine.

A single customer that used bitcoin as payment method in that store can grab some other bitcoin users too especially if the said store is easy to access for it's co-bitcoin users. Just make sure that bitcoin payment will not be dependable on a third party services but rather own owner's system to somehow save some fees.

That sounds logical. Why wouldn't they just put a payment option for Bitcoin?

Profitable companies (large companies) take direction from consumer demands and react to real (or perceived) consumer complaints.

I haven't bought Adidas in a very long time because they use endangered kangaroo leather. Even though they agreed to stop using it I will never buy their products again. I don't trust them to do the right thing and will not spend my life supervising or researching what they are doing right now.

Companies that refuse to accept Bitcoin or stop accepting Bitcoin (like Microsoft) might see a perceived stigma to accepting it. Silk Road, pirate@40, MtGox, BFL, kidnappings, and other negatives have been hyped by the media to create a general perception of Bitcoin as "crime money". Why (as a decent law abiding citizen) would I shop at a place that gets part of its revenue from "crime money". That's the problem with negative press, it sticks with people a long time and is really hard to wash off.

Good points for sure, negative press is picked up quicker than positive news IMO
especially in todays world where "crime" accounts for a very large portion of news stories
along with politics [mostly negative]

For governments at the moment in general they are not seeing a benefit to their
exchequers from Crypto Curencies so they are all to happy to hear the negative
press except that is Japan who recently recognised Bitcoin as legal payment
https://news.bitcoin.com/japan-bitcoin-method-payment-april-1/

Now this is a really positive news story and hopefully in the short term
will see other countries following Japan's stance!
I think if you have a business in Japan the time is right to accept BTC

Yakamoto

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If I had a store that was selling something that people would like to buy using a medium such as Bitcoin, I'd sure as hell be opening it up as an option. There are essentially no downsides to using Bitcoin or giving people the option to use it, but, again, I have no store for people to buy from.

There are some ideas I have that I could branch out to at some point in the future, but for right now I don't need to do anything like that. Yet, anyways.

FlightyPouch

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Stores accepting bitcoin is not really that many, they are only few but they are starting to increase day by day. We have a store and I think that these is great, though as a business man, that spent my time, I mean all of my time making my store be successful, I can't afford to lose any profit. Bitcoin is now an option to pay on an online shop, but I can't accept bitcoin, not for now. Bitcoin is still making a lot of dumps, and as a businessman, I dont want to worry on another things, I just want to focus on my business.

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Quote from: QuestionAuthority on April 10, 2017, 03:51:39 PM

Quote from: harizen on April 10, 2017, 03:31:56 PM

Quote from: LTU_btc on April 10, 2017, 03:23:46 PM

Now there are very good conditions to accept bitcoins as a payment on your business. There are many great payment processors. But business just don't see reasons why they need to accept bitcoins. Bitcoin community is still very very small and it's very low possibility that business customer is bitcoin user and he may want to pay with bitcoins.

But adding it as payment option will not harm them. It's not with the number of bitcoin users but it's just a simple additional payment option including the regular ones since on the other side of the note, we can speculate that 1/4 of the whole merchant's customer somehow uses bitcoin or even it's not it's fine.

A single customer that used bitcoin as payment method in that store can grab some other bitcoin users too especially if the said store is easy to access for it's co-bitcoin users. Just make sure that bitcoin payment will not be dependable on a third party services but rather own owner's system to somehow save some fees.

That sounds logical. Why wouldn't they just put a payment option for Bitcoin?

Profitable companies (large companies) take direction from consumer demands and react to real (or perceived) consumer complaints.

I haven't bought Adidas in a very long time because they use endangered kangaroo leather. Even though they agreed to stop using it I will never buy their products again. I don't trust them to do the right thing and will not spend my life supervising or researching what they are doing right now.

Companies that refuse to accept Bitcoin or stop accepting Bitcoin (like Microsoft) might see a perceived stigma to accepting it. Silk Road, pirate@40, MtGox, BFL, kidnappings, and other negatives have been hyped by the media to create a general perception of Bitcoin as "crime money". Why (as a decent law abiding citizen) would I shop at a place that gets part of its revenue from "crime money". That's the problem with negative press, it sticks with people a long time and is really hard to wash off.

Good point, adding bitcoin as payment option will not harm them. Personally, I'm always prefer to use bitcoin-friendly services. Adding bitcoin as payment option can attract bitcoin users to their business.
But there are several reasons why why business don't accept bitcoins. Negative attitude from media is important factor. Also, there are still many business owners just don't know about bitcoin anything. And these who knows about it, afraid to accept bitcoins due to unstable price of it (bitcoin payment processors solves this issue)
And main factor, business just don't see demand from users to pay with bitcoins. If we would actively ask business to accept bitcoins, maybe they would consider to add it as payment option.

QuestionAuthority

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Quote from: harizen on April 10, 2017, 03:31:56 PM

Quote from: LTU_btc on April 10, 2017, 03:23:46 PM

Now there are very good conditions to accept bitcoins as a payment on your business. There are many great payment processors. But business just don't see reasons why they need to accept bitcoins. Bitcoin community is still very very small and it's very low possibility that business customer is bitcoin user and he may want to pay with bitcoins.

But adding it as payment option will not harm them. It's not with the number of bitcoin users but it's just a simple additional payment option including the regular ones since on the other side of the note, we can speculate that 1/4 of the whole merchant's customer somehow uses bitcoin or even it's not it's fine.

A single customer that used bitcoin as payment method in that store can grab some other bitcoin users too especially if the said store is easy to access for it's co-bitcoin users. Just make sure that bitcoin payment will not be dependable on a third party services but rather own owner's system to somehow save some fees.

That sounds logical. Why wouldn't they just put a payment option for Bitcoin?

Profitable companies (large companies) take direction from consumer demands and react to real (or perceived) consumer complaints.

I haven't bought Adidas in a very long time because they use endangered kangaroo leather. Even though they agreed to stop using it I will never buy their products again. I don't trust them to do the right thing and will not spend my life supervising or researching what they are doing right now.

Companies that refuse to accept Bitcoin or stop accepting Bitcoin (like Microsoft) might see a perceived stigma to accepting it. Silk Road, pirate@40, MtGox, BFL, kidnappings, and other negatives have been hyped by the media to create a general perception of Bitcoin as "crime money". Why (as a decent law abiding citizen) would I shop at a place that gets part of its revenue from "crime money". That's the problem with negative press, it sticks with people a long time and is really hard to wash off.

virtualkeybuyer

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I will look at the community that if they will know about bitcoin then I will not take time to implement the bitcoin payment system as I know many people will like to use bitcoin for their shopping as not many people want to exchange their bitcoin for fiat in order to stay away from high fees of exchange and they want to use bitcoin direct for shopping.

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I personally have long accepted Bitcoins as payment for goods and services.
But so far, this is a small target audience.

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Quote from: LTU_btc on April 10, 2017, 03:23:46 PM

Now there are very good conditions to accept bitcoins as a payment on your business. There are many great payment processors. But business just don't see reasons why they need to accept bitcoins. Bitcoin community is still very very small and it's very low possibility that business customer is bitcoin user and he may want to pay with bitcoins.

But adding it as payment option will not harm them. It's not with the number of bitcoin users but it's just a simple additional payment option including the regular ones since on the other side of the note, we can speculate that 1/4 of the whole merchant's customer somehow uses bitcoin or even it's not it's fine.

A single customer that used bitcoin as payment method in that store can grab some other bitcoin users too especially if the said store is easy to access for it's co-bitcoin users. Just make sure that bitcoin payment will not be dependable on a third party services but rather own owner's system to somehow save some fees.

QuestionAuthority

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Quote from: LeGaulois on April 10, 2017, 02:36:59 PM

@QuestionAuthority

Yes, it's a way to say: I accept your Bitcoin but I don't want to be related to Bitcoin. See the irony ? Grin

Regarding big companies such as Microsoft, Expedia, Dell ect I think one of the reason could be about their own reputation that they can't really take the risk to be dammaged, as a little thing can make large damages this days. For exemple here you see people asking question if Bitcoin is helping terrorists but outside here there are people really thinking Bitcoin helps criminals, terrorism, ect... With a few Youtube videos, news articles, mixed with Alex Jones and others it could lead that people will say those big companies are funding ISIS

Bitcoiners pushing their beloved Bitcoin are starting in the wrong place. As you imply, don't worry about businesses. They will accept dehydrated fish if people start assigning value and spending dehydrated fish. Businesses don't care about anything but profit. Profit comes from customers spending. Create an army of average regular people spending Bitcoin and businesses will follow like moths to a flame. Doing it the other way around is just nuts. It won't work.

But how do you get people to buy and hold Bitcoin? That's the real problem.

LTU_btc

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Now there are very good conditions to accept bitcoins as a payment on your business. There are many great payment processors. But business just don't see reasons why they need to accept bitcoins. Bitcoin community is still very very small and it's very low possibility that business customer is bitcoin user and he may want to pay with bitcoins.

Devboy

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In my opinion, I thought that as Bitcoin most powerful crypto currency however, yet could not make a position like it's so unstable that's never suggest in our srore or other business. Need to pretty stable before accepting it anywhere.

Pettuh4

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I'm hoping to open an online gambling websites by the close of the year so hopefully Bitcoin will be one of the accepted currencies just like directbet and the others are doing.

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Quote from: LeGaulois on April 10, 2017, 09:26:09 AM

Where did you got this 15% incrase in sales ? I am curcious.. I have see business owners started to accept Bitcoin and it doesn't represent more than 1% of theirs sales and for some 0% ! I remember a restaurant accepting bitcoin and when i wanted to pay they guy was not even to remember where he kept his adress, he said i was the first to ask paying the note with bitcoin

Indeed even with exchanges, they usually have at most 5%, probably OP was thinking of setting Bitcoin conversion to 85% having 15% more from the original price of Bitcoin which I think is ridiculous. If customer known that the store converts Bitcoin at 85% of the current rate then they will avoid the store like a plague.

LeGaulois

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@QuestionAuthority

Yes, it's a way to say: I accept your Bitcoin but I don't want to be related to Bitcoin. See the irony ? Grin

Regarding big companies such as Microsoft, Expedia, Dell ect I think one of the reason could be about their own reputation that they can't really take the risk to be dammaged, as a little thing can make large damages this days. For exemple here you see people asking question if Bitcoin is helping terrorists but outside here there are people really thinking Bitcoin helps criminals, terrorism, ect... With a few Youtube videos, news articles, mixed with Alex Jones and others it could lead that people will say those big companies are funding ISIS

QuestionAuthority

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It doesn't matter how many businesses accept Bitcoin if you can't convince the average consumer to use them (Not miners that end up with Bitcoin and need something to do with them, I mean real people). Eventually, if no one spends Bitcoin the business that started accepting them will stop because there's no reason to continue. I explain the reason here: https://bitcointalksearch.org/topic/m.18527065

Microsoft stops accepting Bitcoin

Quote

Much was made of Microsoft’s move two years ago to start accepting Bitcoin as a form of payment for purchasing content from its online store.
The situation has, however, quietly changed, as the computer giant has recently added a note to its website revealing it’s no longer accepting the cryptocurrency in the Microsoft Store on Windows 10 devices.
“You can no longer redeem Bitcoin into your Microsoft account,” the message says, though adds that existing balances in user accounts “will still be available for purchases from Microsoft Store, but can’t be refunded.” So to be clear, any funds in your account now are good to use, but forget trying to make any new deposits into your account using Bitcoin.

Source: http://www.digitaltrends.com/mobile/microsoft-drops-bitcoin-for-windows-store/

Those businesses that do accept Bitcoin don't really accept Bitcoin:

Quote

Almost none of the businesses mentioned above technically accept bitcoin. Instead, they partner with a middleman—generally either Coinbase or BitPay—who takes a customer's bitcoin, immediately converts it into cash, and then deposits the cash in the company's bank account.
In other words, Dell, Expedia, Microsoft, and Time, Inc. don't actually "accept" bitcoins, per se. They accept U.S. dollars. It's their bitcoin processing partners who accept bitcoin. They, in turn, make money on transaction fees (in the case of Coinbase), or by selling their software and services as a subscription (in the case of BitPay).
BitPay, which has partnered with Microsoft, Newegg, and other merchants, confirmed to MONEY that the majority of its major clients ask that their bitcoins be instantly converted to cash. "I would say as a general trend most of our larger business do choose a settlement in 100% U.S. dollars because that’s how they do their accounting and finance," said Tony Gallippi, co-founder and executive chairman of BitPay.

Source: http://time.com/money/3658361/dell-microsoft-expedia-bitcoin/

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Most business aren't going to use Bitcoin based on the fact that they're not educated on how everything works and like anything else in the world the people are going to be skeptical to change and to be using something so drastic and new in general. It's not like people to respond to change so quickly and they're going to have to be shown a bit of a nudge for people to be able to think of accepting an entire new currency.

Quote from: LeGaulois on April 10, 2017, 09:26:09 AM

Where did you got this 15% incrase in sales ? I am curcious.. I have see business owners started to accept Bitcoin and it doesn't represent more than 1% of theirs sales and for some 0% ! I remember a restaurant accepting bitcoin and when i wanted to pay they guy was not even to remember where he kept his adress, he said i was the first to ask paying the note with bitcoin

Yeah, this is something cool and such for people to be able to accept at first but it really doesn't hold much ground as people don't really use Bitcoin in their everyday lives. They're going to have to use Bitpay or one of those easy to use processors.

It's a pretty drastic change for a business to make so people have to be educated beforehand.

jakelyson

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There is not that much bitcoin users yet in my country, I doubt adding bitcoin as a payment method will increase the sale of business here. But I guess it is worth the try if this will make more people aware of bitcoin. But increasing the sales, that may come later after you establish bitcoin clientele.

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