It will help your business to grow fast in the nearest future and customers will have the opportunity to choose an option to make payment,it will attract more customers to you. Since it is an online business,you will need ads for awareness. Bitcoin is global so you will have the advantage of having customers from outside your country,if there can be access for that. You can keep your profit in a long term run.
Topic: Will it be profitable for the business? - page 8. (Read 1835 times)
volatility is only a problem if you have a static price advert that needs to stay at the same advertised bitcoin amount for a month+
Volatility is some of the reason why some crypto enthusiast love Bitcoin and it is as well a probe for the currency to function as a measure for purchases due to its volatile nature as one can end up at a lose or profit with the next minute. I think those who have adopted bitcoin means of payment would be in the better position to share an experience here but, through the Volatility and bear moves of the market, stablecoins have been the asylum for most traders and it could still serve a purpose in that regard. Although, I won't advise you leave it in which ever stablecoin for way too long. 
It would be most profitable for your business if the BTC you'll be accepting as payment is for a long term investment purpose, that is every payment received in BTC stays in the wallet for at least a minimum of 4-5 years, then it would be profitable for your business because BTC delivers good returns in the long run.
But sometimes this method is not cheap for business people because after all they still need the money to keep their business running. Because in Bitcoin there are funds for the business operations themselves and various other business needs. So, if these funds are stuck in Bitcoin investment for several years, then the businessman will find it difficult to get operational funds after a while. Especially if it's just one business. This may be good for future investment, but not for running a business. So, I'd rather think like @franky1 with a marketing and transaction strategy like that, it's more profitable for businesses and attractive to users or customers. However, in order for the capital to continue to rotate, the owner must be very clever in seeing market conditions and when is the right time to immediately cash out the Bitcoin into their fiat. regardless if their profits will still be in Bitcoin or follow-up to change to fiat, that is of course another personal consideration. 
It's a give or take situation but it will depend on the understanding of both you and those you're selling your services to. I mentioned understanding because of the fluctuation in value that is often the case with Bitcoin transactions. To resolve this, both parties should check the value when it was sent out and not when it was received. That's the method I use when transacting in Bitcoin. So, to that effect I make bold to say the question you seek response to is already answered. Go ahead and accept Bitcoin for your business. It's feasible and easy to transact with.
How about you conduct a survey to know how many of your customers would be willing to pay in Bitcoin? This would let you know if there's a market for Bitcoin payment option with the service you're providing
If at the end it proves that there is, all you need to do is to use the most suited payment gateway for your business, this would make volatility not to be an issue at all, since the payments would be converted to fiat instantly.
Making a survey will let us know the people's mind. For bitcoin and other cryptocurrencies as payment we doesn't need much of process to be done. Just a wallet creation is more than enough. So, when we've planned of adding payment access just make a gateway. It is upto the users whether to use it or not. If at the end it proves that there is, all you need to do is to use the most suited payment gateway for your business, this would make volatility not to be an issue at all, since the payments would be converted to fiat instantly.
In my opinion you can use bitcoin as a secondary payment option for now, just to see for some months if your customers are interested in paying with bitcoin. Make it easy for them to pay with bitcoin. A well designed payment page is something that interest buyer to make the payment.
Increase your profit margin if you have a scoop for that, it will cut the chance of losing your profit from the sale. The thing is you can not fix the selling price in bitcoin, you have fix it with USD/EUR and convert the USD/EUR price with bitcoin. You can add that converter to the payment page using any currency converter tool.
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But now if IBut now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
Increase your profit margin if you have a scoop for that, it will cut the chance of losing your profit from the sale. The thing is you can not fix the selling price in bitcoin, you have fix it with USD/EUR and convert the USD/EUR price with bitcoin. You can add that converter to the payment page using any currency converter tool.
Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.
If you cant bare up the volatility of Bitcoin or cryptocurrencies as a whole then its better not to stress yourself out on accepting it on your business.Volatility could neither be your enemy or your friend.I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.
If you are that someone who do goes for long term and dont mind about volatility and wont be actively using up those fiat conversions and would be willing for those profits to sit on crypto form
then it wont really be bad on accepting Bitcoin but if you dont like that movement or doesnt really like to see that profits is going down or lesser then
its better not to proceed with this plan.Its up to your own choice yet you could see that there are already lots had been accepting Bitcoin or crypto payment into their businesses.
Yes, it depends on how he look at btc market as a potential payment method on his business.
If he is worried about volatility but still want to accept crypto, maybe he can go for stable coins.
The volatility in btc is still here and won't go away anytime soon, so he should really consider his options on this move.
If he doesn't want to lose but still want to accept btc, he can always convert this to his fiat once received but it would be a tedious work for him.
The OP needs to contemplate on why he is doing this move, is it just because he wants to be in and say to his customers that he is accepting btc or does he believe in btc as a good alternative in payment method that he can offer to his clients?
Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
This is now left to you to decide on a choice to make, if you accept bitcoin it will help attract those Willing to pay in bitcoin into your patronage, remember bitcoin is volatile, so therefore there's probability that you make more money on top the paid amount for your service if the bitcoin market is running bull and same you can loose abit if it's on bear direction, but you need to know that it's not like other coins that will loose value entirely to zero when falling, or better still convert them to stable coin whenever you receive your payment to retain it value, that's why i insist that the results you arrived at depends on you and how you handle the situation for making the payment work for you.
But don't intend for long term holding of the Bitcoin you receive as payment so try as much as possible to always convert them into your local currency at regular intervals because just as you said earlier, Bitcoin volatility can greatly affect your sale income in left for a long.
Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.
If you cant bare up the volatility of Bitcoin or cryptocurrencies as a whole then its better not to stress yourself out on accepting it on your business.Volatility could neither be your enemy or your friend.I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.
If you are that someone who do goes for long term and dont mind about volatility and wont be actively using up those fiat conversions and would be willing for those profits to sit on crypto form
then it wont really be bad on accepting Bitcoin but if you dont like that movement or doesnt really like to see that profits is going down or lesser then
its better not to proceed with this plan.Its up to your own choice yet you could see that there are already lots had been accepting Bitcoin or crypto payment into their businesses.
How about you conduct a survey to know how many of your customers would be willing to pay in Bitcoin? This would let you know if there's a market for Bitcoin payment option with the service you're providing
If at the end it proves that there is, all you need to do is to use the most suited payment gateway for your business, this would make volatility not to be an issue at all, since the payments would be converted to fiat instantly.
If at the end it proves that there is, all you need to do is to use the most suited payment gateway for your business, this would make volatility not to be an issue at all, since the payments would be converted to fiat instantly.
but in this case, my business needs to keep my capital in a cycle to purchase products or goods. I think it would be better to use a payment gateway for business through which Bitcoin to other stablecoins or currencies can be converted immediately.
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And can you please suggest me some reliable payment gateway which is also easy to use.
Okay then, since your business requires every income you make as you have to put back all of it into the business, so you cannot do long term holding, a payment gateway then is your best option.~~~~~~
And can you please suggest me some reliable payment gateway which is also easy to use.
As far as payment gateways being reliable and easy to use is, you will have to choose based on the coin or coins you want to receive and if you want to do KYC or not, fees, etc. There are many options to choose from, and i have a good thread that will help you choose what you need, and if you want privacy as a priority too:
https://bitcointalksearch.org/topic/list-bitcoin-payment-processors-5259548
Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
So lets ignore the volatility of the market and consider the positive impact accepting Bitcoin as an addition means for payment will bring to your business. Firstly you'll be attracting a new market audiences that are crypto minded which brings about more sales for your product and increase the revenue that you're generating on your page.
You aren't investing so you shouldn't be that concerned about the volatility of Bitcoin, you're running a business as such your capital should always be your number one priority then next to the profits therefore you can always trade the Bitcoin received to stablecoin or fiats. This can be done automatically through some service providers or you do it personally immediately you receive the coins.
What I think you should be most concerned about is if Facebook permit the accepting of Bitcoin as a means of payment (assuming you're doing it officially on the site) so as to prevent them shutting your page down and you losing all your customer as a result.
Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.
Accepting bitcoin in your business will boost and maximize your future profits. Just don’t be bother with its current value and instead, accumulate more of it. Surely, you will gain huge amount of profits when time comes that bitcoin value will hit its new all time high, but that will only happen if you are highly determined to consider bitcoin as your long term investments. As bitcoin is best for long term investment more than any other cryptocurrency. I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.
Consider it as providing additional payment option to the clients. At any choice never misunderstand adding bitcoin as payments will bring profit. One thing what we do now will reflect in the future. Maybe now we don't make money out of cryptocurrency into business as there is not much of people using it. With time this will change and at some point we'll see regular payments happening through bitcoin. It is like keeping ourselves prepared for the future advancement of business.
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It would be most profitable for your business if the BTC you'll be accepting as payment is for a long term investment purpose, that is every payment received in BTC stays in the wallet for at least a minimum of 4-5 years, then it would be profitable for your business because BTC delivers good returns in the long run.
BTC would surely be good for your business because it would attract more customers for you, people that are looking for ways to spend their BTC would see your business as a good option, and that will increase customers for you. If you do not want to hold BTC because of volatility, you can as well accept it through a payment gateway and receive BTC payments in the currency you choose.
I don't think there is any other downsides to an addition of BTC payment option in your business, except it is unlawful where you reside.
I also know that it is definitely profitable to hold Bitcoin for the long-term, but in this case, my business needs to keep my capital in a cycle to purchase products or goods. I think it would be better to use a payment gateway for business through which Bitcoin to other stablecoins or currencies can be converted immediately. Because if you look at the current situation, only 4.2 percent of people around the world use cryptocurrency, so holding Bitcoin payments for a long time can be risky for business. And can you please suggest me some reliable payment gateway which is also easy to use.BTC would surely be good for your business because it would attract more customers for you, people that are looking for ways to spend their BTC would see your business as a good option, and that will increase customers for you. If you do not want to hold BTC because of volatility, you can as well accept it through a payment gateway and receive BTC payments in the currency you choose.
I don't think there is any other downsides to an addition of BTC payment option in your business, except it is unlawful where you reside.
Get more payment options for your business and reap the benefits. Adopting bitcoin or crytpo can actually make you double your profit if you are able to hold onto it for a certain amount of time. But it will also cost you over time if you don't have the extra budget to finance the business. Anyway you don't need to hold your bitcoin or crypto after receiving payment, I mean you can instantly convert them to fiat in just a few moments but it just depends on what your adoption goals are.
I think crypto payment options will be more and more popular in the future and the demand for these payment options will increase. Your first step might be to adopt it now rather than waiting any longer, it will put your business ahead of others in terms of payment options.
I think crypto payment options will be more and more popular in the future and the demand for these payment options will increase. Your first step might be to adopt it now rather than waiting any longer, it will put your business ahead of others in terms of payment options.
Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
This is now left to you to decide on a choice to make, if you accept bitcoin it will help attract those Willing to pay in bitcoin into your patronage, remember bitcoin is volatile, so therefore there's probability that you make more money on top the paid amount for your service if the bitcoin market is running bull and same you can loose abit if it's on bear direction, but you need to know that it's not like other coins that will loose value entirely to zero when falling, or better still convert them to stable coin whenever you receive your payment to retain it value, that's why i insist that the results you arrived at depends on you and how you handle the situation for making the payment work for you.
Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions raised in my mind.
If I must give my opinion on this subject matter of accepting bitcoin for your job it may be a good way to diversify your payment options, most especially when there is network failure with other payment options already known and used. I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions raised in my mind.
But you must consider making your price change in DCA so that even if the price of Bitcoin dropped it won't affect your payment amount since you are charging per dollar cost but receiving payment in bitcoin.
And also you should try not to hold your bitcoin for the long term since bitcoin is highly volatile and it price can drop or raise at regular intervals.
This way you will have some hedge against volatility.
When you are doing business, such as selling and buying, you will require capital. You must invest from your own pocket to purchase and sell products. As a result, money is circulating. In that case, I believe you should maintain your business profits in crypto since it is volatile. As a result, you are not losing money on your initial investment. Your business will be unaffected if the cryptocurrency market falls. So, yes, you can accept cryptocurrency payments in this manner. The rest is up to you.
Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.
In many cases, a portion of payment must be made before the work, in these cases, it is still profitable to use Bitcoin. I work at Upbarak and my service provider gives 60% payment to my account before the work has been done. I never see volatility causing a problem with them.
If you have random daily payments I don't think volatility is a big issue. Because in the case of BTC there are usually no such big dumps on a daily basis that you have to count a lot of losses. Another thing is, you can keep your funds in a stablecoin and convert it to BTC on payment day, reducing your risk.
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