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.
Topic: Will it be profitable for the business? - page 9. (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+
however there are new style ads that can be custom to the viewer that auto updates. so that you can have a price that matches the time its viewed
you can also have just a "pay with bitcoin" and then at checkout, when you have added up the total of goods and delivery then have the conversion
after all USD-EUR changes alot
bitcoin has changed by +20% -20% of a $20k average for 6 months ($24k-16k)
USD-EURO has seen a 1.16-0.96 (20%)
USD-GBP has seen a 1.36-1.07 (30%)
so dont worry to much. many people see many prices change by the week.. with products selling for 20-50% "on sale discount"
if you simply have something at a slight premium exchange rate where you make a couple % extra to cover any short term variance you should be good
however there are new style ads that can be custom to the viewer that auto updates. so that you can have a price that matches the time its viewed
you can also have just a "pay with bitcoin" and then at checkout, when you have added up the total of goods and delivery then have the conversion
after all USD-EUR changes alot
bitcoin has changed by +20% -20% of a $20k average for 6 months ($24k-16k)
USD-EURO has seen a 1.16-0.96 (20%)
USD-GBP has seen a 1.36-1.07 (30%)
so dont worry to much. many people see many prices change by the week.. with products selling for 20-50% "on sale discount"
if you simply have something at a slight premium exchange rate where you make a couple % extra to cover any short term variance you should be good
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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.
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