Doing business with bitcoin.

[JeffBrad12]

since volatility is one of challenge bitcoin present, if a customer make a payment using bitcoin and then bitcoin price was at $94 and the price drop to $80 refund won't take place immediately because of the decrease in bitcoin price, so that is where refund policies will apply.

And refund policies in bitcoin are guidelines that outline the rules and procedures for returning payments to customers who along the line return back the goods they bought from the business owner, for some reasons best known to them, which can be possible in most businesses.

honestly that's a lot of complexity layer for a business to implement, if I were to start business that accept bitcoin I'd just use third party payment gateway, let them handle the volatility, we only need to pay small fee to avoid such complexity.
I've used plenty of crypto payment gateways most of them aren't concerned about volatility because maybe they already have countermeasure in place.

[Marvell1]

Actually using Bitcoin for business will help spread more information about Bitcoin because some customers who might not know what Bitcoin is might have the opportunity to understand that it can also be used in doing business via payment methods. However before considering to use Bitcoin for business, you should also be prepared for the risk as Bitcoin price is not stable, which means you must also be ready for a little loss at the moment, although there are more benefits attached to it.

Many people think that using bitcoin as a payment method will boost its popularity but I don't think so. Most people are satisfied with their current payment methods, would they want to learn and use a new method that doesn't benefit them? Like us, if bitcoin was only used as a currency and did not generate any profit, would we care and support it? We are investing in bitcoin and making money from it but encourage people to use bitcoin as a means of payment. I see something is not quite right.

What are the benefits of using highly volatile assets as a payment method? Some people have made similar comments but I have not seen anyone go into detail about the huge benefits of adopting bitcoin into business. Honestly, I find using bitcoin as a payment method has more disadvantages than advantages.

[bitcoin_mining]

One of the most talked about and most popular digital currency today is Bitcoin. Currently we see a large number of investors worldwide investing in Bitcoin and many big companies are involved in this investment. As time goes by the popularity of Bitcoin is expanding and the value of Bitcoin is also increasing. At one time people did not discuss Bitcoin much but nowadays many people are discussing Bitcoin and many are investing in Bitcoin regularly. Many large organizations have added Bitcoin as their company's payment system, although this has not yet spread globally. But with the way Bitcoin is steadily increasing in popularity, in a few years we may see well-known companies from different countries getting involved with Bitcoin and that will be good news for every investor.

[Synchronice]

I came to understand somethings about bitcoin if you are running business with it. Bitcoin can offer you numerous benefits, including global reach, increase in security and lower transaction fees. However bitcoin also present someone unique challenges which can be tackled if you implement best practices. Those unique challenges which bitcoin present are security risks, regulatory uncertainty and volatility, but if you can understand this factors I just listed as the challenges which bitcoin present and implement best practices, businesses men and women can successfully make bitcoin as a payment method in other for them to capitalize on bitcoin potential.

-best practices like using a secure payment processors, like partner with reputable payment processors that support bitcoin, such as coinbase and bitpay commerce.

-and Secondly By Displaying your prices both in fiat currency and in bitcoin to avoid confusion.

- and thirdly By informing your customers about bitcoin payment processing, including exchange rates, fees and refund policies.
Note this are just the general best practices I can mention now, though there are other best practices which business owners can apply, but I want to make this thread breaf for easy reading.
So carry out your own research and see more of the best practices.

Though this is just my own opinion but I don't know how others we see it.

What kind of security can Bitcoin increase for business? In terms of payment, probably traditional payment method with cards will offer you more security and less responsibility because everything is solved by bank and you don't have to worry about anything.
Transaction fees are debatable. Sometimes Bitcoin can lead to lower transactions fees and sometimes it can be very expensive.

But I still don't understand what you want to say. I understand the title and can say some things about this but what's your point? The things that you mention are not really the best benefits of Bitcoin. Bitcoin benefits only come when you want to find other ways to promote your business (crypto word can help you to gain attention of media and get ranked in search engines) and when you want to be fully independent and run your own payment gateway (Btcpayserver) instead of relying on 3rd parties.

[moneystery]

the problem people have now when accepting payments using bitcoin in their business is just regulation... because in some countries, payments using bitcoin are prohibited and people who use bitcoin in their payments can be fined and their businesses can be temporarily frozen. this is a problem for business owners who want to accept foreign payments via bitcoin, they just can't just put it in their business, and make people pay using bitcoin. even though there are payment gateways & processors that allow automatic conversion to fiat, they still only support a few countries and usually the fees are more expensive. so this is still an obstacle for business owners.

[Oluwa-btc]

I came to understand somethings about bitcoin if you are running business with it. Bitcoin can offer you numerous benefits, including global reach, increase in security and lower transaction fees. However bitcoin also present someone unique challenges which can be tackled if you implement best practices. Those unique challenges which bitcoin present are security risks, regulatory uncertainty and volatility, but if you can understand this factors I just listed as the challenges which bitcoin present and implement best practices, businesses men and women can successfully make bitcoin as a payment method in other for them to capitalize on bitcoin potential.

It's not a big deal doing business with Bitcoin but it necessarily demands that regulations surrounding it should be followed duly to avoid restrictions of any sort, people tend to do business with Bitcoin but demand it be converted to their legal tender for easy access,also doing business with Bitcoin is quite at ease except for the higher transactions fees and like you said your customers must be aware of all the necessary policies guiding the use of it.

[slapper]

Bitcoin is freedom, but freedom requires understanding. It’s about unplugging from a fragile system. But that transition isn’t smooth, it isn’t immediate, and it isn’t for everyone right now. Look at your environment. Look at your industry. Look at yourself. Are you in a high-regulation country? You’re playing with fire. Are your customers crypto-savvy? Then BTC payments make sense. Are you a small local shop? Then maybe you don’t need Bitcoin yet

Yes, security is an issue. Yes, volatility is a factor. But adaptation is the most important. People want Bitcoin to function like fiat. It doesn’t. People expect stability. It won’t. People assume the rules will stay the same. They won’t. Business owners don’t need to just “accept Bitcoin”. They need to understand what they’re opting into. They need to know how to hold, spend, convert, hedge. They need to decide when Bitcoin is a tool and when it’s a liability

[SuperBitMan]

the problem people have now when accepting payments using bitcoin in their business is just regulation... because in some countries, payments using bitcoin are prohibited and people who use bitcoin in their payments can be fined and their businesses can be temporarily frozen. this is a problem for business owners who want to accept foreign payments via bitcoin, they just can't just put it in their business, and make people pay using bitcoin. even though there are payment gateways & processors that allow automatic conversion to fiat, they still only support a few countries and usually the fees are more expensive. so this is still an obstacle for business owners.

Yeah if your country don't support the use of Bitcoin as a means of payment then using Bitcoin in your business will be a very big problem just like you said one may be putting his or her business at risk if he or she continues using it, there are some countries that till date they still see the use of cryptocurrency in there countries as a problem some countries says using cryptocurrency in there country will reduce there Economy but that's not true what countries should be doing is making of laws that will regulate the use of cryptocurrency in there country, for me I see government that are not supporting cryptocurrency in there countries as people who are drawing there selves backward because cryptocurrency create a lot of business opportunities for people and even as a government they can be investing in Bitcoin and getting huge amount of profit from it some countries has already started doing this and in some years to come they will start benefiting massively from it.
If you are in a country that accept the use of Bitcoin as a means of payment and you have a business you can accepting Bitcoin it is safe.

[tabas]

honestly that's a lot of complexity layer for a business to implement, if I were to start business that accept bitcoin I'd just use third party payment gateway, let them handle the volatility, we only need to pay small fee to avoid such complexity.
I've used plenty of crypto payment gateways most of them aren't concerned about volatility because maybe they already have countermeasure in place.

Some people don't mind volatility, and they will simply pay it through for experiencing it, too. But for the businessmen, it's an important matter because every cent counts for them and if this is going to help them save a lot of energy and money by availing a third party service such as bitpay to handle the volatility and convert it quickly into fiat, that's the best option for them to make. While some businessmen might probably just want to DCA through payments of their customers and go straightly direct to their wallets by having it a direct transfer if asked by a customer.

[Cryptohygenic]

Doing business with bitcoin is best convenience for easy payments due to it fast response and corespondents of transaction networks being facilitated to fasten transactions.
Although the transaction fees might only be favourable for users making payments of a higher amount while it taunts of users making small amount of payments especially when there is network jam that transaction fees will be increased in other to break the breach holding the transaction.
It will also serve as alternative means of assets for business people but will suffer it during the dip because they will keep counting looses instead of profits with their volatile holding on received payments with bitcoin.

[kotajikikox]

Some people don't mind volatility, and they will simply pay it through for experiencing it, too.

Exactly. Right now not many businesses offer bitcoin as a payment method so to see one is a novelty and people would want to try it out regardless if they actually are interested in your business or not. That is how dedicated crypto enthusiasts are.

But for the businessmen, it's an important matter because every cent counts for them and if this is going to help them save a lot of energy and money by availing a third party service such as bitpay to handle the volatility and convert it quickly into fiat, that's the best option for them to make.

Exchanges will still take some fees on their customers. Well it’s gonna be part of the expenses now if the business wants to go into that direction.

[Sticky Bomb]

the problem people have now when accepting payments using bitcoin in their business is just regulation... because in some countries, payments using bitcoin are prohibited and people who use bitcoin in their payments can be fined and their businesses can be temporarily frozen. this is a problem for business owners who want to accept foreign payments via bitcoin, they just can't just put it in their business, and make people pay using bitcoin. even though there are payment gateways & processors that allow automatic conversion to fiat, they still only support a few countries and usually the fees are more expensive. so this is still an obstacle for business owners.

Regulation, yes and another thing is Bitcoin fees which aren't so cheap, setting the correct fees, and the time it takes for funds set over Bitcoin network to be confirmed and all that. Also after paying fees, the value of your Bitcoin would reduce since fees are taken from the transaction outputs.

I still feel more comfortable making my little transactions in USDT since I can take advantage of BSC free transfers and still liquidate it easily when I want. I only keep my holdings in Bitcoin since I'm not spending from it anytime soon.

[libert19]

plenty of small business accepted bitcoin these days whether through payment gateway or directly and so far it's been doing so well and it's true that you will have wider audience for your business if you accept BTC.
the fact that it's just a lot more convenient than credit card and safer (no need to worry about your credit card credentials being stolen) is such a huge advantage.
unfortunately though, world still trapped in traditional finance.

World will stay 'trapped' in traditional finance until there is crypto that is free and instant to transact. Why should I pay with BTC — pay dollar or so fee and wait for confirmation while I can simply pay via card and payment is instant?

[gunhell16]

Bitcoin is freedom, but freedom requires understanding. It’s about unplugging from a fragile system. But that transition isn’t smooth, it isn’t immediate, and it isn’t for everyone right now. Look at your environment. Look at your industry. Look at yourself. Are you in a high-regulation country? You’re playing with fire. Are your customers crypto-savvy? Then BTC payments make sense. Are you a small local shop? Then maybe you don’t need Bitcoin yet

Yes, security is an issue. Yes, volatility is a factor. But adaptation is the most important. People want Bitcoin to function like fiat. It doesn’t. People expect stability. It won’t. People assume the rules will stay the same. They won’t. Business owners don’t need to just “accept Bitcoin”. They need to understand what they’re opting into. They need to know how to hold, spend, convert, hedge. They need to decide when Bitcoin is a tool and when it’s a liability

Bitcoin is freedom, but freedom requires understanding.

What you said is great dude, it means a lot, and it's also true because understanding bitcoin is really needed. It's impossible to be without knowledge here.
Because knowledge is what will show us the true beauty of bitcoin for every individual who believes in it.

So if you make this payment option your business, you should really know the pros and cons of it. Now if your intention is to accumulate bitcoin and hold it long-term,
I think it's fine, particularly if you have several businesses.

[BIT-BENDER]

It is undisputable that there are many benefits to using bitcoin. There are also some downsides. If you live in a country where bitcoin is accepted you have overcome the first big hurdle. However, in a country where bitcoin and crypto transactions are already banned, there is a slim chance that implementing bitcoin as a payment method will be profitable for your business. However, peer to peer transactions for business such as payment for a house, a car can be done in secret.

The world is fast becoming a global niche and there are very few countries that you aren't allowed to use Bitcoin and mind you even in countries that are openly against Bitcoin there are still lots of people using Bitcoin there.
My point is that it is becoming less stringent using Bitcoin and slowly the restrictions will further drop. This is actually a good time to start integrating Bitcoin payment into your business.

[YOSHIE]

Doing business with bitcoin.

In the past, it might be true that business in digital/bitcoin currency is profitable, but I don't think it is for now, you must take into account taxes in your country, my country applies 12% for this Bitcoin transaction in 2025 Valid January 1, 2025, I think it's a bad idea to do business in Bitcoin, where the economy of the community is now narrow, so people think 100 times to make transactions in Bitcoin.

I think many crypto users objection to the 12% tax, plus the price of bitcoin unstable, for example you are a pre -set property business price of $ 100 + tax, if Bitcoin when you transact down your property price is no longer $ 100 maybe it can So $ 80 you will suffer losses in your business, it takes a long time you have to wait for the price of bitcoin to skyrocket, it's a business risk in bitcoin, but if your business is to save the 5-10 ahead, Maybe it's good business in bitcoin, is that possible your capital is immersed, I don't think it's.

[RockBell]

One of the most talked about and most popular digital currency today is Bitcoin. Currently we see a large number of investors worldwide investing in Bitcoin and many big companies are involved in this investment. As time goes by the popularity of Bitcoin is expanding and the value of Bitcoin is also increasing. At one time people did not discuss Bitcoin much but nowadays many people are discussing Bitcoin and many are investing in Bitcoin regularly. Many large organizations have added Bitcoin as their company's payment system, although this has not yet spread globally. But with the way Bitcoin is steadily increasing in popularity, in a few years we may see well-known companies from different countries getting involved with Bitcoin and that will be good news for every investor.

Anyone who wants to do business with Bitcoin is a matter of choice and it actually favors the receiver over the sender because there is a high chance that the price will go up that is if the receiver decides to keep it, and those receiving Bitcoin are one way or the other adverting their business because it will make them stand out because how many businesses accept bitcoin so it is more of a strategy.

bitcoin was not this popular but things are not looking fascinating and the interest of people has increased they now see it as an asset and everyone wants to invest because you can invest as little as you can and then gradually, you start adding up so because of these opportunities people are gaining more interest because only a few investments will give you this opportunity that bitcoin comes with.

And if a whole government can have an interest in investing in Bitcoin then it is only a matter of time before things start to change, even companies will start accepting it because there is going to be a lot of improvement.

[Faisal2202]

the problem people have now when accepting payments using bitcoin in their business is just regulation... because in some countries, payments using bitcoin are prohibited and people who use bitcoin in their payments can be fined and their businesses can be temporarily frozen. this is a problem for business owners who want to accept foreign payments via bitcoin, they just can't just put it in their business, and make people pay using bitcoin. even though there are payment gateways & processors that allow automatic conversion to fiat, they still only support a few countries and usually the fees are more expensive. so this is still an obstacle for business owners.

I have seen, some really rich people don't care about high fee they just order the item, but for a business owner to grow faster and make more profit, they have to take this factor into account from the buyers point of view otherwise they would not be getting much orders.

The regulatory restrictions are not that big because someone wants to pay for the items or services they can easily pay with BTC, and conversion is not that high even, we can do p2p and etc. The big problem in my sight is transaction fee if we are making the tx from non custodial wallet.

[passwordnow]

So if you make this payment option your business, you should really know the pros and cons of it. Now if your intention is to accumulate bitcoin and hold it long-term,
I think it's fine, particularly if you have several businesses.

It's fine if that's the main reason why a businessman wants to accept BTC and that's to have more. There is nothing wrong with that and it's even greater with that way of accumulation. But for the sake of operation cost, there is a need to adjust with that because no businessman will profit if most of the money that gets in will also come out and goes straight to another investment. It's an ideal way of accumulating but if it's about the breakdown of investment, capital, expenses, salaries, etc. There is a need to break that down in order for the businessman to continue staying relevant to his venture.

[Roseline492]

One of the challenges of doing business with Bitcoin is the issue of high fees, I decided to mention that since in your message you mentioned Bitcoin usage for business advantage as low fees, no mate that is not true and blockchain fees have been one of the constraints of Bitcoin payments adoptions by businesses, every other advantage you mentioned are right and even the risks too, volatilities is another big challenge for Bitcoin payments on goods, but along the line, we can still meet at a balanced ground where Bitcoin could become the mode of payment for cross borders businesses.

no I disagree with you on this one, because you can't compare our traditional transaction fees to the one of bitcoin transaction fees, because bitcoin transaction fees are lower than the traditional transaction fees.

Op I wonder why you disagree with Odusko when he is very right about the fees he meant, if every transactions the fees are more than the one on Bitcoin how convenient would it be in terms of affordability, because if we presume Bitcoin fees at $3 then possibly it will be higher in your country and that's no good for business that usually depends on transactions because it will make them to only use a manual transaction which can be payment in cash so that neither of the party will be charged a fee. However I agree with Odusko because I have not witness a big fees since a started transactions in my country, sometimes I transact free of charge but in Bitcoin whether less or big, fees are inevitable and the equivalent is something I cannot prefer over my traditional fees in transactions.