Does a business need to accept payments in cryptocurrency?

[Dice]

In my opinion .Yes, a business should consider accepting payments in cryptocurrency. Cryptocurrency offers several advantages, such as lower transaction fees compared to traditional payment methods like credit cards, faster international transactions, and increased security through blockchain technology. Additionally, it can attract a tech-savvy customer base and open up new markets, especially among individuals who prefer using digital assets for their purchases.

 

[Heatman]

I consider cryptocurrency as part of the payment options that I have in my business. It is one payment option that I believe that a lot of businesses should consider as long as you understand how crypto currency works because there are pros and cons involved.

When it comes to accepting it as a payment system, coins such as BCH, LTC and Doge should be on top of the list since they have lower processing fee.

It's actually a very good thing that you pointed out that a business owner should only consider making use of cryptocurrency as long as they understand how it works because of the downside of using cryptocurrency. This is the first priority of any entrepreneur that's interested in using cryptocurrency as a means of payment.

 

[Ja Sa Bong]

If it's for my online business as a freelancer, I accept payments in cryptocurrency and it's because those I'm working with/for want to pay in cryptocurrency and I will use PayPal as a last resort. If it's for my offline business, I only accept cash payment, bank transfer and card payment.

 

[Heatman]

Personally, I don't have much to worry about when it comes to my business and accepting of cryptocurrency as a means of payment because I believe that most of my customers are not even well educated when it comes to making use of cryptocurrency as payment. So, it is nothing that I'm worried about at the moment.

 

[Grant]

I don't think it's to the point where there are enough people using Bitcoin to warrant a business to accept it. Businesses are in their rights to accept or decline the use of Bitcoin and I imagine some businesses don't even work with bitcoin. While some do, it doesn't need to accept it until it becomes a more of wider used service.

 

[Heatman]

If it's for my online business as a freelancer, I accept payments in cryptocurrency and it's because those I'm working with/for want to pay in cryptocurrency and I will use PayPal as a last resort. If it's for my offline business, I only accept cash payment, bank transfer and card payment.

Well, when it comes to how to receive payment for my online jobs, I will always prefer to make use of cryptocurrency as a means of payment because it is more cheaper in terms of charges and also very fast.

I have had a lot of losses from making use of PayPal as a result of the higher charges which can never be compared to how cheap receiving payments through cryptocurrency is.

 

[Good-Person]

Well, there's no doubt about cryptocurrency being a great payment method that allows any business to send and receive payments from anyone and anywhere in the world. The problem is that there's never going to be a time when everyone is going to accept using cryptocurrency. We have had the blockchain technology for 15 years or more since Bitcoin came out. How long are we expected to stay before even 50% of the world's government accepts it?

This is quite tricky aspect of using cryptocurrencies as a payment method. Cryptocurrencies are not used by many major companies and there are many reasons for that. They do not trust cryptocurrencies. I think that more than 50 percent businesses do not accept cryptocurrencies as they may face issues related to regulation.

 

[Ja Sa Bong]

This is quite tricky aspect of using cryptocurrencies as a payment method. Cryptocurrencies are not used by many major companies and there are many reasons for that. They do not trust cryptocurrencies. I think that more than 50 percent businesses do not accept cryptocurrencies as they may face issues related to regulation.

If 40% of businesses accept cryptocurrency as a means of payment worldwide, cryptocurrency will not be in the hot mess it is today. Cryptocurrency is making lots of headlines but it's not widely used by many big business which can make it widely used. Why do you think small businesses are not considering it as a means of payment?

 

[Good-Person]

If 40% of businesses accept cryptocurrency as a means of payment worldwide, cryptocurrency will not be in the hot mess it is today. Cryptocurrency is making lots of headlines but it's not widely used by many big business which can make it widely used. Why do you think small businesses are not considering it as a means of payment?

Yeah I know. The value of cryptocurrencies have a lot to do with how they are viewed and accepted by the business organisations. Fewer companies like Tesla know its worth. However, Tesla alone would never help cryptocurrencies until or unless the cryptocurrency markets gets new investors.

 

[Ja Sa Bong]

Yeah I know. The value of cryptocurrencies have a lot to do with how they are viewed and accepted by the business organisations. Fewer companies like Tesla know its worth. However, Tesla alone would never help cryptocurrencies until or unless the cryptocurrency markets gets new investors.

Elon Musk with his Telsa was in support of cryptocurrency at a time before he stopped. This was among the reason why Bitcoin crashed from the area of $67,000+ down to $14,000+ or thereabouts. Telsa is a big tech company, they should be supporting cryptocurrency.

 

[Heatman]

This is quite tricky aspect of using cryptocurrencies as a payment method. Cryptocurrencies are not used by many major companies and there are many reasons for that. They do not trust cryptocurrencies. I think that more than 50 percent businesses do not accept cryptocurrencies as they may face issues related to regulation.

When you don't know how to manage your cryptocurrency especially when it's what you make use of in running and managing your business to prevent it from hitting you with a loss, it's not advisable for you to accept cryptocurrency as payment in that business.

 

[Good-Person]

Elon Musk with his Telsa was in support of cryptocurrency at a time before he stopped. This was among the reason why Bitcoin crashed from the area of $67,000+ down to $14,000+ or thereabouts. Telsa is a big tech company, they should be supporting cryptocurrency.

Unfortunately, Elon Musk alone cannot do anything. The fact of the matter remains that Elon Musk has invested quite heavily in Bitcoin, but there are many other factors that also come into play. This also includes US Federal Reserve's policy that has been affecting the investors' decisions in a negative manner when it comes to cryptocurrency investments.

 

[Ja Sa Bong]

When you don't know how to manage your cryptocurrency especially when it's what you make use of in running and managing your business to prevent it from hitting you with a loss, it's not advisable for you to accept cryptocurrency as payment in that business.

Yes, it's not advisable for you to accept cryptocurrency as payment in your business if you don't know to use it to stop yourself from losing money if there's a dip after you've been paid for your products.

 

[Good-Person]

Yes, it's not advisable for you to accept cryptocurrency as payment in your business if you don't know to use it to stop yourself from losing money if there's a dip after you've been paid for your products.

Well, there was a time when I never knew how to use cryptocurrency. During the early days, I thought that it is a kind of payment system that works only in certain countries. There are many businesses in here whose owners may not know how to use cryptocurrencies. This is also one of the main reasons why many businesses still never accept such payment method.

 

[Heatman]

Well, there was a time when I never knew how to use cryptocurrency. During the early days, I thought that it is a kind of payment system that works only in certain countries. There are many businesses in here whose owners may not know how to use cryptocurrencies. This is also one of the main reasons why many businesses still never accept such payment method.

Exactly! An entrepreneur should always make sure that whatever payment system that he or she is using for his business is always going to be something that is going to be beneficial to him. When you have sold your product to your customers and they made payment, it doesn't concern your customers anymore. When you lose your money in the process of how you received it that is your own loss.

 

[Henrywrites]

Exactly! An entrepreneur should always make sure that whatever payment system that he or she is using for his business is always going to be something that is going to be beneficial to him. When you have sold your product to your customers and they made payment, it doesn't concern your customers anymore. When you lose your money in the process of how you received it that is your own loss.

Exactly the point. If you pick a payment system that doesn't benefit your business, then you are making a big mistake as that is going to affect the profits that you make when you sell each product. To me, I can only accept some coins that I know that they have better features and minimal cost for transferring.

 

[Heatman]

Exactly the point. If you pick a payment system that doesn't benefit your business, then you are making a big mistake as that is going to affect the profits that you make when you sell each product. To me, I can only accept some coins that I know that they have better features and minimal cost for transferring.

There is no way your customer is going to feel pity for you because you made use of a payment system that ended up costing your business. This is the reason why you have to put your business first when it comes to choosing a payment system, so that your customers are the ways going to pay you through a means that is always going to be of a better security to your business money.

 

[Henrywrites]

There is no way your customer is going to feel pity for you because you made use of a payment system that ended up costing your business. This is the reason why you have to put your business first when it comes to choosing a payment system, so that your customers are the ways going to pay you through a means that is always going to be of a better security to your business money.

I agree with you on this. What is of great concern to the buyer is to buy the product and not how much you were charged by the payment processor that you picked for them. So, it is imperative to have an understanding of all payment systems and make the right decisions for your business.

 

[Heatman]

I agree with you on this. What is of great concern to the buyer is to buy the product and not how much you were charged by the payment processor that you picked for them. So, it is imperative to have an understanding of all payment systems and make the right decisions for your business.

As long as your product is exactly what a customer wants to purchase, they will always find a means to make use of the payment system that you have chosen to receive your payment for the business. It is not something they can actually force you to use a particular payment system as long as it is your business.

 

[Ja Sa Bong]

Well, there was a time when I never knew how to use cryptocurrency. During the early days, I thought that it is a kind of payment system that works only in certain countries. There are many businesses in here whose owners may not know how to use cryptocurrencies. This is also one of the main reasons why many businesses still never accept such payment method.

It took me more 2 years to learn and understand everything about cryptocurrency before I started making use of it for my online business purposes and also investing in it. If I had not learnt it, I will never use or invest in it.