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Should a new business accept cryptocurrencies?

BrolySSJ

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The number of vendors that are accepting cryptocurrency has continued to grow over the last few years, however there are still quite a few that do not accept cryptocurrencies and many more that have not even considered it in the first place. When someone opens a new business there is capital that is needed and then need to try and establish themselves within the community. By accepting cryptocurrencies you are generally opening up your customer base to a whole new group of people who are solely relying on cryptocurrency. And if you are a vendor that is able to expand globally you'll find the cryptocurrency reach globally is much preferred as well as a form of payment.

Do you think that it is advisable however for a new business to accept cryptocurrency given the volatility of it and the risk that comes to them as well having not been established within their field or community? Would you accept cryptocurrency if you just have to start off a business right now?
 
This would depend on how technologically advanced the business is. Also we need to factor in how advanced the business proposed customers are. You can't offer a service that people are not aware of. So you have to be sure that people know about crypto and are ready to do business with it.
 
While your organization may have already grappled with whether or not to add PayPal, Square or Apple Pay to your payment options, adding the ability to accept cryptocurrency is a bit different. Deciding to accept cryptocurrencies is more like the decision to accept foreign currencies than just choosing to add a new form of payment processor. There are significant benefits to accepting crypto, but it is not without some drawbacks. Savvy business owners should weigh these pros and cons when making the decision for their company.
 
The number of vendors that are accepting cryptocurrency has continued to grow over the last few years, however there are still quite a few that do not accept cryptocurrencies and many more that have not even considered it in the first place. When someone opens a new business there is capital that is needed and then need to try and establish themselves within the community. By accepting cryptocurrencies you are generally opening up your customer base to a whole new group of people who are solely relying on cryptocurrency. And if you are a vendor that is able to expand globally you'll find the cryptocurrency reach globally is much preferred as well as a form of payment.

Do you think that it is advisable however for a new business to accept cryptocurrency given the volatility of it and the risk that comes to them as well having not been established within their field or community? Would you accept cryptocurrency if you just have to start off a business right now?
I think No...
Because cryptocurrencies always have a big challenge for its security, now a days hackers are more advanced and skilled so it will be difficult to keep earing safe for a new business man, as it need an advanced level security system.
 
Of course, as far as you get your money in change when you exchange it. It will even make business transactions easier and safer for you, instead of having only two means of payment; cash and mobile transfer, you get to add another mode of payment which is even more faster and safer.
 
I would say anything that has advantage has disadvantage as well. I don't think accepting crypto currency in a new business is advisable when the business has no platform for that and also in the case whereby it is only one party that has the knowledge of crypto what do you think will be the case.
 
The number of vendors that are accepting cryptocurrency has continued to grow over the last few years, however there are still quite a few that do not accept cryptocurrencies and many more that have not even considered it in the first place. When someone opens a new business there is capital that is needed and then need to try and establish themselves within the community. By accepting cryptocurrencies you are generally opening up your customer base to a whole new group of people who are solely relying on cryptocurrency. And if you are a vendor that is able to expand globally you'll find the cryptocurrency reach globally is much preferred as well as a form of payment.

Do you think that it is advisable however for a new business to accept cryptocurrency given the volatility of it and the risk that comes to them as well having not been established within their field or community? Would you accept cryptocurrency if you just have to start off a business right now?
I love this post because it has opened me up to some salient facts which I never thought of. If new business should accept crypto currencies and fiat, it will open the business to many customers who have crypto currency and prefer to purchase things with it. Kudos.
 
Well it depends if the customers of the business understand the concept of crypto currency and it risks and also that it is fast becoming the future of money exchange
 
Personally I feel it is not ideal for start up to accept cryptocurrency as a medium of payment considering the fact that he or she is new in the business. The person should use other accepted means of payment if the person wants the business to flourish.
 
we can't say that the people are not aware about crypto and you can't offer a service that people are not aware of. So you have to be sure that people know about crypto and are ready to do business with it.
 
if you think that accepting cryptocurrency will make your business to grow I think there is nothing wrong with that but those company that do accept cryptocurrency as mode of payment are always online companies so I don't know if the business you are starting you will do it online.
 
I don't think it is outrightly adviceable for a new business to accept Bitcoin as a means of payment because the price of Bitcoin isn't stable and if s Business owner should collect the coin at high price it can come out low on the long run and make it short for the business owner
 
It will be very difficult for most people to accept cryptocurrency as a means of payment for any transaction in their business because most people don't even believe that cryptocurrency have financial value. They call it scams and as it's definitely going to be difficult to use it in business.
 
With the state of crypto improvement which is vast, every business can always accept some widely used cryptos like btc, ethereum, ltecoin, xrp, xlm for transactions alongside other channels, if you choose not to use them that way, you can always integrate paypal into your site, paypal would be accepting btc soon.
 
The number of vendors that are accepting cryptocurrency has continued to grow over the last few years, however there are still quite a few that do not accept cryptocurrencies and many more that have not even considered it in the first place. When someone opens a new business there is capital that is needed and then need to try and establish themselves within the community. By accepting cryptocurrencies you are generally opening up your customer base to a whole new group of people who are solely relying on cryptocurrency. And if you are a vendor that is able to expand globally you'll find the cryptocurrency reach globally is much preferred as well as a form of payment.

Do you think that it is advisable however for a new business to accept cryptocurrency given the volatility of it and the risk that comes to them as well having not been established within their field or community? Would you accept cryptocurrency if you just have to start off a business right now?
Being an experienced trader about cryptocurrencies and their future So yes, if i am having a startup , i will definitely add the cryptocurrencies in my payment methods , once it is adopted other people will go for the same because the trend copies and once people will start this , it will definitely be great!
 
If I have a new business, first of all, I need to understand my business and also understand my inflow and outflow, I need to understand how fast the cryptocurrency or bitcoin will leave my custody before planning to receive crypto or not.. But Majorly new business should stay out from bitcoin at early stage.
 
Yes they should,reason being that;
It reduces fraud:
The use of cryptocurrencies carries a reduced risk of fraud for both customer and business. Unlike using credit cards, where a plethora of personal customer data is transferred to the business after a purchase, cryptocurrencies are totally anonymous and no personal information is transferred. Cyber-attacks on businesses are becoming more advanced and frequent each year, rising with the amount of personal data available. By removing the data within the purchase process, the chances of fraud are reduced significantly
 
It is
Of course, as far as you get your money in change when you exchange it. It will even make business transactions easier and safer for you, instead of having only two means of payment; cash and mobile transfer, you get to add another mode of payment which is even more faster and safer.
It is very good that so many businesses are accepting cryptocurrency as a means to make payment. The currency has already come to stay and there is nothing that can stop it.
If i start a new business i will allow cryptocurrency as a means to make payment as well.
 
There is nothing wrong taking up Cryptos as a means of payment even in a new business. I would prefer to accept stable coins for transactions so to be able to beat the fluctuations common with other Cryptos.
 
I do not subscribe to that philosophy of moving with the bandwagon or the crowd, before accepting cryptocurrency in your everyday business, make sure you understand what the concept of decentralization of money is all about and how it could positively affects the growth of your business.
 

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