Should a new business accept cryptocurrencies?

[Senator]

For mei don't think a new business should accept cryptocurrency as a payment processor except that cryptocurrency is a stable coins like the USDT, BUSD, USDC and so on like that. It is better if it were stable coins

 

[ahmedo24]

For mei don't think a new business should accept cryptocurrency as a payment processor except that cryptocurrency is a stable coins like the USDT, BUSD, USDC and so on like that. It is better if it were stable coins

A new business can accept cryptocurrency provided they can manage the volatility of the cryptocurrency and they can also convert it as soon as possible because if a business is an environment where most other businesses accept cryptocurrency it could affect its turnover.

 

[Setho]

Accepting payment in cryptocurrency as a new business is a very good idea. You should also had other traditional method of payment to and not just crypto.

 

[BrolySSJ]

Accepting payment in cryptocurrency as a new business is a very good idea. You should also had other traditional method of payment to and not just crypto.

There is no business that can only accept cryptocurrency yet especially as it is not yet a completely legal tender or form of payment in many countries across the world with some countries working towards legalizing it as we speak.

 

[Kunkun]

As a new business, before going ahead and accepting crypto currency as a means of transaction then the necessary research and knowledge should have been done on the processes involved

 

[ahmedo24]

As a new business, before going ahead and accepting crypto currency as a means of transaction then the necessary research and knowledge should have been done on the processes involved

Yeah that is very important do for someone like me if I should have a new business now and I see that my clients wish to pay in cryptocurrencies I will Integrate it immediately because I am knowledgeable about it .

 

[delnovem]

Many small businesses will want to accept crypto currency in business transaction. But as for me I surely need the real cash at hand to run something within my reach.

 

[BrolySSJ]

As a new business, before going ahead and accepting crypto currency as a means of transaction then the necessary research and knowledge should have been done on the processes involved

Research is important when it comes to any business decision that is made and I think it is especially important with cryptocurrency because there is a considerable risk that is being taken by the business. Perhaps the only way to manage it is to converted into a stable coin

 

[Setho]

It will actually be a very excellent idea for you as a new business owner to adopt cryptocurrency as a means of receiving payment from your customers.

 

[BrolySSJ]

It will actually be a very excellent idea for you as a new business owner to adopt cryptocurrency as a means of receiving payment from your customers.

It will certainly increase the number of customers that you have however you have to consider that at a start of any business it can be very difficult to maintain the financial situation and cryptocurrency prices are constantly fluctuating making it even more difficult.

 

[GIFTMICHAEL]

I think that right now given how the market is declining quite considerably it was actually very good for entry for people to purchase cryptocurrency in order to try and build their cryptocurrency portfolio.

That's it dear. When the market is falling is definitely the right time to buy some coins and keep for the future use. Because the best time to expect profit is during the dip.

 

[jeff87]

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?

Of course not. New business should accept fiat currency like dollar only. It is very risky for new business to accept cryptocurrency as mode of transaction.

 

[Ceeny007]

There are good reasons not to especially if it's in a dip, since your business is new you can't afford to take such risk.
Maybe when it's a bit older

 

[Nomad]

The chances of losing money or earning profits with crypto currency is 50-50 percent, in other words, the value of funds you receive from clients might go high or go down compared to the fiat value.

 

[greenie]

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.

 

[Dagm1]

Of sure, as long as you get change when you swap your money. It will also make business transactions easier and safer for you, as you will be able to add another way of payment, which is even faster and safer, to your existing two options of cash and mobile transfer.

 

[Sotherefore]

Personally if I am operating a business I wouldn't want to accept cryptocurrency as a means of payment for my goods or services. They volatile nature of cryptocurrency is not suitable for business as I understand.

 

[Ononivami]

I will recommend that new businesses should use cryptocurrencies because it is the rave of the moment. So many financial investors are seeing bright future in cryptocurrencies at the moment.

 

[Chibson]

I will never advise any business to accept cryptocurrency payment except they have proper knowledge of it. Some customers may also be ignorant of cryptocurrency payments so you have to provide all the options.

 

[Smiles20]

There is nothing wrong in accepting cryptocurrency and in fact people are even going to see you as more advanced if you are going to incorporate cryptocurrency payment options.