Post
Topic
Board Bitcoin Discussion
Re: How to determine the price of a product in bitcoin
by
royalfestus
on 18/12/2016, 14:12:59 UTC
We all know that bitcoins price changes quickly because of its demand So if some online shop sells products and pricing it in bitcoin,
How can we price it ? Should the price change also like btc?
Most of the online store or merchants use third party payment gateway like bitpay to accept bitcoin which will be converted instantly into USD so that they will not loss due to price volatility of bitcoin.

Those payment gateway also provide simple api/merchant tool which will automatically calculate bitcoin according to price of the product, so actually amount of bitcoin to be sent will change according to market price of bitcoin.
Losing the value is what am looking for as the challenge of the transaction in a very unstable state of bitcoin. Put a price on it before you make the transaction and most bitcoin transaction are always cheaper  than the actual value