Post
Topic
Board Bitcoin Discussion
Re: Reason why businesses should accept Bitcoin payment
by
AicecreaME
on 11/10/2021, 08:13:24 UTC
Haven't spent some hours thinking about the advantage that is associated with Bitcoin in company ecosystems, new start-ups that are located in crypto-friendly countries are now diving into Bitcoin as payment against the regular faint traditional currencies, after administering questionnaires to some of the business CEOs stated the reason to be the anonymous nature and its intrinsic value. That is to say, Bitcoin is a business within a business because of its decentralized nature and volatile market.
So the company gain in two ways for accepting bitcoin for payments and if the price of bitcoin goes upward interest are generated also.

The big merchants are at an advantage if ever they would opt to accept bitcoin payment in their business. Making bitcoin one of their payment options eliminates the hassle of monitoring the transactions because every transaction is recorded. No more inconvenience on the part of the merchant and to the customer as well because they'll transact online via a network that provides quick processing and low transaction fee. However, to those start-ups, I don't think they have the capability to suddenly accept bitcoin as a payment method because they have to have the resources and knowledge first before diving into something volatile considering that their business is just starting to grow. \

Based on my observations, those small establishments just make their money go in cycle. They start with capital, then they need the profit and the revenue to be invested back again to buy the supplies in their business. Hence, what most of them need is an active flow of money. They can opt to have bitcoin as a payment method but I doubt they can hold as long as other big-time merchants.