Post
Topic
Board Bitcoin Discussion
Re: Accepting Bitcoin for your business just like Tesla: Report
by
ETFbitcoin
on 17/06/2022, 12:53:54 UTC
Quote
Merchants that accept crypto rather than credit cards for payments can expect to save as much as 3.5% or more.

If they use 3rd party to accept cryptocurrency, they still need to pay fee (although usually lower than credit card fee). Additionally, there's exchange fee if merchant decide to convert to fiat.

With the following image you can see the ways for the company to accept cryptocurrencies as payment:


I wonder how many company (where their main business isn't cryptocurrency) who would take double risks (volatile price and defi yield).

If you are a business owner, you will have to ask yourself what's the point of accepting a currency, which is valued at 20K USD in the first year, goes above 60K the second year and it drops to 15K on the third year? Grin The business owners want stability and predictability and Bitcoin is anything else but stable and predictable. Adding BTC/crypto payments just to convert them to fiat money right away doesn't make any sense. The crypto demographic isn't that big, It's probably less than 0.5% of the global population. No business would break a leg and an arm in order to please a few hardcore crypto enthusiasts.
Tesla is a "government baby", that would have gone bankrupt, if it wasn't the US government supporting them. I can't take this company seriously.
There are businesses that accepts bitcoin just for the sake of bragging that they know about it. It boosts their popularity and attracts some customers that are also pro-crypto.

It's also free publication/advertising on cryptocurrency media and few other media.