Hello all,
I have been following Bitcoin prices for some time, and now I'm doubtful if it is a good time to start accepting it as it has changed so much in the past months. Those who accept Bitcoin - is it worth it? And do you accept Bitcoin straight to your wallet, or do you use third-party services?
Thanks in advance!
Are you talking about investing in or accepting bitcoin for your business? If you are interested in investing, a bear market is a good time because you do not have to wait to buy because bitcoin is extremely inexpensive to purchase and hold. In terms of accepting bitcoin for business, you can start whenever you are ready to do so. If you are worried about the price movement of bitcoin then after receiving your payment in bitcoin you can convert them to fiat right after, very easy and fast.
What is the point for a business to accept the bitcoin as a means of payment if it is immediately sold? When converting to fiat, even immediately, you will need to pay an exchange commission, which means that there are some losses. No business likes losses. For the most part, I think that the acceptance of bitcoin by businesses is mostly a PR stunt to attract new customers. On the other hand, if a business accumulates btc for hold, received for the sale of its services or goods, then these funds are in some way “frozen”, because they cannot be spent on business development and you have to wait in anticipation of a profit.