I have read more than five (5) posts on this forum where users celebrate accepting bitcoin as a payment option for their business. Outside of the forum, we have read news of
companies such as Microsoft, Home Depot, Twitch, Whole Foods, Gyft, Benfica accepting bitcoin as a payment. The question that has been on my mind for quite a long time is that-at what point do you think a business should start accepting bitcoin as a payment option, considering profit margin, price stability, and manipulation from exchanges?
I would start accepting bitcoin in my business when customers start demanding for such payment options and when it is consistent to the law of my country. In my location I have just seen two businesses accepting bitcoin payments this is because only few persons are aware that bitcoin can be used as a form of payment. It would not be nice to use bitcoin as a payment option when nobody has requested for such option.
The government policy of my country would also determine when I would start accepting bitcoin as a form of payment. Currently the Central Bank of my country placed a ban on bitcoin, mandating all commercial banks not to carry out any crypto transactions. This has led to negative perception of bitcoin becaue the CBN has painted it as a financial enermy. Many people would engage in crypto transactions if the ban is lifted. Therefore it would be smooth to add bitcoin as a payment option when the government lifts the ban