Post
Topic
Board Bitcoin Discussion
Re: One Month of Accepting Bitcoin for Payment
by
posi
on 09/12/2022, 12:16:32 UTC
Congratulations for accepting bitcoin in your business and figuring out how to deal with it's volatility.

I will want to know who bears the transaction fee. You or the customer.
Also how do you convert btc to USDT with Trust wallet.


I decided to use a trust wallet because I just felt that since I was not holding the bitcoin for investment purposes, I should just use trust wallet to receive my payment.

I was about to ask the same question, who bear the transaction fees and how do ops intend to handle the exchange of the Bitcoin received to fait money to use in purchasing materials for future production?
It is a good thing that ops is accepting Bitcoin in his furniture store but it will be more better if ops can use an exchange for direct payment and easy exchange of the money to avoid paying double transactions in sending the funds from a trust wallet to an exchange.
That is we never know but if I'm in that situation, the customer will bear the fee. Of course, they must be aware of it and it was their option to continue using their Bitcoin or just keep using fiat money. There will be a clear agreement between the owner and the buyer, and if they agree then there is no problem.
Anyways, I think the fee isn't big enough and probably it was deducted from the price of the furniture. Maybe the price is a little bit different when using crypto compared to using fiat money.

Many customers will agree, but many very demanding customers will never pay an extra fee, even a small fee. In my opinion, there will be an agreement between the seller and the customer and depending on the value of the item they will be trading. But most store owners will have to pay a fee if they want to attract customers to pay with bitcoin.

But OP, you should reconsider @Odusko's suggestion. Because you do not intend to hold bitcoins for investment purposes but instead use a Trust wallet, you should use an exchange to facilitate the exchange and save extra transaction fees.