Quote from: sunsilk on January 03, 2023, 08:55:33 AM

Quote from: Crypto Library on January 02, 2023, 06:39:24 PM

Suppose I am doing business through an online Facebook page and website and want to accept Bitcoin. But now if I look at cryptocurrencies it comes with high volatility, and I have doubts whether accepting Bitcoin will be profitable for my business.
I really want to know your opinion on this and what are the initial steps I should take if I adopt cryptocurrency for my business? Because I see many people on the forum are taking steps to accept Bitcoin for businesses and that's why these questions araised in my mind.

Then accept stable coins if you want to avoid volatility. But in stable coins, you've got a lot of options to make as to what's the stable coin that you want to accept.

There are also third party services wherein you can accept payment in bitcoin and then that service will convert the payment that you've received as soon as you've got it into dollars/fiat.

Then it's all up to you if you want to convert them back into bitcoin later on, manually.

Thats exactly what I do. I offer USDT as a payment option as its one of the most famous stablecoins out there. Its widely available. You can find many crypto gateways that supports it, I am using CapitalWallet tho. Also, it has a strong reputation for stability which makes it attractive for the merchants who want to minimize the volatility of their cryptocurrency holdings.

I understand that people like to pay in btc or other volatile cryptocurrency which raise a concern for merchants as the volatility of cryptocurrencies can make it difficult for merchants to know how much the cryptocurrency is worth when they receive it, and it can also create uncertainty about whether or not they will be able to recoup the full value of the sale if they need to convert the cryptocurrency back into a fiat currency at some point. But theres a solution for it as well- exchanging it into fiat immediately.