Re: Will it be profitable for the business?

Quote from: uchegod-21 on February 02, 2023, 12:32:26 PM

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.

Bitcoin payment is like any other form of payment, just like paying with fiat. So payment gateway or method has nothing to do with the profitability of your business. If you want to profit in your business try and venture into a business that us profitable.
If you want to accept Bitcoin, conduct a survey among your customer base and ask them if they would want to be paying with bitcoin. Their replies will enable you make a better decision.

By keeping Bitcoin as a payment method, Bitcoin will work for personal profit and loss despite normal business profits. Because if you sell a product for $100 and the buyer pays the price via fiat, your $100 will always be worth $100. But if you take this payment through Bitcoin, then if Bitcoin pump 1000 dollars, you will gain a few more dollars by increasing that 100 dollars, then it will be worth more than 100 dollars. but if bitcoin price drop $1000 the $100 also will drop by a few dollars and then it will carry some less value of $100. So the profit and loss of the business plays a role in Bitcoin in many ways