Post
Topic
Board Bitcoin Discussion
Merits 2 from 1 user
Re: Will accepting cryptocurrency as a payment be profitable for business?
by
Iranus
on 09/03/2023, 10:35:52 UTC
⭐ Merited by NotATether (2)
Cryptocurrency payment getaways have the lowest transaction fees so that the business owners gets more profit from it. accepting cryptocurrency as a method of payment opens you to more customers internationally. it will helped your business to increase profitability and revenue growth.
I have never experienced a faulty transactions with Bitcoin but I have lost so much fiat in banking transactions. Bank mobile or internet banking channels sometimes experience service downtime but the Bitcoin network is ever reliable. I would rather use a reliable network that I can control than using one that is controlled by a third party. Bitcoin helps users to avoid some unreasonable financial transaction policies by the government. But using Bitcoin to buy cheap basic commodities or services might not be too beneficial.

No one is perfect here, mate. Sometimes we will encounter some errors when transferring money by the bank, but most will be fixed quickly.

I once took 3 days to complete a bitcoin transaction when I was trying to use low transaction fees to save money. And one point as you said, using bitcoin to pay for coffee or a loaf of bread is really inconvenient from the time to confirm the transaction and the transaction fee, while it is more convenient to use fiat or a bank. But using bitcoin for international payments is much more convenient than banking. Both have their pros and cons, and if used appropriately for the situation, it will bring out the best of them.