Bitcoin, the revolutionary digital currency, has captured the world's attention as a decentralized and secure way to transfer value. While many people have traditionally acquired Bitcoin through exchanges and investments, there's a lesser-known yet powerful method to obtain this coveted cryptocurrency: receiving Bitcoin as payment for goods and services. In this guide, we will explore why earning Bitcoin through transactions is the best way to get your hands on this digital gold.
"The best way to get Bitcoin is not to buy it!"?
But in the way you described, someone still buys bitcoin. Bitcoin can't appear out of nowhere and disappear into nowhere. In order for a buyer to pay you in bitcoin for your goods or services, he must own those bitcoin. Where can he get it? Only buy.
No Need to Risk Your Money:
Buying Bitcoin through exchanges can be risky, especially for newcomers to the world of cryptocurrencies. Prices can be volatile, and investing a significant amount upfront might lead to unexpected losses. By accepting Bitcoin as payment for your products or services, you eliminate this risk entirely. You control how much you receive and when to convert it into traditional currency, making it a secure and calculated approach to acquiring Bitcoin.
Buying on exchanges, if well-known, with a long history, proven and reliable exchanges, is not associated with the risks that you are talking about. It is risky to use small and new exchanges that can cease to exist at any moment. Along with your money.
And here it is not. If you receive payment at bitcoin after the provision of a service or product, then there are risks. Don't forget that transactions on bitcoin network can't be reversed. You just might not get paid. Despite the fact that not every client wants to make an advance payment. For example, online. So, some kind of intermediary escrow platform will be required, which entails extra costs and an extra intermediary between the buyer and the seller.
Encourages Wider Adoption:
The adoption of Bitcoin as a mainstream currency depends on its usage in day-to-day transactions. By actively accepting Bitcoin as a form of payment, you contribute to its broader acceptance and recognition as a legitimate medium of exchange. As more businesses and individuals accept Bitcoin, its value and usability will increase, potentially benefiting all participants in the ecosystem.
Your use of bitcoin as legal tender for your goods and services doesn't contribute in any way to recognition as legal tender. If bitcoin is prohibited in your country, then your actions are illegal. And if statute btc is not approved in your country, then your actions are in the gray area of the legal system. If the regulator discovers that a very large number of residents use bitcoin as a means of payment for goods and services, respectively, without paying taxes, it will undoubtedly wish to either receive its profit from these operations or prohibit bitcoin. It may wish to take the first path and then , indeed, btc will be accepted as legal tender, but bitcoin owners will lose its advantages and will not differ from the same CBDC. Most likely, the choice of the regulator will differ from the specifics of each particular country.