Quote from: Smack That Ace on Today at 07:39:02 AM

Quote from: Pandu Geddon on Today at 06:10:31 AM

Quote from: Cryptoprincess101 on January 16, 2024, 11:37:02 AM

Edit: after much deliberation and suggestions from responsible members that gave their individual opinion to me here, I have therefore retorted to use TRC 20-USTD and BNB for payment hence, I've removed my initial wallet address i made available earlier as my intended payments method but however, I'm optimistic to use bitcoin as a payment method for my business in the future when transaction fees will definitely reduce to a considerate price and probably no congestion in the mempool.

congratulations on making your business dream come true. and you are also happy to use crypto as an alternative payment in your business. I hope you don't have difficulty managing your business finances. because it will separate the amount of money that will enter your business between fiat and crypto. If you only accept USDT, management will probably be quite easy to manage. but if it involves Bitcoin or other crypto such as ETH or TRX, whose value can change very quickly, there may be times when you experience financial problems.
in quantity, it may not decrease, but in value, there may be a difference when the market price of the crypto asset you receive changes.

This is worth discussing. I don't have a business that uses bitcoin as payment, so I'm hoping those who have accepted bitcoin for their business can tell us how they can manage their finances while use bitcoins.

In case we accept payment in bitcoin and convert to fiat currency immediately after payment is completed. I think using bitcoin is meaningless in this case.

There have been many threads about people accepting bitcoin as a payment method for their stores and businesses, but then no one updated the situation. Most just posted to brag about accepting bitcoin as a payment method in stores, no one shared their experiences on revenue management, finances, and the pros and cons of using bitcoin as payment method.

This is indeed an interesting topic to discuss for business people who accept Bitcoin as a means of payment. Maybe the number of Bitcoins obtained will remain the same, but their value can increase or decrease.
I mean for financial management in business, of course, it will pay attention to the circulation of money in the business. at least we can see it in a certain period. so that we can assess whether the business is running well or not.

It doesn't matter if business people immediately convert to stable assets or even fiat because it aims to simplify transactions in its business by accepting more payment alternatives. because business people may still have to spend back their bar supplies with fiat, not with Bitcoin or other accepted crypto assets.