Post
Topic
Board Bitcoin Discussion
Re: Option for customers to pay with Bitcoin and other crypto in physical store
by
CryptoHeadlineNews
on 29/03/2025, 19:06:52 UTC
What are the pros and cons of this ? Can this increase sales in the physical store because some would like to spend crypto in bulk which they are getting from some source ?
Judging from this strategically, a method of payment been used by a business venture doesn't literally increase or decrease it's level of sales, as it is effective marketing that could increase the sales of either a product or services in our respective geographical locations. And as such, the advantages or disadvantage of using Bitcoin in a physical store may differs with respect to different factors, such as the laws in that territory, whether is it Bitcoin friendly or not, followed by it's volatility (i.e being a decentralized digital currency whose price value fluctuates every seconds), whereby it's value can either depreciate or appreciate instantly planning to execute transaction, and thirdly, it's fees, as it's current fees is another factor to always consider when planning to execute a physical Bitcoin transaction, since the fees can be high when the Bitcoin mempool is congested. While lastly a delay in Bitcoin transaction confirmation can also be another huge challenge with the use of Bitcoin for physically transactions. Hence, Bitcoin is most suitable for transaction that involves huge amount and a means of fast payment for international payments.