Pay with Bitcoin?
Bitcoins are not legal tender. This also applies to the long list of other cryptocurrencies. But if you want to accept Bitcoin as an entrepreneur from traders on platforms like bitcoin360ai.com, that’s no longer a big deal.
Nowadays, in any bar, restaurant, café, or even shop, the integration of digital currencies can be implemented quickly and free of charge via blockchain technology.
Nevertheless, it is important not only to deal with the benefits but also to take a look at the possible dangers.
Interest is growing
What one of the most powerful topics that can currently be found on the Internet is?
Thanks to its decentralized technology, crypto money is slowly rising to become an anchor currency away from the banking world.
Above all, Bitcoin, the mother of all digital currencies, is at the top. But also in the second row, in addition to Bitcoin and Ether, other alternatives are establishing themselves and attracting interest.
Cryptos are therefore not only a decentralized means of payment but have also become virtual investment objects. If you look at the price jumps, these currently belong to the cryptocurrencies such as Ying and Yang.
No matter whether you are a Bitcoin fan or critic – the fact that there are more and more users who rely on Bitcoin as a means of payment can no longer be ignored.
In recent years, more and more people have become involved with cryptocurrency. But many entrepreneurs are now also dealing more often with virtual currency.
Probably also because companies that accept Bitcoin are perceived as particularly innovative. In addition, you can also enjoy increased media attention.
If you want to buy a product with cryptocurrencies, for example, you have to check in advance whether the company offers such a possibility at all.
How does the virtual money get into your wallet?
There are also wallets. The term wallet comes from English and means quite simply: wallet. Just like the ones you have with you every day. Cryptocurrencies, on the other hand, are stored in a virtual wallet – the wallet.
To explore the different options of the best Bitcoin wallets An overview is a good idea. In the end, however, you have to decide for yourself. Which Bitcoin wallet is best suited for you depends entirely on your personal ideas and intentions.
Solutions for Smaller Businesses
The simplest method?
The customer sends the amount to be paid to the company’s wallet. The process can be equated with a cash payment. Payment works via smartphone apps – such as the Blockchain.info app (Android and iOS) or the Bitcoin Wallet app (Android).
Another possibility is CoinBox. The entrepreneur enters the amount to be paid in this app, then it comes to the automatic generation of a QR code, which the customer then scans. The amount is then automatically transferred to the entrepreneur’s digital wallet.
Such solutions are especially ideal if it is a small company but still wants to offer the possibility of accepting Bitcoin as a means of payment without much effort.
Entrepreneurs should compare suppliers and products
Of course, there are also software solutions for companies.
At the moment, it almost looks as if new possibilities are being developed every day – a real competition has arisen between the developers who are busy finding the best solution for the entrepreneur as well as the customer.
Coinify is probably one of the best-known companies that offer so-called POS solutions for ordinary shops, restaurants as well as bars – the software of the Danish company can also be used for online shops.
In this case, the traders can be paid in Euros or Bitcoin or in a mix of both currencies. The app is available for Android as well as iOS.
BitPay is an international payment processor for Bitcoin. BitPay can be easily integrated into POS systems via API. An advantage is a fact that there are various tariffs so that in the end the decision remains with the company, and how the system is implemented.
POS solutions for self-service vending machines, supermarkets, retailers, and fast food restaurants are also available from Revel. It should be noted that the DOS package starts at 3,000 US dollars – for the iPads such as scanners there is a monthly fee.
Of course, if the company is dependent on cash, you should not forget that accepting Bitcoins also entails a certain risk.
If liabilities have to be serviced in the state currency, i.e. in euros, for example, the digital coins collected must be exchanged. Strong fluctuations in the prices of digital currencies, however, are not uncommon.
In the end, a profit is only made by those who have the opportunity to leave the collected crypto money on the side until the cryptocurrency Bitcoin has reached an attractive price.