Is good to accept payment in crypto?

A

Alexishost

Member
Hi guys,
what do you think about crypto?
1. Is it good and secure to accept payment with crypto currency?
2. How to start accepting payment with crypto currency? what the things that need to be considered?
3. What crypto coin do you suggest ?
 
Hi Alexishost,

While I have very very little experience with crypto currency, I can tell you that I met Frederick Coleman, VP of Growth with Blockonomics at CloudFest 2024 USA a few weeks ago. He was great to speak with and explain things to me! They help companies process crypto, but the funds never really pass through their company from what I understand. Go check them out!

Please be sure to report back here if you choose to go with them and give some feedback. Thanks!

Bitcoin Address | Wallet Lookup - Blockonomics

Check Bitcoin addresses, lookup transactions. Monitor wallet balances using xpub with our block explorer. No signup required, free to use!
www.blockonomics.co www.blockonomics.co
 
I wouldn't personally touch crypto, way to unstable. But I've seen car dealers accepting crypto as a legitimate payment, so why not hosting? 😂
 
You can accept payments in doughnuts if you wanted. Heck, I have traded hosting and consulting for cigars and whiskey. It's all whatever you think it's worth.

If you trust Crypto, then accept it. Evaluate your Risk Assessment guide and determine if that's the best thing to do for your business.
 
For me No! Accepting Cryptocurrency means increasing risk factors for your business. It may attract wrong set of customers to your network. Mostly, hackers, spammers, phishing sites, DDoS attackers who will signup for your platform as they don't want to leave any proof of their real identity.

Another issue is volatility, lets assume you accepted a payment a rate market rate, then after few hours it can go down, so you may need to wait few times to go it up, so you can sell it at market price.

Another issue is, Money Laundering. Your client may send you some part of Hawala Money, and investigating agencies may track it down.

While accepting Cryptocurrency payments, I would advise to consider risk factors, and work accordingly to minimise it.
 
Alexishost said:
Hi guys,
what do you think about crypto?
1. Is it good and secure to accept payment with crypto currency?
2. How to start accepting payment with crypto currency? what the things that need to be considered?
3. What crypto coin do you suggest ?
Click to expand...
1. It can be a good and secure option to accept payments with cryptocurrency, but it's important to be informed about the risks and benefits.
2. To start accepting payments with cryptocurrency, you'll need to set up a digital wallet, choose a payment processor, and educate yourself on the legal and tax implications.
3. Popular and established cryptocurrencies like Bitcoin, Ethereum, and Litecoin are generally safe options for accepting payments.
 
OnTheCloud.co said:
While I have very very little experience with crypto currency, I can tell you that I met Frederick Coleman, VP of Growth with Blockonomics at CloudFest 2024 USA a few weeks ago. He was great to speak with and explain things to me!
Click to expand...
I did an interview with him as well actually. He is a great speaker and he explains things well. Coming to our news outlet soon!
 
Generally speaking, it's best to offer the maximum possible amount of payment options.

Whether or not this business model is feasible for your team is another thing.
 
yes, its good. you will serve a loyal community and it will stick.. we been accepting crypto for years and got some long term clients.. moreover you can convert crypto to usdt to handle volatality
 
Alexishost said:
Hi guys,
what do you think about crypto?
3. What crypto coin do you suggest ?
Click to expand...
I believe Bitcoin and Ethereum are popular choices due to their widespread use and stability. However, it's good to research and choose based on your business needs and the coins' market stability.
 
Artashes said:
I did an interview with him as well actually. He is a great speaker and he explains things well. Coming to our news outlet soon!
Click to expand...
That sounds exciting! It's true that Frederick Coleman’s insights are always valuable.
I am looking forward to reading the interview and learning more about his perspectives on crypto!
 
Personally I don't think it is, the value changes too much for a stable income unless you withdraw as soon as payment is made, it can work both ways but if you don't mind taking the risk it could pay off.

I would stick with Bitcoin if I was going to accept it.
 
Oh, I should have accepted bitcoin as payment back in 2016. He's now over $100k, who knew :( It is necessary to accept cryptocurrency for payment nowadays, because there are more and more places where cryptocurrency is recognized and this will affect our lives in the future. In general, take the crypt despite the chances that it will drop in price.
 
Mivocloud said:
Oh, I should have accepted bitcoin as payment back in 2016. He's now over $100k, who knew :( It is necessary to accept cryptocurrency for payment nowadays, because there are more and more places where cryptocurrency is recognized and this will affect our lives in the future. In general, take the crypt despite the chances that it will drop in price.
Click to expand...
Oh I feel the pain, I did actually accept it as payments back in the early days, lost access to my account and try not to think about it, or how much it would be worth now.

When they release bank cards for them, that’s when the game will change (if it every happens) in my opinion
 
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