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[AudraMiller]

Cryptocurrency has become increasingly popular and as a result many people are starting to venture into accepting cryptocurrency as a form of payment for their goods and services. However for a new business the risk is extremely high considering the fact that cryptocurrency prices are quite volatile. In order to accept cryptocurrency it should be with a good cryptocurrency that is surely going to increase in price with time or alternatively you can accept stable coins. Which cryptocurrency do you think is safe for a new business to accept without having to include too much risk?

 

[Skysaint]

The way cryptocurrency is going I don't think you to be accepted as a medium of exchange all over the world the whole market in cryptocurrency is not stable and I think one of the most important thing a currency should try and have is a level of stability in cryptocurrency can fly be used as a question have a cryptocurrency or a coin with level of stability in the market I don't trust bitcoin but I think we can go for aetherium

It can actually be adopted as a means of payment and making transactions worldwide. It had its limitations but that doesn't include instability ad there are some coins that are actually very stable in the market than you can convert your earnings to and be rest assured that you won't lose your money so easily.
The limitation to this that I observed is that most countries still don't buy the idea of dealing with cryptocurrency and as a matter of fact placed a ban on it. So I guess that's the potential threat towards achieving what you've just said.

 

[microunit]

If a business would want to accept cryptocurrency I would suggest coins that have fast transaction speed and very low to none transaction fees but also a coin that is widely used by the people. Although there is also the volatility problem that would affect greatly the profit of the business, I could suggest using crypto payment gateways as a way to this as it is much easier

 

[AudraMiller]

I think not all of them have high transaction fee. Stable coin like usdt doesn't really have high transaction fee. And when if they do, it will still pay off than accepting other coins that are subjected to volatility. Imagine collecting a coin now and the next minute, the coin loses its value.

I have seen that USDT does have a high transaction fee however this could just have been the wallet that i was making use of at that point in time, because i was using the exodus wallet and this one is noted to have very high transaction fees that are associated with all of their coins which can be a concern.

 

[BALABALA111]

I think it will be difficult for cryptocurrency to take over the market completely as a top exchange platform because the whole concept of cryptocurrency is not accepted worldwide and the market itself is not stable but I think it will be possible I'll prefer to have a coin that has a history of stability in the market coin like polka dots an aetherium of you my favourite

 

[BALABALA111]

Both for old and new business I don't think cryptocurrency as a medium of exchange will be nice for your business because the market will never be stable you can decide to collect such amount as a value of your items sold but once the market is scrambling it's more of like you are losing so I don't think cryptocurrency for its purpose of creation I don't think it is due to serve this purpose the instability of the coin will always affect your business

 

[AudraMiller]

I think it will be difficult for cryptocurrency to take over the market completely as a top exchange platform because the whole concept of cryptocurrency is not accepted worldwide and the market itself is not stable but I think it will be possible I'll prefer to have a coin that has a history of stability in the market coin like polka dots an aetherium of you my favourite

These two coins have not had any stability from what i have seen because even at the moment the price of the ethereum coin is on the downward trend and there is a lot of people that are losing money on this coin. However it will rise in the future but i think that this coin is jsut as volatile as any other coin.

 

[btaliat]

I have seen that USDT does have a high transaction fee however this could just have been the wallet that i was making use of at that point in time, because i was using the exodus wallet and this one is noted to have very high transaction fees that are associated with all of their coins which can be a concern.

It doesn't on binance. And have you tried other wallets for you to substantiate your point. Though I have not used any other exchange wallets apart from Binance but I may still think of using kucoin because of some coins that I want to trade in, that are not listed on binance.

 

[AudraMiller]

It doesn't on binance. And have you tried other wallets for you to substantiate your point. Though I have not used any other exchange wallets apart from Binance but I may still think of using kucoin because of some coins that I want to trade in, that are not listed on binance.

To be honest i have never made use of this coin other wallets as well, because i think that i was put off by the large transaction fee that i saw on exodus, however now that you have mentioned this i will try and look into other wallets as well so that i can use the coin in those wallets for payments. What are the typical transaction costs that you have seen?

 

[Makaliki]

It would be an excellent marketing strategy for new business to offer cryptocurrency payment method. With coins like Bitcoin, ETH, Litecoin, Doge and other coins of a valuable investment. Cryptocurrency users will have a place in the the new business. It an awesome thing when a business provides its costumers with a lot of payment methods.

 

[AudraMiller]

It would be an excellent marketing strategy for new business to offer cryptocurrency payment method. With coins like Bitcoin, ETH, Litecoin, Doge and other coins of a valuable investment. Cryptocurrency users will have a place in the the new business. It an awesome thing when a business provides its costumers with a lot of payment methods.

It is a good strategy because i have noticed that there is a lot of people that would start to ask about these coins and people actually tend to prefer it for payments as well because you do not have to give out any of your personal information in order to make the payment. Therefore it can be easier.

 

[Rollerkid]

As a matter of fact, I don't think it is advisable to accept cryptocurrency as a new business.
New business faces a lot of challenges during the initial stage, a lot of situations occur and the business has equal chance of survival and collapsing.
Crypto currencies are very volatile, unstable and not backed by the most states.
Other factors such as high transaction fees may affect the operation and stability of the business.
It is advisable to invest portion of the business income in crypto currencies than accepting in a business that is still new.
The consequences of integrating crypto currencies into the operation of a business is highly risky that the business may not last long.

 

[Shigobad2020]

It's not advisable to be using a cryptocorrency as a transaction of paying or collecting money for business because of its nature. Though, you can a USDT for transportation but I'm thinking about the fees.

Like we all know that all the crypto currency has their volatility in nature and thats why they are always flunctuating and dangerous for a new business to be taking crypto currency as a form of payment.
But I will suggest litecoin, because is easy ,fast and efficient plus it has a low gas fee.

 

[Tundeson]

I think that if a business should accept any crypto currency it should go for a currency that is very strong and it's value in the market should guranteed and currency that is well known and accepted all over the globe so I think Ethereum or Bitcoin should be very okay if a business wants to accept crypto currency.

 

[dorcasy]

This is not arguable, A new company should go for stable coins or low end coins that have low transaction rate like ripple, monero and litecoin.
I don't really see the logic of actually using cryptocurrency for business transaction as a company because the funds will not be easily trackable for future records.

 

[Kubiat-Abasi]

Well, I don't even advise a new operating business to legalize cryptocurrencies as a legal tender. Cryptocurrency is volatile and may have an effect on the business when the market value drops. It is better to establish the business on a long term before accepting cryptocurrency. However, this is innovative and could be a strategy to boost sales.

 

[AudraMiller]

As a matter of fact, I don't think it is advisable to accept cryptocurrency as a new business.
New business faces a lot of challenges during the initial stage, a lot of situations occur and the business has equal chance of survival and collapsing.
Crypto currencies are very volatile, unstable and not backed by the most states.
Other factors such as high transaction fees may affect the operation and stability of the business.
It is advisable to invest portion of the business income in crypto currencies than accepting in a business that is still new.
The consequences of integrating crypto currencies into the operation of a business is highly risky that the business may not last long.

I completely agree with you because cryptocurrency is very volatile and therefore a new business will not be able to manage the risk that is associated with this financial system whilst still trying to actually overcome many of the challenges that they do have in the business when they are getting started.

 

[Brain]

I believe it's better to receive coins with promising increase,and well known coins like Bitcoin, etheruem, dogecoin.

Thats it for me going only for coins that are popular, stable and of better value which be the watch word. no need gathering coins that will become shitty tomorrow. it might really hurt your finances when you can't do much with such coins so the best bet will be to check the coins value first before including it in your payment options.

 

[Dav1d]

Thats it for me going only for coins that are popular, stable and of better value which be the watch word. no need gathering coins that will become shitty tomorrow. it might really hurt your finances when you can't do much with such coins so the best bet will be to check the coins value first before including it in your payment options.

But don't you think it would be alot safer to make use of stable coins like USDT and the likes? Cause the price value of Bitcoin, Ethereum or doge are not stable you might be selling a particular item for a specific amount of Bitcoin, then Bitcoin drops, which means anyone coming to buy, you would be at a loss. Unless you plan on changing price every time, which alot of customers won't like. Then not to mention the speed as well for transactions.

 

[Brain]

But don't you think it would be alot safer to make use of stable coins like USDT and the likes? Cause the price value of Bitcoin, Ethereum or doge are not stable you might be selling a particular item for a specific amount of Bitcoin, then Bitcoin drops, which means anyone coming to buy, you would be at a loss. Unless you plan on changing price every time, which alot of customers won't like. Then not to mention the speed as well for transactions.

Well I think it will better to study the market and know the right payment option to adopt at a given period. if one coin is no longer favourable then the best bet will be to remove such a coin and replace with a new one. I know it can be tiring that way but no way out than to make it that way for your business.

 

[Dav1d]

Well I think it will better to study the market and know the right payment option to adopt at a given period. if one coin is no longer favourable then the best bet will be to remove such a coin and replace with a new one. I know it can be tiring that way but no way out than to make it that way for your business.

Yea you got it, it can be pretty tiring not even for you but rater Your customers, as some might be used to the first coin and might have actually bought that particular one simply cause they have planned on purchasing something from your store only to come and discover that you nolonger make use of it.