Do you think the volatility of bitcoin could affect shops acceptance of bitcoin

Wisdom01

Valued Contributor
Do you think the volatilty of bitcoin could affect the shops looking to accept bitcoin as payment option ,there are so many shops that wants to accept bitcoin as payment option ,but the little volatility in the coin have been an hiderance to the acceptance of the coin and the profit they could be wiped off ,because of the huge fall in the price of bitcoin ,also the high transaction fee is abother discouraging effect that makes them to stop accepting the use of bitcoin since most earn small profit andthe transaction fee could wipe out both the investment associated with the coin ,so what option do you suggest the small shops to take ,do you think there could be another Means they would just rather choose to do than just using bitcoin as other companies are making use of it for many option i would like to hear your opinion on bitcoin effect on small shops
 

Sammyesx

Active member
Accepting payments in crypto currencies will not be idea for such small businesses that depends on their daily sales because of the fluctuations of the price of crypto. If a shop owner was to sell all his goods at a lower price and the price of the coin increases when he wants to buy new goods, he will definitely has run into loss
 

Sotherefore

VIP Contributor
About that the top other things that affect cryptocurrency from being accepted as a normal mode for payment of goods and services, things that affected cryptocurrency from being accepted as normal coin for daily transaction is the high widrawal fee that is associated with it.
 

Alexandoy

VIP Contributor
In another thread about adopting bitcoin by a country to be their currency I explained about the pecuniary measure of a country's currency. That is directly related to this topic. Let's say a snack shop will be paid in crypto, how will the shop price its products? How much Bitcoin is a cup of coffee and one bagel that I would pay with Doge, how much in all? That would confuse the seller.
 

Chibson

VIP Contributor
bitcoin as a cryptocurrency has grown very huge over the years and has garnered a lot of acceptance all over the world. I don't think the volatility of its price will be a setback to its acceptance. Until people realise that bitcoin shouldn't be judged by its current price but by its quantity, then they will continue to wander in the cryptocurrency world.
 

sincerem

VIP Contributor
I don't think their is any offline or online store, that will accept payment using BTC when their is volatility in it. They'll only go for stable coin when ever they're simply ready to be accepting Crypto payment option via their store. At the moment, it won't occur until the coins shape well and start moving up to promising lane.
 

Lens1000

VIP Contributor
Bitcoin is an asset. how can your purchase a soap with an asset? you will agree with me that, their is no correlation. It is practically impossible for a shop to accept bitcoin as payment for its goods and services. It seems there is a misconception about the cryptocurrency in the air. We need to do more sensitisation, so that people won't be confused.
 
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