There are more and more stores that accept bitcoin in world. Accepting payment with bitcoins has become a differentiation strategy from the competition and a new business opportunity. However, when considering to buy btc for our own business.
Many doubts arise about what it means. What are the risks of accepting bitcoins? What advantages does it have? How should the operations be carried out? In this article we will try to shed some light on all these issues.
Advantages Of Trading Bitcoins
More and more people are looking for stores that accept bitcoin as a payment currency. Charging in bitcoins will help us reach them and can also be used as a marketing strategy.
Many people may come to see your product or service just out of curiosity to know that you allow payment with this cryptocurrency. In addition, we will offer a much more modern image in keeping with the times.
One of the most important advantages of trading with bitcoins is the immediacy of payment.
Regardless of where our client is, we will receive the payment in a period that goes from a minute to an hour, no waiting days to receive the payment for transfers. All this without having to pay almost no transaction fees.
It should also be noted that the European Union has already accepted bitcoin as a means of payment, so operations with the cryptocurrency are exempt from VAT, with the advantage that they do not depend on any central bank.
We only need a QR code that we can send by email, phone or physically, so that anyone can deposit the money in our virtual wallet. This code only allows entry, so we will not run the risk of theft.
Finally, perhaps the most important advantage is that bitcoin cannot be counterfeited and that there is a maximum amount of 21 million at any given time.
In addition, bitcoins can be divided up to 8 decimal places. So that we can adjust the price, and payments are irreversible. So you will not have to worry about returns.
Risks Of Getting Paid In Bitcoins
The most important risk of cashing in bitcoins is the volatility of this cryptocurrency. After a few years in continuous rise, in recent months there has been a large drop in its value, until now when it has stabilized again on the rise.
Therefore, if we are going to accept payment with bitcoin. It is important that we are clear about the two options available buy btc to us. On the one hand, we can collect in bitcoins and keep them as an investment.
We already told in this article that bitcoin worked for the Treasury as one more investment product. Like any investment, it is the option that has a higher risk. Although we will not have to pay taxes for it.
On the other hand, we can directly transform the payment in bitcoin into euros. In this way we ensure that what we receive is the exact cost of our product and service.
To do this, we need to use a virtual wallet or purse buy btc. Depending on the one we use, we will have to pay our taxes or the wallet will do it directly.
It is important to remember that the payment of taxes is made by transforming bitcoin into euros. That the percentage that we will have to pay will vary between 19% and 23%.
Depending on the section in which we find ourselves. Therefore, depending on the price of bitcoin, it may not be profitable for us to use them.