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Tue May 3, 2022, 08:58 PM

Small businesses not fully on board with cryptocurrency payments

Small-business owners are not gung-ho about accepting Bitcoin and other cryptocurrencies as payment — although are slowly trying them out.

That's according to a survey of 300 small-business owners by financial products firm WalletHub Inc., which found 45% small-business owners are not in favor of accepting cryptocurrency as payment, while another 33% are indifferent about it.

“Cryptocurrencies don’t have too much merchant support because they aren’t regulated or backed by any government, and wild price fluctuations occur almost daily,” said Delaney Simchuk, an analyst at WalletHub. "People are generally hesitant to change what they’ve been doing successfully for a long time, especially if they don’t understand the need and the switch seems risky.”

Cryptocurrencies, such as Bitcoin, are digital currencies protected by cryptography and accounted for using an often decentralized database technology called blockchain. While cryptocurrencies have grown in prominence and are actively traded by investors, they remain polarizing among small businesses, with proponents praising their ease of transfer and freedom from government and bank intervention and critics emphasizing challenges posed by price volatility.

https://www.bizjournals.com/seattle/news/2022/05/03/bitcoin-crypto-cryptocurrency-payments-business.html

Don't blame them.

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Reply Small businesses not fully on board with cryptocurrency payments (Original post)
Yo_Mama_Been_Loggin May 3 OP
keithbvadu2 May 3 #1
JCMach1 May 3 #2

Response to Yo_Mama_Been_Loggin (Original post)

Tue May 3, 2022, 10:36 PM

1. How do you deposit cc into your business checking acct?

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Response to keithbvadu2 (Reply #1)

Tue May 3, 2022, 10:43 PM

2. Most systems deposit it as US $ in your business account with much, much

Smaller fees than credit cards

If you choose to HOLD the crypto the fee is negligible on Lightning Network ⚡ providers

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