I have very little knowledge about things crypto, or blockchain in general. However, I know that things are looking bad for the crypto industry. Really bad. Multibillion crypto projects kama FTX zinafail. Trust in crypto is at an all-time low. But I am thinking about including crypto, specifically bitcoin and ETH as payment options kwa my business. Because traditional wisdom and my (admittedly limited) knowledge in this topic says you should buy low and sell high. Sai iko as low it can get, and it will continue to tank throughout the year. However, sidhani it will stay this way for too long. I am in it for the long haul, anyway. Nipeeni advice about what I should know before proceeding.
Umekosea hapo kwa “buy low and sell high”. If it was that easy we would all be billionaires right now.
Yes. You should include crypto as a payment method in your website. The goal should be to collect money from as many customers as possible, not to try and trade crypto. Customer akilipa you cash out instantly to eliminate that risk because you are not a crypto trader.
More payment methods = more customers = more money
Crypto speculation wachia wajuaji wewe focus na running your business.
Solid advice, had not though about it from this angle.
If you know tech youtuber Mental Outlaw, he recently opened a crypto only (Monero) online store.
Very interesting approach it would be interesting to see how it works out in the long run
Open crypto gateway to get access to sanctioned customers from Russia, Iran, Yemen etc. That is if your business covers them. Some wazungus also love the privacy crypto brings and therefore it would be easier for you
While the market may be experiencing a downturn now, many believe in the long-term potential of cryptocurrencies. As you mentioned, buying low and holding for the future could yield significant benefits. Before moving forward, it’s wise to educate yourself further on crypto transactions and the Ethereum network.Understanding concepts like gas fees is crucial for smooth transactions. This resource on gas fees provides valuable insights that can help you navigate the process effectively: https://help.myetherwallet.com/en/articles/5878945-what-is-gas-ethereum-network-fee. By arming yourself with knowledge, you can make informed decisions that align with your business goals.