Accepting Bitcoin as Payment: Smart Business Move or (HUGE) Mistake?

[@twan_breezand8454]

If you can't take the risk of losing money to bitcoins volatility as a business, then I recommend using a bitcoin payment gateway. This means the bitcoin will immediately transfer over into fiat at the current market price. So no risk of volatility while still having the benefits of accepting bitcoin (more sales, no chargebacks, lower fees)

[@neilpatel]

Thanks for sharing that idea :)

[@affiliatewatch]

Youll lose customers like me. Merchants arent effected if they convert to fiat instantly. You should delete this video dude, gives people wrong impression. Or atleast do an update video.

[@neilpatel]

Like I mentioned in your other comment, it is possible to convert instantly but will depend on where you are. That's why it's best to research as much as possible to make an informed decision.

[@affiliatewatch]

Neils argument is VERY poor because you can convert to fiat instantly with most popular coin gateways. Says its the futuee, but no idea what hes talking about here!!!

[@iliyaniliev6798]

So if you would convert to fiat, why accept BTC, punk?

[@maciejkatarzynski6833]

@@iliyaniliev6798 low fees, it can be paid to anyone in the world (so no borders / restricted countries), it might be taken as an asset to sell later

[@neilpatel]

You can convert it instantly but tried to get approved for it. It is easy for some people, but not everyone depending on what country you live in. I do agree though, if you convert it instantly it isn't as big of a deal.

[@iliyaniliev6798]

@@maciejkatarzynski6833 Converting to fiat also has transaction costs, at least on my planet! This whole logic is completely faulty.

[@maciejkatarzynski6833]

@@iliyaniliev6798 yes but still these transaction & exchange costs are lower than in standard payments system like Paypal or Wire Transfers. If you or your planet need any more explanation - feel free to ask :)

[@MichaelWhite-m5i]

Thanks for sharing such valuable information! I need some advice: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). Could you explain how to move them to Binance?

[@ResourceTalks]

*I believe that there is more than one way to look at this. Accepting the value of your goods/services but just in Bitcoin (at this very moment) could be profitable. But accepting fixed amounts of bitcoin (right now) could cost you customers in the long run.* *Bottom line is, if you analyze the pros and cons for YOUR OWN business you could come up with an answer that a lot of people won't like, or maybe they'll love it instead...*

[@neilpatel]

Great insights :)

[@scottwright2375]

Low profit margins are actually a compelling reason to use a service like Bitpay. You get cash deposit direct into your bank account, usually same day, the exchange fee is around 1% (you get the full $ value you expected minus the 1%) and NEVER have to deal with CC chargebacks. What CC payment provider do you use that offers a better deal? I’d LOVE to know!

[@neilpatel]

Great point, Scott!

[@garrettzucker2894]

Your actually right, I didnt even consider debit & credit fees with online purchases, again another reason why I use bitcoin

[@zshn]

When this video came out, Bitcoin was at $6422 😅

[@zitizen]

Sensible.

[@neilpatel]

Thank you!

[@rhysadams]

In the UK the chances of getting links from bloggers, etc is really low to help with inbound links, its a very closed system here and UK people aren't as willing to help unlike Amercians. So what else can we do to help get backlinks into our website?

[@neilpatel]

I think it has more to do with the approach and pitch than it does the people. I know for sure that link building works well in the UK. You just need to test different methods and approaches to see what works the best.

[@turtleraving4life]

Just don’t pay me in btc when it’s going up. I’m gonna be checking the market

[@neilpatel]

I hear ya!

[@AndyRocket1000]

Thank you for an easy and informative video

[@neilpatel]

Glad it was helpful!

[@DigitalShashi]

Bitcoin is long Investment.. ! Hold for profits

[@neilpatel]

A lot of people are saying that. We will see :)

[@ifrantortosa]

Me watching this while btc just hit 50k. Wish to go back to 2018

[@neilpatel]

Right!

[@karlanders686]

Please make a video about backlinks & indexing. We have a ton of backlinks but can't get near competitors because the backlinks they have have been indexed by google & ours havnt...even though they're all on the same platform (centralindex). A video about pinging & backlink indexing services would be great & there's very little information on the net about this for some reason.

[@neilpatel]

Thanks for the suggestion, Karl!

[@corycrabb6626]

Use statistics not emotion to allow for the best use of this /ANY information. why argue information?

[@neilpatel]

Good one :)

[@VardenMusic]

simple, honest and educating. :)

[@neilpatel]

Totally :)

[@JubayerJoy]

Neil I'm a great fan of you. If you make a video about how to start Amazon affiliate marketing that would be really helpful for me as well as the new affiliate marketer. Because digital product marketing is a really complicated process for new affiliate marketers.

[@themanthemyth7950]

I rem one time someone hit my my FB business page and asked me directly... "If there is a chance If i'd like to reach more customers using Barter or trade options" lol.

[@neilpatel]

:)

[@Gs-pi1et]

Sir talk about seo future

[@neilpatel]

Thanks for the suggestion :)

[@hmatisse8857]

Do you recommend me working on 10 different ideas (10 different websites) at the same time in help with freelancers to create content, and gain at least 100-300$ per site ?

[@neilpatel]

I recommend focusing on one until you find some kind of traction.

[@mukombertrand]

Great argument Neil. How would you start an online business in a developing country with small amounts of internet users? Any suggestions?

[@neilpatel]

The same was I would in any other country. Building a strong content and SEO strategy. Ranking for the keywords I am focusing on. And dominating search. This way, when the market catches up and more people are online, you are already ahead of the competition.

[@divyeshchaudhari3627]

Love your videos as always ✌️

[@neilpatel]

Thanks so much :)

[@MotiveVideoBook]

I'm so ignorant about Bitcoin. This was helpful and interesting video.

[@neilpatel]

Glad you liked it!

[@northlaketahoeboatrental]

Video didn't age well.. $6k at the date of this video

[@neilpatel]

There's still time!

[@manavsingh7378]

Good topic to touch Neil!

[@aadarshchoudhary4321]

Bhai tereko dusra koi kam nhi h kya. Har videos pe comments krta rehta h

[@neilpatel]

Thanks!

[@hasan0191]

guys search in google bitcoin pizza.

[@neilpatel]

Crazy story, right?

[@PDstudioX]

Very insightful info. Thanks, Neil! PS I noticed a frame drop/cut at 0:38 (maybe you want to re-upload or something)

[@neilpatel]

Thanks for letting me know!

[@ChessMasteryOfficial]

*From error to error one discovers the entire truth.*

[@neilpatel]

Good one :)

[@ChessMasteryOfficial]

@@neilpatel Thanks bro! :)

[@aadarshchoudhary4321]

I m happy to see that u support crypto. accept usd thether lol

[@neilpatel]

I think crypto is very interesting :)

[@nirajforhelp]

Hello sir I am niraj from India Please add subtitles in your videos Please sir Thank you

[@neilpatel]

There are subtitles, Niraj. You need to click CC on the video ;)

[@perrymcmillan2787]

I just got into bitcoin trading two day ago and I'm still yet to get a professional trader that will guide through the process..... How do I get started

[@smithbrown06]

For real bitcoin is a life changing business

[@brutustimidi9907]

Investing in bitcoin now should be at the top of every wish individuals list.

[@susannebullock4562]

I advice you contact Expert Mrs Linda.... Because her trading strategy is really working for me all this years Counting loses and ensuring profits

[@susannebullock4562]

Expert Mrs Linda contact details...+1 8 5 7 2 4 0 4 4 2 5 WhatsApp 👆👆👆

[@johnnyocy]

You are right the market is profiting if you are really a good broker or account manager

[@advertlines]

I dislike Bitcoin. I dislike things you have no control over. But I might be wrong.

[@scottwright2375]

Advert Lines That’s actually why I use bitcoin! I dislike bank money because I have no control - it can be seized, frozen. reversed, or blocked, all without my permission. To make matters worse, the value of bank money isn’t up to the market’s perception of its utility - it’s up to an elite cabal of people I have zero reason to trust.

[@neilpatel]

Like Scott mentioned, we have very little control with the current monetary system as well.

[@advertlines]

@@neilpatel l The government control laws. Bitcoin control nothing but a desired place people want in life using nothing more than media to control the thinking of people right? I was told bad people use artificial scarcity by using bots that trade with each other to make numbers look better. Looking forward to the future and hopefully I'm not the sucker that lost. P.S. I'd rather be the sucker than didn't make money than the sucker that lost money. But I could be wrong! Read more REPLY Hide replies