Should I accept bitcoin on my website?

Redd's picture

Bitcoin seems to be talked about a lot these days. Should I give people the option of paying by bitcoin on my website?

Chris_A's picture

Bitcoin is a bit risky,

Bitcoin is a bit risky, because its value tends to fluctuate a lot. One day, 1 bitcoin is valued at 150$, a few weeks later it drops to about 50$, then back to 200$ and so on and so forth. I think bitcoin is not really stable medium to make payments and transactions yet.

danielledavidson's picture

I agree that I don't know if

I agree that I don't know if you should accept bitcoins. I mean can you even turn that into real money? I have heard about it before, but I don't know too much about it. I don't think that I would ever personally accept it.

WisTex's picture

Converting Bitcoin into Cash Instantly

Thanks to the popularity of bitcoin, there are actually some services that will allow you to accept payments in bitcoin, but get paid immediately in U.S. dollars or another currency, which reduces or eliminates the risk of fluctuating bitcoin exchange rates.

We have an article on the website about it here:

I added the link as a related article.

Scott M. Stolz
Complete Hosting Guide, Editor-in-Chief
WisTex, Director & CEO

Chris_A's picture

Yeah, that is the thing about

Yeah, that is the thing about bitcoin. While risky, you could possibly get more cash for each bitcoin you receive, if you decide to wait and cash out when bitcoin is really highly rated.

I Wouldn't Bother

Personally, I wouldn't bother with it. To me it isn't as widely accepted yet to make it worth the hassle. Unless you are dealing with a lot of European sales. I hear it has really caught on in Europe, but you would have to do the research. If I was selling something where 60% or more of my customers was asking for payment in Bitcoins then I would look into it.

FishermansFriend's picture

Go for it

There are easy solutions for taking payment in Bitcoin these days, and exchanged immediately so you don't have to worry about the rates plummeting. When I sell digital items about 25% will pay in bitcoin.