What It's About
A listener seeks advice on accepting Bitcoin as a payment type. What should they know?
Notes from Chris
Episode 1390
Today’s listener is wondering about Bitcoin, the world’s best-known cryptocurrency—should he accept it as payment for his new app? I would tell my younger self three things:- Don’t be so afraid
- Don’t let them take the edge off your rebellious side, it will serve you well
- As soon as you can, put all your money into Bitcoin
"Hi Chris, this is Nick from Salem and I recently found your show after a friend recommended it. I’m really enjoying all of the side hustle stories. I’m getting ready to launch a new app that will be available for Android devices. I’m going to apply for listing in the Google Play store, as well as several other online directories, but I also want to offer it for direct sale on my own website. That way, I can sell to people who discover it there without paying commission to a third party. I can even offer a discount for direct sales and still come out ahead by splitting the commission savings between me and my customer. But of course, to sell directly I need a way to accept payment. PayPal is easy enough, but a friend suggested I offer an option to take Bitcoin as well. I’m not sure if that’s a good idea, or even how I would go about doing it … since there’s not really a Bitcoin bank on every corner, at least not where I live. Also, what do you think about cryptocurrency in general? Thanks and I look forward to your response."Listen to today's episode to learn more...
SEE ALSO:
- Bitcoin YouTuber Earns Thousands in Affiliate Commissions: A Dutch cryptocurrency enthusiastic takes to YouTube to explain it to his countrymen, earning commissions from tools and resources he endorses.
- Gmail Tool Generates $1 Million a Year: After looking for a way to send mass emails by Gmail, this web developer stumbles on more than a million dollars a year in recurring revenue.
- Oh Snap! Photography Site Turns Into Passive Income Hustle: A traffic engineer begins shooting wedding photography to make some cash on the side, but it’s his niche tutorial website that earns the real money… at least until it doesn’t.
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