1390
6 min 42 sec

Q&A: Should I accept Bitcoin as a payment method?

Today’s listener is wondering about Bitcoin, the world’s best known cryptocurrency—should he accept it as payment for his new app?
bitcoin Q&A

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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:

  1. Don’t be so afraid
  2. Don’t let them take the edge off your rebellious side, it will serve you well
  3. As soon as you can, put all your money into Bitcoin
Alas, my future self was not able to convey that message to my younger self.

"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...

 
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Inspiration is good; inspiration combined with action is better. Now get back to work!

Yours in the revolution,

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To infinity and beyond,

Chris Guillebeau