Accepting BTC as a payment method \ stacker news ~bitcoin

291 sats \ 10 comments \ @Bitcoiner1 2 May 2023 bitcoin

I've a friend who owns a small cafe and I want him to start accepting BTC but I'm not sure what is the right approach...

Maybe for the btc maxis the focus will be on self custody and having a node.

Maybe for others, the focus is on how user friendly is the interfece (for the customers & owner)

What do you recommend??

Gracias

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10 sats \ 0 replies \ @02404da10a 3 May 2023 freebie

Coinos wallet getting started video

17 sats \ 0 replies \ @kenn_b 2 May 2023

The simplest/fastest way? Download wallet of satoshi, go to top right menu and click point of sale to get a terminal to charge the customer.

Figure out everything else later when u see the actual usage. (self custody, onchain cold storage, etc)

128 sats \ 0 replies \ @DarthCoin 2 May 2023

Here I wrote some guides that could help him:

A TLDR:

start with simple ones and slowly once he will understand what is going on, move to more self-custody.
the most simple way: coinos.io and move the funds to an onchain wallet that he can control, each day or week, whatever he consider enough to move.
for a face to face shop, even Phoenix or Breez are the most easiest mobile apps to use for someone that have no idea how to deal with accepting BTC.

You speak spanish, so please watch also this excellent episode from @Lunaticoin

0 sats \ 0 replies \ @Bitcoiner1 OP 3 May 2023

Thanks for all the information and different opinions.

0 sats \ 0 replies \ @criptopanas 3 May 2023

Coinos Online Wallet will be a good starting point.

0 sats \ 0 replies \ @kristapsk 2 May 2023

Simplest way for the start is to just install some wallet on phone and use that for customers that want to pay with Bitcoin. For Lightning Network simplest will be custodial Wallet of Satoshi (should not keep big amounts there), for onchain I would recommend Blue Wallet.

0 sats \ 0 replies \ @Maximux 2 May 2023

What I can tell you is that it is recommended to use the Bitcoin Lightning Network (LN). So the coffee does not become more expensive with the fees😅

0 sats \ 1 reply \ @SwearyDoctor 2 May 2023

the first concern will be accounting. How do you account for the income in your books, how do you show and prove it, and what are the pesky questions associated with this, how do you answer these (preferably, easily)? I'd find resources on how people who do accept btc have solved this and anticipate this as the first question after the initial, "hey, how about accepting bitcoin payments?"

0 sats \ 0 replies \ @SovranSystems 3 May 2023

This is a complex answer to a complex question:

One the one hand, if one wishes to use government systems meaning fiat, accounting, taxes, etc., then there seems to be resources available by "crypto" lawyers and "crypto" accountants to guide you along the way.

Also, a good resource would be River Financal's support pages for this issue: https://river.com/learn/bitcoin-taxes-and-estate-planning/

Most people will go this route because they are too afraid to do things outside of governments and their enforcing departments and will stay in the government's jurisdiction.

Rightfully so, because governments hold all of us Under Duress because they threaten us with violence (fines, coercion, assault, battery, kidnapping, imprisonment, etc) when there has been no injured party, but only when their made up "laws" are not followed. These threats of violence loom over all of us, thus leaving us Under Duress.

In another world, one without violence, which is moral, I take Bitcoin in my private practice under my jurisdiction. I do it the right way via private contract and free will choice. No need now to "prove" or show "income" as I am no longer in their jurisdiction.

Some resources to understand the moral way are -

Mark Passio's Natural Law video series: https://odysee.com/@woeih:e/Mark-Passio-Natural-Law-Seminar-Part-1-of-3-2013-10-19:c

And then this is a good primer: https://freedom-school.com/mercier/index.htm

0 sats \ 0 replies \ @joda 2 May 2023

Just an old phone with a custodial lightning wallet on it. Leave it on the charger because it's not going to get used much. Train the staff.