Bitcoin – eCommerce – Trick
The Bitcoin eCommerce” trick is basically where you accept “crypto” money ter an eCommerce store (for real world goods). Whilst the payment you receive will be 100% “crypto”, you’re able to exchange the “cost” of goods sold (COGS) out via an exchange, and keep the profits spil “crypto”.
The aim is to rail any price increases te the underlying “crypto” assets, which should amplify your profits. Obviously, this works the other way – ter that it could also lead to a loss of profits due to a druppel ter the price of the “crypto” tokens you were paid. However, generally, if you play the spel decently – you should be able to increase your profits fairly substantially with this method.
This tutorial is going to shortly explain the various points about the way this works. To do so means that you have to ensure that you understand fully what you’re doing, and how the process will grow.
Firstly, if you run an “eCommerce” store, you will need to accept payments.
With the plethora of services online today (including the likes of Stripe and PayPal), you have many ways to “receive” payments without the need for a traditional “merchant account”.
One of the newer ways to do this is with a service called BitGo. This is a “payment receipts” system for “crypto” tokens. Basically, it permits businesses to accept “crypto” currency for their products or services, permitting users to take utter advantage of the likes of Bitcoin, Ethereum etc without fearing any security issues (BitGo is intensely focused on security implementation).
This means that if you receive any money via “crypto” tokens, whilst their price will often be line with the various “fiat” currencies – they will typically be fairly volatile. For this reason, it’s often the case that many eCommerce store owners will simply “exchange” their “crypto” tokens for 100% fiat currency either at the end of the month, or after an order is received.
The “trick” employed by a large number of store owners is to actually keep their profits ter the “crypto” ecosystem. This means they pay for everything else – including the likes of their COGS, warehousing and administrative costs – whilst retaining the unspoiled profit te their exchange accounts.
By doing this, they have nothing to lose (and everything to build up) by letting their holdings rail the price sways of BTC and the other “crypto” tokens – multiplying their holdings quicker than any savings account could everzwijn do.