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The trick of Bitcoin eCommerce is basically where you accept “crypto” money in an ecommerce store (for real goods). Although the receipt will be 100% “crypto”, you will be able to exchange the “price” of the goods. sales (COGS) through exchange, and keep profits as “cryptocurrencies”.

The goal is to secure any price increases on basic “crypto” assets, which should increase your earnings. Obviously, this works the other way too – as it could also lead to a loss of profit due to the drop in price of the “crypto” token you were paid for. If in general, if you play the game correctly – you should be able to significantly increase your earnings with this method.

This tutorial will briefly explain the various points about how it works. This means you need to make sure you fully understand what you are doing and how the process will grow …

First, if you run an “eCommerce” store, you’ll need to accept payments.

With the multitude of online services today (including ones like Stripe and PayPal), you have numerous ways of “receiving” payment 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 pay-as-you-go system for crypto tokens. Basically, it allows companies to embrace “crypto” currency for their products or services, allowing users to take full advantage of Bitcoin, Ethereum, etc. No fear of any security issues (BitGo is focused on security implementation).

This means that if you receive any money through “crypto” tokens, although their price will often be in line with various “fiat” currencies – they will usually be quite volatile. For this reason, it is often the case that many e-commerce store owners will simply “exchange” their “crypto” tokens for 100% fiat currency either at the end of the month or after receiving an order.

The “trick” that a large number of store owners employ is to actually keep them profit in the crypto ecosystem. That means they pay for everything else …

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Source by Richard Peck

 

 

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