HELP --> Accepting Bitcoins as payment for my Hotel in India
Hey there,
So I run this little budget hotel in North India - wrote about it here. I want to start accepting bitcoins for payments that customers do here.
Now most of my walk-ins in the hotel are Indians itself (as compared to international tourists). So, the best way to get payments from Indians is by two ways IMO : one is, they are registered on Steemit already and transfer me the equivalent here , provided they have balance here. Or two, they send me equivalent via local Indian apps like Zebpay.
What do you suggest? Which is the best way out?
Ofcourse, the percentage of people who actually pay me via Bitcoins will be super less but nevertheless, I want to make a start. Sounds interesting?
Any ideas? I am sure cafes / shops / hotels in other countries are accepting coins now as an alternate mode of payment. Any help will be appreciated guys :)
Quite simple. You can do either of these two things.
Setup a blockchain.info / bitgo / greenaddress wallet. Get the wallet address for receiving payments. Make a QR code for it and put both the address and QR code wherever you want to display. This is good if you want to store the bitcoins you receive and only if you plan on selling them occasionally.
Any Indian exchange wallet/ trading engine address (coinsecure/zebpay). You display your wallet address from any 1 Indian exchange if you plan on selling any btc that you receive. Since bitcoin has a certain amount of fees associated with sending it, It's best you use an Indian exchange to avoid paying extra fees when transferring it from your storage wallet to your trading wallet. I'm suggesting this as the amounts you are sending might be small but the fees may remain higher/constant.
You are welcome to take payments in btc at the reception desk and change the address you want to receive based on your needs. When you want to store it you can use 1. When you want to sell it use the 2nd option. But unless you are going to hold a LOT of btc I recommend holding it on an Indian exchange as you might be selling it frequently.
Phew - that's one detailed reply there. Highly appreciated.
Thanks again :-D
makes sense BP. However would suggest you to accept them on bittrex.
Bittrex allows you to use that money in investing other currencies and its not even listed to your PAN. Zebpay on the other hand asks for your Pan details and shows inflated prices.
True that (about PAN) - have made an account on Bittrex but im stuck at the verification level. It always shows "We could not match your information to our public record providers. To complete the verification process, you must apply for an enhanced account."
Any other provider @thenomadictales
Try with other email I'd. Enhanced verification is also good since that allows you to control coins via app.
I made accounts on several platforms however zeroed down to bittrex (exchange) and (koinex + zebpay) for fresh investments
Uploaded documents again - and it went thru :)
Great
Just read the post about your hotel, that sounds like a really fulfilling experience. I'm a tech and automobile journalist myself, and just did my first trip to the Himalayas as part of RE's Himalayan Odyssey, and man it was an experience. Unfortunately, didn't pass through Manali.
Hoping to do a few more trips to the mountains with friends on a more relaxed schedule sometime in future. Nice to know that a fellow member of the community with similar interests has a hotel there.
All the best for your endeavour!