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RE: HELP --> Accepting Bitcoins as payment for my Hotel in India

in #cryptocurrency7 years ago

Quite simple. You can do either of these two things.

  1. 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.

  2. 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.

  3. 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.

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Phew - that's one detailed reply there. Highly appreciated.

  1. yes i plan to store them as part of the earnings from the hotel.
  2. Yeah, as we are a budget hotel, tariff is less. And Zebpay sounds good
  3. Makes sense.

Thanks again :-D

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