The trick of e-commerce with bitcoins “is to take “cryptocurrency” in an e-commerce store (for real goods). Although the payment you receive is 100%” cryptocurrency, “you can trade” the value of “sold goods( COGS) through exchanging and saving profits in the form of “cryptocurrencies.”
The goal is to adjust to the increase in the price of basic “crypto assets” that should increase your profits. Obviously, this works the other way around, as it can also lead to a loss of profit due to a lower price for the “cryptographic” tokens you receive. However, if you play the game well, you will be able to significantly increase your winnings with this method.
This guide summarizes various aspects of how it works. To do this, make sure you understand what you are doing and how this process will evolve…
First, if you run an e-commerce store, you have to accept payments.
With many online services today (including Stripe and PayPal), you have many ways to “receive” payments without having to use a traditional “trading account”.
One new way to do this is to use a service called BitGo. This is a system of “payment receipts” for “cryptocurrency” tokens. In fact, it allows companies to accept “cryptocurrencies” for their products or services, allowing users to make full use of bitcoin, Ethereum, etc. without fear of security vulnerabilities (BitGo pays great attention to security implementation).
This means that if you get money through “cryptocurrency” tokens, although their price often corresponds to different “fiat” currencies, they are usually quite unstable. For this reason, often e-commerce store owners simply “exchange” their “cryptocurrency” tokens for 100% fiat currency either at the end of the month or after receiving the order.
The “trick” used by many shopkeepers is to keep their profits in the “crypto-ecosystem.” This means that they pay for everything else, including the cost of their COGS, storage and administrative expenses, while keeping the net profit in their foreign exchange accounts.