Who can help me build a website for the Bitcoin exchange?
Robert Visit for- Bitcoin exchange
Businesses around the world are finding that a Bitcoin strategy pays to develop and employ - we just have to see the growth of Overstock and Tiger Direct.
First of all, Bitcoin is easy to use; offers fast transactions with lower fees than credit cards, as well as other benefits. The simple act of announcing "Bitcoin accepted" attracts the attention of the media and it brings publicity. Bitcoin users will also strive to support a business that accepts Bitcoin.
But how can a family restaurant or small online retailer start processing Bitcoin payments and get a good seat in this wagon?
Step 1a: Create a Bitcoin address
First, we will need a Bitcoin wallet. This is the address where customers will send our money, and that process works a lot like email: they enter our address (or, more likely, scan our QR code with their smartphones), enter the desired amount, and hit "Send" .
As with a cash register, we will probably have to take the money out at the end of the work day and put it in a safe place. In general, it is good practice to keep only small amounts of bitcoins on your computer, mobile or server for everyday use. It is more advisable that we store most of the funds in more secure spaces such as a hardware wallet that is kept most of the time disconnected from the internet.
On the Internet, we can easily find tutorials on how exactly to set up a Bitcoin wallet. We must always stick to the best practices to secure that wallet at all times.
It may interest you: Bitcoin wallets: Everything you need to know
Step 1b: Using a payment processor
In the event that our sales process is a bit complicated for direct Bitcoin payments in a wallet, or in the case that we handle many transactions during the hours that the premises are open, we may consider using a payment processor.
Bit-pay and Coin-base are two of the most well-known examples among payment processors. In Latin America we have Crypto buyer PAY, a point of sale developed by Crypto buyer that allows customers to pay with cryptocurrencies and store owners receive the transaction in their local currency.
Payment processors charge a percentage or monthly fee for their services, but their prices are still much cheaper than those charged by credit card companies or PayPal.
In addition, payment processors offer some applications of their technology: you can send invoices by email, configure a Point of Sale (useful if you have a restaurant or cafe, for example) or add a shopping cart plugin to our online store.
Finally, if we do not want to keep the Bitcoin because we have to pay suppliers and employees with FIAT currency or because it is more convenient for us to save with traditional currencies, these payment processors offer the possibility to convert the received cryptocurrencies into FIAT currency instantly.
Step 2: Announce acceptance of Bitcoin
It helps a lot that we indicate to our clients that we are accepting Bitcoin. If you have an online storefront, we can use this "We Accept Bitcoin Here" button and visibly put it on the website, ideally next to wherever the option to pay with PayPal, MasterCard, Visa and any other button we already have is located.
In the event that we have a physical establishment, we can use similar stickers on the door or on the cash register.
Step 3: Accounting and Tax
It is best if we contact an accountant to determine how to keep records of Bitcoin or Lite coin or Dash or any transaction with an alt coin within our business. Some accounting firms are beginning to emerge with specializations in Bitcoin and other cryptocurrencies. Bitcountant is one of those examples.
Tax Ninja in San Francisco is another firm that can handle Bitcoin related tax matters. For US Bitcoin companies, complying with tax obligations under Internal Revenue Service (IRS) guidelines is pretty straightforward, Matthew Whitley, founder of Tax Ninja, told Business-week some time ago.
However, the new vision that the IRS gave for cryptocurrencies in 2019 has generated some changes in the trading process. According to the agency, cryptocurrencies should be considered property and therefore the owners of them must notify the cost of the currency at the time of purchase, the value it had when they negotiated it