A PROPER ORIENTATION OF CRYPTOCURRENCY AS A MEANS OF EXCHANGE IN BUSINESS| BY @BLISSUJU - 10% PAYOUT TO THE COMMUNITY ACCOUNT

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I greet you all with a warm spirit and in joy. welcome to yet another weekend here in Nigeria, and I believe we all are having a wonderful time where ever we are. I am here again this afternoon to share more light on a basic topic which I have found interesting and as such I feel it is better to share with everyone in this community, it is a good idea that we share vital information, discussion and lot more which is of benefit to every user in this lovely community and that is why I have taken this attitude upon me to always share interesting and important teachings with everyone here.

Today I am going to be talking about a vital topic that has been in my heart since morning and I have called it, a proper orientation of cryptocurrency as a means of exchange in business. why not join me as I begin.

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A PROPER ORIENTATION OF ACCEPTING CRYPTOCURRENCY AS A MEANS OF EXCHANGE BY BUSINESS OWNERS

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Cryptocurrency has in no doubt shown a remarkable sign of profiting individuals, that is why we get to see many people trooping into the business in other to make money. gone are those days where the people that are seen running crypto currency business are the investors and developers, but today many others have actually joined the moving train thereby coming to invest in the crypto currency business in other to gain a lot of money from it and that is what we call return on investment.

it was seen during the early stage of cryptocurrency, it was only people who believed in it and was willing to take risk , those are the people who invested in the crypto currency business and because of their strong believe for the cryptocurrency, they have emerge gloriously and are now called whales in the crypto business.

Since then, people began to accept this digital currency for just a purpose which is to make profit. now other people who do not understand how to invest on the crypto business have decided to make it as a mode of payment for their goods and service. okay, let me break this down for more emphasis, a woman I know very well, due to her exposure to information and current trend, she is now accepting cryptocurrency as a means of exchange for her goods and services in her business. before she accept to transact with you, she will first of all ask after the currency you are willing to send and then she launches her wallet to know the price of the asset you want to send in exchange for her goods.

After seeing the price of the asset in the market, she will then calculate the money of her goods in fiat currency and then compare it with the crypto currency the customer wish to transfer to her and after everything is done, she gets the digital currency from the customer and then the customer takes what he or she has paid for in crypto currency.

The reason behind her accepting the cryptocurrency as a means of exchange is because she believes she will make profit when it rises. yes that is a good one, for we all that when the currency rises, she will be in profit but one things she never considered is that there are be a solid bear market which is likely to bring her down.

People often think about making profits and gains in the crypto currency business and investment but they never had the time to think about the losses and that is what is bringing business individuals down as we speak, they have rely solely on the profit making ideology, neglecting the fact that eventualities may occur which will cause a fall in crypto price and hence make one lose money.

In as much as there are possibilities of making profits, there are still possibilities of losing. If you must accept cryptocurrency as a means of exchange then you have to know that, it is either you make profit or make loss among the both one is definitely certain.

WHAT HAPPENS TO BUSINESS INDIVIDUALS WHO ACCEPT CRYPTOCURRENCY WHEN THERE IS A BEAR MARKET?

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Now this is it, accepting cryptocurrency as means of exchange in business is very great and profitable only when there are rise in cryptocurrency price. a business owner can choose to sell his goods at 10 steem and within a few minutes he will be making profit depending on how well the currency rose after the exchange was made, but when there is a bear market then I am afraid, one can only make losses.

Imagine a trader made an exchange of some of his items worth a 100 steem and few minutes later he discovers that there had been a bear market resulting to losses and finding out that the 100 steem worth of goods is now reflecting 80 steem in his wallet. you can imagine how bad that trader will feel from losing 20 steem in minutes.

The bear market is indeed a reason for people who accept cryptocurrencies as a mode of payment to panic in the bear market because a trader will not be losing daily and you still expect him or her to accept the cryptocurrency.

So, the bear market is an issue to be considered, yes people prefer buying currencies at low prices but what will happens to a trader who sells his goods at a particular amount and then realize that he has lose money after a few minute.

All these can be avoided with a proper orientation, accepting cryptocurrency as a means of exchange in business is very lucrative and it is a wise investment but we have to be careful when making such transaction.

Do not accept a currency that is still coming up because this is business we are talking about and you should make research on the crypto currency you want to accept so that you can be on a safer side that even if the digital currency goes down in price, you will have confidence that there will be a rise in price in no time.

Do not accept all digital currencies, make sure you have a particular currency which you know is here to stay so that you do nit get to lose much money even if the bear market comes and know that after rain comes sunshine and lastly do not allow yourself to be deceived by customers who already figured out that you just accept any currency so that you do not get scammed and afterwards losing all you have labored for.

Thank you all once more, we meet again soon.