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Latest Trending Bitcoin eCommerce Trick

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Shivangi Mujumdar Follow

INDIA

Jan, 29 2021

Jan, 29 2021

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While the payment you receive is going to be 100% "crypto," you can exchange the cost of products sold (COGS) out via an exchange. The aim is to ride any price increases within the underlying "crypto" assets, which should amplify your profits. This works the opposite way - therein, it could also cause a loss of profits thanks to a drop in the worth of the "crypto" tokens you were paid. However, generally, if you play the sport properly, you should be ready to increase your profits with this method substantially. It goes to explain the varied points about the way this works briefly. To try to do so means you've got to make sure that you understand fully what you're doing and how the method will grow. 

 

Firstly, if you run an "eCommerce" store, you'll get to accept payments. You've got some ways to "receive" payments without the necessity for a standard "merchant account." One of the newer ways to try to do this is often with a service called BitGo. This is often a "payment receipts" system for "crypto" tokens. For this reason, it's often the case that a lot of eCommerce store owners will "exchange" their "crypto" tokens for 100% fiat currency either at the top of the month or after an order is received. 

 

The "trick" employed by an outsized number of store owners keeps their profits within the "crypto" ecosystem truly. This suggests they buy everything else, including their COGS, warehousing, and administrative costs - while retaining the pure profit in their exchange accounts. By doing this, they need nothing to lose (and everything to gain) by letting their holdings ride the worth waves of BTC and, therefore, the other "crypto" tokens - multiplying their holdings faster than any bank account could ever do. 


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Shivangi Mujumdar

CBW - External Analyst

INDIA

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