How Business Owners are Concerned With High Volatility Of Cryptocurrency.
With blockchain technology inception, we had the likes of lighting network on the bitcoin network for processing fast transactions, high scalability, immutability, and overall increased transparency between customers and business users for early business users who integrated crypto pay option in their businesses, not only does crypto pay option increase customers to sellers trust it has boosted businesses by creating a single universal paying system (BTC) across different countries, purchasing goods with crypto in any country can be done seamlessly without the hassle of local currency conversion which is super awesome eliminating need for intermediate parties and over the counter local fiat exchange.
Crypto adoptions in business are indispensable as their use case will boost businesses, the question is how long will it take for users to understand the enormous use case of blockchain in our day-to-day activities.
With bitcoin price always fluctuating like an unbalance spinning wheel can it encourage business users to integrate it as a paying option in their various businesses due to its volatile nature?
Let's say I have an online shop where customers can easily make purchases using BTC, and my accessories have different price tags, during the crypto market boom the price of iphone13 was $500 with BTC at $69k if a customer is willing to purchase such iPhone an equivalent amount of $500 in BTC will be paid by the buyer, what if BTC dip down to $20k the users will also have to pay equipment amount of $500 in BTC the only difference would be a change in zeros which is one BTC is always one BTC at the current price, noting how the $500 price of iPhone13 never changes and also the equivalent amount in btc did not change as well shows despite high market volatility business users can still make a transaction.
The only problem here is if a customer makes a payment of $500 and btc price dip further at the end of the day, the business owner will be on the losing end which makes it bad for business as well, preferably a USDT conversion will be a good option which has limited the use case of BTC, am running a business which means the idea of holding long term on BTC to recover its price can be bad for my business growth.
This is quite a bit complex topic I would love to know what are your thoughts on price volatility in business is it healthy for business growth?