Helping Local Businesses Accept Bitcoin

Nov 7, 2021

A user reached out to me with a common story:

“Hi,

“I’m a bitcoin user, and I want to help my local businesses convert to using bitcoin. Anypay is the way to go in my opinion for businesses to quickly and easily accept bitcoin.

“I really don’t want them to convert them to fiat, but I understand that many of their suppliers only accept fiat, and so they have a need to convert it to fiat, at least until we can build a network of bitcoin business-to-business providers.

“I’m requesting from you any resources that you may have to meet these objectives.”

- <Name Redacted>

This is one I get all the time, so I thought it would be useful to share my response to this common question in a blog post.

Here is how I responded:

Hi <Name Redacted>,

It is easier to convince a business owner to accept bitcoin outright than it is to convince him to accept it and convert it to fiat.

That’s because when you talk to them about it, you carry with you the confidence of a person who knows bitcoin is better than fiat.

That’s what they want. Someone confident who tells them, “Look, you want the bitcoins.”

Of course they will throw up objections, “But I have a business to run, I have expenses, it doesn’t work for me if I can’t convert.” 

It’s all baloney. If you have a sales background, you know — customers throw up objections for any salesman to handle. Reasons why they can’t buy right now. 

“I have to talk it over with my wife/business partner”
“What if the price changes”
“How do I handle accounting”

On and on. If you really want them to do it, then it is going to take some work convincing them. But don’t fall for the trap of believing that if you just help them with this one thing, then they’ll do it. Help them figure out converting to fiat? There will always be another objection right behind that one.

What you really have to get to is the heart of their concerns. The real concern *behind* the question. Sometimes it just isn’t a match, and that’s fine. They aren’t interested at all? Move on.

There are other people who will get it, and it’s good to reward them with your business. Scheduling a small regular meetup there is a good way to show your appreciation.

Having 1 business in your town that you can go to that accepts you and your friends’ bitcoin is all it takes. Aim for ONE. If you can get ONE, then we can talk about adding more. But just go out and get that ONE.

Ultimately, it’s really about relationships. It’s not even really about business. It’s about human connection. That’s what they want, so if you are genuine and build a real relationship with these people, they will be happy to trade their goods and services for your bitcoins.

Anybody who has been paying attention to bitcoin for any amount of time knows it’s good. There is no “off in the future” time when they will be more ready than right now. All the tools are there and available, and have been for years. Those who adopted it years ago are way ahead, and all it takes is to say “Yes” today. It will never be easier than right now.

All my best to you and your adventure in using Bitcoin in the wild. It feels really good, man.

At your service,

Derrick Horton

President, Anypay

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