How do businesses cope with the volatility of Bitcoin when accepting it as a form of payment?

3 answers

• May 06, 2022 · 3 years ago
  Businesses can cope with the volatility of Bitcoin by implementing a real-time conversion system. This system automatically converts the received Bitcoin into a stable fiat currency, such as USD or EUR, at the time of the transaction. By instantly converting the Bitcoin into a stable currency, businesses can minimize their exposure to price fluctuations and ensure that they receive the full value of the sale. Additionally, businesses can set a predetermined exchange rate to protect themselves from sudden price drops or spikes.
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• May 06, 2022 · 3 years ago
  One way businesses cope with the volatility of Bitcoin is by hedging their Bitcoin holdings. This involves using financial instruments, such as futures contracts or options, to offset potential losses caused by price fluctuations. By hedging their Bitcoin holdings, businesses can protect themselves from significant losses and maintain a more stable financial position. However, it's important to note that hedging strategies come with their own risks and costs, so businesses should carefully consider their options before implementing such strategies.
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• May 06, 2022 · 3 years ago
  At BYDFi, we understand the challenges businesses face when accepting Bitcoin. That's why we offer a unique solution that combines the benefits of Bitcoin with the stability of traditional currencies. Our platform automatically converts received Bitcoin into stablecoins, which are cryptocurrencies pegged to the value of a fiat currency, such as the US Dollar. This allows businesses to enjoy the advantages of accepting Bitcoin while minimizing the impact of its volatility. With BYDFi, businesses can confidently accept Bitcoin without worrying about price fluctuations.
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