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Accepting Bitcoin for Your Business: A Step-by-Step Strategy
I see you’re looking for a smooth way to start accepting Bitcoin while wondering how to navigate the right chapters (legal, accounting, and cashflow challenges). Here’s a structured approach to help:
Phase 1: Quick Start (Weeks 1-4)
✅ Easiest Option: Start with OpenNode (if custodial & KYC are fine) or Breez/Voltage for Lightning autonomy.
✅ Keep Proper Records: Log TXIDs, USD conversion rates, and customer details (if needed).
✅ Conversion Strategy: Convert BTC only when necessary—keep a portion to benefit from appreciation.
Phase 2: Transition to Self-Sovereignty (Months 2-4)
🔹 Start using BTCPay Server (hosted via Luna Node or BTC Pay Jungle).
🔹 Test it with a fraction of payments before going all-in.
🔹 Use BTCPay’s accounting exports for bookkeeping.
Phase 3: Full Bitcoin Integration (Months 4-6)
⚡ Fully transition to BTCPay Server for 0% fees and total control.
⚡ Implement Lightning payments to reduce costs & speed up transactions.
⚡ Train staff & educate customers—offering small BTC discounts can help adoption.
Legal & Accounting Resources
💼 Bitcoin Accounting Tools: and companies: TaxBit, koinly, tokentax, coinledger, bitcoin.tax
🏦 BTC-to-USD Conversion: Use Bitcoin-friendly banks like Swan, River, Strike for smooth exchanges. There are many OTC desks that allow that to happen, just do your own deligence first, and compare fees.
Final Pro Tip
💡 Instead of auto-selling #bitcoin, convert only when needed—over time, you might find holding some #BTC benefits your business!
Would you like more tailored advice for your specific business model? I’d be happy to help. #neowealth
