Are you planning to sell products online for bitcoin? As a matter of fact, selling online for bitcoin is as simple as selling any other item for cash, PayPal, etc. All you need to do is to post an advertisement on any of the web portals describing the products you intend to sell, asking your potential buyers to contact you and place their bids. You can visit BitProfit (official site) for more details on this subject. If the stuff that you are trying to sell could be downloaded or they are small enough, there is no need for you to reveal your identity, or personally get in touch with the buyer. On the other hand, if your product is relatively larger in terms of size, in that case, you need to schedule an appointment with the buyer in order to finalize the deal.

Who needs to make the first move?

Should the seller initiate the shipment of the items first or does the buyer make the payment using bitcoin? If you’re a seller, in that case, you have the option of setting your terms for the sale. You can always go ahead and set a condition where the buyers need to send you the bitcoins first. However, if you are a new business, in that case, this is not a recommended option. Unless you have an established business, and you have made a name for yourself in terms of authenticity and reliability, this can trigger a sense of apprehension among the buyers. Another important point is to be noted over here; the Bitcoin transactions are irreversible; not a single transaction can be altered at any point of time due to any carelessness. So, as far as consumer protection is concerned, there isn’t any available. This is one of the major reasons why buyers do not agree to send the bitcoins first unless they have received the delivery of the product.

Build your reputation

If you’re planning to sell goods for bitcoin online, in that case, the most important thing which you need to ensure is to build your reputation. Using an online advertisement mechanism can prove to be very useful in this regard. As mentioned, initially, it is always advisable to allow a certain degree of flexibility to the buyers; shipping the items first and then asking them to send a bitcoin. If you are willing to ship the items first, in that case, as a buyer, you also need to safeguard your interests. You need to ensure that you have the right kind of agreements or contracts with the buyer, after checking their authenticity. There have been quite a few reported incidents where the seller didn’t receive the comments after shipping the goods to the buyer.

A simple process like normal selling.

If you remove bitcoin as the medium for payment, in that case, the process of selling online is as simple as a normal business is carried out over the Internet. However, the fact that you will be receiving your payment through bitcoin, which is not a regular currency, your number of buyers might reduce. However, if you keep bitcoin as an alternative to regular currencies, in that case, it is going to increase your number of buyers. On the whole, selling goods for bitcoin online is not as complicated as it sounds. All you need to do is to ensure that you have the right mechanism in place and that you are dealing with authentic buyers. If you’re planning to sell goods online for bitcoin, in that case, as mentioned, it is important that you have an established business, where buyers can trust you in making an early payment. Paying through bitcoin has become very popular these days, according to the experts, over a period of time, this trend is going to get even more popular.

Conclusion

So, if you’re already running an online business, in that case, this is the right time to introduce this mechanism into your system. You need to ascertain the value of the bitcoin you’re charging against the normal currency. These mentioned-above points will, no doubt, help you make your first move in creating your own startup with Bitcoins as a preferred method.