Bitcoin’s surge: Should Etsy crafters start pricing in crypto to ride the wave?

[natalyermilov]

Bitcoin's recent surge has got me thinking, with more people holding crypto than ever, is it time for Etsy sellers to start pricing their goods in Bitcoin or other cryptos to tap into this growing market? It could be a great way to attract new customers and get ahead of the curve, but I'm curious to hear from others about the potential risks and benefits. Has anyone on here already started accepting crypto for their handmade goods?

 

[Evgeniy-M]

idk about pricing in crypto, but using a reserve fund in stablecoins could offer some stability, it's still gonna be a pretty big risk considering market volatility

 

[alenin]

I think it's a bit premature to jump into pricing in crypto when the market can be so volatile, but at the same time, it's not like it's going to hurt to offer an option for crypto payments for sellers who are looking to cater to a specific clientele. You could even use it as a marketing tool and see if it increases sales or attracts new customers, it's worth a shot. It's not a replacement for traditional payments but a supplement.

 

[OctaRunner]

I think it's a bit early to start pricing in crypto just yet, since the market can be super volatile and might not be as stable in the short term. But hey, if you guys are feeling adventurous and have a solid grasp on crypto, go for it, might be a good way to get some extra exposure.

 

[Sveatosha]

I think it's way too early to start pricing in crypto, I mean, we've seen these price swings before and sellers don't want their business dried up when the market tanks. Plus, a lot of Etsy customers still aren't familiar with crypto or don't have a way to pay with it, you'll limit your customer base if you go that route.

 

[shtora1998]

Nah, the volatility would wreck your margins on handmade goods unless you auto-convert instantly. You don't want to be bagholding BTC just to sell a $20 candle.

 

[Hit]

Honestly, the volatility is a nightmare for pricing small stuff, so you might get wrecked if BTC dips. You're better off using a processor that auto-converts to fiat unless you're trying to HODL your earnings.

 

[HELLAS2008]

Nah, that’s a recipe for getting rekt with this volatility—you don't want your margins crashing overnight. Just stick to fiat pricing and maybe use a payment processor if you really want to accept crypto.