What’s the biggest barrier stopping you (or your business) from accepting crypto?

1) Why the question matters right now

If you’re a business owner, payments are a numbers game: speed, cost, reliability, and customer experience. Crypto payments promise lower friction for some customers, new revenue streams, and international reach — but only if the process doesn’t introduce new headaches. This article answers: what exactly stops businesses, which objections are real vs fixable, and how to move from “maybe someday” to “accepting crypto confidently this quarter.”

2) The top barriers businesses report 

1. Price volatility

Arguably the biggest practical blocker: merchants worry the value of a crypto payment can swing between invoice and conversion. That makes pricing, margins, and accounting unpredictable. Multiple industry guides note volatility as a core merchant concern — and also point to payments tools that mitigate it. 

2. Regulatory & tax uncertainty

Businesses worry about tax treatment (GST, income vs capital gains, reporting) and local rules. For Australian businesses (and firms trading with AU/NZ customers), the ATO has explicit guidance on crypto used in business — but knowing how to apply it is still a frequent pain point. 

3. Integration complexity and operational overhead

Adding a new payment rail can mean development time, POS changes, reconciliations, and staff training. If it’s not plug-and-play, many small businesses simply won’t bother.

4. Banking & liquidity frictions

Some banks and payment gateways still treat crypto-linked accounts cautiously. Also — businesses need reliable ways to convert crypto to AUD/NZD quickly when required.

5. Security & fraud concerns

Private key management and safe custody are real responsibilities. Merchants without a trusted partner fear being responsible for holding onchain assets.

6. Low current demand (perceived)

If your customers aren’t asking for crypto, investing time feels wasteful. But demand is growing in specific segments (international customers, digital services, tech-forward shoppers).

3) Practical fixes — how merchants remove each barrier

Volatility → immediate fiat settlement or stablecoin flows

Pick payment processors that auto-convert the received crypto into fiat (AUD/NZD) or a stablecoin at checkout so the merchant receives a predictable amount. Many merchant tools now offer volatility-free settlement options, which removes the primary practical objection. 

Regulatory & tax → documented processes + local advice

Follow ATO guidance for crypto used in business and keep simple records: date/time, USD/AUD equivalent, purpose, and counterparty details. Work with your accountant to map receipts into your bookkeeping system — this reduces audit risk and removes much of the “unknown.” 

Integration complexity → use a plug-and-play payments partner

Choose gateways that offer plugins for popular ecommerce platforms and POS systems, API docs, and easy reconciliation reports. Many processors provide webhooks and exportable daily settlement reports so your finance team isn’t doing manual work. Payment-first vendors list easy merchant integrations as a core benefit.

Banking & liquidity → pair with trusted exchanges and instant settlement rails

If you plan to keep crypto, pick an AUD/NZD-friendly exchange or payout partner. If you don’t want crypto risk, enable instant sell/settlement (processor converts at point of sale and pays out in your local currency). For Australian merchants, local exchanges and AUSTRAC-registered providers are a good fit.

Security → custody and role separation

Use a payments partner that handles custody or uses reputable custodians. Keep merchant operations limited to reconciliations — don’t have staff control private keys unless you have a strong security program.

Low demand → pilot & measure

Run a 30-day pilot with clear KPIs (number of crypto transactions, average ticket size, customer feedback). If demand is low, keep the option visible without heavy investment.

4) Choosing partners: payments, exchanges and converters

What to look for in a crypto payments partner

• Instant fiat settlement (option to receive AUD/NZD).
  
  
  

• Clear merchant reporting and bookkeeping exports.
  
  
  

• Strong custody arrangements if you choose to hold crypto.
  
  
  

• Local regulatory awareness (AU/NZ) and KYC support.
  
  
  

Where to get liquidity (exchanges)
If you’re operating in Australia or servicing Australian customers, check current local comparisons — reputable reviews consistently list Swyftx, CoinSpot, Independent Reserve and others among the top local choices. Choose an AUSTRAC-registered provider with AUD pairs and solid customer support.

Payment processors worth checking
Look at providers who support merchant plugins, webhooks, auto-conversion and fiat payouts. Market guides list BitPay, Coinbase Commerce, and others as mature choices for merchants; evaluate fees, settlement frequency, and integration requirements. 

5) Action plan — a simple 30-day rollout checklist

Week 1 — Strategy & compliance

• Decide: accept crypto as a marketing option, a payment method, or both.
  
  
  

• Confirm tax/accounting process with your accountant (document the ATO guidance).
  
  
  

Week 2 — Partner selection & setup

• Choose a payments provider offering instant fiat settlement.
  
  
  

• If you need custody, select a regulated exchange or custodian (local AU/NZ options if relevant).
  
  
  

Week 3 — Integration & testing

• Install plugin or integrate API, configure settlement currency (AUD/NZD), test 3-5 transactions.
  
  
  

• Train staff on refunds, receipts and support scripts.
  
  
  

Week 4 — Go live & measure

• Launch quietly (email list, signage), measure transactions, ticket size, and customer feedback.
  
  
  

• Decide whether to expand marketing for crypto acceptance or keep as an optional payment method.

Helpful enhancements

• Quick checklist PDF: acceptance policy, settlement currency, fees, dispute flow.
  
  
  

• Sample invoice line: “Paid with Bitcoin (settled to AUD via PayItNow, receipt attached).”
  
  
  

• Staff script: “Yes — we accept crypto. You’ll scan the QR, confirm the amount, and we’ll receive AUD instantly.”
  
  

Author & review box

Author: PayItNow — Payments Team (10 years combined payments industry experience)
Reviewed by: PayItNow Compliance Team — reviewed on 2025-10-11.
Company: PayItNow, Unit 3/38b Birmingham Drive, Middleton, Christchurch 8024, New Zealand. Phone +64 3 925 8870 — Email: [email protected] / [email protected] — Website: payitnow.io

FAQ

Q — Will accepting crypto expose my business to massive tax headaches?
A — Not if you document every transaction, choose a simple settlement option (receive fiat/AUD immediately), and work with your accountant. ATO guidance is explicit about crypto and business reporting. 

Q — Is there real demand?
A — In many segments (international customers, tech buyers, freelancers), yes — but always run a small pilot and measure uptake.

Q — Which exchange should I use in Australia?
A — Local reviews consistently highlight Swyftx, CoinSpot and Independent Reserve among strong choices — weigh ease of AUD pairs, fees, and customer support.