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What the Heck Is a Bitcoin Anyway?

And how can my business accept payments with the digital currency?

learn more about Mikal E. Belicove

By Mikal E. Belicove •

Illustration © John Weber

Opinions expressed by Entrepreneur contributors are their own.

Q: My customers are asking to pay with Bitcoin. How does it work?

A: It's easy. On the surface, Bitcoin--a peer-to-peer payment system and digital currency not tied to any government--appears to be a financial breath of fresh air for small businesses. There are no annoying credit card fees, bank transfers or delays in receiving payments.

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