What the Heck Is a Bitcoin Anyway? And how can my business accept payments with the digital currency?
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.
Anyone can send Bitcoins from a mobile phone, desktop computer or SMS to anyone else within seconds, for free. No government authority can seize those funds, and no bank can prevent them from being sent.
The rest of this article is locked.
Join Entrepreneur+ today for access.
Already have an account? Sign In