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How to accept Bitcoins in my store

You have decided that Bitcoins are the perfect payment option for your business. I, too, would be wondering how to accept Bitcoins in my store. As usual, Cryptonews.com is there to help!

Step 1a: Creating Your Bitcoin Address

First, you need a place to receive your Bitcoins. Right after you create your wallet, most of them will let you generate an address that you can show on your website or store, and tell people to send their coins to that one.

Step 1b: Using a Payment Processor

Perhaps the easiest way is to use a payment processor with existing point-of-sale integration. You don’t need to know anything about Bitcoin or technology to use this option. Companies offering such services can even deposit the money in your bank account in your preferred currency once a payment has been made. Keep in mind that they do charge fees.

Step 2: Advertise Bitcoin Acceptance

People can’t pay you in Bitcoin if they don’t know you will take it. There are websites, such as coinmap.org (only for physical stores) or spendbitcoins.com that will list your business. You can also add a Bitcoin logo to your website, preferably one that says “Bitcoin accepted here.”

Step 3: Bitcoin Bookkeeping and Taxes

Before starting to accept Bitcoin, consult with a local accountant about tax compliance - Bitcoin adoption for businesses can be a bureaucratic nightmare depending on where you live. There are also some, although very rare, services that offer to do your taxes for you if you’re based in the US, for example.

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