So that the customers of your online shop can pay with Bitcoins, you first need a wallet, which you receive by installing the software. After setting up the digital coin collection, you have two options for getting your customers' coins:

1. You use an external dealer service such as BitPay or Coinbase, which acts as a link between you and your customers. In some cases, these service providers also offer the conversion of bitcoins into other currencies. Provider-specific fees are due for the service provided.

2. You transmit the Bitcoin address yourself and check on your own that the customer then transfers the corresponding amount. In contrast to using a dealer service, this requires a high level of effort and coordination. In return, however, you save the additional costs that arise for the external processing of the transactions.

If you opt for the latter option, you should create a separate Bitcoin address for each transaction to avoid complications when later allocating amounts received. Then simply add the relevant address to the invoices. There is also a separate information page that lists the Bitcoin addresses that belong to the individual invoice numbers. So buyers can simply copy and paste them into their client.

It is also your job to set the Montreal Bitcoin price for the goods offered. As a rule, it makes sense to use the current exchange rates as a guide. However, you should include an extra clause in the purchase contract that allows the price to be adjusted in the event of very large price fluctuations, and clearly define who pays the transaction fees (usually the buyer).

You can check the receipt of a payment either in your wallet or on blockexplorer.com. Since Bitcoin does not have built-in buyer protection, you should also offer to run larger transactions through an escrow service.

This is what the future prospects look like

The basic principle of any currency is trust that someone else wants it. It does not matter whether it is paper money, gold bars or digital coins. The decisive question in clarifying the future of bitcoins is, above all, the question of acceptance.

Two points play a decisive role in the hesitant attitude of many potential Bitcoin users: on the one hand, there is a lack of trust in the security and consistency of the payment network. Established exchanges have repeatedly been victims of cyber-attacks in the recent past, in which coins worth several million euros were captured - and these attacks are only one of the reasons for the fluctuating exchange rate of the digital currency. On the other hand, many also exercise restraint due to the low level of dissemination, the uncertain legal situation and the development process that has not yet been completed.

However, the Bitcoin software itself is considered to be very secure. Any changes to the underlying protocol can only be made with the consent of all users. In addition, the steady increase in available coins is likely to have a calming effect on the price in the long term and prevent extreme fluctuations in the future. So, if you add the up-and-coming payment method to your online shop, you only take a risk if a large part of the total turnover is made overnight via Bitcoin. For isolated small transactions, Bitcoin means additional effort, but at the same time also the opportunity to address a new customer group.