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I run a small business online. I am interested in using Bitcoin to accept monies from my customers but to be honest the whole thing has me a bit confused. I am in the UK how would I be able to exchange my Bitcoins for £ sterling and then subsequently spend it?
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Trade them for USD, GBP or EUR on a trading site such as https://mtgox.com and transfer it to your bank account.
Or you can spend them directly at any other business that accepts bitcoins as payment.
5
If you use a payment processor such as BitPay or WalletBit, they will take care of the conversion to fiat for you (for a fee, of course).
You could also use e-commerce software and manage the exchange to fiat yourself. That's what CoinDL, for instance, does using a Bitcoin module for OpenCart e-commerce software.
There might also be a number of goods and services you would use where bitcoins are accepted for payment.
