Need help accepting bitcoin as a payment?

Hi guys,

So far, I've only dealt in cash sales (locally through friends/friends of friends/etc). Well, someone suggested I start accepting bitcoin. I have the basic understanding of bitcoin down, but what I don't understand is how to accept. So I have a few questions:

  1. I'm using Armory for my wallet. Do I need to generate a new key for every transaction? I read somewhere that accepting multiple transactions through the same wallet might not be good for the security of that wallet.

  2. There's no way to withdraw funds once a transaction has been submitted, right? As in, I can't get cheated out of a product AND the funds?

  3. How do I go about exchanging the btc for usd? Do I just sell through coinbase/virwox or something? I don't want to have to explain transactions. Since coinbase is linked to a bank account, will coinbase know where those btc transactions came from/what they were for?

I guess I'm asking "how to stay anonymous using bitcoin/exchanging bitcoin to usd without raising suspicion".

Any help/guidance is awesome. Thanks. And sorry for the stupidity - just having some trouble.


Comments


[2 Points] IGetDankShit:

/r/bitcoin would probably be more helpful.


[2 Points] InfinitelyOutThere:

You should generate new addresses for opsec. Transactions are 1 way and irreversible. Transfer through many intermediary exchanges changing between different cryptocurrencies. Sell btc on lbc.


[1 Points] galaxyandspace:

  1. Generate a new address for each transaction.
  2. Armory is good :) just back up your wallet files to a few different places (cloud storage, other hard drives, USB stick)
  3. Cash out: Combination of sell on Coinbase, sell on LocalBitcoin.com , and other ways ;)


[1 Points] None:

Just goto blockchain.info and create you a safe wallet there since you're so new. It's a hellllluva lot more convenient for a first timer.