How to accept bitcoin as payment?

As a business owner exploring the realm of cryptocurrency, I'm curious about how to effectively accept Bitcoin as a payment method. Could you elaborate on the steps involved in setting up a Bitcoin payment system? I'm particularly interested in knowing what types of wallet services I should consider, any legal implications or considerations I might need to address, and whether there are any recommended software solutions that would help streamline the process. Additionally, I'd like to understand the security measures I should take to protect myself and my customers' transactions from potential risks. Thank you for your insights and expertise in this area.