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>>Merchants in Block’s Square could soon have the ability to accept Bitcoin and automatically convert a portion of their sales, up to 50%, into Bitcoin.

Merchants in Block’s Square could soon have the ability to accept Bitcoin and automatically convert a portion of their sales, up to 50%, into Bitcoin.

crypthub

about 16 hours ago

Introducing Square Bitcoin

Block's Square Bitcoin is a new payments feature and crypto wallet for Square merchants. It allows businesses to accept Bitcoin and automatically convert a portion of sales into BTC with zero conversion fees. This integration aims to simplify Bitcoin adoption for Main Street businesses and provide tools previously unavailable to small merchants.

Key Features & Functionality

Merchants can opt-in to convert up to 50% of daily sales into Bitcoin, beginning November 10th. This conversion occurs at settlement, streamlining revenue flow and eliminating conversion fees. A built-in wallet allows direct management of Bitcoin holdings, removing the need for external crypto wallets.

Benefits for Businesses

Square Bitcoin simplifies Bitcoin integration into daily commerce, offering practical tools for adoption. The zero-fee conversion and integrated wallet reduce barriers for businesses exploring cryptocurrency payments. Block's initiative underscores a broader strategy involving Bitcoin mining hardware and custody solutions, reflecting a comprehensive approach to Bitcoin adoption.