Block lets Square merchants convert a part of their daily sales to bitcoin [TechCrunch]
Coinbase Global, Inc. - Class A (COIN)
US:NASDAQ Investor Relations:
convertedorganic.com
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Source: TechCrunch
The feature, rolling out in the U.S. starting today, will transfer 1-10% of Square sellers' daily sales to their personal Cash App account. This amount will convert into bitcoin at the end of the day. Merchants will receive a confirmation of the conversion when the transaction is complete. Block said that the bitcoin conversion feature will be available to all sellers, sole proprietors, or single-member LLCs in the coming months. The company takes a 1% cut from every conversion made by the seller. Merchants can send bitcoin to other wallets or sell them at any time from their Cash App account. “Block believes that bitcoin is an instrument of economic empowerment and provides a way for people around the world, including business owners, to participate in a global monetary system,” the company said in a statement. “According to direct feedback from Square sellers, many are interested in bitcoin and believe it presents a wide range of use cases, such as long-term savings and diver
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COIN
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