Articles Product Updates

Automatic Bitcoin Conversion2 min read

September 15, 2019 2 min read


Automatic Bitcoin Conversion2 min read

Reading Time: 2 minutes

Adding bitcoin as an accepted payment method to your business is a great way to drive new customers to your business and save money on payment processing fees. These compelling reasons to accept bitcoin sound great, but maybe you’re worried about Bitcoin’s price volatility or how you’d exchange to cash after you receive bitcoin. Worry not. We’ve created a solution that allows you to accept bitcoin, settle instantly, and avoid all price volatility; we call it automatic Conversion.

Automatic conversions allow OpenNode users to accept bitcoin and instantly exchange that bitcoin to their desired currency* at the time of transaction. We aim to diminish the fear of Bitcoin’s price volatility within the merchant community by providing a platform to effortlessly accept bitcoin with little risk.

How to accept Bitcoin with Automatic conversions:

  1. Create an OpenNode account here and click “Enable Bank Transfer” on the dashboard.
  2. Fill the bank transfer form with your banking information and submit for approval.
  3. Once approved, click “Settings” from the dashboard, select “Payments” in your settings, and click the slider for “Enable Automatic Conversion” and you are good to go! 

Automatic Conversions is our solution for businesses to enjoy the benefits of accepting Bitcoin without the worry of price volatility or finding a trustworthy cryptocurrency exchange. Until Bitcoin becomes the standard medium of exchange around the world we expect this feature to be worth incredible value to any business that wishes to adopt Bitcoin payments.

Our automatic conversion feature can convert Bitcoin into multiple traditional currencies including USD, EUR, MXN, GBP, BRL, AUD, CNY, and HKD. If we don’t support your currency of choice, send us an email at support@opennode.com or a DM on twitter to @opennodeco and we’re happy to add your native currency in the near future!

Stay tuned for more updates!