Cash to Bitcoin Conversions2 min read
OpenNode believes in the promise of Bitcoin as a currency that enables access, freedom, privacy, and sovereignty. Our mission is to empower people and connect the world through payment technology fit for the digital economy.
We’re pleased to announce our latest product update: Local Currency to Bitcoin conversions right from the OpenNode dashboard.
With this enhancement, OpenNode offers businesses both (1) the ability to hold account funds in Local Currency to avoid exposure to the price volatility of Bitcoin *and* (2) the possibility of avoiding high bank transfer fees when moving funds out of your OpenNode merchant account.
How does it work?
OpenNode provides conversion functionality right from our intuitive platform interface, leveraging partnerships with multiple exchange partners.
Even if you have enabled Automatic Conversion to receive Local Currency in order to avoid Bitcoin price volatility, you can still avoid high bank transfer fees by converting back to Bitcoin before initiating a BTC transfer from your OpenNode merchant account.
OpenNode currently supports conversion of USD, EUR, MXN, GBP, BRL, AUD, HKD, and CNY to/from Bitcoin. Additional currencies can be provided upon request. For more information on how to use this feature, check out our help center article.
Local Currency to Bitcoin Conversions was yet another product update that was suggested by many of the merchants currently using our platform. At OpenNode we believe that the success of our product is driven by user feedback and suggestions to improve our product. We want to make the best Bitcoin payment processor for you and your business. If you have suggestions or comments about our product offerings, please reach out.