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More powerful bitcoin conversion options for merchants

Tuesday 20th, May 2014 / 09:55
More powerful bitcoin conversion options for merchants

At Coinbase we’re always thinking of different ways to help merchants run their businesses more efficiently. Our merchant tools already allow you to instantly exchange incoming orders into fiat currencies to avoid any risk related to bitcoin price volatility. However, as the bitcoin ecosystem is maturing, every day we’re seeing more and more merchants starting to accept bitcoin. It is starting to make more sense to keep some part (or all) of your orders in bitcoin and use it to pay your vendors or other merchants, to completely avoid any exchange/banking fees. Today we are launching a new feature to help you do just that: you can now keep a percentage of all your orders in bitcoin and get instant payout in fiat currencies for the rest. To enable this feature, you can go to your merchant settings dashboard and  check “Maintain a minimum balance in BTC when exchanging” under payouts. 

Once you enable this setting, we will start depositing a percentage of your orders in bitcoin to your Coinbase account and paying out the rest to your bank account as before. 

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