Key Takeaways
- Square sellers can convert daily sales to Bitcoin using Cash App.
- Sellers can allocate between 1-10% of daily sales for Bitcoin purchase.
- The service is subject to a flat 1% fee, excluding NY state sellers.
Block, a leading technology firm, has rolled out a new feature called Bitcoin Conversions.
This service allows Square sellers to automatically convert a portion of their daily sales into Bitcoin using Cash App.
Daily sales to Bitcoin
Eligible U.S. Square sellers can now allocate 1-10% of their sales to be transferred daily to their Cash App account.
The funds are then used to purchase Bitcoin, offering sellers control over their BTC assets, including holding and managing them as desired.
Fee structure and eligibility
A flat 1% fee is applied to each conversion from sales to Bitcoin.
Currently, the service is open to sole proprietors or single-member LLCs in the U.S., excluding those based in New York State.
A broader rollout is expected in the upcoming months.
