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Accepting bitcoin

Faster payments, lower fees,
new customers

Chapter 1 | Chapter 2 | Chapter 3 | Chapter 4 | Bitcoin as everyday money

Accepting bitcoin

For many businesses, the decision to accept bitcoin isn’t just about adding another payment method — it’s about meeting customers where they are. Buyers are drawn to bitcoin for more than novelty. They want faster payments, lower costs, and sometimes even the privacy and independence that a digital currency provides.

That demand is already showing up at the checkout. A Forrester study found that up to 40% of customers who pay with digital currencies are new to the merchant, meaning bitcoin can actually expand your reach. On top of that, average purchase sizes are twice as large as those made with credit cards, and there are no fraud-related chargebacks to worry about.

Why Bitcoin Payments cost less

The difference comes down to the way Bitcoin Payments work. Instead of routing through traditional card networks (which typically take 2.5–3.5% in fees and can take days to settle) transactions are sent over the Lightning Network. Lightning is an open payments layer built on top of the Bitcoin Network that makes transactions near-instant and costs only fractions of a cent. For high-volume or low-margin businesses like coffee shops, food trucks, or ecommerce sellers, those savings can add up quickly.

Chapter 1 | Chapter 2 | Chapter 3 | Chapter 4 | Bitcoin as everyday money

Square brings that same reliability directly into your point of sale with Bitcoin Payments. You can accept bitcoin from anyone, anywhere, without extra hardware or apps. You decide whether to hold the payment in bitcoin or instantly convert it to USD, so you don’t take on risk if you don’t want to. Either way, settlement happens instantly, giving you immediate access to your money.

For businesses selling across borders, the benefits go even further. Travis Drew, who runs Medypain, often works with international suppliers. “For the international suppliers who send them bank transfers, I could see digital currency definitely being a benefit with this. With the bank fees and all that, bitcoin would make it a lot easier for these types of payments because bitcoin is decentralized.”

More importantly, the benefits go beyond the individual business. “When a coffee shop or retail store can accept bitcoin through Square, small businesses get paid faster and get to keep more of their revenue. This is about economic empowerment,” Suter explained.

Bitcoin Payments turn what used to feel like an experiment into a practical advantage. Instead of losing a slice of every sale to card fees or waiting days for deposits, you can keep more of your revenue and put it to work right away.