Square allows merchants to accept bitcoin. This is great because bitcoin payments made over the lightning network are interoperable with the cash app, Square, and dozens of other Bitcoin wallets; but only nerds care about that kind of stuff. By the way, I am one of those nerds, but what’s in it for you? There are three main benefits of accepting bitcoin for businesses that don't really care about Bitcoin:
- You can get free marketing for your business.
- The money is available within seconds instead of days/weeks.
- Bitcoin payments made over the lightning network have zero processing fees (compare it with credit cards charges up to 3% fees)
These things are cool! It would be pretty neat to see a bunch of merchants putting signs like this out just cause they hope it might make better business sense.
I agree but actually prefer this latest feature that allows the merchant/business to remain private and the customer decides how to pay. By now, I assume, every Square merchant is a bitcoin-accepting business by default.