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Why is OpenNode Bitcoin-only?
Why is OpenNode Bitcoin-only?

OpenNode only processes Bitcoin payments because BTC is the only cryptocurrency with regulatory clarity for merchants accepting payments.

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Written by OpenNode Support
Updated over a week ago

Legal and Regulatory Unambiguity

Bitcoin has proven to be the only crypto-asset that is secure, anti-fragile, and resilient to censorship. The U.S. Commodity Futures Trading Commission (CFTC) has defined Bitcoin as a commodity and that it should be handled as such. This landmark decision gives Bitcoin legal and regulatory clarity, which can't be said for any other crypto-asset in existence.

Bitcoin is the only cryptocurrency that has the regulatory and legal status that we feel comfortable exposing our clients to. We do not want to expose our clients to possible complex financial products so we have decided to focus on Bitcoin only.

Bitcoin is a Provably Scarce Asset

Only 21 million individual bitcoins will ever exist, and each coin is broken into 100,000,000 parts, called Satoshis. This scarcity is proven by the Bitcoin protocol and it creates a unique store of value that hasn't existed in the world before. 

Bitcoin is an opportunity for anyone with an internet connection to access economic prosperity, equity, and financial services while remaining fully within the legal frameworks set up by the US (and other nations') government. 

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