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Why do I have both a Bitcoin and a local currency wallet?
Why do I have both a Bitcoin and a local currency wallet?

Find out how your Bitcoin and local currency wallet receives funds and how to set one up.

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Written by OpenNode Support
Updated over a week ago

The only payment that you can receive through the OpenNode platform is Bitcoin. When Bitcoin hits your OpenNode account, two things can happen: the funds can remain in Bitcoin or they can be converted into one ouf our supported local currencies.

USD Wallet (Local Currency Wallet)

If funds are converted from Bitcoin into a local currency through a bank transfer, automatic conversion, or split settlement, they will end up in your USD wallet (local currency wallet.

Note: Funds in your USD wallet will stay there until you initiate a bank withdrawal, which takes 1-3 days to complete.

Image of Local Currency Wallet

Setting up your USD Wallet

To get set-up with a local currency wallet, complete the OpenNode KYC/KYB requirements, and connect your bank account.

Bitcoin Wallet

In the case that Bitcoin funds are not transferred, they will end up in your Bitcoin Wallet

Image of Bitcoin Wallet
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