Skip to main content
All CollectionsCurrency Conversion and Funds TransfersCurrency Conversion
Automatic Conversion to USD
Automatic Conversion to USD

You can accept bitcoin and instantly convert it to USD if your company's principle place of business is the U.S., your settlement currency is USD and you have a US-based USD bank account. See state exceptions below.

Updated over 3 months ago
Image of a laptop displaying Automatic conversion settings on OpenNode

Supported States

Conversion to USD and USD transfers are not available for individuals and businesses in:

  • Alaska

  • Arkansas

  • Connecticut

  • New York

  • North Carolina

  • Texas

What is Automatic Conversion to USD?

Automatic Conversion allows businesses to accept bitcoin and receive USD at the time of the transaction. This allows U.S.-based businesses to avoid exposure to Bitcoin price changes. We are always evaluating opportunities to support additional currencies.

OpenNode also provides businesses the option to receive bitcoin and exchange it to USD at anytime from within the dashboard.

How does it work?

When you enable Automatic Conversion, OpenNode converts incoming bitcoin payments to USD at the time of the transaction. USD funds are credited directly to the USD wallet associated with your OpenNode account and powered by our Bank Partner(s).

Image of the OpenNode dashboard showing steps before Automatic conversion

Note: Funds in your USD wallet are held in a bank account in your name. 

To withdraw USD from the account associated with OpenNode to your destination bank account, please follow the steps outlined in Bank Transfers. Bank Transfers may be subject to transfer fees, minimum fees, and/or withdrawal minimums.

How to Enable Automatic Conversion

Automatic Conversion is enabled by default when you first link a bank account to enable a USD wallet:

  1. Log in to your OpenNode dashboard.

  2. Click to enable your local currency wallet

  3. Add your bank account information.

Disabling Automatic Conversion

To disable Automatic Conversion:

  1. Log in to your OpenNode dashboard.

  2. Go to Settings, then Payments.

  3. Use the toggle to disable Automatic Conversion.

Have questions? Let us know!

You can reach us at support@opennode.com or use the chatbot at the bottom right of any OpenNode dashboard page.

Did this answer your question?