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Square's Online Merchants Can Now Accept Bitcoin, but It Won't Be a Bargain

Jason Del Rey has been a business journalist for 15 years and has covered Amazon, Walmart, and the e-commerce industry for the last decade. He was a senior correspondent at Vox.

Square announced on Monday that businesses that sell through the Square Market e-commerce program can accept bitcoin as payment, thanks to a partnership with bitcoin startup Coinbase. But unlike bitcoin processors that typically charge merchants one percent or less to change bitcoin into a local currency, Square is charging its merchants the 2.75 percent typical of credit card purchases, a spokeswoman said.

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