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March 31, 2014 AT 6:27 pm

Square Market Accepts Bitcoin #makerbusiness

Adafruit 2828

Square Market Accepts Bitcoin.

Let’s dive into the technical details of checking out. When a buyer opts to “Pay with Bitcoin” we first generate a new Bitcoin address and attach it to the order. We will continually monitor this address throughout the checkout process so we know when it has received payment.

Next, the buyer submits their payment. Buyers with a mobile Bitcoin wallet, simply open their wallet and scan the QR code to load the transaction details. Those with a hosted Bitcoin wallet receive instructions for entering the required information.

Once the payment details are loaded into the buyer’s wallet, they submit their payment to the network. Next, we detect that our receiving address was successfully funded and automatically advance the buyer to the order confirmation page. It’s pretty magical to witness first-hand!

Keeping it simple for the seller, the seller receives the amount of the purchased goods or services in USD and in the amount of USD advertised to the sellers’ customer at the time of transaction, so the seller takes no risk on Bitcoin value fluctuations. The seller then fulfills their customer’s order. Seamless!

It’s exciting to take another step towards helping sellers reach more customers and making commerce easy for everyone.

Read more!


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