Block Chain

Block Allows Cash App Users to Gift Bitcoin for the Holidays

This vacation season, Cash App customers will likely be in a position to reward each crypto and inventory to different customers of the app.

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“With Cash App, you can now send as little as $1 in stock or bitcoin. It’s as easy as sending cash, and you don’t need to own stock or bitcoin to gift it.” Cash App stated through its official Twitter account.

The app, owned by Digital funds firm Block – previously referred to as Square, joins different companies like Stockpile, PayPal and Coinbase in permitting customers to reward shares and cryptocurrencies to third events, respectively, however Cash App notes that is the first time such options have been provided in a peer-to-peer funds app.

Block additionally famous that Cash App customers can now select to cut up payments and repay associates by sending them shares or bitcoin, not simply money.

On Nov 5, 2021, Blockchain.News reported that Cash App generated $1.82 billion in Bitcoin income and $42 million in Bitcoin gross revenue in the third quarter of 2021, each elevated 11% and 29% year-on-year.

The function might probably encourage extra customers to begin investing and grow to be house owners of shares or bitcoin through Cash App.

Blockchain.News reported on Dec 2, 2021, that Square Inc, initially a credit score card-reader enterprise, renamed itself as Block Inc because it plans to broaden its companies in the direction of blockchain, music, and money transfers.

The identify change of the funds large co-founded by cryptocurrency fanatic Jack Dorsey – who stop as the CEO of Twitter – was efficient from Dec 10.

Image supply: Shutterstock

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