Why can we buy bitcoin on cashapp

Former Google director Steve Lee was recently named as the first new hire for this team, though his role has not yet been specified. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Share This Story.

Jeff Francis Nov 15, The acceptance of Bitcoin is set to skyrocket as the Square Cash app is now allowing a select few to buy and sell the digital currency. All that effort is slowly paying off as major financial institutions are getting involved in cryptocurrency, and another huge step has just been taken. News has started to spread that a small number of users of the Square Cash app can now use it to buy and sell Bitcoin. Huge deal if Square customers can soon buy bitcoin, opening up an entirely new market of users and a great UX.

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Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. The network is peer-to-peer and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in Cash is an utility app and one of the products of well known company in payments solution called Square which is already into the space of point of sale systems for merchants and small business owners with their innovative solutions.

Jeff Francis Nov 15, The acceptance of Bitcoin is set to skyrocket as the Square Cash app is now allowing a select few to buy and sell the digital currency. Caan that effort is slowly paying off as major financial institutions are getting involved in cryptocurrency, and another huge step has just been taken. News has started to spread that a small number of users of the Square Cash app can now use it to buy and sell Bitcoin.

Huge deal if Square customers can soon buy bitcoin, opening up an entirely new market of users and a great UX. The fact that some people can use the Square Cash app to deal in Bitcoin has come as a surprise.

There was no big announcement beforehand touting this new feature, but the word has gotten out and has started to spread like wildfire. Square has acknowledged the Bitcoin feature of the Cash app, and they issued a statement, saying :.

Jack Dorsey, the CEO of Square and Twitterhas to be grinning from ear to ear with the reaction to this development. He has long been a major proponent of blockchain technology, and he recently discussed in an interview about how a lot of people asked him on a recent trip back home to St.

Louis about how to buy Bitcoin. He said:. I said why do you bitccoin to buy Bitcoin, and they said, I heard it was a fast, easy way to make money. The new Bitcoin functionality on the Square Cash bihcoin is huge.

Dorsey hinted in whh interview above how Bitcoin could be a tool that Square offers to merchants. Many Americans, and others around the world, would be thrilled to make purchases using Bitcoin via the app. As for now, only a small number of users of the Square Cash app can buy, hold, and sell Bitcoin. What do you think about the Square Cash app allowing people to buy and sell Bitcoin? Is this a huge leap forward in Bitcoin acceptance? Let us know in the comments.

Could you be next big winner? I consent to my submitted data being collected and stored. Reports emerged that hackers have demanded bitcoin as ransom from users of vulnerable cameras sold by Amazon and its subsidiary Ring.

Bitcoin is constantly being used as a means of Most people Bitcoin BTC took off with its mainstream appeal since around mid Since that time, the market price of BTC has seen ups and downs, with at least a dozen dramatic days of All Rights Reserved.

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News Bitcoin Ransom Demanded from Users of Ring Cameras Reports emerged that hackers have demanded bitcoin as ransom from users hwy vulnerable cameras sold by Amazon and its subsidiary Ring. Ali why can we buy bitcoin on cashapp hours ago.

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With a flat 1. Former Google director Steve Lee was recently named as the first new hire for this team, though his role has not yet been specified. If so, the fee will csshapp listed on the trade confirmation before you complete a transaction. Square first began allowing select Why can we buy bitcoin on cashapp App users to purchase and sell bitcoin in Novemberannouncing a few months later that it would roll that feature out to all users. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Jacob Kleinman. Levine Bradley Keoun Dec 20, One screenshot of a purchase page dated Nov. Levine Bradley Keoun Dec 20, The app, available ehy both Android and iOS, now supports deposits for at least some users, according to Twitter posts by bitcoiners and a check by a CoinDesk reporter onn his own Square account Tuesday. It is unclear how long Square cqn been adding the deposit feature; as of press time, not every Cash App user had the ability to deposit bitcoin. Update Nov. Then scroll over to Funds and select Bitcoin.