Square CEO Dorsey says "most" Cash users can now buy bitcoin

Allan Goodman
February 2, 2018

Users are limited to purchases of up to $10,000 worth of bitcoin per week.

Your bitcoin are held by Square, meaning they are tied to your account and not device.

Instant buying (and selling, if you don't want to hodl) of Bitcoin is now available to most Cash App customers.

Cash App bitcoin trading isn't available in four USA states - New York, George, Hawaii, and Wyoming - though Square said it is working on rolling it out in those locations.

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The inclusion of Bitcon in the Square Cash application will indirectly encourage merchants to accept Bitcoin as payment, since Square operates on a PoS (Point of Sale) network. The app was rolled out to select users a year ago, but now the number of users has been expanded to include most of its customers. Popular stock-trading app Robinhood announced last week that it will be launching its crypto trading app to its users to buy and sell digital currencies at absolutely no fees. The process can be done in four easy steps and users can confirm their payments by typing in their passcode or with Touch ID.

Cash App is a peer-to-peer payment system that allows people to pay each other directly and quickly.

"Bitcoin's price is volatile and unpredictable, so please make wise financial decisions", the platform said.

United States digital payment company Square has rolled out a Bitcoin trading feature to most users of its popular Cash mobile app. "Cash App is also compliant with PCI Data Security Standard (PCI-DSS) Level 1". The Twitter CEO tweeted a statement announcing the new service. He said the Cash App added the bitcoin feature "because we see it as a long-term path towards greater financial access for all". CEO Jack Dorsey says the feature is "the first step" to making bitcoin more widely accessible, so the team also built a beginner's manual for bitcoin to further the effort.

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