Square's Cash App Helps Make Bitcoin More Accessible

Square CEO announces support for Bitcoin payments

We told you about the Cash App in November when Bitcoin was trading at about $11,000.

Twitter and Square CEO Jack Dorsey today announced the Cash app would support instant buying and selling of.

Though Cash App, a Venmo competitor, is primarily used to settle small payments between friends, the bitcoin feature is only for buying, selling, and holding the cryptocurrency, which has traded around $10,000 for the last couple of weeks. Long a supporter of Bitcoin, Dorsey's next move with its Cash App, is not that much of a surprise. In fact, at the time of writing, Bitcoin was trading near $11,000. The app isn't adding a fee to purchases, but the sale price will be a mid-market price averaged from different exchanges, and include a spread.

Cash App's main advantage is that it lets its users buy and sell instantly, since the app already has access to cash balances and bank accounts.

The release comes as popular free stock trading app Robinhood just announced they'll soon add free cryptocurrency trading for all users.

Outraged Over Polish Holocaust Bill, Israeli Minister Calls to Recall Ambassador
The Polish government has said the legislation aims to stop the Polish people or state being blamed for Nazi crimes. Many of these Holocaust survivors agree with President Duda and his disdain for the term " Polish death camps".

Likewise, Square's announcement also generated positive interest in the company-raising the value of its shares by 4 percent, before closing at a 3 percent increase. The market is set to open sometime this month and has already found huge interest among eager cryptocurrency traders-with more than 1 million people waiting to register.

We believe bitcoin and other crypto sales represent a potential mid/long term growth opportunity for Square and we are positive on the strategy.

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

The service will not be available for customers in NY state, Georgia, Wyoming and Hawaii, according to Square's website.

Images courtesy of AdobeStock and Robinhood.

Related News:

  • FDA wants to stop abuse of Imodium

    FDA wants to stop abuse of Imodium

    At low doses, the medicine helps control diarrhea. "Simply put, escalating use may place you at risk for an overdose". FDA is continuing to evaluate this safety issue and will update the public when more information is available.
    GX MSCI Pakistan ETF (PAK): Stepping into the Trading Studio

    GX MSCI Pakistan ETF (PAK): Stepping into the Trading Studio

    Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. When CMF is above zero it is indicator of buying pressure and when it is below zero it is indicator of selling pressure.
    Roger Goodell 'concerned' with catch rule, pushing for change

    Roger Goodell 'concerned' with catch rule, pushing for change

    The latest outcry came at the end of this season's New England Patriots-Pittsburgh Steelers game on December 17. Because when you add or subtract things, you can still lead to confusion". "I feel good about that".
  • Manchester City go 15 points clear; Manchester United, Chelsea suffer

    Manchester City go 15 points clear; Manchester United, Chelsea suffer

    Stoke City's goalless draw with Watford also left them alongside Newcastle and Brighton, just four points ahead of West Brom. Today, good players are so expensive.
    Entire US Gymnastics board resigns in wake of Nassar abuse scandal

    Entire US Gymnastics board resigns in wake of Nassar abuse scandal

    Nassar was sentenced to 40 to 175 years in prison for seven counts of criminal sexual misconduct on January 24 in MI . On a separate offense, Nassar was already sentenced to 60 years for charges of federal child pornography.

    Government Agencies Consider Investigating Apple After iPhone Scandal

    Apple has offered to replace any affected batteries for $29, down from the company's previous $79 price. Because the investigation is still early, it's unclear if the agencies will take action against Apple .
  • Bitfinex Tether fraud investigation causes bitcoin price to dive

    Bitfinex Tether fraud investigation causes bitcoin price to dive

    Some analysts predict that a collapse in Tether could lead to a collapse in the entire cryptocurrency market. They compared it to fractional-reserve banking - a system many bitcoin users would like to escape.
    India manufacturing PMI falls in January after a 5 year high

    India manufacturing PMI falls in January after a 5 year high

    Strong demand continued from domestic and overseas customers, with new orders showing an 18th successive increase. Among components, output, new orders and employment all increased at slower rates in January.
    Celtic to sign Chelsea midfielder Musonda

    Celtic to sign Chelsea midfielder Musonda

    Musonda believes the demands of playing for Celtic will prove invaluable. He said: "It was incredible to play in front of the fans at Celtic Park.
  • Samsung makes crypto-currency chips

    Samsung makes crypto-currency chips

    TSMC , for example, has added roughly $350 to $450 million to its quarter revenues thanks to the cryptocurrency market explosion. It marks the first time the U.S. firm has not occupied the top spot since 1992, according to the Bloomberg news agency .
    North Korea Cancels Joint Performance With South Korea

    North Korea Cancels Joint Performance With South Korea

    Some South Koreans believe that President Moon Jae-in gave up too much to the North to have them participate in the Games. And US officials told The Washington Post's Josh Rogin that a possible first-strike at North Korea was not imminent.
    Kevin Love To Miss 6-to-8 Weeks With Broken Hand

    Kevin Love To Miss 6-to-8 Weeks With Broken Hand

    Love was also sidelined for 16 games last season after undergoing arthroscopic surgery on his left knee on February 14. The Cavs never recovered and the Pistons stretched the margin to 120-106 with 2:49 to go and continued to pour it on.


Most liked

IAF officer in custody for spying
It is also being probed whether he was part of a larger espionage ring being run from Pakistan , the sources said. The investigators are also probing whether the officer was a victim of honey trap.

Pelicans show interest in acquiring Memphis guard Tyreke Evans
Evans would be a good guard to add for the Rockets, some more scoring to mitigate the rash of injuries Houston has endured lately. Even though his deal would expire at the end of the season, he would help the Sixers in their pursuit of the playoffs.

Proteas without injured De Villiers for first three India ODIs
The original idea, that the BCCI and Cricket South Africa couldn't work out to much effect, was to schedule four Tests. And when you're playing against strong teams, you always want to play your strongest team.

SC awards one-month jail term to Nehal Hashmi in contempt case
The PML-N leader has been transferred to Adiala Jail where he will serve his sentence for a month. The court in his verdict, which was reserved on Jan 24, also imposed a five of Rs50,000.

Suns guard Isaiah Canaan breaks ankle in gruesome injury
Isaiah Canaan left Wednesday night's Phoenix Suns-Dallas Mavericks game on a stretcher after suffering a bad leg injury. He was wheeled off the court shortly thereafter and the Suns later announced Canaan fractured his left ankle.

Britain worse off under any Brexit scenario
That would rise to 8% if Britain left without a deal and was forced to fall back on World Trade Organisation (WTO) rules.

Cutest pictures of Shahid Kapoor and Mira Rajput's adorable daughter Misha
She further said, "The moment we stepped on the ramp, I just looked at him and said all the best but I needed all the luck". After the show, Shahid said, "Mira looks as attractive today as she looked that day.

Budget 2018: Our govt doesn't consider cryptocurrencies as legal tender, says Jaitley
It also allocation to food processing ministry is being doubled to Rs 1,400 crore from Rs 715 crore. Jaitley said, "Loans to self help groups will increase to Rs 75,000 crore by March 2019".

Bournemouth Stun Chelsea At Stamford Bridge
Asked if he was concerned about Chelsea's ability to finish in the top four, Conte said: 'Yes, yes. "It won't be easy". Chelsea slipped to fourth place in the table on Wednesday night after surprisingly losing 3-0 at home to Bournemouth .

FBI Has 'GRAVE CONCERNS' Over Releasing FISA Memo — RELEASE THE MEMO
A White House official said the President, technically, wouldn't have to do anything this week and the memo would become public. Adam Schiff , D-California, ranking member on the House Intelligence Committee, concurred with the FBI's position.

Trump's State of the Union crashed a fact-checking website
In the audience were the parents of Kayla Cuevas and Nisa Mickens , the two teens killed by the MS-13 gang on Long Island in 2016. Joe Manchin (D-WV) who often stood with Republicans in applauding certain issues. "That's what I'm trying to do". "That's right.

Chelsea Sign Arsenal Striker Olivier Giroud
The France global scored 105 goals and won three FA Cups after joining Arsenal from Montpellier in 2012. Chelsea Football Club has today completed the signing of striker Olivier Giroud from Arsenal .

Redskins' DJ Swearinger Blasts Alex Smith Trade: 'It's Bulls
But Cousins is going to get paid what he wants because so many National Football League teams are in dire need of a quarterback. While Cousins had some impressive stats as a member of the Washington Redskins, winning was not one of them.

PayPal's shares fall after eBay announces new payment partner
The fourth-quarter loss included the charge, while the prior-year quarter included a tax benefit of $4.6 billion. The results included a net tax expense of $180 million connected to the recent US tax reform, the company said.

Trinamool Sweeps Noapara by Huge Margin; Congress Overtakes BJP Again in
The parliamentary seat witnessed a quadrangular contest with BJP trying to emerge as the prime challenger to the TMC. Counting of votes for West Bengal's Uluberia Lok Sabha constituency and the Noapara Assembly is also underway.