Block's Cash App will allow users to gift BTC for the holidays
Block's Greenbacks App will allow users to gift BTC for the holidays
"Information technology's as piece of cake equally sending cash, and you lot don't demand to own stock or Bitcoin to gift it," said Cash App, allowing transfers as low equally $ane.
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Digital payments company Cake, formerly chosen Square, has appear that users of its subsidiary Greenbacks App will be able to gift friends and family both crypto and stock over the holiday season.
According to a Tuesday tweet, Cash App said its users — roughly twoscore million agile monthly — could ship as little as $1 in Bitcoin (BTC) or stock every bit a gift in the same way they had been sending greenbacks. The payments business firm joins others including PayPal and Coinbase in allowing users to ship crypto as payments or gifts to third parties.
With Cash App, you can now send as niggling as $ane in stock or bitcoin. It'due south equally piece of cake every bit sending cash, and you don't need to own stock or bitcoin to souvenir it. So this holiday season, forget the scented candles or novelty beach towel, and help your cousin kickoff investing. pic.twitter.com/HS0CqusiLS
— Cash App (@CashApp) December 14, 2022
Cointelegraph reported on December. vii that a study by lending firm BlockFi showed many Americans would be willing to take cryptocurrencies, including BTC, Ether (ETH) and Dogecoin (DOGE), as gifts this vacation season. However, the same survey revealed that the bulk of respondents did not have the skills to transfer crypto. Many critics accept attributed sending BTC to newbies as part of the reason so many coins have been lost since 2009.
Related: Gifting crypto to loved ones this holiday? Educate them first
Other projects are accepting donations in crypto over the holidays to help those in demand. Fintech provider Unbanked appear earlier this month it would exist enabling crypto donations for Toys for Tots, a program run by the United States Marine Corps that collects toys to distribute to disadvantaged children. In improver, platforms such equally the Giving Block allow nonprofit organizations and charities to have donations in crypto.
Source: https://cointelegraph.com/news/block-formerly-square-will-allow-users-to-gift-btc-for-the-holidays-using-cash-app
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