Jack Dorsey’s Square Cash Allows Anyone to Buy and Sell Bitcoin
Square’s (NYSE:SQ) Cash App has been helping people send and receive money without fees for a while. Originally an money-by-email service, Cash App has grown into a more robust offering with its own prepaid Visa card. The company has been testing buying and selling Bitcoin via the app, as well, and has made it official.
Currently, Bitcoin is trading at: 9,927.4951, -221.399, or -2.18%, as of 3:51a GMT, the market is open.
So, people can now buy and sell Bitcoin instantly with the Cash App!
The feature is available to most everyone who uses Cash App, unless they are in New York, Georgia, Hawaii or Wyoming.
The company promises that it is working on it.
This looks to be a pretty simple way to get into owning Bitcoin, though Square warns that the cryptocurrency’s price is “volatile and unpredictable.”
While the company won’t add additional fees when you purchase Bitcoin through its app, it calculates the price when buying based on a quoted mid-market price and margin, which could be different when selling.
Buyers will be limited to up to $10,000 in Bitcoin per week, plan accordingly.