Gift offerings are in season, with Christmas and other holidays coming up. If you’ve ever thought about gifting your friends or loved ones with stocks or bitcoins, the Cash app makes it easier than ever.
The Cash app allows a new way to send BTC
Cash App introduced a new feature that will allow peer-to-peer payments between users. Block’s proprietary Cash app (formerly known as Square) allows users to send bitcoins and traditional shares as gifts to other platform users.
To be fair, cryptocurrency exchanges like Coinbase and financial services companies like Stockpile have been doing things like this for years. However, this will be the first time this option will be available through a simple P2P application.
The only thing about this situation is that, under normal circumstances, the Cash app would allow users to simply send bitcoins to any $Cashtag placed on the app. However, it now appears that customers can simply use their attached debit cards or USD accounts to send the BTC in question. This is a big step forward, as the recipient does not necessarily have to own bitcoins or cryptocurrencies to receive the financial gift, nor does the sender have to have it. They can simply pay cash and send the BTC to the right person.
In addition, the initial process of sending bitcoins to a recipient was done through the investment guide of the Cash app. Now all it takes is a cash balance or a debit card to do this. The market value of shares or bitcoins is sent in cash and the user gets the assets from there. If they don’t want to accept stocks or bitcoins, they can finally get the money.
The system doesn’t just work for gifts. Instead, people can also use share and bitcoin delivery options to pay their friends or even split bills. More importantly, this could spawn a new wave of digital currency traders entering the forum and engaging in what is now a dominant financial space.