Cash app has just launched a feature which allows users to give bitcoin and stock to their family and friends. This new feature will allow you to give crypto to your loved ones. This gifting function works in the same manner as sending money through the app, but users can now gift $1 worth of stock or cryptocurrency.
Sending bitcoin with cash app
Twitter was the new home for the payments app. announceThe new feature is now available. The new feature will allow users to give stock and crypto to loved ones, regardless of whether they own any. This would work in the same way as sending money through the app. This feature allows users to gift their friends their first stocks or bitcoins to start investing.
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“With Cash App, you can now send as little as $1 in stock or bitcoin. It’s as easy as sending cash, and you don’t need to own stock or bitcoin to gift it. So this holiday season, forget the scented candles or novelty beach towel, and help your cousin start investing.”
Cash App’s new gifting feature will only be available to users in the United States. Block (formerly Square), is the owner of this payments app. It is currently run by Jack Dorsey, ex-CEO Twitter. With the announcement of the rebrand, Dorsey had explained that the brand’s mission was to help the seller community, by building tools that give access to the economy.
BTC remains in a downtrend Source: BTCUSD from TradingView.com| Source: BTCUSD on TradingView.com
Others Companies Join the Jump
Cash App isn’t the only company to provide a Bitcoin and Stock gifting feature to users. Coinbase, a crypto exchange, has a similar function that allows users to give cryptocurrencies to family members and friends. A digital card that has been inspired by NFT artwork is used to gift the crypto.
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Robinhood is a popular trading platform that recently introduced a gifting function. The app allows users to give up to seven cryptocurrency to loved ones, including bitcoin and even ethereum. Prices start at $1 The app aims to appeal to a younger audience of people who prefer to give crypto gifts to family and friends over traditional holiday presents.
However, Cash App was the first peer to peer payments platform to provide stock and crypto gifting services to customers. Other brands offer trading platforms that allow users to trade stocks and cryptocurrencies directly. The user can either send cryptocurrency or bitcoin with their Cash App balances.
Featured Image from Yahoo Finance. Chart from TradingView.com