RATE Group | New Cash App Feature Allows Bitcoin Purchases
88792
post-template-default,single,single-post,postid-88792,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

New Cash App Feature Allows Bitcoin Purchases

20 May New Cash App Feature Allows Bitcoin Purchases

Posted at 22:54h in Cryptocurrency News by

Consumers will now be able to make automatic purchases of bitcoin via Cash App, and in smaller satoshi denominations that could lead to more accessibility, CoinDesk reports.

A tweet from Square and Twitter CEO Jack Dorsey, showing a screenshot of how the new option works, reveals that consumers can set up automated purchases denominated in satoshis, the smallest transaction unit valued at 0.00000001 percent of a bitcoin.

Because bitcoin is valued at around $10,000, even just one is too expensive for many retail investors. The coin is also somewhat scarce with just 21 million in existence.

But with satoshis, there are 2.1 quadrillion around, priced at $0.0009, making them more accessible to a broader range of people.

For comparison, few people set out to purchase whole troy ounces of gold, but instead go for smaller denominations.

Cash App, developed by Square, is now the largest payment app to offer satoshi payments.

There is a $10 cap, but the…

Source link

Tags:
, , , ,