A new announcement was made by an influential American company based on financial services. It’s about the Square Cash App, that has introduced a Bitcoin trading service.
About the Square Cash App
Square Cash is a mobile application that allows customers to send money in an easier and faster way. Founded in 2013, by the Square Incorporation, it became an appreciated application by users due to its qualities services. Using a debit or a credit card you can easily send fiat currencies to another account.
About the Square Cash’s new payment service
The exciting announcement was posted on 31 January 2018 by the CEO, Jack Dorsey using the Square’s official Twitter page. He mentioned that “Instant buying (and selling, if you don’t want to hodl) of Bitcoin is now available to most Cash App customers. We support Bitcoin because we see it as a long-term path towards greater financial access for all. This is a small step.”
Is the Bitcoin trading service available for everyone?
Unfortunately, the Cash App isn’t available for users based in New York, Georgia, Wyoming and Hawaii.
Does the Bitcoin trading service add fees?
The team has mentioned on the Square’s official website that users can send and buy Bitcoins using the Cash App without any additional fees. But, actually the prices are calculated in accordance with those on mid-market.
Is there a limit of the maximum Bitcoins amount you can send and buy?
Yes, it is! The application allows you to buy up to 10.000 US Dollars owned in Bitcoins per week. Fortunately, on the other side you can sell Bitcoins as your wallet allows, because there is no limit for sending.
When did it all start?
The official announcement of the Square Cash App came after another mobile application, called Robinhood launched its own crypto trading services. This one has introduced an option to sell and buy Bitcoins and Ethereum with no additional fees.
It seems that begins a competition in terms of maintaining the loyal customers, but also attracting new amateur users of crypto technologies.
Do you think that the Square Cash App will be more successful than Robinhood platform by introducing the Bitcoin trading services?