Cash App recently launched a new feature that would allow users to gift their friends and family with stocks and bitcoin. The app has taken gifts to another level with this new feature that will literally allow users to gift cryptos to their loved ones with this feature. The giveaway feature works the same as sending money in the app, but this time around, users will be able to offer as little as $ 1 in stock or crypto.
Offer Bitcoin with the Cash application
The payment app had taken Twitter to announce the deployment of the new functionality. He explained that users will be able to gift cryptos and stocks to their loved ones whether or not they own them themselves. It would be like sending money to the app and just as easy. The feature was to allow users to help loved ones start their investment journey by offering them their first stock or bitcoin.
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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 money, and you don’t need to own stocks or bitcoin to get them. So this holiday season, ditch the scented candles or the fancy beach towel and help your cousin start investing.
The new Cash App giveaways feature will only be available to users in the United States. The payments app is owned by Block, formerly Square, which is run by former Twitter CEO Jack Dorsey. With the rebranding announcement, Dorsey explained that the brand’s mission was to help the seller community, by creating tools that give access to the economy.
BTC continues downtrend | Source: BTCUSD on TradingView.com
Other companies are launching
Cash App is not the first to announce a bitcoin and stock giveaway option to its users. The crypto exchange Coinbase had deployed a similar feature which is currently live where users can gift cryptocurrency to family and friends. Crypto is offered using a user-chosen digital card inspired by NFT art.
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The Robinhood trading app had also recently rolled out a giveaway feature. Users of the app can gift up to seven cryptocurrencies to loved ones, including Bitcoin and Ethereum, for as little as $ 1. It’s about tapping into its younger population of users who are more likely to gift crypto to friends and family instead of conventional holiday gifts.
Cash App is, however, the first peer-to-peer payment service to offer its customers a crypto and stock donation service. All other brands are trading platforms where users can directly trade cryptocurrencies and stocks. Users can choose to send crypto or bitcoin using their existing Cash App balances or using a debit card.
Featured image from Yahoo Finance, chart from TradingView.com