Square Cash is letting some users buy and sell Bitcoin
Square is testing cryptocurrency support in their Cash app, according to TechCrunch reader Zach Miles on Twitter and confirmed by the company.
The trial, which seems to only be available right now to a small number of users, lets you buy and sell bitcoin directly in the app.
The interface is very basic. Users who have access to the beta can swipe right from the Cash Card page to access bitcoin functionality. Once there users will see a balance in USD and BTC, a graph showing performance over the last day, month or year and buy / sell buttons.
There is a button to generate a wallet address – but the balance in one wallet address we checked didn’t match the user’s bitcoin holdings, meaning Square is likely using pooled wallets to hold user funds and not storing private keys on a user’s device, similar to how Coinbase works.
The trial, which seems to only be available right now to a small number of users, lets you buy and sell bitcoin directly in the app.
The interface is very basic. Users who have access to the beta can swipe right from the Cash Card page to access bitcoin functionality. Once there users will see a balance in USD and BTC, a graph showing performance over the last day, month or year and buy / sell buttons.
There is a button to generate a wallet address – but the balance in one wallet address we checked didn’t match the user’s bitcoin holdings, meaning Square is likely using pooled wallets to hold user funds and not storing private keys on a user’s device, similar to how Coinbase works.
Square Cash Is Testing Letting Some Users Buy and Sell Bitcoin
Square, best known for its technology that allows merchants to process credit card transactions without a cash register or expensive system, says its customers have shown an appetite for the “alt-currency.”
“We’re always listening to our customers and we’ve found that they are interested in using the Cash app to buy bitcoin,” a company spokesperson said.
“We believe cryptocurrency can greatly impact the ability of individuals to participate in the global financial system and we’re excited to learn more here,” Square said.
“We’re always listening to our customers and we’ve found that they are interested in using the Cash app to buy bitcoin,” a company spokesperson said.
“We believe cryptocurrency can greatly impact the ability of individuals to participate in the global financial system and we’re excited to learn more here,” Square said.