Twitter and Square CEO Jack Dorsey today announced the Cash app would support instant buying and selling of Bitcoin. One of the biggest barriers to entry for cryptocurrency has been the difficultly and learning-curve involved in acquiring it. This could, potentially, change that entirely.
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.
We also made this! https://t.co/z3u0liDNk4
— jack (@jack) January 31, 2018
According to Square website Cash.me:
Cash App is already the easiest way to send and receive money with friends and family. We’ve made it just as easy to buy and sell BTC straight from your Cash App balance. Unlike other apps, most of our buys and sells happen in seconds. You can even spend your proceeds from a free Visa debit card.
Instant purchases and offloads seems like the feature we’ve been waiting for, but before we abandon all fiat currency and declare @Jack the defacto ruler of cryptoland, we’ll need some more information.
We’ve reached out for comment and will update if we learn more.