Square's Cash App Pilots Bitcoin Buying and Selling

Some users of Square's Cash App have quietly been given the option to buy or sell bitcoin within their accounts, according to reports.

AccessTimeIconNov 15, 2017 at 11:00 a.m. UTC
Updated Aug 18, 2021 at 7:28 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

A limited number of users of Square's Cash App have quietly been given the option to buy or sell bitcoin within their accounts, reports indicate.

According to Forbes, a Square spokesperson said in a statement that the payments company is "exploring" the option due to interest from customers, and the feature has been provided to a "small number" of Cash App users.

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • Cash App allows users to send and receive money from friends, family and co-workers, or accept payments for businesses, according to the firm. The new pilot appears to be primarily about allowing users to invest in bitcoin, since those given the new option can buy, sell and hold the cryptocurrency, but cannot make payments to contacts, according to the news source.

    However, the firm's spokesperson continued to say that cryptocurrencies "greatly impact individuals' ability to participate in the global financial system."

    There is no indication thus far on the daily buying or selling limits for the bitcoin feature, or any fees for the service.

    Using cellphones image via Shutterstock

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.