One small step for Cash App, one giant leap for Bitcoin! The payment giant Cash App will now allow users to receive BTC as payment on the platform. Fortunately, Bitcoin is crawling its way into mainstream payment apps and Cash App is one of the biggest of all. With a tremendous user base, this feature can bring millions of potential investors to invest in BTC. Primarily, the feature aims to be a seamless way to get paid in BTC using the Lightning Network.
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Cash App Gives You Bitcoin
Cash App’s crypto product lead Miles Suter revealed a new feature named “Paid in Bitcoin”. Speaking at the Bitcoin 2022 conference in Miami, Suter officially introduced the new feature. Basically, it allows the user to convert their direct deposits in the leading crypto asset with no added cost.
“To make Bitcoin more relatable, we’re starting to roll out ‘Paid in Bitcoin,’ a simple and completely free way to auto-invest your paycheck into Bitcoin…
We already have a significant number of customers receiving recurring paychecks into Cash App.
With two taps, they’re now going to be able to select a percentage between one and a hundred the fiat coming through the ACH rails will be converted into beautiful BTC for free.”
Cash App Crypto
That being said, “Paid in Bitcoin” is not the only crypto project Cash App is working on. Currently, there are two other projects that Suter discussed in the conference. First, Bitcoin Roundups. This feature will let the users utilizing specific debit cards within the program round up payments to the nearest dollar and buy Bitcoin with the difference. So, instead of gum, you get to buy BTC with your change.
“Bitcoin Roundups is an easy and completely free way to auto-invest your spare change from your Cash Card transactions into Bitcoin. All you need to do is have a free customizable Card, enable Roundups, and select Bitcoin. That’s it.”
Next, Suter talked about the Lightning Network. Essentially, it is a Layer-2 payment protocol for Bitcoin. He stated that the consumers will now be able to send BTC through this network. Cash App integrated the network in January for the first time allowing user to receive BTC.
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