After Jack Dorsey's official exit from Twitter, he announced that he wants to get back into more entrepreneurial routes and focus more on crypto.
He has since changed the name of Square to Block and now Jack Dorsey's cash app will be allowing users to send as small as $1 in Bitcoin or stock as gifts the exact same way users have been sending cash.
Digital Payment Company Block
According to the story by CoinTelegraph, Dorsey's digital payments company, which is known as Block and previously called Square before the name change, has announced that it will allow users to gift both crypto and stock to family or friends during the holiday season.
Cash App tweeted that its users, which already total about 40 million active users per month, can now send as minimal as $1 in Bitcoin or stock as a gift. To add, users will be able to send the crypto or stock the same way they had been sending cash in the past.
With Cash App, you can now send as little as $1 in stock or bitcoin. It’s as easy as sending cash, and you don't need to own stock or bitcoin to gift it. So this holiday season, forget the scented candles or novelty beach towel, and help your cousin start investing. pic.twitter.com/HS0CqusiLS
— Cash App (@CashApp) December 14, 2021
Cash App Allows Users to Send as Little as $1 BTC or Stock
Per the tweet, users of Cash App will be able to send as little as $1 in stock or Bitcoin as gifts to other people. Cash App further added that it is as easy as users sending cash and that they do not even need to own either stock or Bitcoin in order to be able to give it to others as gifts.
Cash App then noted that for the holiday season, people should use the opportunity to help their families by going for investments instead of buying the usual gifts like scented candles or towels for Christmas.
BlockFi Reveals Americans are Willing to Accept ETH, BTC, and DOGE
The popular payments firm is now joining others that allow their users to use crypto either as payment or as a gift for others. Other firms who are already doing this include Coinbase and PayPal.
As per a previous report by CoinTelegraph dated Dec. 7, there is a study made by the lending firm BlockFi that shows just how many Americans are willing to accept cryptocurrencies like ETH, BTC, and DOGE as gifts over this holiday season.
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Crypto Transfer was a Hindrance for Newbies
The same survey, however, revealed that the majority of respondents do not necessarily have the skills that are required to transfer crypto. In addition, a lot of critics have even attributed sending BTC to newbies as part of the reason why many coins have been lost since 2009.
Other projects are reportedly accepting donations in crypto during the holiday season in order to help those in need. Unbank, a Fintech provider, announced earlier this month that it would finally be enabling crypto donations for Toys for Tots.
Toys for Tots is a program that is run by the United States Marine Corps. The program collects toys that are then distributed to underprivileged children. In addition to this, platforms just like Giving Block also allow non-profit organizations and charities to accept crypto donations.
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Written by Urian B.
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