Despite rising and falling more than a Titanic-branded yo-yo, Bitcoin is still a tempting place to invest your money. While a market with such intense volatility may not be ideal for long-term gains, anyone who has an eye on making a quick buck buying and selling in rapid succession may find a place to invest. But the problems with Bitcoin always begin with getting started. We have our own guide on how to get started, but now, getting started in the mysterious world of cryptocurrency may be getting easier, thanks to an announcement from Twitter founder and Square CEO, Jack Dorsey.
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
Square’s service Cash App (available on the iOS App Store and on the Google Play Store) allows users to send money to friends and family quickly and easily, and that sort of seamless experience should appeal to users looking to get into the cryptocurrency space, where time is money, and a late transaction can mean the difference between a profit and loss. In Square’s own words:
“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.”
Cash App’s Bitcoin page also contains a handy history of the cryptocurrency, as well as an explanation of what Bitcoin is and how it’s gathered via mining. According to Jack’s Tweet, the Bitcoin buying and selling should be available to most Cash App users now, so if you’re excited to get trading BTC, make sure your Cash App is updated and you should be good to go. As Square itself points out, like most investments Bitcoin is not without its risks, and users should never invest more than they’re prepared to lose. Square has put together a handy FAQ and post on risks for those who want to make sure they’re forewarned.
Bitcoin has had a troublesome few months recently. After prices hit record highs back in December, prices began to drop in January, and many insist that the bubble is bursting, and Bitcoin will decline and never recover to its previous heights. Still, opinion is heavily divided, and if you see a future for your finances in Bitcoin, then Cash App makes it easier than ever to get involved.