Block, previously Square, will let users to send BTC as holiday gifts via Cash App.

Block, formerly known as Square, has confirmed that Cash App users will be able to give bitcoin and stock to friends and family this Christmas season.

Cash App stated in a Tuesday tweet that its customers — around 40 million active monthly — could give as low as $1 in Bitcoin (BTC) or stock as a gift in the same manner they had been sending cash. The payment company follows PayPal and Coinbase in letting customers to transmit cryptocurrency as payments or gifts to third parties.

According to a poll conducted by loan startup BlockFi, many Americans would be ready to receive cryptocurrencies such as Bitcoin (BTC), Ether (ETH), and Dogecoin (DOGE) as gifts this Christmas season. However, the same study found that the majority of respondents lacked the necessary abilities to transfer cryptocurrency. Many critics have pointed to the fact that transferring BTC to newcomers is one of the reasons why so many coins have been lost since 2009.

Other projects are collecting cryptocurrency donations to aid people in need over the holidays. Unbanked, a fintech company, revealed earlier this month that it will accept crypto donations for Presents for Tots, a program sponsored by the United States Marine Corps that collects toys to donate to underprivileged children. Furthermore, platforms such as the Giving Block enable non-profit groups and charities to receive cryptocurrency payments.

Patrick

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