Block allows app users to withdraw cash to give away BTC for the Christmas holidays

Block will allow Cash app users to give away BTC to other app users over Christmas as we can see more today in our latest Bitcoin news.

The Hard Cash app said in a Twitter account:

“With Cash App you can now deposit from 1 USD in the safe or Bitcoin. It’s as easy as depositing cash and you don’t have to own stocks or bitcoins to give them away. “

The app, owned by Block Digital Payments, formerly known as Sq. was known to have joined other services like Stockpile, Coinbase, PayPal to allow users to donate stocks and crypto to parties on Tuesday, but Dollars App advises that this is the first time these features have been used in a peer – to peer payment app offered. Block the Cash app from also allowing you to split bills and repay their friends by sending them stocks or BTC, not just cash. Previous reports show Income Application generated $ 1.82 billion in BTC revenue and $ 42 million in BTC gross profit in the third quarter of 2021, as both grew 11% year-over-year, respectively encourage investors to invest and own stocks and BTC through the Cash app.

According to reports, Square Inc is a credit card reader company that changed its name to Block Inc to expand its services to blockchain, money transfers, and even music.

Name change of the payment giant co-founded by crypto advocates Jack Dorsey who resigned as CEO of Twitter with effect from December 10th.

As recently reported, Square released its submissions for the first quarter of 2020 on May 6th. These records show revenue for using the Square Income app, which is largely from BTC. As crypto news now shows, even $ 306 million of the $ 528 million in revenue from Funds App in the first quarter of the year came from Bitcoin. Hard Cash Application saw profit increase 115% year over year. In a call to investors on May 6, a member of the Square team stated “effective customer acquisition” which often means good marketing and ease of use.

Square meter has experimented with a lot of crypto-based ideas like we saw them back in November when they published a whitepaper for a decentralized exchange for trading Bitcoin and other assets. Dorsey also said the company is considering building bitcoin miners that will follow hardware wallets in development.