Cash App is adding support for bitcoin deposits

Bitcoin • June 26, 2019, 10:55AM EDT
UPDATED: June 26, 2019, 11:56AM EDT
The Block

Square’s Cash App is launching bitcoin deposits, CoinDesk writes. The app might have started rolling out the feature prior to full launch as deposits are not yet available for all Cash App users.

Cash App users can purchase and sell bitcoin; they can also make cryptocurrency transfers to other wallets. According to Cash App’s website, the company will enable deposits to third-party wallets “soon.”

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“In the meantime, you can transfer profits from selling bitcoin to any bank account or debit card linked to your Cash App,” it reads.

Square has been putting a lot of money into bitcoin, which has generated $65.5 million in revenue in just the first quarter of 2019. CEO Jack Dorsey has voiced his support for bitcoin, saying it is the best candidate to become a global currency for the internet.

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