Block’s Cash App Unveils a New Way of Investing in Bitcoin

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Jack Dorsey’s Block has announced that users of its Cash App will be able to automatically invest their paycheque in bitcoin. 

From today, customers of the mobile payment service can take advantage of a new feature called “Paid in Bitcoin”. 

Cash App’s bitcoin product lead Miles Suter announced the functionality at the Bitcoin 2022 conference in Miami. It was also announced that Odelle Beckham Jr., Serena Williams and Aaron Rodgers will serve as ambassadors to the brand with the aim of bringing sports culture and education to the public, fans, and the Bitcoin community.

The set and forget feature lets users choose anywhere from 1% of their salary to 100% which will be turned into bitcoin at no cost.  

Two other features were also unveiled. The first lets users round up transactions to the nearest dollar and invest the difference in crypto. 

Cash App will also allow customers to send bitcoin to any wallet that is compatible with the Lightning Network, speeding up transactions to as little as 10 minutes.

Block is the new name of Square,  which Jack Dorsey and Jim McKelvey founded in 2009. 

 

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