Block, the digital payments company formerly known as Square, announced that users of Cash App will be able gift their loved ones both stock and crypto over the holiday season.
Cash App tweeted on Tuesday that its users, which number around 40 million monthly, could send $1 in Bitcoin (BTC), stock or cash as gifts in the same manner as they would have sent cash. This payments company joins Coinbase and PayPal in allowing users crypto to be sent as gifts or payments to third parties.
With Cash App, you can send $1 in bitcoin or stock with as little as $1. It’s as simple as sending money. You don’t even need stock or bitcoin to give it. This holiday season, don’t forget to give your cousin a novelty towel or scented candles. Instead, help him start investing. pic.twitter.com/HS0CqusiLS
— Cash App (@CashApp) December 14, 2021
Cointelegraph reported Dec. 7 that a survey by BlockFi found that many Americans are willing to accept cryptocurrencies such as Bitcoin, Ether (ETH) and Dogecoin(DOGE), as gifts for the holiday season. The survey also revealed that most respondents didn’t have the skills necessary to transfer crypto. Many critics blame sending BTC to novices for the loss of so many coins since 2009.
Similar: How to gift crypto to your loved ones for the holidays? First educate them
Others are accepting crypto donations to help people in need over the holidays. Unbanked, a fintech company, announced that it will allow crypto donations for Toys for Tots. This program is run by the United States Marine Corps and collects toys to give to children in need. Platforms like the Giving Block enable charities and non-profit organizations to accept crypto donations.
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