Cash App users will be able to gift bitcoin and stock to friends and family this holiday season, according to Block, formerly known as Square.
In a Tuesday tweet, Cash App said that its 40 million monthly active users may give as little as $1 in Bitcoin (BTC) or shares as a gift in the same way they used to send cash. Customers can transmit cryptocurrency to third parties as payments or gifts through the payments company. Which joins the likes of PayPal and Coinbase.
According to a poll published on Dec. 7, many Americans would be prepared to receive cryptocurrencies. Such as Bitcoin (BTC), Ether (ETH), and Dogecoin (DOGE) as gifts this Christmas season, according to loan startup BlockFi. However, the majority of respondents in the same study said they didn’t know how to transfer cryptocurrency. Many critics blame the loss of so many coins since 2009 on giving BTC to newcomers.
Other charities are collecting cryptocurrency donations to assist those in need over the holidays. Unbanked, a fintech company, revealed earlier this month that it will accept cryptocurrency donations for Presents for Tots, a US Marine Corps program that collects toys for distribution to underprivileged children. Furthermore, sites like the Giving Block enable nonprofits and charities to receive crypto donations.