Nov 19, · by Matt Thalman In October, news broke that Square (SQ), the payment processing company, had made a $50 million investment into the cryptocurrency Bitcoin. For some market participants, this seems odd. Oct 08, · Square’s Major Bitcoin Buy Square Inc. announced Thursday that it has bought approximately 4, bitcoins at an aggregate purchase price of $50 million. The NYSE-listed company (NYSE: SQ) with a market cap of $81 billion provides software and hardware payments products and small business services. Mar 05, · In November , just as the price of bitcoin was taking off, Square Cash began experimenting with bitcoin trading. Following this, the price of bitcoin increased by 11%. In January , Square gave its users the ability to buy and sell bitcoin within the Cash app.
Square bitcoin tradingSquare buys $50 million in bitcoin as part of larger investment in cryptocurrency - The Verge
If you are using an Apple device, go to the App Store. If you are using an Android device such as a Samsung phone , go to the Play Store. Link your bank account using your debit card. Moreover, Square Cash is catching up with Venmo. According to eMarketer , around However, according to Nomura , Cash has been downloaded more than Venmo. For more high-quality content on bitcoin and other digital currencies, subscribe to the Bitcoin Market Journal newsletter today.
Bitcoin Market Journal is ad-free, so you can trust what you read. Sign up for our newsletter and keep us honest. Its highest fees are 2. You can cash out to dollars when the time is right, but the actual bitcoin is never yours to keep.
Robinhood is the investing app that has always made trades of all kinds free. This is also true for cryptocurrency purchases. That said, buyers should also note that it adds a 0. The company changed its fee structure for bitcoin purchases and sales last year though, according to the company, the change really only made costs more transparent rather than more expensive.
CoinDesk has reached out to Square for a precise structure and will update if we hear back. But one thing that stands out in the screenshot shared by Dorsey is that users now have the option to set up automatic purchases denominated in satoshis which, at 0. In comparison: with more than 2. It might indicate a gradual trend for traders and investors to resort to a smaller unit of account in response to the Bitcoin protocol itself increasing in both size and value. Subscribe to Blockchain Bites , our daily update with the latest stories.