- Square customers can now use the Cash App to buy and sell bitcoin.
- The feature has been in a limited trial phase since December, but now anyone can use it except customers in New York, Georgia, Hawaii, and Wyoming.
- Square CEO Jack Dorsey called it a "small step" toward "
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Jack Dorsey just opened up bitcoin buying and selling for most Cash App customers in a bid for 'greater financial access for all'
Though the trial phase is over, Cash App users in New York, Georgia, Hawaii and Wyoming don't have access yet.
Though Cash App, a Venmo competitor, is primarily used to settle small payments between friends, the bitcoin feature is only for buying, selling, and holding the cryptocurrency, which has traded around $10,000 for the last couple of weeks.
Cash App's main advantage is that it lets its users buy and sell instantly, since the app already has access to cash balances and bank accounts. Other bitcoin exchanges like Coinbase and Gemini can take days to fully activate accounts because they review identity and bank account information.
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