Where We've Been
Many of us are aware of Square's (the parent company of Cash App) incorporation of Bitcoin into its platform. The ability to buy and sell Bitcoin instantly using Cash App was a game-changer that launched Bitcoin's popularity into the stratosphere. Also, the ability to send Bitcoin from and recieve Bitcoin to a personal address within the app changed the way I invest. No longer would I wait 3-5 business days for platforms and my bank to get on the same page and credit me with my assets.
Square didn't stop with Bitcoin. Soon after Bitcoin's incorporation into the platform, Sqaure announced that stocks and ETFs would also be traded during market times using the app. Now Cash App supports investing of over 1600 stocks. Its user-friendly interface and low transaction fees have changed the game of investing.
So, What's New?
I was pleasantly surprised when I opened my Cash App today. I was greeted with a popup announcing a new feature that I have felt was due at any time. Users can now choose to round up purchases that are made using their Cash card. The spare change is invested into either Bitcoin or a stock of the user's choosing. If you are unaware, a Cash App Cash Card is a debit card issued by the platform that accesses a bank account with Sutton Bank. This bank account is where funds are held by users.
There are several perks of banking through Cash App using your Cash Card. For instance, using the app a user can apply certain boosts before purchases that will give them a certain percent off of their purchase. Also you can recieve up to 15% back in Bitcoin on some purchases. Furthermore, setting up a direct deposit to your Cash App account unlocks a Cash App Card Boost of $100 off a single purchase. This is a one-time use Boost, but its one that feels extremely rewarding to be granted.
Now investors can seamlessly make small investments using the Cash Card round-up feature. Select and change the destination of your round ups instantly and easily using the app.
What's A Round-Up?
Just in case anyone reading is unaware of what I am referring to while mentioning roundups, example is as thus follows.
Say I have set my round-up destination to be stock of Sqaure, Inc. Then I go to the store and buy a 12 pack of Coors for $13.48. The Cash App platform then rounds my purchase up to $14 even, and invests the 52 cents difference into Sqaure, Inc. stock automatically.
These types of investments have been utilized by companies such as Acorns and Robinhood for years. The incorporation of this feature into Cash App is another small step in Bitcoin's incorporation into the demands of society's financial future.