Twitter service owned by Jack Dorsey, Twitter's CEO, will now allow its users to purchase Bitcoin automatically. With Dorsey's approval, the Cash App now supports the Bitcoin automatic purchase feature at regular intervals. Users can use this feature to minimize the impact of market fluctuations.
Square protects Bitcoin buyers from "market fluctuations."
Square now has a bitcoin-based currency, and has introduced this feature, called Auto Invest, to buy stocks. The company's website explains the new feature: "If you think for a long time, you don't need a timeless schedule." The following is the text:
Auto Invest, a term used to describe the regular purchase of small amounts over time, allows you to activate it with the "dollar-cost averaging" strategy and stop trading. With the growing trend of purchases, you can minimize the impact of market fluctuations.
New Bitcoin flows to Square
Using the "average dollar cost" strategy is a clear move to turn Cash App users into bitcoin savers. According to a DCA calculator, the weekly purchase of $ 10 has been about 65 percent profitable over the past three years, from $ 1,570 to $ 2,588
Thanks to cryptocurrencies, the use of cryptocurrencies has grown mushroomed. According to media reports, the highest revenue of $ 528 million in the first quarter of Square came from Bitcoin. Square, along with Grayscale Investment, has consumed more than half of the bitcoin mined in the first quarter. Auto Invest currently allows an account holder to buy on a daily, weekly or monthly basis for at least $ 10. Criteria can be changed to satoshi instead of bitcoin to make it easier to manage smaller accounts.