Mobile payments titan Cash App is launching a new feature that will allow users to get paid in the leading crypto asset Bitcoin (BTC).
Speaking at the Bitcoin 2022 conference in Miami, Cash App’s crypto product lead Miles Suter says that the payments app has rolled out its ‘Paid in Bitcoin’ feature, allowing customers to immediately convert their direct deposits into the top crypto asset by market cap for free.
“To make Bitcoin more relatable, we’re starting to roll out ‘Paid in Bitcoin,’ a simple and completely free way to auto-invest your paycheck into Bitcoin…
We already have a significant number of customers receiving recurring paychecks into Cash App.
With two taps, they’re now going to be able to select a percentage between one and a hundred [and] the fiat coming through the ACH rails will be converted into beautiful BTC for free.”
Suter goes on to name two other crypto-related features Cash App will deploy. First, he mentions Bitcoin Roundups, which lets users with specific debit cards linked to the program round up payments to the nearest dollar and purchase BTC with the difference.
“Bitcoin Roundups is an easy and completely free way to auto-invest your spare change from your Cash Card transactions into Bitcoin. All you need to do is have a free customizable Card Card, enable Roundups, and select Bitcoin. That’s it.”
Next, Suter references Lightning Network, BTC’s layer-2 payments protocol. He says that consumers will now be able to send Bitcoin through Lighting Network, which became compatible with Cash App in January when it allowed users to receive BTC.
Bitcoin is changing hands at $43,047 at time of writing.
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