Block announced that Cash App users can now send as little as $1 in Bitcoin as a gift to friends and family this holiday season
Cash App users can send $1 in BTC as a gift
Block, formerly known as Square, has announced that Cash App users will be able to gift bitcoin and stock to friends and family this holiday season.
In a Tuesday tweet, the Cash App stated that its customers—around 40 million active monthly—could give as little as $1 in Bitcoin (BTC) or stock as a gift in the same manner they had been sending cash.
The payment company follows PayPal and Coinbase in letting customers send cryptocurrency as payments or gifts to third parties.
With Cash App, you can now send as little as $1 in stock or bitcoin. It’s as easy as sending cash, and you don’t need to own stock or bitcoin to gift it. So this holiday season, forget the scented candles or novelty beach towel, and help your cousin start investing. pic.twitter.com/HS0CqusiLS— Cash App (@CashApp) December 14, 2021
According to a poll conducted by loan startup BlockFi, many Americans would be ready to accept cryptocurrencies such as Bitcoin (BTC), Ether (ETH), and Dogecoin (DOGE) as gifts this Christmas season.
However, the same study found that the majority of respondents lacked the necessary abilities to transfer cryptocurrency. Many critics have pointed to the fact that transferring BTC to newcomers is one of the reasons why so many coins have been lost since 2009.
Unbanked now accept crypto donations
Other projects are collecting cryptocurrency donations to aid those in need over the holidays.
Unbanked, a fintech company, revealed earlier this month that it will accept crypto donations for Presents for Tots, a program sponsored by the United States Marine Corps that collects toys to donate to underprivileged children.
Furthermore, platforms such as the Giving Block enable non-profit groups and charities to receive cryptocurrency donations.
