Digital payments firm Block that was previously known as Square has said that Cash App users can gift their friends and family both stock and crypto over this holiday season. Based on a December 14 tweet, Cash App said that its users can send even $1 in Bitcoin (BTC) or stock as a gift in the same manner that they had been sending cash.
Cash App has around 40 million active monthly users and it now joins others like Coinbase and PayPal in enabling users to send crypto payments or gifts to third parties. Cash App stated:
“It’s as easy as sending cash, and you don’t need to own stock or Bitcoin to gift it.”
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
Based on December 7 reports about a study done by BlockFi lending company, many Americans would be ready to accept cryptos like Ether (ETH), Bitcoin (BTC), and Dogecoin (DOGE) as gifts this Christmas season.
Nevertheless, the same survey said that most of the respondents lacked the needed skills to transfer crypto. Most of the critics have said that sending Bitcoin to newbies is the reason why many coins have been lost since 2009.
The other projects are accepting donations in cryptocurrency over the holiday have said that they are doing it to help those in need. Fintech provider Unbanked said earlier this month that it would be supporting crypto donations for Toys for Tots. Toys for Tots is a program that is operated by the US Marine Corps.
This program collects toys to distribute to disadvantaged children. Moreover, platforms like the Giving Block enable non-profit organizations and charities to accept crypto donations.