Digital Block Payment Company, formerly known as Square, has announced that Cash users will be able to donate cryptocurrencies and shares to friends and family during the holidays.
According to a tweet on Tuesday, the Cash app said it could give its customers about $ 40 million a month in Bitcoin (BTC) or bills as a gift. The payment company connects with other people, such as PayPal and Coinbase, to allow users to send cryptocurrencies to third parties as payments or gifts.
Cointelegraph reported on December 7 that a survey by BlockFi lenders showed that many Americans are ready to receive cryptocurrencies such as BTC, Ether (ETH) and Dogecoin (DOGE) as gifts right now. silence. However, a similar study found that the vast majority of respondents did not have access to crypto transfer. Many experts say that one of the reasons for the loss of so many coins since 2009 is the sending of BTC to young people.
Related: Crypto for holidaymakers? Teach them first
Some projects receive donations through cryptocurrencies during the holidays to help those in need. Fintech’s Unbanked supplier announced earlier this month that it would help donate cryptocurrencies to the Toys for Tots program, which collects toys to be distributed to children in need by the US Navy. In addition, platforms such as Giving Block allow nonprofits and charities to receive donations through cryptocurrencies.