Cash App Empowers Users to Invest in Bitcoin Directly from Paychecks

Bitcoin Meets Your Paycheck

At the recent Bitcoin 2022 conference in Miami, Cash App unveiled an exciting new feature for its U.S. customers that allows them to invest a portion of their direct deposit paychecks into Bitcoin (BTC). This innovative service, launched by Jack Dorsey’s Block, previously known as Square, brings investing to a daily ritual: payday.

A Seamless Investing Experience

Miles Suter, Cash App’s Bitcoin product lead, shared the details during a conference announcement. Users can choose to convert between 1% and 100% of their paychecks into Bitcoin, automated and hassle-free. And yes, adjustments can be made on the fly! So if you suddenly decide you want to throw a cool 80% of your paycheck into crypto instead of that new pair of shoes, go right ahead!

Round It Up: Cash Card Style

As if that wasn’t enough, Cash App offers an additional feature where users can round up their Cash Card transactions to the nearest dollar and invest that spare change directly into Bitcoin. It’s like a piggy bank, but instead of coins you get cryptocurrencies! Who knew that a cup of coffee could lead to a bit more BTC?

Fast Transactions with the Lightning Network

Cash App has expanded its services further by enabling compatibility with the Bitcoin Lightning Network, allowing users to send funds quickly and more cheaply across businesses. Lightning Labs recently raised $70 million to keep this momentum going. With this upgrade, sending Bitcoin becomes as easy as sending a tweet (well, nearly).

Celebrity Backing and Advocacy

The panel at the conference featured renowned figures such as tennis star Serena Williams, NFL’s Odell Beckham Jr., and Aaron Rodgers, discussing the implications of Bitcoin. These athletes, who previously opted to receive part of their salaries in Bitcoin, add a world of credibility to cryptocurrency. Williams, through her firm Serena Ventures, announced plans to collaborate with Cash App to boost Bitcoin adoption and education, emphasizing that “there’s still so much that needs to be done” in this area.