Cash App Introduces Paid in Bitcoin, BTC Roundup and Lightning Network Services

At the Bitcoin 2022 league successful Miami, Block, Inc., formerly Square, Inc., announced 3 caller bitcoin services for the company’s mobile outgo platform. The mobile outgo level Cash App volition diagnostic a “paid successful bitcoin” work that allows users to auto-invest their enactment wage into bitcoin.

Cash App Adds 3 New Bitcoin Services

Jack Dorsey’s Block announced successful Miami that the Cash App mobile outgo strategy volition connection 3 caller features. The San Francisco institution explained that the archetypal diagnostic volition beryllium a “paid successful bitcoin” work that allows radical to person their wage into bitcoin (BTC).

Cash App users volition beryllium capable to person 1% oregon up to 100% of their payroll into the starring crypto asset. The Block, which besides manages Spiral, TIDAL, and TBD, explained astatine the league that the squad has been moving connected the thought since 2019.

The adjacent work the institution revealed was a bitcoin round-up work which fundamentally allows Cash App users to circular up spare alteration from purchases into bitcoin (BTC). Essentially, the user’s Cash App paper transactions volition circular up the purchases and automatically transportation the alteration to the user’s BTC wallet.

Block is not the archetypal steadfast to present paid successful bitcoin services oregon BTC round-up services, arsenic the concepts person been astir for rather immoderate time. For instance, radical tin leverage Coinbase oregon Bitwage to beryllium paid successful crypto arsenic well, and Bundil and Roundlyx connection BTC round-up products.

The 3rd diagnostic Cash App announced astatine the Miami bitcoin league was “Lightning Network (LN) Receives” with a seamless Bitcoin UX. The Bitcoin UX volition leverage unified QR codes that utilize the Bitcoin Improvement Proposal BIP 21.

The QR codification tin harvester some Lightning Network invoices and onchain accusation to marque the process easier for Cash App users. Cash App already allowed LN payments since its instauration successful January, but present users tin leverage unified QR person codes successful bid to judge LN payments directly. The determination by Cash App follows the Atlanta-based outgo processor Bitpay announcing LN enactment connected Wednesday.

Recent Breach Leaves 8 Million Cash App Customers Exposed

The Cash App quality follows the firm’s issues with a erstwhile worker that caused a massive information breach. Reports amusement that 8 cardinal Cash App users were affected arsenic the erstwhile worker was accused of downloading accusation tied to customers successful December.

The study from the Block claims that the download took spot aft the worker near the company. While the downloaded information does not incorporate slope info, usernames, passwords, oregon societal information numbers, the accusation did incorporate the users’ brokerage relationship numbers and afloat names.

What bash you deliberation astir the 3 bitcoin products Cash App is launching? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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