American gamblers can soon use Square's Cash App to buy bitcoin

Discussion in 'General Bitcoin Gambling Discussion' started by Humble Servant, Nov 15, 2017.

  1. Humble Servant

    Humble Servant Active Member Staff Member

    Online poker players and sports bettors have something to rejoice about this morning. The popular Cash App (formerly Square Cash) that was setup by Square and Twitter CEO Jack Dorsey is rolling out a buy/sell bitcoin feature into their existing Cash App. The bad news is that initially the app will only allow you to buy, sell and hold bitcoin and you won't be able to send your bitcoin out of the wallet just yet, although we're sure that this functionality will be added very shortly.

    What makes this news so important is that this is the first mainstream financial app to add support for any crypto currency. For example, Cash App is the number 1 app on the iTunes App Store in the Finance section...

    Over 3 million already use the CashApp to send money to friends and family and they will now be able to use the same app to purchase bitcoin with their credit cards.

    Here is a quick video demonstration which shows just how easy it will be to buy and sell BTC via the Cash App.

    A Cash App spokesman released the following statement "We’re always listening to our customers and we’ve found that they are interested in using the Cash App to buy Bitcoin. We're exploring how Square can make this experience faster and easier, and have rolled out this feature to a small number of Cash App customers. We believe cryptocurrency can greatly impact the ability of individuals to participate in the global financial system and we're excited to learn more here.”
  2. Freddy

    Freddy Member

    here's another cool video demo of someone buying bitcoin using the cashapp in just 30 seconds. hopefully they activate withdrawals soon because this is a game changer....

  3. Terry

    Terry Member

    have they given any timeline on when they will enable withdrawals. buying/selling is great for anyone that wants to speculate but some of us actually would like to be able to withdraw btc to use in the real world.
  4. Humble Servant

    Humble Servant Active Member Staff Member

    My guess is they will allow their users to withdraw their BTC sometime in early 2018 but that just a guess. I wouldn't be surprised if they partnered with a company like BitGo for their wallets.
  5. Umair

    Umair Member

    i think the cash-app now also allows you to withdraw your bitcoin from the app into a wallet of your choice. they've added this nice overview of what bitcoin is also
  6. Humble Servant

    Humble Servant Active Member Staff Member

    Anyone using the Cash App to buy bitcoin for sports betting or any form of gambling need to be aware that they will shut your account if they figure out that your transactions are going to an online bookie, poker room or casino. You should never send BTC directly from the Cash App to a gambling website, instead send it to a wallet like BRD or Samurai first and then send it to your betting site. This poor guy had his Cash App account closed because he was using the crypto for gambling.
  7. NKOTB

    NKOTB Member

    Skrill have recently added support for bitcoin, ether and litecoin. Surely PayPal will add crypto support soon.
  8. Lance

    Lance Member

    does anyone know if the cashapp is available in australia?
  9. Humble Servant

    Humble Servant Active Member Staff Member

    No, I think the Cash App is only available in the USA at present.
  10. Humble Servant

    Humble Servant Active Member Staff Member

  11. PokerGod

    PokerGod Member

    why doesn't the cashapp add support for ethereum and litecoin also?
  12. Lance

    Lance Member

    Because Jack Dorsey is a bitcoin maximalist who doesn't go near shitcoins. I really wish CashApp would launch in Australia.
  13. Doyle

    Doyle Member

    I've heard reports of people having the bitcoin facility shutdown when they fake frequent purchases. I think they don't want people trading on their platform. It's more for investment. My advice is to buy big and rarely rather than buying small amounts regularly.
  14. Humble Servant

    Humble Servant Active Member Staff Member

    I wonder what percentage of these bitcoin purchases were gambling related? I'd imagine at least 50%.


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