Bitcoin buying via Cash App has gone through the roof

Discussion in 'General Bitcoin Gambling Discussion' started by Lance, Aug 5, 2020.

  1. Lance

    Lance Member

    One of the reasons that I really like buying bitcoin using the Square Cash App is that the app only offers Bitcoin (BTC). I find sites like Coinbase confusing and I no longer recommend them because it can be quite confusing to newbies when they login and are confronted with with 20+ different digital assets for sale. I know more than one person who has bought Bitcoin Cash by accident or XRP Ripple because it is cheaper. The great thing about Cash App is that they only offer Bitcoin and the user interface is super easy to use as a result. There's no need to worry that your uncle or best mate are going to invest their life savings in a shitcoin.

    Anyway, it's no surprise that more and more people are buying bitcoin in the United States using the CashApp. They just announced their Quarter 2 2020. In Q2 they sold $875 million worth of bitcoin compared to $306 million in Q1 2020 and $120 million in Q2 2019. That is phenomenal growth. Just look as these numbers....

  2. PokerGod

    PokerGod Member

    Cash App was my favorite way to buy bitcoin for gambling but one time I transferred directly from my Cash App wallet to Nitrogen Sports and they shut my account after that. I knew exchanges like Coinbase and Kraken shut accounts but I didn't think Cash App were anti-gambling also. Anyway, if you are going to buy or sell using the app, be sure to use a wallet like BRD or Blockstream Green to withdraw to.
  3. Gooch

    Gooch Member

    Unfortunately, Cash App does not provide specific data on the total amount of Bitcoin sold per year through its platform. However, they reported in its Q4 2021 shareholder letter that its total Bitcoin revenue for the quarter was $3.31 billion, which represents a significant increase from previous quarters. I'm sure a lot of those purchases were sent straight to bitcoin sportsbooks and poker rooms in the United States.

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