Mobile Payment Company Square Launches Bitcoin Purchase and Sale Option in the Application

Jack Dorsey, the CEO of the Square Payments Processing Company, on Wednesday, revealed that users of the company's cash application can now buy and sell bitcoin. Back in November, the bitcoin functionality of Square Cash App was only available to select individuals for experimentation. Now, most users of the application can access the ability to buy and sell the digital currency using the platform.

The aggregator of commercial services and the mobile payment company has announced that its bitcoin function is now available to most of its Cash App users. The news follows the company's tests last November, when they allowed selected users use the function that allows individuals to buy BTC. In addition, the CEO of the firm, Jack Dorsey, promoted the new application with a colorful publication on the blog about bitcoin, and is the creator Satoshi Nakamoto. The story that describes innovative technology concludes by saying:

"That's a lot to imagine, is not it? However, one thing is clear: Satoshi's vision is having an impact on everyone."

Square says that the cash application offers users the ability to send and receive BTC between family and friends. The company also emphasizes that bitcoin prices can be "volatile and unpredictable" and asks its users to make "wise financial decisions."

"We have simplified the purchase and sale of BTC directly from your cash application balance: unlike other applications, most of our purchases and sales are made in seconds, and you can even spend your earnings on a free Visa debit card." Explains Square's announcement .

Jack Dorsey, who also runs the Twitter company, explains to his followers on the social media platform that the instant purchase of BTC is now available.

"And selling, if you do not want 'hodl' - Bitcoin is now available to most Cash App customers," explains Dorsey.

"We support Bitcoin because we see it as a long-term path to greater financial access for all: this is a small step."

At this time, there are only four states that can not access bitcoin services in the Square cash application, which includes Hawaii, New York, Wyoming and Georgia. Due to the tougher cryptocurrency regulations, those states will not see the bitcoin function available at the moment.