We have seen that there are a lot of platforms being made almost every year when it is regarding making payments such as sending and receiving money or even donating money.
However, we have seen that all those platforms are able to send and receive traditional money but not cryptocurrencies such as bitcoin and others. But those of who have not known about Square which is a company also founded by the Twitter CEO Jack Dorsey are missing out on things.
As we all know, Jack Dorsey is a big supporter of cryptocurrency including Bitcoin and his Square platform allows you to make transactions with them. Now, Square has added a new functionality wherein you will be able to make automatic payments with the help of cryptocurrencies.
Jack Dorsey announced this on his handle saying that “You can now do automatic recurring purchases of #bitcoin in @CashApp. Daily, weekly, or every 2 weeks. And change the display to sats”
CashApp is a company run by Dorsey under the Square platform which is a great app to send and receive money and they support micropayments of less than a dollar as well.
Now, you would ask what is the reason why you would want to make daily or weekly transactions with cryptocurrency. The reason as stated by the company is that “By spreading purchases out over time, you may minimize the impact of market swings,”
It has been seen that people are hesitant to invest their money in cryptocurrency in a large amount due to the fear of losing their money since the virtual currency is volatile and it may jump to a large extent but might go down as well. This is the reason why CashApp now allows you to invest a minimum of $10 automatically on set intervals so that you don’t have to invest all at once.