Square: Cashing in on Bitcoin

Square, an app you might know from your favorite coffee shop, is known for sending and receiving money. Now, the Square Cash app is exploring cryptocurrency and the buying and selling of bitcoin. The app is in a beta trial phase and only available to a small number of users. The basic interface lets users with access swipe right from the Cash Card page to access the new bitcoin functionality. Here, users can see a balance, a performance graph, and buy/sell options. From what users are saying, it seems that Square is using pooled wallets to hold user funds, similar to the way Coinbase works. Some parts of the test are still unclear, including what fee structures might be, or if there will be daily buying and selling limits. To learn more about Square Cash’s new test, or to read their official comment, visit here.