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Cash App users can now receive salary in Bitcoin

 


At Bitcoin 2022 in Miami on Thursday, Cash App announced a new feature for US customers. This allows them to automatically invest part of their paychecks in Bitcoin ( BTC ). Users can use the "Paid in Bitcoin" feature for free via the Visa Cash card with the mobile payment service operated by the company Block, formerly Square.


Cash App bitcoin product lead Miles Suter, who made the announcement on Thursday, explained that you can set a percentage between 1 percent and 100 percent and automatically convert deposits into bitcoin. Additionally, Cash Card transactions made with a Visa debit card connected to the Cash App can now be rounded up to the nearest dollar and converted from that cent amount to BTC.


Recently Cash App announced that the network is now compatible with Bitcoin Lightning Network . US users of the Cash App can now make faster BTC transactions. Lightning Labs, the lead developer of the Lightning Network, raised over $70 million in a Series B funding round this week and plans to use that money to work on faster and cheaper bitcoin and stablecoin transactions.


Following this announcement at the Bitcoin Conference, tennis player Serena Williams and NFL players Odell Beckham Jr. and Aaron Rodgers sat down with Suter to discuss Bitcoin. Rodgers and Beckham Jr., like many other athletes , partnered with Cash App over the past year and maintain a portion of their salary in Bitcoin as part of the partnership.

Williams, who has founded her own venture capital firm called Serena Ventures, announced on stage that she is working with Cash App to boost Bitcoin adoption. She explained that she has been investing in Bitcoin for nine years and that, in terms of education about Web3, "there is still so much to do" to "improve access and opportunities to invest."

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