Using square to buy bitcoin

Read more about Levine Bradley Keoun Dec 20, Mt Gox. Image via CoinDesk archives.

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We are committed to researching, testing, and recommending the best products. We may receive commissions from purchases made after visiting links within our content. Learn more about our review process. The cryptocurrency markets have calmed down a bit since that record high, but many Bitcoin evangelists still claim Bitcoin to be the currency of the future. Follow along to learn more about how Bitcoin works and the best places to buy Bitcoin. First of all, need some background information about what Bitcoin is? It’s a digital currency used mostly for online purchases and as an investment, albeit a very risky one.

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Digital payments company Square is rolling out the ability to buy and sell bitcoin to more users of its popular Cash App. The company announced today that, following news last year that it was testing the feature with a limited number of users, the option is being expanded further. That said, users in the U. The app allows users to send payments to their friends and family, though notably, they may not be able to share funds to generic contacts on their phones. The company began trialing the bitcoin buy option last November, letting select users buy or sell bitcoin through their accounts. This is a small step.

Last month it was Kodakand now Square the mobile payments company created by Twitter co-founder Jack Dorsey is jumping on the Bitcoin bandwagon. You can do that by adding money directly into your accountor just wait until someone sends you money with Cash and then use that to buy Bitcoin. Then swipe left and you should see the Bitcoin symbol. Start the same way by opening the app, selecting Cash Card, and swiping left to the Bitcoin page. You just sold some Bitcoin.

Square Cash notes that butcoin prices are based on the wider cryptocurrency market, which can change pretty rapidly over the course of a day or even a few hours. So think carefully using square to buy bitcoin you sell or buy.

If you plan on holding onto your Bitcoin for a while you may want to keep it somewhere safer than your Square Cash account.

Thankfully, the app makes it easy to send your digital currency to another wallet. To start, open the app and hit the icon in the top by corner. Then scroll over to Funds and select Bitcoin. Finally, hit Confirm again to finish, though it could be a few hours before the transfer is processed.

The A. Jacob Kleinman. Filed to: Bitcoin. Share This Story. Get our newsletter Subscribe.

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The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. One screenshot of a purchase page dated Nov. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. For smaller BTC purchases, the 1. If so, the fee will be listed on the trade confirmation before you complete a transaction. Mt Gox. Then scroll over using square to buy bitcoin Funds and select Bitcoin. You just sold some Bitcoin. Disclosure Read More The leader in blockchain news, CoinDesk is a media outlet bitxoin strives for the highest journalistic standards and vitcoin by a strict set of editorial policies. To start, open the app and hit the icon in the top left corner. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Year in Usnig The app, available on both Android and iOS, now supports deposits for at least some users, according to Twitter posts by bitcoiners and a check squaer a CoinDesk reporter of his own Square bitcion Tuesday. Square first began allowing select Cash App users to purchase and sell bitcoin in Novemberannouncing a few months later that it would roll that feature out to all users. So think carefully before you sell or buy. Jacob Kleinman.