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Image credit: Rob LeFebvre/Engadget

Square Cash now allows anyone to buy and sell bitcoin

The risks are the same as ever, but it's a simple way to manage the cryptocurrency.
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Rob LeFebvre/Engadget

Square's Cash App has been helping people send and receive money without fees for a while now. Originally an money-by-email service, Cash App has grown into a more robust offering with its own prepaid Visa card. The company has been testing buying and selling Bitcoin via the app, as well, and has finally made it official.

The feature is available to most everyone who uses Cash App, unless they're in New York, Georgia, Hawaii or Wyoming. The company promises that it's working on it. This does seem to be a pretty simple way to get into owning Bitcoin, though Square warns that the cryptocurrency's price is "volatile and unpredictable." While the company won't add additional fees when you purchase Bitcoin through its app, it calculates the price when buying based on a quoted mid-market price and margin, which could be different when selling. You'll also be limited to up to $10,000 worth of Bitcoin per week, so be sure to plan accordingly.

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