The measure is only available to users of Cash cash is the most liquid form of money: physical coins and banknotes in the most narrow sense of the term. Card, the card linked to Cash App de Block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain. issued by third parties, and aims to bring users closer to the management of other assets such as Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. safely.
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- Users of Cash App will be able to round up payments and receive the change change — a concept relevant to cryptocurrencies that use the UTXO model — is the number of coins sent back to a user after they use their unspent outputs to initiate a transaction. in Bitcoin or shares.
- Only available to users of Cash Card.
- The measure is part of the plans of Block to create products based on Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. and digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currencies.
The payments company run by Jack Dorsey, Block, announces that its application Cash App will now allow users to round off amounts for payments and receive the corresponding change in Bitcoin or other financial products, this is only through Cash Card.
Change will be received in Bitcoin, shares or other products
This was indicated by the team of Block through their official accounts, where he revealed that this new feature for Cash App via Cash Card, better known as Round Ups, will allow users to round figures when making payments. The merchant will receive the exact amount for the payment of their product or service, but the remaining change can be received back in Bitcoin, shares or ETF’s.
Introducing Round Ups.
Opt in to round each of your Cash Card purchases up to the nearest dollar. Use the spare change to automatically invest investing is when you put money in a financial scheme with the intent of making a gain. in stock, ETFs, or bitcoin when you spend.
It’s a very easy way to invest over time.
Here’s how it looks in real life → pic.twitter.com/rUSkp6P6UR
— Cash App (@CashApp) June 29, 2022
The operation of Round Ups can be exemplified as follows: A person wishes to pay with Cash Card a bill at a coffee shop for $9.5. At the time of payment, the application rounds up the total value to about $10. If the user accepts, the merchant will receive the $9.5 for their products and the remaining $0.5 will be spent on BTC or any of the above products.
Keep in mind that this modality will only be available at least initially for payments with Cash Card The debit card issued by its banking partners. At the moment it is not known whether this modality will be extended to all those who only make use ofCash App.
Bringing users closer to Bitcoin and other assets
This new feature launched by Block para Cash App y Cash Card was originally announced by Dorsey during the event. Bitcoin 2022, where he indicated that the payment application could convert his paychecks to Bitcoin as well as other functions, such as integrating the product with Lightning Network.
Regarding Round Ups, the service aims to bring the users of the Cash App and its products to a range of other financial assets, working with fairly small numbers that do not pose risks to those making payments.
Let us keep in mind that Block has much broader plans for the sector. Web3, although the most ambitious is the creation of a decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. and a physical wallet, all focused on a standard that they themselves have calledWeb5.
- Block will continue to focus on providing more and more support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. for Bitcoin and its ecosystem, says Jack Dorsey
- Jack Dorsey is building an “extra decentralized” Web5 based on Bitcoin
- Jack Dorsey praises Musk for buying Twitter: “Elon is the singular solution I trust.”
Source: Block , Twitter ,CryptoBriefing
Version by Angel Di Matteo / DiarioBitcoin
Imagen de Unsplash
