Block, formerly Square, will allow users to use the Cash App to give away BTC during the holidays

Digital payment company Block (formerly Square) announced that Cash App users will be able to give away cryptocurrency and stocks to friends and family during the holidays.

According to a tweet on Tuesday, Cash App Say Its users—about 40 million monthly active users—can send as little as $1 in Bitcoin (Bitcoin) Or stock as a gift, just like they send cash. This payment company, along with other companies including PayPal and Coinbase, allows users to send cryptocurrency as a payment or gift to a third party.

Cointelegraph reported on December 7 that a study by loan company BlockFi showed that many Americans Willing to accept cryptocurrency Including Bitcoin, Ethereum (Ethereum) And Dogecoin (dog) As a gift for this holiday. However, the same survey showed that most respondents did not have the skills to transfer cryptocurrency.Many critics believe that sending BTC to newbies is part of the reason So many coins are lost Since 2009.

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Other projects accept cryptocurrency donations during the holidays to help those in need.Fintech providers have no bank accounts Announced earlier this month It will provide cryptocurrency donations to Toys for Tots, a program run by the US Marine Corps to collect toys for distribution to disadvantaged children. In addition, platforms like Giving Block allow non-profit organizations and charities to accept crypto donations.