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New Block Cash App Feature called ‘Paid in Bitcoin’ announced at Miami Bitcoin 2022

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During the 2022 Bitcoin conference in Miami the mobile payment service Cash App (developed by Block, Inc.) announced they would allow its customers to receive their paycheck earnings in bitcoin.  The feature is called “Paid in Bitcoin”.

‘Paid in Bitcoin’ would allow customers with Cash Cards to customize an amount, a percentage (1% to 100%) of their direct deposits which would then automatically be invested into the cryptocurrency, effective starting April 7. Cash App integrated with Lightning Network, the decentralized blockchain payment portal in January with plans to further expand to make it even easier for customers to make instant bitcoin transfer via QR codes.

Jack Dorsey, founder of Block (formerly named Square) and a Bitcoin Maximalist spoke at the 2021 conference and said he was committed to making the crypto “the native currency for the internet”. 

In addition to the Cash App feature that will convert your paycheck to bitcoin, the company has more features they plan to roll out in the following weeks including ‘Round Ups’.  Round Ups would enable customers to automatically invest in either bitcoin, stocks or exchange traded funds with the change (rounded to the nearest dollar) from a debit transaction. 

These new roll outs also come on the heels of a major data breach, where more than 8 million Cash App customers may have had their personal information compromised, possibly as a result of a former employee that downloaded internal reports without permission.

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