January 21st, 2019
Bitcoin of America has been on an expansion mission across the United States, opening up Bitcoin ATMs in several cities and states. This is in line with its vision of penetrating the cryptocurrency market at all instances including selling and buying. The ambitious infrastructural roll out has received positive feedback which informed Bitcoin of America’s acceptance of CashApp to buy and sell Bitcoin.
Bitcoin of Americais now accepting CashApp transactions which will enable easy buying and selling of Bitcoin. CashApp has been accepting Bitcoin Transactions since early January although the roll out was done in selected states at a time. Currently, it appears the company is finally ready to open up the service to the rest of the country.
Buy and sell BTC in all 50 states using Cash App
Since Bitcoin of Americahas decided to start accepted payments via CashApp, the Bitcoin buying process will see improved efficiency and ease of Bitcoin trade in an age of growing fraud and online scams.
Regulatory Red Tape
When the CashApp was first introduced, it was faced with regulatory bans in some states. There were holdups and local restrictions in states such as New York, Georgia, Hawaii and Wyoming. However, the issues were however ironed out after an application was made for a ‘Bit License’. Obtaining the go ahead means that regulatory red tapes are out of the way. The changes in policy that have allowed CashApp to roll out its Bitcoin buying feature in Georgia and Hawaii still remain unclear.
Another enabling provision made in the said restrictive laws was the removal of the double reserve requirement for companies involved in cryptocurrencies.
Not a Wallet Service
CashApp has already curved itself a niche as one of the fastest ways to send and receive payments from your family and friends who also use the app. Adding cryptocurrency- Bitcoin specifically- to the mix further increases the users’ payment options when it comes to settling that lunch bill because you left your wallet at home.
Despite the promising foray into the cryptocurrency world, CashApp suffers a setback. It is in itself not a dedicated cryptocurrency wallet app, so it should not be considered a safe long term storage solution for your Bitcoin. In the meantime it might be a great way to pay small debts with friends, but it’s probably a good idea to cash out as soon as you receive a paymentto avoid any nasty drops in value. In any case, it’s good to hear that a company is adopting – and not dropping– Bitcoin payments for a change.
Bitcoin of America is constantly trying to evolve and find better payment solutions for its customers. It recognizes the need for more efficient, fast transactions and provides innovating options for consumers. From the outlook, it seems accepting more payment solutions will have a long-term advantage for Bitcoin and cryptocurrencies.
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