With new products by PayPal and Revolut, cryptocurrency is making its way into mainstream
- Square’s Cash App, Revolut, and PayPal are facilitating cryptocurrency use.
- Banks remain skeptical about security concerns.
Cryptocurrency has been getting a lot of attention this year. Bitcoin is now valued at $14,000 — doubling since the start of the year. And US investors are taking notice, with 55% reporting an interest in bitcoin. That’s 19% more than last year, according to a study by Grayscale Investments and 8 Acre Perspective.
Easier methods to trade, buy, and sell cryptocurrency could be behind the change. With major apps like Revolut and Square making crypto more accessible, more users are taking interest.
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One of the most popular tools for using crypto is Square’s Cash App. The app is designed to make it easy for anyone to participate in the cryptocurrency market. Through a couple of clicks, users can buy, sell, and hold bitcoin. Users are increasingly using Cash App to trade bitcoin. The app’s bitcoin revenue in Q2 brought in $875 million, a 600% increase compared to last year.
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