It’s official: Cash App has enabled Bitcoin payments with Lightning Network.
What Cash App does
Cash App is a mobile payments app, developed by Block, and formerly known as Square Cash.
It has been around since 2013 and has over 70 million active users annually.
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Block is the company founded in 2009 by Jack Dorsey under the name Square, also famous for other services such as Tidal, Afterpay and Weebly. It has more than 5,400 employees and a turnover of almost ten billion dollars.
Recently, the company has clearly made a bold move to embrace Bitcoin, so much so that Dorsey resigned as CEO of Twitter in order to devote his full time to it.
So it’s no surprise that their mobile payments app has integrated BTC payments via Lightning Network (LN).
Paying with Lightning Network
In fact, payments on LN are just as fast as those using classic gateways for fiat currency payments, but they also turn out to be cheaper because of the very low commission costs.
As the official tweet launching the feature says, it’s the fastest and cheapest way to pay anyone in Bitcoin.
With Lightning Network Cash App aims at the masses
Unfortunately, Cash App is not available worldwide, and it is necessary to watch out for fake apps that turn out to be available where the official one does not.
The fact is that Cash App has all the licenses to be able to operate in certain territories, but has not yet applied for and obtained licenses for some territories where there was evidently not enough demand. Thanks to this latest addition, however, demand could literally blossom even in different parts of the world where it is currently not yet available.
Thanks to this app, Dorsey’s company aims to bring BTC payments to the masses, as it was previously born to be used for normal mobile payments in dollars, and is therefore also used by many people who do not know about Bitcoin.
The use of LN makes it possible to actually use BTC on a daily basis, as is happening in El Salvador for example.
A video recently posted on Twitter shows how easy and fast a Bitcoin payment is using LN:
To celebrate the ⚡️ launch today… Here is a video of the first ever Lightning payment on @CashApp.
— Michael ₿. Rihani 🇺🇸⚡️🇱🇧 (@MichaelRihani) February 8, 2022