Digital payment company Block (formerly Square) has announced that Cash App users can now gift cryptocurrencies and stocks to friends and family during the holiday season.
According to a recent tweet, Cash App—with approximately 40 million monthly active users—enables sending as little as $1 worth of Bitcoin or stocks as gifts, mirroring the simplicity of sending cash.
"With Cash App, you can now send stocks or Bitcoin starting at just $1. It’s as easy as sending cash, and you don’t need to own stocks or Bitcoin to give them. So this holiday season, skip the scented candles or novelty beach towels and help your cousins start investing."
— @CashApp (December 14, 2021)
Key Features:
- Low Minimums: Gifts start at $1, making crypto and stock gifting accessible.
- No Ownership Required: Recipients can receive Bitcoin/stocks without holding them beforehand.
- User-Friendly: The process is identical to sending cash via Cash App.
Industry Trends:
Block joins other platforms like PayPal and Coinbase in facilitating crypto gifts. A BlockFi study revealed many Americans are open to receiving cryptocurrencies (e.g., Bitcoin, Ethereum, Dogecoin) as gifts, though technical barriers remain for beginners.
👉 Learn how to start gifting Bitcoin today
Crypto Donations for Good:
Several initiatives leverage crypto for charitable giving:
- Toys for Tots: Unbanked enabled crypto donations for this U.S. Marine Corps-run toy drive.
- The Giving Block: A platform helping nonprofits accept cryptocurrency donations.
FAQs:
Q: Can I gift Bitcoin if I don’t own any?
A: Yes! Cash App lets you purchase and send Bitcoin without holding it in your wallet.
Q: What’s the minimum gift amount?
A: Just $1 for stocks or Bitcoin.
Q: Are crypto gifts taxable?
A: Tax rules vary by jurisdiction. Consult a tax professional for guidance.
Q: How do recipients claim their gift?
A: They’ll receive instructions via Cash App to accept the Bitcoin or stock.
👉 Explore secure crypto gifting options
Note: Always verify wallet addresses and transaction details before sending cryptocurrencies.
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