Dec 18, 2021 - Economy

Retail trading apps turn on crypto gifting in holiday push

Illustration of a crypto coin with a bow.

Illustration: Aïda Amer/Axios

Retail trading apps are using the holidays to recruit more crypto adopters.

Driving the news: Robinhood said this week it would launch a crypto gifting feature just ahead of Christmas. 

  • Cash App, owned by Block (formerly Square), updated one of its similar features this week.

Why it matters: Crypto trading makes up a big part of their business. Gifting crypto could lure newcomers, as TechCrunch notes.

How it works: Robinhood users “can send as little as $1 worth of one of seven cryptocurrencies.” Recipients have 14 days to accept gifts through their own account on the app.

  • Cash App lets users send bitcoin using their balance or debit card now.
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