Retail trading apps turn on crypto gifting in holiday push
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.