HomeInvestmentsCash App Introduces Investing Spare Change in Stocks or Bitcoin Option

Cash App Introduces Investing Spare Change in Stocks or Bitcoin Option

Mobile payment system Cash App started offering an intriguing new option for its users. Block Inc., the parent company of Cash App, just announced a new feature that will allow customers to give up on their spare change during purchases and automatically invest them in stocks or Bitcoin.

When turned on, the option titled “Round Up,” will round up the purchase to the “nearest dollar.” The difference between the cost and the “round up” will be invested in the way user previously chose. For example, if you are buying an item that costs $4.55, the Cash App will charge you $5 and put $0.45 towards your preferred investment.

“At Cash App, we’re focused on making our financial products easy to use and accessible to everyone,” Cash App’s Ryan Budd told MarketWatch.

At the moment, only Cash App customers who are using the Cash Card debit will get the take advantage of the new feature. Block Inc. didn’t detail whether “Round Up” is planned for mobile app users who don’t own Cash Card.

Cash App initially started out as a service for transferring money between users via mobile phones. Over the years, the app evolved and added a number of other features, including support for stock and Bitcoin trading.

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