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That said, buyers should also note that it adds a 0. The company changed its fee structure for bitcoin purchases and sales last year though, according to the company, the change really only made costs more transparent rather than more expensive. CoinDesk has reached out to Square for a precise structure and will update if we hear back. A lot of BTC gets bought and sold on Cash App , but profits on those sales do not represent a meaningful portion of income for Square. For example, users who want to control their own assets will want to use an app that lets them withdraw bitcoin, which not all of these do.
For new entrants to the space, you will soon come across an adage: DYOR do your own research. Anyone serious about crypto takes responsibility for double-checking third-party recommendations, and the information above is no exception. Subscribe to First Mover , our daily newsletter about markets.
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Regulators are on the case and this concern should soon be alleviated.