Square’s Dollar cost averaging allows users to repeat Bitcoin purchases in the Cash App

Square, from Twitter CEO Jack Dorsey, now allows its users to buy Bitcoin (BTC) automatically in the latest push for the adoption of the largest cryptomone currency.

Confirmed by Dorsey on Twitter on May 18, Square’s Cash App now supports automated BTC purchases at set time intervals.

Japanese Exchanges React to Revision of Crypto Laws Now in Place
Square protects BTC buyers from „market changes

Square already includes a Bitcoin wallet and has also implemented the feature, known as Auto Invest, in its stock purchases.

„You don’t need perfect timing if you’re thinking long-term,“ the company’s website explains about the new feature.

Auto Invest allows you to set it up and forget about it by using dollar cost averaging, which is an investment term for regularly buying small amounts over time. By separating purchases, you can minimize the impact of market changes.

With Bitcoin’s price testing at $10k, the bullish regime is within reach in the coming weeks, according to Glassnode

The new BTC flows into Square
Dollar cost averaging is a conspicuous move to turn Cash App users, regular investors rather than high-volume or even technically minded ones, into

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savers.

Using the dcaBTC market resource DCA calculator, a weekly purchase of $10 over the past three years has yielded about 65% profit, from $1,570 to $2,588 as of May 15.

 

Are 3 confirmations still enough if F2Pool can mine 6 consecutive BTC blocks?
No. The use of crypto-currency has already skyrocketed thanks to the implementation of the wallet and one-time purchase functions. As reported by Cointelegraph, most of the $528 million Square in Q1 revenue came from Bitcoin.

Together with investment giant Grayscale, Square consumed more than half of all the BTC mined in Q1.

Auto Invest currently allows an account holder to commit to daily, weekly or monthly purchases, with a minimum of $10. The display page can also be changed to satoshis instead of BTC for easier navigation with smaller amounts.