Cash App Eliminates Fees on High-Value Bitcoin Purchases

Cash App has made significant changes to its fees on Bitcoin purchases for its users in the US. The company has eliminated all fees and spreads on buys exceeding $2,000, making it one of the cheapest options for Bitcoin investors in the country. This move is aimed at long-term holders who use dollar-cost averaging, reducing the cost burden of frequent small purchases.

The app also raised Bitcoin withdrawal limits to provide users with more flexibility. Additionally, Cash App emphasizes full backing and 24/7 access to funds, providing its users with peace of mind when it comes to their investments.

This strategy by Cash App's parent company, Block, aims to boost user engagement and transaction volume to offset lost fee revenue. By attracting more users to its broader financial services ecosystem, the company hopes to make up for the revenue loss due to the elimination of fees on high-value Bitcoin purchases.