Cash App Eliminates Fees on Large Bitcoin Purchases

Cash App has made buying Bitcoin significantly cheaper for users making large purchases. The payments platform, owned by Block, will no longer charge fees or spreads on Bitcoin transactions exceeding $2,000. This change affects not only one-time purchases but also recurring and automated buys.

The company's previous fee structure charged up to 2.0% on small purchases and 0.9% on transactions between $1,000 and $1,999. Additionally, a spread was applied to the market price of Bitcoin, making it more expensive for users to buy. Now, users can purchase Bitcoin without any additional costs above $2,000.

Cash App is targeting dollar-cost averaging, a popular strategy among retail investors, which involves buying a fixed amount of Bitcoin at regular intervals. By eliminating fees on recurring buys, Cash App aims to attract more users who prioritize long-term investment over short-term gains.