Cryptocurrency

Cash App Wants to Keep Instant Payments “Lightning” Fast

By prioritizing its market relevance with Bitcoin’s Lightning Network integration that allows users to send and receive crypto for everyday purchases.

Cryptocurrency

Cash App Wants to Keep Instant Payments “Lightning” Fast

By prioritizing its market relevance with Bitcoin’s Lightning Network integration that allows users to send and receive crypto for everyday purchases.

Cash App Bitcoin Lightning Network
Nurphoto / Getty Images

Cash App users are now able to send and receive Bitcoin utilizing the Lighting Network as an accessible and easy way to make everyday purchases with crypto.

Cash App users can effortlessly transfer Bitcoin funds from one account to another, without setting up a Cash App account. According to the announcement, all Cash App users need is an established Bitcoin-compatible wallet with Lightning Network enabled.


On average, most Bitcoin transaction speeds take anywhere from 10 to 20 minutes to complete but can take longer to finalize, depending on network congestion.  

Due to the extended period of time users still have to wait for transactions to complete, the desire to continue using instant fiat payment providers like Cash App, Venmo, and PayPal remain extremely attractive. 

With over 44 million monthly users to its platform, Cash App’s integration with the Lightning Network positions the payment provider in a better light to be able to onboard new users to the world of crypto, while still enjoying the traditional fruits of the platform.

Cash App’s parent company, Block Inc. (f/k/a Square Inc.), first began testing Bitcoin trading on its platform last November. 

After more than 10 million accounts were reported as buyers of Bitcoin through Cash App in Q1, Block launched the Lightning Network in February 2022, as a new, fast, and free way for users to continue making payments with Bitcoin.

While Lightning transactions are not recorded on the blockchain, Cash App users can now request, send/receive, and withdraw Bitcoin off or on the mobile app. It’s worth noting that the Lightning Network is best utilized for small amounts of Bitcoin, given Cash App’s weekly transaction limit of $999 USD in Bitcoin.

This week, Cash App has already begun adding updates to the Lightning Network, further evidencing its desire to educate its users on Bitcoin’s advantages when sending/receiving money. 

In other crypto news, With institutional investment on the rise, where do employees stand?.

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