Square Cash: A New Place To Buy And Sell Bitcoin?

TL;DR:

Square begins testing bitcoin support in its Cash app, reports Forbes; lets users generate wallet addresses, send and receive bitcoins, view historical performance, and more; Square says the pilot is limited to a small number of users; it’s unclear if or when it will roll out further.

Huh.

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I hope square cash expands this service to the EMEA region. It would blow up like crazy.

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Interesting. This is a really good move for SquareCash. The more alternatives the better.

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Great news! Keep the fresh money coming into Bitcoin! :rocket:

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Looks like Square went ahead with their Bitcoin purchasing feature:

@john or @peter - anybody know what Square’s KYC requirements are? Still looking for a way into the Crypto market that doesn’t include losing my bank account.

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i don’t know their KYC… but, … i used to like jack. then, i didn’t.

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Good news!

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what happened? Bad experience?

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Square wants the last 4 digits of your social. Is that a deal-breaker @peter / @john? This is kind of weird to me because the only time I’ve had a company ask me for the last 4 of my SSN is when they already have the full SSN and just want the last 4 for confirmation. Any comments @Peter_Rehm?

Note, I’m against giving my SSN to an exchange, so I’m wondering if you feel if the last 4 digit requirement is in effect, just as bad as giving someone the full SSN.

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I abandoned cart here…

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Ok, thanks John. Square was looking like a way for me to finally get into crypt, guess not.

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Is there any possibility that you may have signed up with them some time ago for an other product like their Square card reader? That’s when I became known to them.

Square is a US company and is monitored by the US government so if you had gone that far previously they would know you.

Personally, I gave up trying to be anonymous years ago. It happened when Scott McNealy then of Sun Microsystems did one of his PSA’s and announced that it’s no use trying to remain in the shadows. He is a guy I have trusted for a long time. I’m certainly not a Luddite but I wish these identification systems were not so cumbersome.

Talk about cumbersome, how many of you guys have ever had to deal directly with Comcast??

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Hi Peter,

That’s unlikely. I have a complete list in my head of all the companies I have ever given up my SSN to, because I really dislike doing that. I did a little more reading and apparently they use credit reports (another giant source of hacks as we have seen recently) to do their customer approval. I’m guessing that between your full name and the last 4 digits of your social they can do a credit check? (guessing, not sure).

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The metrics I saw that will enable them to guess who you are with good certainty are the last 4 of your SSN and your approximate age.

They will almost certainly get you with your last name and final 4. Then add in the IP address from which you are communicating and you are ID’d. If you are communicating from a cellular phone the same is the case.

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So they end up with your full social anyways, great.

Thanks, Peter. Now go exercise! :rofl:

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