Square earnings escalate with a miracle Cash App as bitcoin risks are highlighted

Square seems to be one entity that is hitting the jackpot after a late past Tuesday that revealed some really mouthwatering figures.

The company registered a hooping 7 million users in December last year which is a fit that a handful of companies can live up to.

As if that is not enough, the authorities revealed that square cash’s debit card users spent about 90 million dollars.

The company delved into bitcoin trading by introducing a cash application late last year in November. The success that followed its initial efforts powered it to extend its service to more customers in December.

A highly productive meeting with the investors witnessed the CEO of the company making a compelling statement portraying Bitcoin as something much more than just business as usual.

There seems to be a strong belief in bitcoin as a revolutionary innovation that has the capabilities to transform the companies industry.

The companies statement came out clear on the risks associated with cryptocurrency trading leaving a strong impression on how balanced it is in its approach. There may be plenty of things to be excited about when it comes to cryptocurrency trading but there are issues that can’t be ignored.

A highlight of the associated disadvantages as put forward by the company is the tendency of regulatory authorities to distrust virtual currencies which usually results in ill-treatment of associated entities.

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Joseph Taylor is a is a Senior Writer at TheOofy. Originally from UK, Taylor attended Oxford Business School. He covers many things from fintech apps, banking, and financial technologies. He also speaks at fintech conferences. He owns small amounts of various cryptocurrencies.