Cash App posted a job listing on LinkedIn, first noticed by The Block, which implies that they need help adding limit orders, recurring purchases and gifting features to their Bitcoin platform. Listed in the job description, they are looking for a Product Manager for crypto investing.
“(responsibilities) could include tried and true growth tactics, new functionality (e.g. limit orders, auto-invest), or building entirely new features like BTC gifting (P2P)”
Recurring Bitcoin purchases are a feature that we’ve been asking for and is in high demand because it allows users to automate dollar-cost average into their long term positions. Because of how volatile Bitcoin can be, it is risky to go all in at any one point. To prove this, we looked into what returns would be had someone invested bi-weekly in even increments since the top of the 2017 bubble. It turns out buying even at the worst time would have left investors up 12% as of last month.
Limit orders are great too, because instead of purchasing in time increments, you can set price points and which you would like to buy or sell. This will bring Cash App closer to be a full fledged trading exchange as it is pretty much only missing stop-losses after that.
Cash App would be among the first to have a proprietary gifting system, and it would work well on their platform because they already have so many users. The problem with gifting Bitcoin right now is that if the recipient has never used Bitcoin, you will have to make a wallet for them and hope that they don’t lose their private keys. With Cash App, the wallets are already made for every user and it would imply sit in their app, ready to sell or withdraw to an offline wallet.