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Cash App is already requesting information such as the last four digits of a social security number. They could also put a mechanism in place to verify these celebrities and other notable figures who are giving money away using their platform. Because more often than not they announce their giveaways on social media. For instance, rappers Lil Nas X and Megan Thee Stallion gave away money using Cash App back in March, and of course, scammers quickly seized on their generous giving.
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In one example, Robert Kiyosaki paid $45,000 on the house worth $65,000 that the owner was struggling to sell. The first year he rented it out to a local professor. And after expenses, he nets $40 a month. However, a year later, when the market picked back up, he sold it for $95,000. Since he had used the money to buy a bigger property, a 12-unit apartment, he was able to defer the payment of capital gains. He spent $300,000 on the apartment. And only two short years later sold it for $495,000 and bought a 30-unit apartment building with a cash flow of $5,000 a month. A few years later, he sold it for $1.2 million.
A rewards checking account provides incentives for opening an account and maintaining certain minimum requirements. Rewards could be a cash bonus, cash back (like a credit card) or a higher APY similar to that of a high-yield savings account. A rewards checking account may come with a few extra hoops compared to that of a high-yield savings or money market account, but it might be worth more than other savings options.