Did you know that you can use Cash App to buy and send Bitcoin? Buying and selling Bitcoin with Cash App is easy, fast, and secure. In this article, we will discuss exactly the step-by-step process on how to buy and send BTC on Cash App.
Bitcoin is a revolutionary digital asset in the finance sector and is one of the most used cryptocurrencies in the world. It’s one of the first digital currency existing outside any government or corporation control.
Over the years, the the currency has become even more secure and safe use cryptocurrency with blockchain technology.
On the other hand, Cash App is another popular innovation which allows you to send and acquire money on the go.
>> Read: How to Add Money to Cash App Card?
It used to be very cumbersome and took a huge amount of time and even higher fees to purchase Bitcoin. However, Up until recently, with Cash App, it now takes a couple of seconds to purchase Bitcoin and can even withdraw it to a non-custodial wallet with the control of your private keys.
How To Buy Bitcoin On Cash App?
Launch and log into CashApp
Select the option of BTC and cash on the screen top.
If the options don’t appear, swipe left or right on the BTC symbol available on the top right corner.
Ether select the swipe up or the slider and enter the amount of bitcoin that you wanna purchase.
Once the BTC amount is entered, Click on the button to buy.
Next, use the Touch ID or enter the cash app pin.
Press on the confirm button to complete the purchase for the bitcoin.
The Fees for all Bitcoin purchases are 1.75%, which is some of the lowest in the market, but they can vary as per the website.
Cash App charges two kinds of fees for your bitcoin transactions:
Service fee for the transaction and
Additional fees determined by price volatility across the U.S. exchanges.
Apart from the option to purchase Bitcoin, Cash App also added the ability to even purchase stock and without fees. This feature can be accessed on the rising curved line in the bottom menu and gives two tabs to switch between buying Bitcoin and stocks.
How much Bitcoin can i buy on Cash App?
Cash App currently allows you to purchase Bitcoin worth $100,000 a week and can withdraw $2,000 of Bitcoin a day or $5,000 a week.
Buying and sending Bitcoin on Cash App is pretty straightforward and convenient.
>> Read: How To Find Cash App Bitcoin Wallet Address?
How To Send Bitcoin From Cash App?
Here are the steps to send bitcoin from Cash App:
Open the Cash app and select the profile icon of the profile in the upper left corner.
Scroll down to funds and select bitcoin to display your total balance.
Tap on the “Withdraw Bitcoin” button.
Choose the amount of BTC to transfer.
Either scan a QR code or select the enter manually alternative to copy/paste the wallet address.
Next, enter your CashApp PIN code or use Touch ID to confirm the transaction.
Make sure to always double check the Bitcoin wallet address to send to. In the case that you enter the wrong address in Cash app, your bitcoin will be lost forever. Hence, it is best recommended to copy and paste it from your receiving wallet to avoid any small character errors.
You need to have at least 0.001 bitcoin balance to make a withdrawal. Withdrawl won’t be processed immediately and take some time for your transaction to be confirmed on the network.
Related read: Cash APP Support Phone Number – Contact Guide
Transfers usually take anywhere from 5-60 minutes depending on network congestion and how fast new blocks are mined.
Updates on Cash App Bitcoin
Bitcoin weekly buying limit on own Cash Ap was quietly lifted in early May 2020 from $10,000 to $100,000.
Jack Dorsey the CEO of both Twitter and Square Inc has made it’s intention on Bitcoin and its growing adoption.
In November of 2020, the Q3 of Square’s stock soared as their financials reported to beat their investor expectations by a long shot with a huge reason for that performance as 80% of Cash Apps revenue came from Bitcoin sales.
Square reported Quarterly Bitcoin revenue over $1 Billion for the first time and it seems like they are working for more features. CashApp would now allow users to make recurring Bitcoin buys that will allows purchasers to practice an investment strategy known as Dollar Cost Averaging to remove the risk of “goes all in” at a top.
>> Read: Send Bitcoin from Cash App to Coinbase
Remember that Bitcoin is volatile and risky with the charge fluctuated heavily. Other expenses for BTC transactions include buying, selling and maybe chickening out.
Buying and Sending Bitcoin with Cash App is super easy and convenient. Hopefully, this guide helps you to on how to send Bitcoin from Cash App.