Cryptocurrency like Bitcoin has gained tremendous popularity, and the number of people adopting it has significantly increased. Cash App is another extensively used peer-to-peer money exchange application. Did you know that you can easily buy and deposit Bitcoin on this app? Finding out how to buy Bitcoin on Cash App is a matter of learning a few simple steps.
A great thing about using the Cash App to purchase Bitcoin is that you can withdraw the cryptocurrency to other platforms. It’s also possible to buy Bitcoin with the Cash App via the P2P exchange of Binance.
Keep reading to understand the exact process for purchasing Bitcoin on the Cash App.
Cash App is a great platform for newbies to send, save, and invest money in cryptocurrency. Although it charges fees on Bitcoin purchases, the amount isn’t a lot. So, if you are wondering how to buy Bitcoin on Cash App for the first time, follow this simple 4-step process.
1. Download the Cash App and open it.
Start by heading to the Apple App Store or Google Play Store. Download Cash App and create your account. You will need your email address, phone number, and bank account or debit card number.
After that, enter your name and select a $Cashtag. This is your handle on the platform through which other Cash App users can send you money.
You cannot purchase cryptocurrency without adequate money in your account. So, ensure that you have adequate money in your account. In order to complete a bank transfer, you will need data like your name, residential address, and your social security number.
While you’re at it, make a PIN to verify transactions. Note it down on a piece of paper so you don’t forget it.
The next part is deciding the amount of Bitcoin you desire to buy. Remember that Bitcoin is a volatile asset. It will be bought from the funds you already added to your Cash App. Do not buy this cryptocurrency, thinking that it can replace investments like stocks. This is because this digital asset is relatively recent.
Now comes the final part of learning how to buy Bitcoin on Cash App. Follow these simple instructions.
- Touch the ‘Bitcoin’ tab on the home screen of the Cash App.
- Next, touch ‘Buy BTC.’
- Pick an amount.
- You can tap ‘…’ for a custom amount.
- Input your PIN, and lastly, choose ‘Confirm.’
In the Cash App, the ‘Withdraw’ button signifies sending Bitcoin, and the ‘Deposit’ button means receiving Bitcoin. Here’s the procedure to make a Bitcoin deposit.
- On your Cash App’s home screen, hit the ‘Balance’ tab.
- Now, hit ‘Bitcoin.’
- Choose the ‘Deposit Bitcoin’ option.
- Copy, share, or scan your Cash App Bitcoin address via an external wallet.
- Confirm your PIN or use your fingerprint.
- You can use the ‘Withdraw’ button to transfer Bitcoin to another user or yourself.
Are you now wondering how to buy Bitcoin on Cash App and send it to another wallet? You already know the process of buying BTC on the Cash App. So, in this part, you will learn how to send Bitcoin from your Cash App account to another wallet.
- In the Cash App, locate the Bitcoin icon. It is present at the bottom part.
- Click on it.
- Now choose the ‘Withdraw Bitcoin’ option.
- Input the amount of Bitcoin that you wish to send.
- Input the wallet address of the recipient to whom you want to send the Bitcoin.
- Check the transaction details to ensure you have entered the correct information.
- Authenticate the transaction through your touch or face ID or PIN.
- Finally, submit the transaction.
- The Bitcoin transaction will take a few minutes to process.
The fee of the Cash App is as per your transaction size. It is integrated into your buying prize. On average, the app charges in the 1.5% to 2.3% range. The good thing is that you will see the fees for buying Bitcoin on the Cash App when making the purchase.
Note that Cash App has a spread. It means you need to pay a bit more than the market is worth for Bitcoin. At the same time, you will sell for slightly below the market worth.
Cash App has made buying and selling Bitcoin extremely simple. You can also withdraw digital currency from it, which is unlike other apps. If you want to learn more about purchasing Bitcoin on the Cash App, connect with a cryptocashapp expert.
Frequently Asked Questions
1. How to buy Bitcoin on Cash App with a credit card?
Link your credit card with Cash App. Tap the button at the top on the center. ‘Bitcoin’ at the upper-right part. Tap the ‘Buy’ button below. Input an amount and hit ‘Buy.’
You can sell Bitcoin on the Cash App easily. Touch the ‘Bitcoin’ tab on the home screen of the app. After that, press ‘Sell.’ Add a custom amount. Now, type in your PIN or Touch ID. In the end, select ‘Confirm.’
Yes, Cash App is one of the most reputable money exchange platforms. It also has a support team to resolve your issues. If you are still concerned about your safety, enable two-factor authentication on the app.
You can store your Bitcoin within the Cash App because it also acts as a custodial wallet for digital currency. Apart from this, Cash App also enables you to move your Bitcoin to another crypto wallet.
Yes, Bitcoin is real money on your Cash App. You can make a transaction by connecting to the internet. You can also access or move Bitcoin on your Cash App by being connected to the internet.
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