Bitcoin, the world’s most valuable cryptocurrency, has revolutionized the way we think about money. It’s a decentralized digital currency that allows users to send and receive payments without the need for intermediaries such as banks. Cash App, a popular mobile payment app, allows users to buy, sell, and send bitcoin easily. In this article, we’ll explain how you can send bitcoin through Cash App.
First, ensure that you have a Cash App account and have linked it to your bank account or debit card. If you haven’t done so, download the app and follow the on-screen instructions to create an account and link your payment method.
Once you have a Cash App account, follow these steps to send bitcoin:
Step 1: Open the Cash App and navigate to the home screen.
Step 2: Tap on the “Bitcoin” icon, which is represented by an orange “B” located at the bottom of the screen.
Step 3: Tap on “Withdraw Bitcoin” to initiate a transfer.
Step 4: Enter the amount of bitcoin you want to send.
Step 5: Enter the recipient’s wallet address or scan their QR code. To do this, tap on the “Scan QR Code” button and hold your phone over the recipient’s code until it’s scanned. If you are manually entering the address, double-check it to ensure it’s correct. Bitcoin transactions are irreversible, so sending funds to the wrong address could result in permanent loss.
Step 6: Review the transaction details to ensure that everything is correct. Once you’re satisfied, tap “Confirm.”
Step 7: Enter your Cash App PIN or use your Touch ID to confirm the transaction.
Step 8: Wait for the transaction to be confirmed. Bitcoin transactions can take anywhere from a few minutes to several hours to be confirmed, depending on the network’s congestion. You can check the status of your transaction by tapping on the “Bitcoin” icon and selecting “Activity” from the menu.
It’s worth noting that Cash App charges a fee for bitcoin transactions. The fee is based on the current market rate and can fluctuate over time. The app will display the current fee before you confirm the transaction.
In conclusion, sending bitcoin through Cash App is a straightforward process that can be completed in a matter of minutes. However, before sending any funds, ensure that you have entered the correct recipient wallet address and have enough bitcoin in your account to cover the transaction and any associated fees. With Cash App, you can easily send and receive bitcoin, making it a convenient way to participate in the world of cryptocurrency.