Bitcoin has become one of the most popular cryptocurrencies in recent years, and it’s no surprise that it’s now available on the Cash App. Cash App is a mobile payment application created by Square Inc. that allows users to send and receive money, buy and sell stocks, and now, purchase and sell Bitcoin.
Cash App’s Bitcoin feature is straightforward and easy to use, making it an excellent option for those looking to invest in Bitcoin. Here’s how it works:
1. Setting up your Cash App account
Before you can buy Bitcoin on Cash App, you need to create an account. To create an account, download the Cash App from the App Store or Google Play Store, then follow the prompts to create an account. Once you’ve created an account, you can link your bank account or debit card to your Cash App account.
2. Buying Bitcoin on Cash App
Once you’ve set up your Cash App account, buying Bitcoin is easy. Open the app and tap on the “Investing” tab. From there, you’ll see the option to buy Bitcoin. Enter the amount of Bitcoin you want to buy, and Cash App will give you the current market price. After you’ve confirmed the purchase, the Bitcoin will be added to your Cash App Bitcoin wallet.
3. Selling Bitcoin on Cash App
Selling Bitcoin on Cash App is just as easy as buying it. Open the app and tap on the “Investing” tab. From there, you’ll see the option to sell Bitcoin. Enter the amount of Bitcoin you want to sell, and Cash App will give you the current market price. After you’ve confirmed the sale, the funds will be added to your Cash App balance.
4. Bitcoin transactions on Cash App
Bitcoin transactions on Cash App are processed instantly. This means that when you buy or sell Bitcoin, the transaction will be completed immediately. However, it’s important to note that Bitcoin transactions are irreversible, so be sure to double-check the amount you’re buying or selling before confirming the transaction.
5. Fees and limits
Cash App charges a small fee for Bitcoin transactions. The fee is based on the current market price of Bitcoin and is displayed when you confirm your transaction. Cash App also has limits on how much Bitcoin you can buy or sell. These limits are based on a variety of factors, including your account activity and verification status.
Overall, using Bitcoin on Cash App is a straightforward and user-friendly experience. Whether you’re looking to invest in Bitcoin or simply want to use it for transactions, Cash App makes it easy to do so. With its instant transactions and low fees, Cash App’s Bitcoin feature is an excellent option for anyone looking to get started with cryptocurrency.