Cash App is a popular mobile payment service that allows users to send and receive money, pay bills, and buy and sell Bitcoin. Many people use Cash App as a convenient way to purchase Bitcoin, and like any other payment service, there are some limits on how much Bitcoin you can buy or sell.
The Cash App Bitcoin limit varies depending on several factors, including your account status and verification level. If you are a new user, there are limits on how much Bitcoin you can buy or sell. However, as you continue to use the service and verify your account, these limits will increase.
For unverified Cash App accounts, the Bitcoin limit is $1,000 per week. This means that you can buy or sell up to $1,000 worth of Bitcoin every seven days. If you want to increase this limit, you will need to verify your account.
Verified Cash App accounts have higher Bitcoin limits. For verified accounts, the Bitcoin limit is $7,500 per week. This means that you can buy or sell up to $7,500 worth of Bitcoin every seven days. However, if you want to increase this limit even further, you can apply for a higher verification level.
To apply for a higher verification level, you will need to provide additional information about yourself and your financial situation. This may include providing your social security number, a photo ID, and proof of income. Once your application is approved, your Bitcoin limit will increase accordingly.
It is important to note that these limits are subject to change at any time, and Cash App may impose additional limits or restrictions on your account based on your activity or other factors. It is always a good idea to check your account settings and review the terms and conditions of the service to stay up to date on any changes or updates.
In addition to the Bitcoin limit, there are also fees associated with buying and selling Bitcoin on Cash App. These fees can vary depending on the size of your transaction and other factors. Cash App charges a service fee of 1.76% for Bitcoin purchases and a 0.76% fee for Bitcoin sales. These fees are deducted from the total amount of Bitcoin you buy or sell.
Overall, the Cash App Bitcoin limit is a key factor to consider when using the service to buy and sell Bitcoin. While the limits may be lower for new or unverified accounts, they can be increased with additional verification or a higher verification level. It is also important to be aware of the fees associated with using Cash App to buy and sell Bitcoin, as these can impact the overall cost of your transactions. By understanding the Bitcoin limit and fees, you can make informed decisions about using Cash App to buy and sell Bitcoin.