Bitcoin has become a popular investment tool for people looking to diversify their portfolios. But buying and selling bitcoins can be a daunting process, especially for beginners. Luckily, there are now several ways to buy and sell bitcoins, including through CashApp, one of the most popular peer-to-peer payment apps in the market. In this article, we’ll explain how to sell bitcoin on CashApp.
First, it’s important to note that CashApp only allows users to buy, store, and sell bitcoin, not other cryptocurrencies. If you have other cryptocurrencies, you’ll need to exchange them for bitcoin first before selling them on CashApp.
To sell bitcoin on CashApp, you’ll need to follow these steps:
Step 1: Open CashApp and log in to your account.
Step 2: Click on the “Investing” tab located at the bottom of the screen.
Step 3: Click on the “Bitcoin” tab located at the top of the screen.
Step 4: Click on the “Sell” button located at the bottom of the screen.
Step 5: Enter the amount of bitcoin you want to sell. You can either enter the amount in dollars or bitcoin. CashApp will automatically calculate the value in the other currency.
Step 6: Review your transaction details, including the amount you’re selling, the current bitcoin price, and the value in dollars. If everything looks good, click on the “Sell” button.
Step 7: CashApp will ask you to confirm your transaction. Review the details once again and click on the “Confirm” button.
Step 8: CashApp will process your transaction and send the funds to your CashApp balance. You can then withdraw the funds to your bank account or use them to buy other investments on CashApp.
It’s important to note that CashApp charges a fee for each bitcoin transaction. The fee varies depending on the current bitcoin price and market conditions. CashApp also charges a spread fee, which is the difference between the buy and sell prices of bitcoin.
To avoid losing money on fees, it’s important to monitor the bitcoin price and market conditions before selling your bitcoin. You can also consider using other peer-to-peer payment apps or cryptocurrency exchanges that offer lower fees than CashApp.
In conclusion, selling bitcoin on CashApp is a relatively easy process that requires a few simple steps. However, it’s important to be aware of the fees involved and to monitor the bitcoin price and market conditions to avoid losing money. With the right strategy and knowledge, you can sell your bitcoin on CashApp and make a profit.