Cash App is one of the most popular payment apps on the market. It allows users to quickly and easily send money to friends and family, as well as purchase goods and services. More recently, Cash App has added the ability to buy, sell, and store Bitcoin. This feature has made Cash App an even more attractive option for those interested in cryptocurrency. In this article, we’ll discuss the steps you need to take to get started using Bitcoin on Cash App.
Setting Up Your Cash App Account
Before you can start buying and selling Bitcoin on Cash App, you’ll need to create an account. This process is fairly straightforward and requires you to enter your name, date of birth, and the last four digits of your social security number. Additionally, you’ll need to provide an email address and phone number for verification purposes. Once you’ve set up your account, you’ll be able to link a bank account, debit card, or credit card for easy transfers.
Adding Bitcoin to Your Cash App Account
Once your Cash App account is set up, you can easily add Bitcoin to it. To do this, open the app and select the “My Bitcoin” option. From there, you can select the “Buy” option, which will allow you to purchase Bitcoin with your linked payment method. You can also select the “Sell” option to turn your Bitcoin into cash. Once you’ve purchased Bitcoin, it will be added to your Cash App balance.
Using Bitcoin on Cash App
Now that you’ve added Bitcoin to your Cash App account, you can start using it. You can use Bitcoin to purchase goods and services, just like you would with cash or a credit card. Additionally, you can send Bitcoin to other Cash App users, or to people who have a Bitcoin wallet. To do this, simply select the “Pay” option and enter the recipient’s Bitcoin address. You can also select the “Request” option to request Bitcoin from other users.
Storing Bitcoin on Cash App
Cash App also allows you to store your Bitcoin in their secure wallet. This is a great option for those who want to keep their Bitcoin safe and secure. To store your Bitcoin on Cash App, select the “My Bitcoin” option and then select the “Secure with Cash App” option. This will add your Bitcoin to Cash App’s secure wallet, so you can rest assured that it is safe.
Bitcoin Fees on Cash App
When using Bitcoin on Cash App, you’ll be subject to a few fees. The first of these is the Bitcoin network fee. This fee is charged by the Bitcoin network, not by Cash App. It is used to incentivize miners to process your transaction in a timely manner. Additionally, Cash App will charge you a service fee when you purchase or sell Bitcoin. This fee is typically around 1.75%, but may vary depending on the amount of Bitcoin you’re buying or selling.
Withdrawing Bitcoin from Cash App
If you’d like to withdraw your Bitcoin from Cash App, you can do so easily. To do this, open the app and select the “My Bitcoin” option. From there, select the “Withdraw” option and enter the amount of Bitcoin you’d like to withdraw. You’ll then need to enter the Bitcoin address of the wallet you’d like to send the Bitcoin to. Once you’ve done this, your Bitcoin will be sent to the specified address.
Tracking Your Bitcoin Transactions
Cash App makes it easy to track your Bitcoin transactions. To do this, simply open the app and select the “My Bitcoin” option. From there, select the “Transactions” option and you’ll be able to view a list of all of your recent transactions. This makes it easy to keep track of your Bitcoin activity and ensure that all of your transactions have been completed successfully.
Conclusion
Cash App is quickly becoming one of the most popular ways to buy, sell, and store Bitcoin. The app makes it easy to buy and sell Bitcoin, as well as store it in their secure wallet. Additionally, Cash App makes it easy to send and receive Bitcoin, as well as track your transactions. For those who are interested in getting started with Bitcoin, Cash App is definitely worth considering.