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How to Buy Bitcoin on Cash App

There are many ways to buy Bitcoin now. You can use a debit card or bank account, send cash digitally using the Cash App, and several other methods. Now it is possible to do so with no ID required! That’s right you don’t need to upload your driver’s license or anything like that simply take pictures of your entire cash receipt and upload it.

Is it Safe to Buy Bitcoin with Cash App?

Yes. More and more people are choosing to buy Bitcoin with the Cash App. The app has been transferring money for a while now, but they only recently added the ability to purchase Bitcoin. After looking over some of the reviews, I can say that it seems like a safe way to buy bitcoins as long as you follow their guidelines.

In order to comply with government regulations, you must take pictures of your entire receipt and upload them before being able to complete your purchase.

Buy Bitcoin on Cash App
Buy Bitcoin on Cash App

How to Withdraw Bitcoin from Cash App

If you have ever used the Cash App, then you know that they don’t let you withdraw your funds easily. That means that in order to be able to sell it on a different exchange, you will need to transfer it back into dollars and then send it to an exchange.

If this is something you want to do, simply tap the menu button in your Cash App and choose “Transfer” next, tap the dollar sign above Transfer to, then tap Bitcoin. Here you will see the number of coins that you currently hold along with a wallet address for where you want to deposit them.

This transfer can only take place if it is over $10 worth of bitcoin since they do not allow anything lower. The reason they do not allow anything lower than $10 is so that you can’t send money to someone else or use it for things like tipping people on the app.

There is a limit of $300 per week and $1,000 total. On top of all of this, Cash App charges a 5% fee when you withdraw your funds.

Sending Your Bitcoin from the Cash App

To send your Bitcoin from the Cash app is very similar to the process you would use with other exchanges. You’ll need to go into the wallet section of the app and then tap on ‘+‘ which will prompt a menu to pop up as seen below.

In this menu, you can choose how much Bitcoin you want to send and then input your wallet address. Now that you’ve added a wallet to the app you can just tap on it and then tap on ‘Send‘. Choose how much Bitcoin you want to send and then press continue as seen below.

Once you confirm the action, your Bitcoin will be transferred from the Cash app to the wallet address of your choosing.

How much does it cost?

All that is required is a cell phone number so they can send you an SMS code to verify your identity. There are no fees incurred when transferring funds from USD wallet to bitcoin wallet. The only fee will be charged by Coinbase which hosts Coinbase wallet service where users

Steps for using Cash App To Buy Bitcoin for Beginners

1) Sign up for a Cash account by downloading the application via Apple or Google Store & entering in the requested information. You will need a debit card or credit card number linked to your bank account as well as other basic information such as your name, birthday, etc.

2) After you have signed up for Cash App follow the prompts to upload a picture of your debit card. Make sure it is on the front and back sides!

3) Now that you are all set up with Cash App, make sure you are logged in and go to the settings tab on the top right side. You will see a tab saying “Profile“, click that tab then choose “Website“. Scroll down until you reach the bottom part where it says “Bitcoin” and tap on that blue button.

Next, you will be prompted to take photos of your entire cash receipt followed by uploading them to Cash App’s website. This might take several minutes so I recommend doing this at home or somewhere with good wifi.

4) You are almost done! After uploading the photos of your cash receipt go back to the settings tab and click on “Bitcoin” again. This time choose “Redeem“. A QR code with a bitcoin amount will be displayed on your screen, you will need to use your phone’s camera feature to scan this QR code. Now that you scanned the QR code it is time to put in how much Bitcoin you want to purchase!!

TIP: I recommend starting off with $25 worth *at least*!!!

5) If everything went well, congratulations! Your Bitcoin should now show up in your account (it might take some hours). To check out your Bitcoin balance, simply swipe right or tap on the Cash Card at the top left of your screen. You will then see some options for sending, spending, or selling Bitcoin! There are many scenarios where people need to get money fast, and having the ability to use Cash App is helpful when you really need it.

How long is verification for Bitcoin on Cash App?

The verification process can take anywhere from 2-3 days. This is an automated process so you should not expect immediate results. However, it does not hurt to check up on the status of your account every now and then using the steps listed above.

Alternatives to Cash App for Buying Bitcoin

Although Cash App is a good way to invest in Bitcoin, there are other options as well. Below I have listed some of the alternatives I have come across:

  1. Coinbase – This is another very popular platform for people to buy their first bitcoins. It offers a lot of integrations with various apps and websites that you might want to check out.
  2. CoinMama – This is another website that lets you trade bitcoins with your credit card or debit card. It also has a two-factor authentication feature which makes it more secure than other platforms on the market today.
  3. LocalBitcoins – If you are looking for an alternative platform to Cash App, you might want to check out LocalBitcoins. They are known as one of the oldest exchanges in the world, and they do have a good reputation among customers online.
  4. Binance – One of the newest exchanges on this list, Binance has been receiving a lot of praise from users lately.
  5. Bitstamp – One of the most mature bitcoin exchanges in the world, there is a reason why they have been able to stay alive for so long and thrive till today.

Final Thoughts:

This is a great way to purchase Bitcoin using Cash App if you don’t want to tie up your bank account and can meet the requirements. But be careful, sometimes there are large fees for transferring bitcoins from one wallet to another. These fees will depend on each individual exchange so I recommend doing some research before sending any money into Coinbase or other exchanges that host wallet services.

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James T.

James, a distinguished alumnus of MIT, where he specialized in Computer Science and Communications Technology, has an impressive academic foundation that underpins his expertise. With over a decade in the industry, he deciphers complex technology into easy how-tos. Known for his keen insights, James is dedicated to helping readers navigate the rapidly evolving digital landscape.

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