How to Buy Bitcoin on Cash App – A Complete Guide

Cash App is a feature-rich digital payments app that offers users various capabilities. Now, you can also buy cryptocurrency like Bitcoin on this app. If you are hearing this for the first time, you might wonder how to buy Bitcoin on Cash App.

To do so, you need to make an account on the app and buy Bitcoin through the USD option on the home screen. You must ensure that your Cash App account is linked to your bank or checking account to purchase cryptocurrency. Cash App has made buying Bitcoin very easy. Let’s find out more about this process below.

3 Steps to Buy Bitcoin on Cash App

Here are some points you should know before purchasing this cryptocurrency.

  1. You must have an account on the app.
  2. Connect your account with the account of your financial institution. You can only purchase Bitcoin after this has been done.
  3. Cash App may perform some additional security verification to offer you the investment option. As of now, you can only buy Bitcoin through the app.

How to Buy Bitcoin on Cash App and Send to Another Wallet

If you’ve performed the preliminary steps, you are now ready to buy Bitcoin. Here are the few easy steps you need to purchase this cryptocurrency.

  1. Open the Cash App on your phone and access your account.
  2. Check whether your app has the funds to purchase Bitcoin.
  3. If not, transfer some money into it.
  4. Now, tap the ‘Investing’ section. It is at the end of the screen.
  5. After that, press ‘Buy Bitcoin.’
  6. Give an amount or select it using the slider.
  7. Put in your PIN and check the transaction information carefully.
  8. There might be some applicable fees that you need to pay.
  9. If you buy $200 in Bitcoin, you’ll need to pay $4 in fees.
  10. After performing the steps above, hit the ‘Buy’ button.
  11. Now, to send your Bitcoin to another wallet, tap the ‘Money’ tab on your Cash App.
  12. Choose the ‘Bitcoin’ option and then tap ‘Send or Receive.’
  13. Now, select the ‘Send Bitcoin’ option.
  14. Choose an amount that you want to send to another wallet and hit the ‘Send’ button.
  15. Now, enter the address of the wallet you want to send it to. It should be fully accurate.
  16. After that, hit ‘Next.’
  17. Select a specific speed for sending the cryptocurrency.
  18. Tap ‘Next’ and review the transaction information.
  19. Now, hit the ‘Confirm and Send’ button.
  20. Put in your cash PIN and press ‘Done.’

What Is the Fee to Buy Bitcoin on Cash App

Cash App charges a specific fee when you purchase Bitcoin. You can see it on the trade confirmation screen. Here is the fee percentage as per the amount of Bitcoin you exchange.

  1. For an amount of $0 to $9.99, Cash App charges 3% fee.
  2. For an amount of $10 to $100, Cash App charges a 2.25% fee.
  3. For an amount of $100.01 to $200, the fee is 2%
  4. For an amount of $200.01 to $1000, Cash App charges a 1.75% fee.
  5. For an amount of $1000.01 to $2000, Cash App charges a 1.5% fee.
  6. For an amount of $2000 to $3000, Cash App charges a 1.25% fee.
  7. For an amount of $3000.01 to $5000, Cash App charges a 1% fee.
  8. For an amount above $5000.01, Cash App charges a 0.75% fee.

Frequently Asked Questions

1. How do I buy Bitcoin on Cash App for the first time?

Download the Cash App and create an account. Connect your bank account or debit card to your account. Now, add money to your Cash App. Enable Bitcoin exchange and verify your identity. Select Bitcoin and the amount you want to buy. Finally, confirm the transaction.

2. Is it safe to buy Bitcoin on Cash App?

The Cash App is fully secure for exchanging Bitcoin. The app has security features that ensure your Bitcoin does not get stolen or hacked. They keep your Bitcoin in cold storage. It means that the cryptocurrency is offline and protected from online threats.

3. How do I invest in Bitcoin for beginners on the Cash App?

Create an account on the Cash App. Now, link it to a funding source and verify your identity. After that, deposit money into your account on the app. Finally, choose how much Bitcoin you want to buy and hit the ‘Buy Bitcoin’ option.

4. How do I get my money from Bitcoin on Cash App?

Tap ‘USD’ on the Cash App home screen and choose ‘Bitcoin.’ Now, choose Bitcoin and input the amount you wish to withdraw. Tap the top-left part of the screen to get the QR code scanner. Touch your wallet address and hit ‘Next.’ Choose a withdrawal speed and touch ‘Confirm & Send.’

Concluding Words

Purchasing Bitcoin on Cash App is quite a simple process. Use the instructions we have mentioned and start purchasing and sending it. You must ensure that you have sufficient balance to purchase Bitcoin. If you face any issues, contact Cash App support.

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