Cryptocurrency seems to be the word on everyone’s lips when it comes to the future of money. With tons of different e-wallet services and cryptocurrencies to choose from, things can get rather overwhelming rather quickly. So, let’s start from the beginning and see how we can buy bitcoin with Cash App.
You can buy bitcoin on Cash App via three methods. The first method is to do so manually. You can also schedule automatic purchases weekly or daily. Finally, you can create custom orders and specify at which price point you want to buy bitcoin.
Although we are speaking mainly about Bitcoin, there are many other services that Cash App offers. This makes it just that much more user-friendly as it offers more features than most crypto services out there. Let’s take a closer look at Cash App itself and what it can do for you, the user.
How To Create A Cash App Profile: 8 Easy Steps
If you decide that you want to go ahead and create and use your Cash App profile, the good news is that it is straightforward to do. In no time at all, with minimal effort, you will be able to buy and trade Bitcoin. The steps to opening a Cash App profile can be seen below.
- Download Cash App in your relative app store, Android or IOS.
- Tap on and follow the signup requirements.
- You will then need to verify your account through email or a message sent to your phone.
- Enter the amount you want to send.
- Tap on the button that says “Pay.”
- Enter the details of the recipient, either by username, email address, or phone number.
- Enter the reason or reference for the transaction, e.g., “Bitcoin.”
- Finally, confirm payment.
Once you have begun trading, investing, or sending and receiving payment, you will be able to see your transaction history by tapping on the “Activity” tab. This way, you can monitor all transactions made, see exactly what went where, and make sure that things are transparent between you and the app.
How To Buy Bitcoin On Cash App: 9 Easy Steps
Once you have created your profile, verified that it is you, linked your cards, and added some funds to Cash App, you are ready to buy Bitcoin. Luckily, the process is straightforward. However, you might have to set up your investing account.
- Set up your investment account. The Cash App setup wizard is easy to follow.
- From the home page, click bitcoin. It might be a symbol on the bottom of the page.
- From the bitcoin page, you can evaluate the value of Bitcoin. This is where you can decide if it is a good time to buy.
- Click “Buy Bitcoin” if the price suits you.
- You will be asked if you want to make a once-off purchase or set up a daily, weekly, or bi-weekly purchase. Select the option you prefer.
- You will be given set amounts starting with $10 up to $100. Select one of the options and skip the next step, or move on to the next step.
- Click the asterisk if you want to enter your own amount.
- Enter the pin you selected while setting up your investment account.
- Click confirm.
Now, the value of your bitcoin will fluctuate. Depending on the market, you can choose to hold, purchase more, or sell your bitcoin on the app.
Using Cash App To Buy Bitcoin: Cons
No matter what service we look at, there will always be variances between the services offered. They all come with a set of specific pros and cons, some more cons than others as they might not be as developed as other services.
Getting the bad news out of the way first, we will start by looking at the cons of using Cash App.
- Cash App is not a bank.
To use Cash App, you must have an existing bank account with a debit card that you can link to your Cash App portfolio.
- Limited cryptocurrencies.
Bitcoin is currently the only cryptocurrency that you can buy on Cash App, Thus restricting your options on investment.
- Limited transaction.
For the first 30 days when you start using Cash App, you are limited to sending or receiving a maximum of $1000 a day. After that, you can adjust your limits.
- Not international
Cash App cannot be used outside of the United States of America or the United Kingdom. This makes it useless when traveling.
Using Cash App To Buy Bitcoin: Pros
Now, for the good news. Let’s discuss the pros of Cash App.
- Ease Of Use
Once you have set up your Cash App profile, buying bitcoin is relatively easy. The platform is straightforward, with no fuss involved.
Not only is Bitcoin secured by a blockchain, but with the extra security Cash App offers, you are sure to be well protected.
Bitcoin at the touch of a button
Through Cash App buying Bitcoin is as easy as pressing a button. Once you have linked your personal or professional bank account, you can load money onto your Cash App and purchase Bitcoin immediately.
- Trade Stocks
Cash App allows you to buy and sell stocks. Look, the platform might not provide the most technical trading tools, but it is beginner-friendly.
- Trading Bitcoin
Through Cash App, you can buy, sell, and trade Bitcoin. Much like stocks, you can trade your way up.
- Extra services
The other services provided by Cash App make it so much more than just an e-wallet.
Extra Features of Cash App.
As mentioned, Cash App is not a bank; they are a money transfer service, which means that you will need an existing bank account to use it. The main feature we are looking at today is Bitcoin and the Cash App e-wallet, but they offer much more than that.
With Cash App, you can invest in shares, pay recipients instantly, speed up your direct deposits; you can even design and customize your debit card if you want to go that far. They also have an advanced security feature that helps protect you and your money.
These extra features make Cash App more enticing to users, as it offers more than just Bitcoin. The ability of all the extras offered helps you to control your money from one central place. There is no need to use multiple apps to use for payments, transfers, and investments.
That brings us to the end of this article. Hopefully, you have everything you need in terms of know-how to go out and get some bitcoin using Cash App. Remember, keep an eye on the price of bitcoin and try not to make impulsive decisions.