How to Buy Bitcoin on Cash App and Send It Out

Buying Bitcoin and sending it out using Cash App is a straightforward process that can be done in just a few simple steps. This guide will walk you through the process, ensuring you understand how to purchase Bitcoin on Cash App and how to send it to another wallet or person.

Step 1: Setting Up Cash App

Before you can buy Bitcoin, you need to have Cash App installed and set up on your mobile device. If you haven’t already done so, download the Cash App from the App Store (for iOS) or Google Play Store (for Android). Once downloaded, open the app and follow the on-screen instructions to create an account. You’ll need to provide your phone number or email address, and link your bank account or debit card to the app.

Step 2: Verifying Your Identity

To buy Bitcoin, Cash App requires you to verify your identity. This is a quick process, but it’s essential to ensure your transactions are secure. Here’s how to do it:

1. Open Cash App and tap on the profile icon in the upper right corner.
2. Scroll down and select “Bitcoin.”
3. Tap “Enable Withdrawals and Deposits.”
4. You’ll be prompted to verify your identity. Enter your full legal name, date of birth, and the last four digits of your Social Security number.
5. You may also need to take a photo of your government-issued ID and a clear photo of your face.

Step 3: Adding Funds to Cash App

Before purchasing Bitcoin, ensure you have enough funds in your Cash App balance. To add money:

1. Open Cash App and tap the “Banking” tab, which looks like a building icon.
2. Tap “Add Cash.”
3. Enter the amount you want to add and tap “Add.”
4. Confirm the transaction using your fingerprint, PIN, or password.

The funds will be available in your Cash App balance immediately.

Step 4: Buying Bitcoin

Now that your account is set up, verified, and funded, you can buy Bitcoin:

1. Open Cash App and tap on the “Investing” tab, which looks like a squiggly line or chart icon.
2. Tap “Bitcoin.”
3. Tap “Buy.”
4. Enter the amount of Bitcoin you want to purchase, either in USD or BTC.
5. Confirm your purchase by tapping “Next” and entering your Cash App PIN or using your fingerprint.

Step 5: Sending Bitcoin

Once you’ve purchased Bitcoin, you might want to send it to another wallet or person. Here’s how to do it:

1. Open Cash App and tap on the “Investing” tab again.
2. Select “Bitcoin.”
3. Tap “Withdraw Bitcoin.”
4. Enter the amount of Bitcoin you want to send.
5. Tap “Send to Wallet.”
6. You can enter the recipient’s wallet address manually, or if you have their QR code, you can scan it using your phone’s camera.
7. Double-check the wallet address to ensure it’s correct, as Bitcoin transactions are irreversible.
8. Confirm the transaction using your Cash App PIN or fingerprint.

Important Considerations

• Transaction Fees: Cash App may charge a fee for buying and sending Bitcoin. The fee structure can vary, so be sure to review it before completing any transactions.
• Network Congestion: Bitcoin transactions rely on the blockchain, which can sometimes be congested. This may cause delays in the transaction time, so it’s essential to be patient.
• Security: Ensure that you’re sending Bitcoin to a trusted recipient. Once a transaction is completed, it cannot be reversed.

Conclusion

Buying and sending Bitcoin on Cash App is a convenient way to manage your cryptocurrency. With the steps outlined above, you can confidently navigate the process, from setting up your account to making transactions. Remember to always double-check details, like the wallet address and transaction fees, to ensure your Bitcoin is secure.