How to Buy Bitcoin on Cash App and Send It Out

Buying Bitcoin on Cash App is a straightforward process that involves just a few steps. Cash App, a popular mobile payment service, allows users to buy, sell, and send Bitcoin with ease. Here’s a step-by-step guide to help you get started:

Step 1: Download and Install Cash App

First, if you don’t already have the Cash App installed on your smartphone, you’ll need to download it from the Apple App Store or Google Play Store. Once installed, open the app and sign up if you’re a new user, or log in with your existing credentials.

Step 2: Link Your Bank Account or Debit Card

Before you can buy Bitcoin, you’ll need to link your bank account or debit card to your Cash App. To do this, tap on the bank icon located at the bottom of the screen, and follow the prompts to add your bank account or debit card information.

Step 3: Access the Bitcoin Section

Once your bank account is linked, navigate to the “Investing” tab by tapping the squiggly line (like a stock market icon) on the Cash App home screen. Here, you’ll find two options: "Stocks" and "Bitcoin." Tap on "Bitcoin" to proceed.

Step 4: Purchase Bitcoin

In the Bitcoin section, you’ll see an option to buy. You can choose to buy a specific dollar amount of Bitcoin or select a custom amount. After entering the amount, review the transaction details and then tap “Buy.” You might be asked to enter your PIN or use Face ID to confirm the purchase.

Step 5: Store Your Bitcoin

Once the purchase is complete, your Bitcoin will be stored in your Cash App Bitcoin wallet. You can view your balance at any time by revisiting the Bitcoin section in the app.

Step 6: Sending Bitcoin

To send Bitcoin, return to the Bitcoin section and tap on the “Send Bitcoin” button. You’ll be prompted to enter the amount of Bitcoin you wish to send. After that, you’ll need to enter the recipient’s Bitcoin address or scan their QR code. Double-check the address to ensure it’s correct, as Bitcoin transactions cannot be reversed. Once you’re sure, tap “Send.”

Security Measures

Ensuring the security of your Bitcoin is crucial. Cash App provides the option to enable two-factor authentication (2FA) for an added layer of security. Additionally, always double-check the recipient’s address before sending any Bitcoin to avoid costly mistakes.

Transaction Fees

When buying and sending Bitcoin on Cash App, there are fees involved. Cash App charges a service fee for each transaction, as well as an additional fee based on the volatility of Bitcoin prices. These fees will be clearly displayed before you confirm your transaction.

Summary

Buying and sending Bitcoin on Cash App is a user-friendly process, making it an ideal platform for both beginners and experienced users. From purchasing to transferring Bitcoin, the app provides a seamless experience, but it’s important to stay vigilant with security and understand the associated fees.