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How To Buy Bitcoin On Cash App In 5 Steps, With Photos

buy bitcoin on Cash App

How To Buy Bitcoin On Cash App In 5 Steps, With Photos

As Bitcoin trading boomed in the last quarter of 2021, many mobile payment services scrambled for a pie. From PayPal to Venmo to Cash App, investing in Bitcoin soon became as easy as sending money to a friend. Most P2P platforms did implement a crypto feature. So, individuals found it easier to buy Bitcoin on Cash App and other mobile payment services. But how do you actually do it? How does one buy Bitcoin on Cash App? Allow us to walk you through the process so you can start trading.

Why Buy Bitcoin On Cash App?

ethereum vs bitcoin
Cashapp allows you to move your Bitoin to other wallets and exchanges.

Before we show you how to buy Bitcoin on Cash App, let’s first look at a few reasons why you might want to buy this cryptocurrency in the first place. From the convenience of using Cash App to the appeal of a robust investment portfolio to the continued lower cost of Bitcoin, below are three compelling reasons to buy Bitcoin on Cash App.

Convenience Of Cash App

Cash App is an incredibly convenient mobile payment service and arguably easier to use than PayPal or Venmo. With Cash App, you don’t need a bank account or even a credit or debit card like other mobile payment services. This effectively puts Cash App at a major advantage over the competition. As such, the sheer convenience of Cash App makes buying Bitcoin through their app quite appealing.

Building An Investment Portfolio

Another reason to use Cash app is the immense potential of building an investment portfolio. Even if you don’t fancy Cash App as a mobile payment service, you could find it attractive for growing your investments. Particularly, it lets you buy and sell Bitcoin and make other investments. Bitcoin has shown some truly spectacular growth in the past despite experiencing a significant price drop since 2021. Investors are hopeful the crypto will rise again. Combine this with Cash App’s great user interface, and it’s undoubtedly a super appealing way to build a robust investment portfolio.

Price Of Bitcoin

Once trading at $64,000 per Bitcoin, the popular cryptocurrency fell to as low as $16,000 a coin. Since then, it has risen again and settled down to around $27,000 a coin. Today, Bitcoin’s price makes it an appealing investment for those looking to get into the crypto space. Cash App lets you take advantage of these low prices. Considering the app’s unrivaled convenience and its other investment opportunities, such as stocks, now is the perfect time to buy Bitcoin on Cash App.

How To Buy Bitcoin On Cash App

Buying Bitcoin on Cash App is pretty straightforward and could take you a couple of minutes. For this demonstration, we’re using an iPhone and Cash App for iOS. This process is pretty much the same on iPad and Android devices or any smartphone that’s compatible with Cash App. Before beginning, make sure you download Cash App, register an account, and have adequate funds to make a purchase.

Step One: Open App

Start by opening up the Cash App app on your device. If you can’t locate it, swipe down on your home screen and search for it by name. You might also be able to locate it by swiping to the last page on your home screen and searching the App Library. Tap it to open the application.

Step One - Open App
Open Cashapp and sign into your account.

Step Two: Tap the Money Icon

Once on the main payments page, tap the bank icon at the bottom left option of the screen. This is the Money tab, which allows you to purchase Bitcoin.

Step Two - Tap the Money Icon
When you tap the money icon at the bottom, you’ll the buy bitcoin option.

Step Three: Tap “Buy Bitcoin”

On the Money tab, tap “Buy Bitcoin.” It’s just below the “Savings” and “Free Tax Filing” options and to the left of the “Invest In Stocks” option. Make sure you have a cash balance before proceeding. You can add more cash by hitting the “Add Cash” button at the top of the Money tab.

Step Three - Tap "Buy Bitcoin"
Tap Buy Bitcoin to initiate the purchase.

Step Four: Hit “Get Started”

After tapping “Buy Bitcoin,” a guide will walk you through the basics of Bitcoin trading. If you know your way around cryptocurrency, you can go ahead and skip this by hitting “Get Started.” If you’d like to learn more, you can simply swipe through and then hit “Get Started” after reading.

Step Four - Hit "Get Started"
When you tap get started, you’ll be able to learn more about Bitcoin investments.

Step Five: Make Your Purchase

At last, you’ll be taken to the Bitcoin page. Here, you’ll see a number of guides and explainers telling you more about the history of Bitcoin and its current price. Hit the “Buy Bitcoin” button in the center of the screen.

Step Five - Make Your Purchase
You can buy Bitcoin for a pre-set amount or any amount.

This will bring up a pop-up menu prompting you to enter an amount. Key in the amount you want to invest in Bitcoin, then hit “Next.” Follow the subsequent steps until your purchase is complete. That’s all there is to buying Bitcoin on Cash App!

Here is a step-by-step video for further reference. This also includes steps to send Bitcoin to another Cash App user, but the steps to get Bitcoin on CashApp are early in the video:

Frequently Asked Questions

What is Bitcoin on Cash App?I

Bitcoin is a digital cryptocurrency that lives on a decentralized network. This means that it isn’t controlled by any one government or financial institution. With Bitcoin on Cash App, you can conveniently purchase, sell, or store Bitcoin like you would any other traditional investment. Buying Bitcoin via the Cash App app allows for simple and user-friendly transactions, making it easy for any amateur or expert alike to invest in the cryptocurrency.

Is it safe to buy Bitcoin on Cash App?

Yes, it is generally a safe bet to buy Bitcoin on Cash App. Cash App’s app utilizes a number of high-tech security and safety measures to protect your transactions and your personal information from cybercriminals and hackers. This includes two-factor authentication, encryption, and more. Nevertheless, it is always a good idea to take additional precautions to protect your Bitcoin investment (such as setting a strong, complex password and enabling two-factor authentication).

Does Cash App charge fees to purchase Bitcoin?

Yes, Bitcoin does come with additional fees when purchasing through Cash App. Cash App charges a user fee of as much as 1.76% when buying and/or selling Bitcoin. But, with that being said, Cash App doesn’t charge users any fees to transfer Bitcoin from one user to another. This means you can send money or crypto to friends and family with no additional fees.

Can you transfer Bitcoin from Cash App to an external wallet?

Yes, it is possible to send Bitcoin from your Cash App to an external wallet outside of the Cash App app. To do this, simply navigate to the “Money” tab on the home screen, then select “Buy Bitcoin.” From there, tap the “Withdraw” button. At this point, you can enter the recipient’s Bitcoin address — i.e. your wallet — and enter in the amount you want to send.

What happens to by Bitcoin on Cash App if I lose my phone?

If you lose your phone or can’t remember your Cash App login info, you will still be able to access your Bitcoin balance by contacting Cash App’s customer service department. Cash App’s customer service representatives will then be able to guide you through the process of recovering your account, regaining access to your funds, or recovering any lost investments. Even so, you should still prioritize protecting your login information and set up additional security measures like two-factor authentication to prevent loss or unauthorized access in the first place.

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