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?
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 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 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 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 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.
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:
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