You can send and receive money on Cash App within a few minutes, but can you make free money on it? Let’s be honest; we all have thought about this at some point. The answer is, yes, you can earn free money on Cash App in many ways!
However, it can be tricky considering the number of scammers active on the app. You can expect to receive texts, emails, or calls from unknown users trying to lure you into different frauds under the “free money” tag.
So, the question is: how can you make some extra bucks on Cash App while avoiding scams? The key is ignoring suspicious or too-good-to-be-true offers and focusing on the most realistic earning techniques. You must always confirm every bonus or offer from Cash App’s official website.
Cash App allows you to avail of direct deposits, stock investments, Bitcoin trading, social media contest prizes, and much more. All these are the most authentic ways to make money on Cash App. But what are some other ways?
Follow the below steps to get started.
Step 1: Earn Sign Up Bonus
Cash App offers $5 to users just for signing up! When you sign up from your friend’s referral, you and your friend can earn a bonus. You can invite your family member to install the app and send them at least $5. Then, ask them to enter your referral code while transferring this amount back to you. This way, both of you can receive the bonus!
For this technique to be successful, You must add your debit card to Cash App during the sign-up step. After that, initiate a minimum transaction of $5 within the first 14 days of making the account.
To sign up, Cash App needs your contact number or email ID to send a verification code. You will then have to enter that code in the app, add your bank account, enter your $Cashtag, and provide your ZIP code to proceed. Give the app a few minutes, and your account will soon be created.
Once you’re signed in, follow the below steps in the next two weeks:
- Tap the profile icon at the top-right side of your home screen.
- Now, tap on Referral Code on the next screen and enter the code.
- Pay $5 to someone in the first 14 days of account creation. For that, return to your homepage and choose Bank from the extreme left side of the bottom menu.
- Type in the amount, tap Pay, enter the recipient’s details, and press the Pay button again to complete the transaction.
Once the transaction is successful, the money will be deposited to your and your friend’s account instantly.
Step 2: Refer Cash App in a Big Community
A referral bonus is the easiest way to get free money on Cash App, but did you know you can make $2,000+ with this technique? If you get $15 for each referral sign-up, you must convince a minimum of 135 people to use your code to create an account. Of course, for many, it’s totally impossible to have this many friends.
In such a situation, you must build an online community and send your referral code to hundreds of people. Yes, all of them won’t sign up, but there is a high chance many of them will. After all, they can earn $5 for signing up and making a transaction.
This is quite popular, with people referring to it as a “Cash App referral code hack.” But how can you execute this technique to earn free money on Cash App? Here is how:
- Make a YouTube channel, grow an audience, and ask them to use your referral code to enjoy unique financial features on Cash App.
- Gain followers on Instagram and Facebook and invite them to Cash App with your referral code.
- If you run a business, you can ask your customers to pay you on Cash App via your referral code. Imagine how much you can make for each sign-up and transaction! This is, hands down, one of the best ways to earn legitimate free money on Cash App.
- If you don’t own a business, you can send your referral code to a friend and ask them to sign up and make payments. Then, request them to forward your code to their friends and ask them to do the same. This way, you can reach a broader range of people and increase your chances of earning more rewards.
Step 3: Make Free Money on Cash App With Direct Deposits
Another way of making free money on Cash App is setting up direct deposits to your account. With this technique, you can save up to $100 by buying your favorite items with your Cash Card. However, your income must total $300 monthly or 30 days to be eligible for this discount.
Cash App also offers a $50 extra fee when you fulfill the exact requirements of $300 minimum direct deposits in a month, totaling $150. You can easily set up direct deposits of your paychecks on Cash App. You only need your unique routing number and account details to use this feature. Alternatively, you can also submit a deposit form with your employer.
Step 4: Use Cash Card Boosts
If you’re a loyal Cash App user, you may already know about the Cash Card and its benefits. It’s Cash App’s Visa debit card that can be used at any store that supports Visa debit cards. You can use it just like a standard debit card. So, how can you make free money on Cash App with it? By activating Boosts!
With Cash Card Boosts, you can avail of numerous discounts at participating stores, restaurants, and merchants. Cash App restricts users to have one Boost activated at a time. However, you can change your Boosts whenever you like from the app.
Using Cash Card Boosts will help you earn continuous bonuses on your debit card for making purchases. Typically, you can save between 5% to 15% at the participating merchants, including:
- 10% off every order at Starbucks
- 5% per order at Burger King
- 5% off online ordering from Sam’s Club
- 20% off every order at DoorDash
- 10% off every order at Instacart
- 5% per 10 online purchases at Adidas
- 10% off buying at PlayStation Network (PSN)
- 10% off purchasing from Xbox
Cash App is enhancing its “Boost” feature daily to help users save more and more money.
Step 5: Invest in Stocks or Shares
Are you a stock market pro? If so, Cash App is no less than heaven for you!
The app allows users to invest money in different companies by buying their Exchange Traded Funds (ETFs) or stocks. With ETFs, you can diversify your investment portfolio in multiple areas outside of just stocks. This leads to lower risks of loss and higher chances of making free money on Cash App.
But what if you don’t know a thing about the stock market? You can quickly learn the basics from Cash App’s free book about investments. It is available at the bottom of the stocks screen.
To get started, visit any company’s stock profile in Cash App and see its performance in the market. Then, hit Buy and enter the amount starting from $1.
Remember, you must be 18 years or above and living in the U.S. to be able to invest in the stocks. You’ll need a brokerage account to start your investment journey, which the U.S. government will regulate to track your income with your social security number.
Step 6: Enter Cash App-Sponsored Sweepstakes and Giveaways
Social media platforms are excellent for making free money on Cash App. You should follow Cash App’s official accounts on Instagram, Facebook, and Twitter to stay up-to-date about any upcoming contest or giveaway. In case you don’t know, Cash App frequently organizes social media competitions of sweepstakes to persuade more and more people to sign up.
The company shares a teaser on its accounts in the form of videos, links, and images to guide users on how to participate. Ensure to follow every instruction, such as using a particular hashtag or tagging your friends in the comments. You’d also have to use your $Cashtag in the post.
Cash App chooses the winners from the received entries and sends free money to them in multiple forms (stocks, Cash App Balance, Bitcoin, etc.). The more you participate, the more you will likely win. This may not be the most reliable way to earn free money on Cash App, but it’s worth a try.
Step 7: Invest in Cryptocurrency
Cash App supports Bitcoin (BTC) trade and investments. The company has made the process super-easy by allowing users to invest in certain shares of Bitcoin instead of investing in a whole. You can even purchase one cryptocurrency for just a dollar!
This policy is because one Bitcoin may cost anywhere between $20,000 to $60,000. So, investing in an entire cryptocurrency may be risky, especially for beginners. But even if you’re a pro-crypto trader, you’re still not entirely safe from the instant ups and downs in the market. The graph will break the bars at one minute and dip the next. You can never predict the trend!
Cash App also charges a certain fee when you sell your Bitcoin. Whether selling or buying, the fee will vary depending on the current market fluctuations. You can also activate the Bitcoin Boost on your Cash Card to make more free money on Cash App.
Just buy something with the card, earn a reward as Bitcoin, and sell the crypto to get cash. Simple!
Step 8: Get Reimbursements on ATM Fees
You can use the Cash App Cash Card at any ATM, but it has a specific withdrawal limit of $1,000 per day and week and $1,000 for every transaction. There is also an ATM fee of $2.50 that applies to every ATM withdrawal.
Fortunately, Cash App offers users reimbursement for setting up a direct deposit of $300 a month minimum. You will get one free withdrawal at non-network ATMs and unlimited at all-network ATMs every 31 days or thrice a month.
So, you can make $10 free money on Cash App a month even if you initiate an ATM withdrawal once a week. That’s amazing, no?
Cash App vs. Other Transfer Apps
Cash App has become one of the world’s most popular money transfer apps since it was introduced in 2013, now hosting over 36 million users. Here are some ways that it compares against its major competitors:
- Instant Transfers: Cash App allows money to be instantly transferred from your account to another user, unlike Zelle which is not always instant
- Investing: Cash App is the only money transfer app allowing users to invest their money through simple stock options and Bitcoin. PayPal, Zelle, and Venmo do not offer anything similar.
- Low Fees: Cash App has similarly low fees as its competitors, but charges less on average than Zelle for transaction fees.
You can make free money on Cash App in various ways. The easiest is signing up on Cash App, making a transaction of $5 minimum, and getting $5 as a bonus. You can also ask your friends, family, or community to sign up on Cash App with your referral code and send $5 to someone. It will help them earn $5, and you can make $15 per sign-up!
Some other ways to get free money on Cash App are investing in shares, selling and purchasing Bitcoin, and participating in social media contests. You can also direct deposit your paychecks and avail of Cash Card Boosts to save a considerable amount at the participating merchants.
- Apple Pay vs Venmo: What’s The Difference, And Which One Should You Use? — We’ve compared two of Cash App’s biggest competitors to give you more options.
- How to Transfer Money From Venmo to Cash App: Step-by-Step Guide with Photos — Refer to this quick guide for moving money from a Venmo to a Cash App account.
- How Does Cash App Work? — If you’re new to money transfer apps, we’ve created a simple user guide for Cash App.
The image featured at the top of this post is ©24K-Production/Shutterstock.com.