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How to Buy Bitcoin on Cash App
I bought $1 worth of Bitcoin on the cash app – Before you do anything else, you will want to buy some Bitcoin! You can purchase with Cash App for as little as $1. worth of Bitcoin at a time, and the app has an entirely separate tab for managing your coins.
- To access the Bitcoin tab, tap the Bitcoin figure located in the lower right corner of your Cash App home screen. Click the big, bright “Buy” button in the center of your screen.
- Select how much Bitcoin you’d like to purchase by selecting a set USD value or creating a custom order.
- If this is your first time buying Bitcoin on the Cash App, you’ll be prompted to enter more personal details for security purposes and set a PIN. If you make another purchase, you must enter your PIN.
- You’ll have a chance to confirm your order, where Cash App will break down any fees taken out with your purchase.
- Once your order is complete, you’ll be swept back to the Bitcoin tab. You’ll now see your Bitcoin balance front and center, along with a simple chart showing Bitcoin market fluctuation over the past week or so.
How to Retail Bitcoin on Cash App
The key to making money trading Bitcoin is to strike while the iron’s hot. On Cash App, you can sell Bitcoin quickly whenever you’d like or set up automatic sales when the value spikes.
From the Bitcoin tab, tap the centered “Sell” button.
The app defaults to a one-time sale, and you’ll be prompted to pick a value in USD that you’d like to sell. You can select a set value or create a custom one like the buying options.
Once you pick a value, you have to enter your PIN and confirm the sale. And that’s it! Your Bitcoin has been sent off, and your Bitcoin and USD balances will reflect the transaction.
Additionally, you can schedule sales to begin when the value of Bitcoin reaches a specific threshold. When you tap “Sell,” hit the “Change Order Type” button instead of selecting a one-time sale value.
On the next screen, tap “Custom Sell Order.”
On the following screen, you’ll see a graph tracking the value of Bitcoin (you can look at it by the day, week, month, or year). You can pick a Bitcoin price that will trigger a sale using the slider.
Once you have your value picked, tap “Set.”
Once that trigger figure hits, you’ll be asked how much you want to sell. Again, you can select a listed amount or a custom amount.
You’ll be prompted to set an expiration date for this trigger from a few options. Setting automatic sales can be great if you’re paying close attention to the market. But be aware — what you select is what you get. The sale will go through immediately once your target value is successful, even if the value keeps rising.
Once you set an expiration date. Cash App will fast you to enter your PIN and confirm the details before officially placing the automatic sale.
You can’t alter these rules once you set them up, but you can cancel them and set up different ones. To see what automatic sales you’ve set up, scroll down to the “Activity” section of the Bitcoin tab.
How to send Bitcoin on Cash App
Want to send some Bitcoin to a friend? Sending Bitcoin is just as easy as sending USD on Cash App.
- Cash App will default to sending USD. To switch to Bitcoin, tap the currency drop-down menu on your transaction tab.
- The currency menu will show you the balance in USD and Bitcoin. Tap Bitcoin to swap which currency you’re dealing with.
- Pick how much you’d like to send. The Cash App allows you to enter a value in USD and calculate the equivalent amount of Bitcoin. Transporting Bitcoin has a minimum, but only a few dollars. Once you’ve plugged in your number, tap “Send” at the bottom of the screen.
- Like a USD transaction, you’ll be prompted to pick a recipient from your contacts or enter a $Cashtag before confirming the transaction and sending it off.
How to Transfer Bitcoin between Cash App and other wallets
If you want to move funds around for any reason, withdrawing and depositing Bitcoin on Cash App through other cryptocurrency wallets is simple.
Before enabling blockchain transfers on your Cash App version, you must verify your account by providing personal details and a photo ID. If your account hasn’t been confirmed, there will be an option in the Bitcoin tab below your balance and the market chart.
From the Bitcoin tab, tap the send icon.
On the next screen, you can plug in exactly how much Bitcoin you’d like to withdraw from Cash App.
There are instructions to enter the wallet address to which you’d like to transfer your Bitcoin. You can manually enter or paste a wallet address on the screen that appears after you beat the “Send” button at the bottom of the screen. You can also scan a wallet address QR code by tapping the scan icon in the upper left-hand corner of your screen.
Once you enter a destination, you can pick a transfer speed for your withdrawal, each with different fees attached.
When you tap “Next,” you have to ask to enter your Cash App PIN and approve the transaction before finalizing it.
Using the Cash App, you cannot send Bitcoin to an incompatible wallet; it will simply display the error message “The address entered is invalid. While you should still verify addresses twice when transferring any cryptocurrency. This is a handy feature that can help prevent money loss.
From the Bitcoin tab, tap the “View Bitcoin Address” hyperlink below your other transfer option buttons.
You can scan this QR code, copy and paste your address elsewhere, or share it with a friend. Depending on your wallet. The deposit will look a little different — but you’ll need to put this address somewhere to improve Bitcoin to your Cash App account.
Cash App has a disclaimer on this screen, but it’s worth repeating: this address only supports Bitcoin. Suppose you try to send any other cryptocurrency to this address (even coins that are close to Bitcoin, like Bitcoin Cash or Bitcoin SV). And your wallet cannot identify incompatible wallets. If that’s the case, that money is gone forever.
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