Cash App is a mobile app platform that allows its users to make financial transactions online and via their mobile phones easily. Users participate in a peer-to-peer financial system that allows them to send money, transfer money, receive money, from their friends and family. Users also get the opportunity to trade in Bitcoin, invest in stock markets, and a host of other huge benefits. Bitcoin trading is absolutely possible on Cash App and Cash App has made it even easier for you!
Bitcoin is a crypto-currency that has come a long way from what cryptocurrencies used to be before. Cryptocurrency is a new type of money that has gotten really popular over the years. When you think about Cryptocurrency, chances are the first name that will come to your mind is Bitcoin. Bitcoin uses cryptographic equations to hold, create and transfer values that at the end of the day, can only be carried out once. Bitcoin is decentralized and hence, one single company / institution cannot control the network.
Cash App is owned by Square Inc. and it was founded in 2009. The Bitcoin trading feature was later introduced in 2015. Actually, Jack Dorsey who is the founder of Twitter, co-founded Cash App and it’s safe to say that Jack had some Bitcoin connections which made it possible to integrate both Cash App and Bitcoin together. So, if you are a Bitcoin trader, be rest assured that your Bitcoin trading transactions can be safely carried out on Cash App.
A Step-by-Step Process to Buy Bitcoin from CashApp
- First things first, get Cash App into your mobile device by downloading it.
To be able to do these instructions that we will soon outline, grab your phone and download the Cash App whether for Android or iOS. The app is available on the two platforms’ stores. Once you are done downloading, wait for the app to install completely.
- Now, open the app and sign up for a Cash App account if don’t already have one yet. If you have a Cash App account, don’t sign up. Instead “log in” or “sign in”. In order to sign up, you will be asked to supply either your phone number or email address in the fields. You will also be asked to enter your full name. Click to Continue.
- Now, link your new Cash App account with a means of payment. This could be your debit card or your bank account. Depending on the country you are applying from, a list of banks will be displayed to you. You choose your bank.
After this, you need to get a unique Cashtag. Your unique Cashtag is what
Your unique Cashtag is the name that is used to send funds to you. Without a Cashtag, you cannot receive funds. It is the Cashtag that the sender will input and its your unique name. Also, you should get your referral code which you can send to friends so that when they sign up to Cash App through your link, they get a sign-up bonus and you get a referral cash bonus too!
So, one you have done all of the above, you would have successfully installed Cash App. Now, how do you buy Bitcoin?
- Go to the Home Screen of the app. You will see the Cash App Request / Pay screen. You will see tabs for History, Investing etc. from the bottom down to the right. You need to first verify your identity in order to buy Bitcoin. You can do that by clicking on the Home Tab.
- Tap the “Bitcoin” option. A prompt will display for you to verify your identity. Just enter your name in full and your Social Security number. Once the verification is complete, you will receive a notification. The verification process can take up to a day or just some minutes.
- Once the verification is done, click on the “Investing” tab. Then tap on “Bitcoin”. Then in the performance charts of Bitcoin that is displayed to you, tap “Buy”. The weekly limit for Bitcoin purchase on Cash App is $100,000. So, you can buy $5 of Bitcoin or any amount you prefer.
- Once done, confirm your order and click “Done” once the order is done processing. Then you can go on to view your wallet balance in the Home tab.
And that’s it! You have successfully bought Bitcoin using Cash App