How to Buy Bitcoin on Cash App

Cash App is a popular mobile payment app that lets you send and receive money instantly. But it’s more than just peer-to-peer payments; you can invest in stocks, buy Bitcoin, and even get a cash card for easy spending.

This blog provides a step-by-step guide on how to buy bitcoin on cash app. We’ll also discuss how to buy bitcoins on cash app with auto-investment or with custom orders.

How to Buy Bitcoin on Cash App – Step-by-Step Guide

Here’s a step-by-step guide to buy bitcoin on cash app:

Requirements

A Cash App account with verified identity.
Sufficient funds in your Cash App balance.

Steps:

Open the Cash App: Open the Cash App on your smartphone.
Tap the Money Tab: Find the “Money” tab on the home screen and tap on it.
Select Bitcoin: You’ll see a Bitcoin icon. Tap on it to proceed.
Press Buy: A “Buy” button will appear. Tap on it.
Choose Amount: You can select a predefined amount or tap the “…” button to enter a custom amount of Bitcoin you want to purchase.
Confirm Purchase: Review the purchase details, including the amount and total cost. Enter your PIN or use Touch ID to confirm the transaction.

How to purchase Bitcoin on Cash App – Tutorial

Step 1: Open the Cash App

Find the Cash App icon on your device’s home screen or app drawer.
Tap the icon to open the app.

Step 2: Go to the Bitcoin Tab

Once the app is open, you’ll typically see a home screen with various options.
Search for the “Money” tab or a similar icon. Tap on it.
You should see a Bitcoin icon or the word “Bitcoin.” Tap on it.

Step 3: Buy Bitcoin

You’ll see a screen with options to buy Bitcoin.
Tap the “Buy” button.
Choose the amount of Bitcoin you want to purchase. You can select from predefined amounts or enter a custom amount.
Review the purchase details, including the total cost in USD.
Confirm the purchase by entering your PIN or using biometric authentication (if enabled).

Step 4: Confirm Purchase

After entering your PIN or using biometric authentication, you’ll see a confirmation screen.
Review the purchase details one last time.
Tap “Confirm” to complete the transaction.

How to Buy Bitcoin on Cash App with Auto Invest

Auto Invest is a feature on Cash App that allows you to automatically purchase Bitcoin at regular intervals. This is a great way to dollar-cost average your Bitcoin investments, reducing the impact of market volatility.

Here’s a step-by-step guide on how to set it up:

Requirements

A Cash App account with sufficient funds.
Bitcoin enabled on your Cash App account.

Steps

Open Cash App: Launch the Cash App on your mobile device.
Navigate to Bitcoin: Tap on the “Bitcoin” tile on your Cash App home screen.
Initiate Purchase: Tap the “Buy” button.
Select Auto Invest: Instead of choosing a one-time purchase, tap the dropdown menu that says “Change Order Type.”
Choose Frequency: Select your desired frequency for automatic Bitcoin purchases: daily, weekly, or every two weeks.
Set Purchase Amount: Determine the amount of Bitcoin you want to purchase each time. You can choose from preset options or enter a custom amount.
Confirm: Review your Auto Invest settings and tap “Confirm” to finalize the setup.

Important Points to Consider:

Minimum Purchase: There’s a $10 minimum for Auto Invest purchases.Market Hours: Auto Invest orders are placed during market hours (typically 9:30 AM to 4 PM EST on weekdays).

How to Buy Bitcoin on Cash App with Custom Orders

Cash App’s custom order feature allows you to set a specific price at which you want to buy or sell Bitcoin. This can be a useful tool for investors who want to take advantage of price fluctuations.

Here’s a step-by-step guide:

Steps:

Open Cash App: Launch the Cash App on your mobile device.
Go to Bitcoin: Tap on the “Investing” tab and select Bitcoin.
Choose Buy or Sell: Decide whether you want to buy or sell Bitcoin.
Select Custom Order: Tap on the dropdown menu and choose “Custom Purchase Order” or “Custom Sell Order.”
Enter Amount: Specify the amount of Bitcoin you want to buy or sell.
Review and Confirm: Double-check the order details and tap “Confirm” to place the order.
Set Expiration: Determine how long you want the order to remain active.
Review and Confirm: Double-check the order details and tap “Confirm” to place the order.

Cash App Fees for Trading Bitcoin

There is no cost to send Bitcoin to other Cash App users, though other kinds of transactions will have a cost. Cash App has an open fee policy for buying and selling Bitcoin on its site. In the end, the bigger the transaction size, the smaller the percentage of fees that are paid. We’ve demonstrated this on the chart below.

Total Exchange Amount	Percentage Fee
$0 – $9.99	3%
$10 – $100	2.25%
$100.01 – $200	2%
$200.01 – $1000	1.75%
$1000.01 – $2000	1.5%
$2000.01 – $3000	1.25%
$3000.01 – $5000	1%
>$5,000.01	0.75%

Cash App can also have a small spread that ranges from 0% to 1%.

Withdrawal fees are determined by the speed you require the transaction to be processed along with a network transaction fee, as outlined below:

Priority (10 minutes or less): Network fees + extra fee up to $3

Rush (2 hours or less): Network fee + an extra fee of up to $2

Standard (typically 24 hours or less): Free

Is Cash App Safe to Use?

Yes, Cash App is a safe app to use, provided you use some essential security best practices. The app itself employs encryption to secure your personal and financial information so that your data remains secure. Cash App also offers two-factor authentication (2FA), which adds a second layer of security to your account, such that even if someone gets their hands on your login credentials, they won’t be able to use your account without the second step of verification.

But like with any money app, it’s important not to reveal sensitive information such as your account data, PIN, or passwords. Make sure you’re only sending money to individuals you know and trust, and authenticate their information if needed. Though Cash App has numerous security features, user attention is most important in keeping your account secure.

Why Utilize Cash App to Purchase Bitcoin?

Before heading into the procedure on how to purchase Bitcoin via Cash App, let’s touch briefly on the reason why using Cash App for purchasing Bitcoin through Cash App is such a wise choice:

Friendly User Interface : Cash App is easy for beginners to use, with a simple and intuitive interface. Whether you are thinking about how to make a first-time purchase of Bitcoin on Cash App or you’ve made one previously, you will find it easy.

Instant Purchases : When you choose how to buy Bitcoin on the Cash App, you can easily do so immediately with your connected bank account or debit card. This makes it easy to buy Bitcoin quickly without long processing times.

Security: Cash App offers advanced security features such as encryption and two-factor authentication (2FA) to help protect your Bitcoin transactions and holdings. This lets you relax and learn how to purchase Bitcoin through the Cash App.

Low Fees: In contrast to some other cryptocurrency platforms, Cash App is relatively inexpensive when it comes to fees on Bitcoin transactions. If you’re trying to find an affordable option for buying Bitcoin on Cash App, this website has an affordable solution.

Integrated Wallet: Cash App has a built-in Bitcoin wallet, so there is no need to have a separate crypto wallet. This option is ideal for users who are curious about how to purchase Bitcoin on Cash App and want to know that their Bitcoin is safely stored in the app.

By providing these options, the Cash App allows you to buy Bitcoin confidently and easily. If you are curious about how to buy Bitcoin on Cash App, this platform offers a secure, easy, and affordable method to begin investing in Bitcoin today!

Risks for Using Cash App for Trading Bitcoin

When trading in Bitcoin via Cash App, it’s great to know that there are some risks associated with dealing with cryptocurrency. By knowing and controlling these risks, you can make better decisions when trading Bitcoin on Cash App. Below are some risks to be mindful of:

1. Security Risks

Hacking & Phishing Attacks: Cryptocurrency exchanges, as well as wallets such as Cash App are often attacked by hackers. In the event that your account or personal details are stolen, you’ll end up losing your Bitcoin.

Account Access Risks: In case you lose access to your Cash App account (e.g., you forget your PIN or recovery information), you may lose access to and be unable to withdraw your Bitcoin.

2. Volatility of Bitcoin

Price Fluctuations: Bitcoin’s price is famously volatile. Bitcoin’s value may increase or decrease dramatically in the short term. If you are buying and selling on Cash App, you could see unexpected gains or losses.
Risk of Market Timing: Market timing is very hard. If you do not get market trends, you may end up purchasing Bitcoin at an elevated price or selling it during low market times.

3. Limited Control Over Bitcoin

Custodial Wallet: Cash App stores the Bitcoin you purchase in a custodial wallet, so they hold the private keys to your assets. This restricts your ability to control your Bitcoin as opposed to using a non-custodial wallet.
Withdrawal Restrictions: If you need to withdraw your Bitcoin to an outside wallet, there can be withdrawal restrictions and extra fees that limit its flexibility as opposed to using another exchange or wallet.

4. Transaction Fees

Hidden Charges: Cash App charges fees for buying, selling, and transferring Bitcoin, which vary depending on the market. Such fees may not always be made completely clear to you, potentially impacting the overall profitability of transactions.
Network Fees: In sending Bitcoin, extra fees can be incurred to pay for the transaction fees of the Bitcoin network, which change over time.

5. Regulatory Risks

Government Regulation: Cryptocurrencies like Bitcoin are regulated differently in different countries. Changes to regulations may affect your ability to buy, sell, or withdraw Bitcoin on Cash App.
Tax Implications: In most areas, Bitcoin transactions are taxable. Failing to know how to report your gains and losses on your taxes may cause problems later on.

6. Withdrawal Limitations

Transaction Limits: Cash App places daily and weekly limits on the amount of Bitcoin you can withdraw. This may restrict your access to your funds in a hurry if you urgently need them.
Processing Delays: Bitcoin withdrawals take time to process because of the network’s confirmation times, which can delay them.

7. Lack of Advanced Features

Limited Trading Capabilities: Cash App has an easy-to-use platform for exchanging and selling Bitcoin but does not have sophisticated features like stop orders, limit orders, and graphing tools as other platforms possess. This will not be preferred by more aggressive traders who might want to more actively manage positions.

8. No Customer Support

Limited Cryptocurrency Problem Support: When you face Bitcoin transaction or wallet problems, the support of Cash App might not give elaborate solutions for individual cryptocurrency issues, as they are largely a mobile payments app.

Mitigation Advice:

Two Factor Authentication: Activate Two-Factor Authentication (2FA) for extra security for your account.
Personal Wallet: Store greater amounts of Bitcoin in a Personal Wallet if you value security and control.
Appreciate the Volatility of Markets: Learn about the fluctuations in Bitcoin prior to making transactions.
Read the Terms: Ensure you know Cash App’s fees, limits, and withdrawal policies.
Stay Informed About Regulations: Stay current with how cryptocurrency regulations are changing in your nation.

FAQs

Cash App is a mobile payment and investment app that allows users to send and receive money, as well as buy and sell Bitcoin.

Cash App employs strong security measures to protect user funds and data. However, as with any digital platform, it’s essential to practice good security habits, such as using a strong password and enabling two-factor authentication.

No, Cash App provides a built-in wallet for storing your Bitcoin.

The amount of Bitcoin you can buy depends on your Cash App balance and the current Bitcoin price. There may also be purchase limits in place.

Cash App charges a fee for Bitcoin purchases. The exact fee may vary depending on the purchase amount.

Bitcoin purchases on Cash App are usually processed instantly.

If you want to sell Bitcoin on Cash App, here’s a simple guide:

Open the Cash App: Open the app on your device.
Tap the Money tab: This is usually at the bottom of your screen.
Select Bitcoin: You’ll see a Bitcoin icon. Tap on it.
Choose Sell: Tap the “Sell” button.
Enter Amount: Decide how much Bitcoin you want to sell. You can either select a preset amount or enter a specific value.
Confirm: Review the details of your sale and confirm the transaction.

Yes, you can buy any amount of Bitcoin on Cash App, even if it’s less than one whole Bitcoin.

Cash App offers support for additional cryptocurrencies beyond Bitcoin, such as Ethereum, Dogecoin, and Bitcoin Cash.

Conclusion

Cash App provides a user-friendly platform for both beginners and experienced investors. Its convenience and accessibility have made it a popular choice for those looking to explore the cryptocurrency market.

Buying Bitcoin on Cash App is a straightforward process. By following the simple steps outlined in this guide, you can easily purchase Bitcoin using your existing funds. Remember to start small, conduct thorough research, and prioritize security to make the most of your Bitcoin investment.