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Cash App: What It Is, How to Use and Trade Bitcoin

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Cash App, developed by Block, Inc. and currently available only in the United Kingdom and the United States, is a mobile payment service that allows users to transfer money to one another very easily using a mobile-phone app. Its was launched in October 15, 2013 and and known as “Square Cash“, it has grown more popular since then. In September 2021, the service reported 70 million annual transacting users and $1.8 billion in gross profit. You can download the Cash App HERE

How To verify your Cash App

NB: You’ll need to have a Social Security Number (SSN)

  1. Create a Cash App account.
  2. Tap on the Profile tab. You’ll find it in the top right corner.
  3. In the drop-down menu, you will see ‘Personal’. Tap on it.
  4. A new page will appear requiring you to enter your SSN, billing address, and other information. Fill in the information.
  5. All you need to do is wait to get approved. It will take about 24 hrs. You will get a confirmation and notification. Apart from being able to buy and sell BTC, you will be able to also enable Cash App direct deposit and trade Stocks.
  6. Once approved and verified, you can receive an unlimited amount in a month, and you will be able to send up to $7500 in a week.

How To Trade Bitcoin (BTC) ON Cash App

To start transacting Bitcoin on your Cash App, you need to enable Bitcoin in the app. However, before you can enable Bitcoin on your Cash App, your account needs to get verified, this we have already discussed.

Although you can use your Cash App without verification,  itwill not support Bitcoin trading. Unverified Cash App will also have some further limitations including

  1. You will be only allowed to receive $1000 in a month
  2. You will be limited to send a miximum of $250 in a week on the app.

BTC verification on Cash App

Once you have verified your Cash App, you can now enable BTC transactions within the app. Here is the steps to follow:

 

How to send Bitcoin via Cashtag

Sending Bitcoin via Cashtag is free and it is done within the app. Here are the steps to follow –

Note: if you input the recipient address or phone number and the person doesn’t have a Cash App account, the person will be notified to create an account so the payment can be accepted. If the person doesn’t create and verify the account within 14 days, your BTC will be refunded to you.

How to convert BTC to cash on CashApp

It is possible to convert your BTC to cash within the app, and it is very straightforward. The best part is that there are no restrictions so you can have access to your money at any time.

To convert your Bitcoin to cash, follow the steps below:

How to auto-invest bitcoin on CashApp

If you want to invest in Bitcoin then you can set up a schedule to automatically buy Bitcoin for you at a set price. With the frequent rally and drop of Bitcoin price, you won’t be able to get it at the same price every time, sometimes it will be higher, other times it will be lower.

Steps to set it up:

Steps to cancel it:

Conclusion

Cash App makes it easier for people to get access to Bitcoin, and the app is easy to operate. However Nierin may not be able to use the App becaue of the SSN needed, except you do have one, if you have lived or currently living in the United States or United kingdom



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