Cash App is one of the revolutionary apps which is used for the pee-to-peer transactions. But they did not limit themselves to the traditional currency, you can buy cryptocurrency Bitcoin from this app as well. Now you might be thinking – How to buy bitcoin with Cash App? And may be even what is bitcoin?
Well Bitcoin is the digital currency which might be known to every U.S adult by now. And each one of them is interested in buying some amount of it. But the problem they face are like where to buy them or which app should they trust. Cash App can be the option for you to buy the Bitcoin with simple, fast and secure way.
How to buy bitcoin with cash app?
You can buy the Bitcoin from the cash app quite easily but before you know about those simple steps lets have a quick intro of Bitcoin. So,
What is Bitcoin?
Bitcoin is the digital currency which was designed by the Satoshi Nakamoto (Unknown). The purpose of this currency was to replace the traditional currency and make more transparent way of currency exchange. Even though it is a decentralised currency and not controlled by the government, it has become quite popular.
But the problem arises with the benefits like – as it is not controlled by the government there were no proper platform to buy or sell these currencies. But now there are many platforms which can be used by to buy or sell this cryptocurrency. Cash App is one of the examples of those many platforms.
There are many benefits of using the bitcoin like transparency, decentralisation, elimination of banking fees. But there is one big problem and that is the volatile nature of bitcoin. The price of bitcoin can change very quickly, so you have to keep an eye on the market continuously.
How to buy Bitcoin with Cash App?
If you are using the Cash App for some time then you can easily buy the bitcoin. But if you have not used the app then you should follow the process step by step.
- Install the Cash App in your mobile phone (Android or iPhone).
- Sign up by submitting the information asked from you. This app is safe so there is no need for you worry about the privacy of the information you are entering.
- Once you have signed up you have to link your bank account to Cash App. After that only you will be able to do any transaction from the app.
- Once you are set with the cash app wallet and ready to buy the bitcoin you have to click on the wallet button at the bottom left of the screen.
- There you will be seeing different options in them you will find the bitcoin option as well click on that.
- Now enter the amount of bitcoin you want to purchase. Click on purchase option.
- It will ask your wallet password enter that and you have purchased the bitcoin.
Cash App provide you the option of selling the bitcoin as well. The process of selling the bitcoin from Cash App is similar to the buying. Once you have sold the bitcoin the money will be transferred in your cash app wallet within 30-40 minutes but sometimes it may take longer as well.
Points to remember while buying bitcoin
There are some points to understand while purchasing the bitcoin from the Cash App like:
- You will be charged some amount of money while buying the bitcoin. So, you will not be getting the exact amount of bitcoin you have invested.
- The charges can vary from one day to another the reason being the volatility of the price of bitcoin.
- With cash app you can buy up to $10,000 worth of bitcoin in any 7-day period. But there is no limit to the bitcoin you can sell.
So, the question – How to buy bitcoin with cash app? By now might have converted in to when to buy bitcoin? For that you have to keep an eye on the market and make the decisions according to that only.