In a world of digital currency, there are several ways to buy cryptocurrency. Among the plethora of brokerage options available to you, you can also use Cash App, although it is currently limited to Bitcoin. The steps for buying Bitcoin on Cash App are simple, and here’s how it works.
Download Cash App
The first step in buying Bitcoin is having the financial capacity to do so, but more importantly a platform to buy it from. Commonly known for its P2P (peer-to-peer) payment functionality, Cash App also comes with an inbuilt feature to buy Bitcoin. Depending on your mobile operating system, you may want to access the Play Store on Android devices or the App Store on Apple devices.
Using the search function interface, type in “Cash App” and the app should appear as one of the top results. Simply download the app to your smart device and follow the prompts to create a Cash App account. Once you’ve created an account, you should be on the home page, which should look like the images above.
After downloading, you will be prompted to create a Cash App account when you first open the app.
Buying Bitcoin on Cash App
Now, in Cash App, click on the icon at the bottom right which has the shape of a “B”. Tapping on it will take you to Cash App’s Bitcoin page, which gives you information about the cryptocurrency itself. At the bottom of the page is a large To buy button which is rather hard to miss. Clicking the button does exactly what you think, although you will need to enter some personal information before completing your Bitcoin purchase.
Confirmation of your Bitcoin purchase
After following the prompts, you will come to a purchase page where you can choose the amount you wish to purchase and/or your order type. If you are a new user, you will be prompted to create a Cash PIN. This is to add a degree of security when accessing your account. After creating your PIN, you will be taken to a confirmation page with the value of your purchase in USD and the purchase amount in BTC. Just click To confirm at the bottom of the confirmation page if everything looks correct.
Is the Cash app good for new crypto investors?
There are tips every investor should know, but with the help of Cash App, you have the power of buying Bitcoin at your fingertips. To really protect your cryptocurrency, you need to transfer it to an external wallet or hardware wallet.
In the crypto world, if you don’t specifically own the crypto wallet, you never really own the cryptocurrency inside it. And that means that although Cash App is a respected company, they technically have more ownership of your Bitcoin than you do, at least until you send it to a non-custodial secure wallet.