How to buy Bitcoin on Cash App and withdraw it?

Setting Up Your Cash App Account

1. Download the Cash App from the official Apple App Store or Google Play Store.2. Launch the application and enter your full name, date of birth, and the last four digits of your Social Security Number for identity verification.3. Provide a valid U.S. mobile number and confirm it via SMS code.4. Link a bank account or debit card to enable funding and withdrawals.5. Complete the Know Your Customer (KYC) process by uploading a clear photo of your government-issued ID.

Purchasing Bitcoin Within Cash App

1. Tap the Bitcoin icon located on the home screen — it appears as a gold “$” symbol with a “₿” overlay.2. Select Buy to initiate a new purchase transaction.3. Enter the dollar amount you wish to spend or choose a preset value like $10, $25, or $100.4. Review the current exchange rate, network fees, and total cost before confirming.5. Tap Confirm Purchase; the Bitcoin will appear in your Cash App balance instantly.

Understanding Bitcoin Holdings in Cash App

1. Bitcoin held in Cash App is stored in a custodial wallet managed by Block, Inc., meaning users do not control private keys.2. You cannot import or export private keys, nor can you send Bitcoin to external wallets directly from the standard interface.3. The balance reflects real-time market pricing but is subject to internal valuation adjustments during high volatility.4. Transaction history is visible under the Activity tab, with timestamps, amounts, and fee breakdowns.5. There is no option to split UTXOs or customize fee rates — all transactions use default network parameters set by Cash App.

Withdrawing Bitcoin from Cash App

1. As of current functionality, Cash App does not support direct Bitcoin withdrawals to external self-custody wallets.2. Users may only sell Bitcoin back to USD and withdraw the fiat proceeds to their linked bank account.3. To initiate a sale, tap the Bitcoin tab, select Sell, then enter the BTC amount or USD equivalent.4. Confirm the sale; funds settle into your Cash App balance within seconds.5. Tap Cash Out to transfer USD to your bank — standard ACH transfers take 1–3 business days, while Instant Deposit incurs a 1.5% fee.

Frequently Asked Questions

Q: Can I transfer Bitcoin from Cash App to Coinbase?A: No. Cash App does not allow outbound Bitcoin transfers. You must sell Bitcoin for USD and then deposit that USD into Coinbase separately.

Q: Is there a daily limit on Bitcoin purchases via Cash App?A: Yes. Verified accounts have a weekly purchase limit of $100,000. Unverified accounts are restricted to $2,000 per week.

Q: Are Bitcoin transactions on Cash App taxable?A: Yes. The IRS treats Bitcoin as property. Every buy, sell, or use of Bitcoin for goods triggers a taxable event requiring capital gains reporting.

Q: Does Cash App charge fees for Bitcoin sales?A: Yes. Cash App applies a spread-based fee — the difference between the market price and the price shown in-app — rather than a flat commission. This spread varies depending on market conditions and trade size.