how to purchase bitcoin on cash app

To purchase Bitcoin on Cash App, create an account or log in, verify your identity, link a funding source, navigate to the Bitcoin tab, enter the amount, confirm the details, and complete the purchase.

Oct 05, 2024 at 10:00 am

How to Purchase Bitcoin on Cash App

1. Create or Log into Cash App

• Download the Cash App on your mobile device.
• Create an account or log in to your existing account.

2. Verify your Identity

• Follow the in-app prompts to provide your personal information and upload your government-issued ID.
• Cash App requires this to comply with anti-money laundering regulations.

3. Link a Funding Source

• Connect your bank account or debit card to Cash App.
• This will allow you to transfer funds from your bank account to purchase Bitcoin.

4. Navigate to the Bitcoin Tab

• Tap the "Investing" tab at the bottom of the app screen.
• Select "Bitcoin."

5. Enter the Amount and Confirm

• Enter the amount of Bitcoin you wish to purchase in US dollars.
• Review the details of your order, including the price per Bitcoin and estimated fee.
• Tap "Preview Buy" to confirm your purchase.

6. Complete the Purchase

• If this is your first time purchasing Bitcoin on Cash App, you will be asked for additional information.
• Once all information is entered, tap "Confirm Buy."
• Cash App will process your purchase and add the Bitcoin to your Bitcoin balance in the app.

Additional Tips:

• Cash App charges a spread (difference between buy and sell prices) of around 2%.
• The minimum purchase amount is $1.
• You can store your Bitcoin in the Cash App wallet or withdraw it to an external wallet.
• It is recommended to research Bitcoin and the cryptocurrency market thoroughly before making a purchase.