BUY AND SELL BITCOIN BY USING CASH APP
REGISTRATION
When downloading the Cash App, you need to register an account first. Once you do that, you'll receive a confirmation code. Enter this code to start the process. The full instructions are here:
- Download the application
- Enter your mobile number or email address
- Input the verification code that you will receive to your email address or to your mobile phone via an automated text
- Enter your debit card details and your bank information (you can skip this step and add it later)
- After finishing this step, you need to pick a $Cashtag which is your unique username
- Enter a zip code
- Now you can start to complete the registration process
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BUYING BTC
After downloading the Cash App, in your main window you can see the option for buying Bitcoins. When you select it, you have multiple options on the screen to choose from.
- Get Bitcoin
- Buy Bitcoin
You need to select the second option. Note that you have to tap "Buy Bitcoin" again, then enter the amount. The minimum is $1. Next, you need to specify the amount that you want to buy. If it's a higher amount, you can enter a custom value. Then press "Next".
You will be redirected to the confirmation screen. Check the full details of the transaction which will be displayed. If it's correct, confirm it to complete the process.
SENDING BITCOIN ON CASH APP
By following the previous steps that we are going to tell you, you are ready to send and receive Bitcoin through Cash App. To do so, you need to open the Cash App and click on the banking tab on the main screen. After that, you need to select the Bitcoin and press the "Withdraw BTC" tab.
Then you will have two options for withdrawal:
- Scanning a QR code
- Entering down the wallet address manually
After completing the steps to indicate exactly how to send the BTC out, the funds will go out. Cash App allows you to withdraw up to $2000 of Bitcoin per day and $5000 per week. The withdrawal process takes up to 30-40 minutes as you are going to transfer the BTC to an external wallet.
HOW TO RECEIVE AND CONVERT BTC
If you want to receive Bitcoin to your external wallet (Cash App wallet), all you need to do is go to the banking tab on the main screen. Then, you need to select Bitcoin and press the deposit BTC icon. After this, you can scan, copy or share your Cash App Bitcoin address with an external wallet to receive the funds.
After completing this step, you always confirm your payments to receive the funds. After the funds are sent to your Bitcoin address, all you need to do is go to the main page on your home screen. From that, you need to tap on "Bitcoin" and select "Sell". Then, you can select an amount of Bitcoin you want to sell, and at the end in order to confirm the process, you should enter your Cash PIN and tap "Confirm".
VERIFICATION
To freely enjoy the crypto services of the Cash App, you need to verify your account. Without verification, the limits for your transactions are capped up to $250. This includes both sending and receiving crypto. The limit goes much higher once you verify the account. On the other hand, if you verify your account, the limit increases to $7,500 per week for crypto purchases.
So, how to pass verification?
By following these steps, you can easily access verification program and clarify your account on Cash App. First of all, when you are logged into the Cash App, you need to choose the balance of your Cash App or tap on the "Profile" icon. Then, you need to tap "Crypto" section and tap "Enable Withdrawals and Deposits". You will be asked to verify your personal details:
- The purpose of using Cash App
- Your source of income
- Your employment status
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