How to Buy Bitcoin on Cash App and Send: Your Complete 2023 Guide

Introduction: Bitcoin Made Simple with Cash App

Cash App has revolutionized cryptocurrency access, letting you buy, sell, and send Bitcoin in minutes. With over 44 million active users, it’s one of the easiest gateways into the crypto world. This step-by-step guide covers everything from setting up your account to securely sending Bitcoin to external wallets. Whether you’re a first-time buyer or optimizing your crypto strategy, you’ll master the process with confidence.

Prerequisites for Buying Bitcoin on Cash App

Before purchasing Bitcoin, ensure you have:

• A verified Cash App account (requires SSN and ID)
• Linked bank account or debit card
• Updated app version (iOS/Android)
• Enable Bitcoin withdrawals in settings (under “Bitcoin” → “Withdraw Bitcoin”)

How to Buy Bitcoin on Cash App: Step-by-Step

1. Open Cash App: Log into your account on mobile
2. Access Bitcoin Section: Tap the “Investing” tab (graph icon) on the home screen
3. Select “Buy”: Choose Bitcoin from the crypto options
4. Enter Amount: Type USD amount (min $1) or swipe to adjust
5. Review Fees: Check the displayed service fee (typically 1%-2%)
6. Confirm Purchase: Tap “Confirm” and authenticate with PIN/Touch ID

Pro Tip: Enable recurring buys under “Schedule Recurring Buy” for dollar-cost averaging.

How to Send Bitcoin from Cash App: Step-by-Step

1. Go to Bitcoin Tab: Navigate to “Investing” → “Bitcoin”
2. Tap “Send”: Select the paper airplane icon
3. Enter Recipient Details: Type wallet address or scan QR code (double-check characters!)
4. Specify Amount: Enter BTC or USD value (min 0.0001 BTC)
5. Verify Network Fees: Confirm miner fee (dynamic based on congestion)
6. Complete Transaction: Authenticate and tap “Send”

Warning: Transactions are irreversible. Always test small amounts first.

Key Fees and Limits to Know

• Buying Fee: 1.5%-2% per transaction
• Withdrawal Fee: Variable Bitcoin network fee (avg. $1-$5)
• Weekly Buy Limit: $10,000 (unverified) → $25,000 (verified)
• Withdrawal Limit: $2,000/day, $5,000/week

5 Essential Security Practices

1. Enable two-factor authentication
2. Whitelist withdrawal addresses in settings
3. Never share your 12-word recovery phrase
4. Use a dedicated email for crypto accounts
5. Verify recipient addresses character-by-character

Frequently Asked Questions (FAQ)

Is Cash App safe for Bitcoin transactions?

Yes, Cash App uses encryption, biometric login, and FDIC insurance for USD balances. However, Bitcoin isn’t FDIC-insured—store large amounts in hardware wallets.

Can I send Bitcoin to Coinbase or Binance?

Absolutely. Use the external wallet address from your exchange account. Go to “Receive BTC” on Coinbase/Binance, copy the address, and paste it in Cash App when sending.

Why is my Bitcoin withdrawal delayed?

Delays occur during network congestion. Cash App processes withdrawals in batches. Typically completes in 10-120 minutes. Check status under “Activity” tab.

Are there taxes on Bitcoin transactions?

Yes. Selling or sending crypto may trigger capital gains tax. Cash App issues 1099-B forms for transactions over $600. Consult a tax professional.

Can I cancel a Bitcoin transaction?

No. Blockchain transactions are irreversible once broadcasted. Double-check all details before confirming.

Conclusion: Your Gateway to Crypto Freedom

Cash App demystifies Bitcoin with its intuitive interface, letting you buy and send crypto in under 5 minutes. While fees are slightly higher than exchanges, the convenience is unmatched for beginners. Start small, prioritize security, and soon you’ll navigate the crypto landscape like a pro. Ready to dive in? Open Cash App and make your first Bitcoin purchase today.