You can buy and sell bitcoin with your Cash App.

What is Bitcoin?

Bitcoin is the first and most well known example of a new kind of money called a “cryptocurrency.”

Ready to buy your first Bitcoin? Cash App is already the easiest way to send and receive money with friends and family. We’ve made it just as easy to buy and sell BTC straight from your Cash App balance. Unlike other apps, most of our buys and sells happen in seconds. You can even spend your proceeds from a free Visa debit card. CashApp is a custodial wallet. You didn't write any mnemonic seed, you don't control any private key. As it is always said: 'Not your keys, not your coins'. CashApp holds Bitcoin says that part of their bitcoin is 'yours', just like a bank. However, you are not required to withdraw bitcoin on Cash App. Leaving it in the Cash App wallet provides the convenience of being able to sell it at will. Keep in mind there is always an inherent risk letting others manage your bitcoin private keys. The accessibility of bitcoin through Cash App is second to none.

Buying Bitcoin

Purchasing bitcoin requires that you have a balance in your Cash App

Selling Bitcoin

You can sell bitcoin you've purchased directly in your Cash App.

Bitcoin Fees

Cash App may charge a fee when you buy or sell bitcoin.

Bitcoin & Taxes

Cash App will provide you with your Form 1099-B based on the Form W-9 information you provided in the app. It is your responsibility to determine any tax impact of your bitcoin transactions on Cash App. Cash App does not provide tax advice.

Bitcoin & Security

Cash App is PCI Data Security Standard (PCI-DSS) Level 1 compliant.

Bitcoin Withdrawals

You must have a balance of at least 0.0001 bitcoin to make a withdrawal. Transfers to external wallets usually take between 30–40 minutes but can take longer.

Deposit Bitcoin

You can deposit up to $10,000 worth of Bitcoin in any 7-day period.

Schedule Automatic Bitcoin Purchases

Is Cash App A Bitcoin Wallet

Setup automatic daily / weekly / bi-weekly purchases of Bitcoin

Still Need Help?

Our customer support is here to help.

Founded by Twitter’s CEO Jack Dorsey, Cash App has been one of the fastest-growing investing and payment platforms in the past few years, with having great features like the “cashtag”.

They did so great, that the Cash App has been one of the top finance and investing apps on both the Google Play Store and the iOS App Store; and this is knowing that they only currently operate in a few countries. Wait till they become available globally like PayPal!

With that said, is the Cash App safe to use for your Bitcoin purchasing and storage?

Buying bitcoin on Cash App

Square’s Cash App is definitely one of the leading finance and investing apps in the past few years due to its top-notch interfaces and great user experience; and along with that, an easy way to buy some bitcoin!

With that said, since it’s very easy to buy bitcoin on Cash App and there seem to be no issues with the buying side, we’d say that using Cash App to buy bitcoin is totally fine.

Storing your coins on Cash App

The Cash App is definitely a great app, and because the Cash App is not just some app that’s created by a shady company in the Bahamas, it’s fairly safe to assume that they’re taking security seriously and that they simply won’t run away with your money.

But take note, not because they seem secure, it doesn’t mean it’s going to be impossible for them to get hacked.

As we speak, there are currently 45 exchanges that have been hacked in the past 10 years; with exchanges such as Bitfinex, MtGox, and BitHumb, that were previously presumed to be “secure”, “safe”, and “unhackable” by bitcoin and cryptocurrency investors.

A better alternative.

Hardware wallets are small devices made specifically for securely holding your bitcoin and other cryptocurrencies. We heavily suggest using a hardware wallet instead, especially if you’re holding a significant amount of bitcoin and cryptocurrencies, as it’s definitely your best choice for holding funds without fearing of getting hacked.

Some great hardware wallets:

• Ledger Backup Pack (recommended)
• Ledger Nano X (recommended)

Is Cash App A Safe Bitcoin Wallet

Always remember: bitcoin transactions are final. Once the transaction has a few confirmations, there’s no way you can reverse the transaction. So yes, once a hacker gets a hold of your Cash App account and manages to take your bitcoin, it’s lost. Forever.

Withdrawing your coins

To withdraw your bitcoin from Cash App to your own hardware wallet, just follow these easy steps:

1. Tap the Banking tab on your Cash App home screen
2. Select Bitcoin
3. Press Withdraw Bitcoin
4. Scan a QR code address or press Use Wallet Address to enter one manually
5. Confirm with your PIN or Touch ID

Is The Cash App A Bitcoin Wallet

These instructions are courtesy of Cash App’s Bitcoin Withdrawals page.

Final Thoughts.

While storing your funds on a hardware wallet like we said is the best choice in terms of safety and security, it doesn’t mean you should empty out your Cash App.

Look at your Ledger hardware wallet as your bank account, and your Cash App as your physical wallet. Whereas you’d store most of your money on your bank account for safety reasons, and you’re only going to hold enough money to get you throughout a few days on your physical wallet.