In a world of digital currency, there are multiple ways you can purchase cryptocurrency. Among the plethora of brokerage options you have, you can also use Cash App, though it is currently limited to Bitcoin. The steps in purchasing Bitcoin on Cash App are straightforward, and here’s how it works.
Download Cash App
The first step in purchasing Bitcoin is having the financial capability to do so, but more importantly a platform to purchase it. Commonly known for its P2P (peer-to-peer) payment functionality, Cash App also comes with a built-in feature to purchase Bitcoin. Depending on your mobile operating system, you’ll want to navigate to the Play Store on Android devices or the App Store on Apple devices.
Using the search feature interface, input “Cash App” and the application should show as one of the top results. Simply download the application to your smart device and follow the prompt(s) to create a Cash App account. Once you create an account, you should be at the home page, which should look like the images above.
After downloading, you will be prompted to set up a Cash App account when opening the application for the first time.
Purchasing Bitcoin on Cash App
Now, in Cash App, click on the bottom right icon that’s shaped like a “B”. Pressing this will bring you to Cash App’s Bitcoin page, which gives you information regarding the cryptocurrency itself. At the bottom of the page is a large Buy button that is rather hard to miss. Clicking on the button does exactly what you’d think, though you will need to enter some personal information before completing your Bitcoin purchase.
Confirming Your Bitcoin Purchase
After following the prompts, you will land on a purchasing page where you can choose how much you want to purchase and or your order type. If you are a first-time user, you will be directed to create a Cash PIN. This is to add a degree of safety when accessing your account. After creating your PIN, you will be brought to a confirmation page with your purchase value in USD and purchase amount in BTC. Simply click Confirm at the bottom of the confirmation page if everything looks correct.
Is Cash App Good for First-Time Crypto Investors?
There are tips that every investor should know, but with the help of Cash App, you have the power to purchase Bitcoin at your fingertips. To truly keep your cryptocurrency safe, you should transfer it to an external wallet or hardware wallet.
In the world of crypto, if you don’t own the crypto wallet specifically, you don’t really ever own the cryptocurrency within it. And that means that although Cash App is a respected company, they technically have more ownership over your Bitcoin than you—at least until you send to a secure non-custodial wallet.