How to buy, Sell & Withdraw Bitcoin Cash

Posted by Sara Shepard on January 14th, 2022

Who can buy Bitcoin with the Cash App?

How to by bitcoin on Cash App in all 50 states but it won’t be anonymously. The terms and conditions for virtual currency on the Cash App explains that for certain transfers of virtual currency or government-issued currency “you may be required to provide Square with certain personal information, including, but not limited to, your name, address, telephone number, e-mail address, date of birth, taxpayer identification number, government identification number, and information regarding your bank account (e.g., financial institution, account type, routing number, and account number), source of funds and employment.”

How to buy Bitcoin with the Cash App

1. Download the Cash App from either the Apple App Store or Google Play and install it.

2. Begin the sign up process with either a phone number or an email address.

3. Add a personal bank account number or a debit card to your account.

4. Enter your name.

5. Pick your unique $Cashtag. This is the unique username that you’ll be able to receive funds to. This is also where users can earn a referral code which gives them bonuses whenever a friend signs up using their unique referral code.

6. Add your address details.

 7. Funds must be added to your Cash App account before you can buy Bitcoin. From the home screen pick Add Cash and then decide the amount you want to add. To finalize the process a user needs to confirm their name, date of birth, social security number and home address. Once these details are loaded funds are can added to your Cash App balance.

8. To buy Bitcoin, tap the home screen and pick the Bitcoin option that sits just under Deposits & Transfers. Then pick the \\\'Enable Withdrawals and Deposits\\\' option. The Cash App now requests additional information such as your email, the reasons you are buying bitcoin, and questions about your income and employment. 

9. After verification is complete, to buy Bitcoin go the \\\'Investing\\\' section of the Cash App. On the next screen there is an option to pick either Bitcoin or stocks. Pick Bitcoin. You’ll then see a price chart of recent performance with a BUY button.

10. Hit the “Buy” button. You will have an option to either make a one time purchase or set up recurring purchases. Select an amount (in dollars not satoshis) to buy and hit \\\'Next\\\'. On the next screen hit “Confirm”.

11. On the confirm screen you’ll seen an overview of your order outlining the amount of BTC, the current spot price, fees to be paid and the amount of Bitcoin to be received. Users can then tap confirm to buy their BTC.

12. Once processed, select “done”. Users can then view their Bitcoin holdings using the Home tab. A user\\\'s wallet address is displayed which is needed to withdraw or deposit Bitcoin from an external Bitcoin wallet. Cash App users don’t have to trust a third party with their Bitcoin and have the option to withdraw their funds to a personal wallet and retain direct control of their BTC.