In a world of digital currency, there are multiple ways to buy cryptocurrencies. Among the plethora of brokerage options available to you, you can also use the Cash App, although it’s currently limited to Bitcoin. The steps to buy Bitcoin on Cash app are straightforward and this is how it works.
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Download the Cash app
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The first step in buying bitcoin is having the financial means to do so, but even more important is a platform to buy it. Widely known for its P2P (Peer-to-Peer) payment feature, Cash App also has a built-in Bitcoin purchase feature. Depending on your mobile operating system, you should navigate to the Play Store on Android devices or the App Store on Apple devices.
From the search function interface, type “cash app” and the application should show up 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’ve created an account, you should be on the home page, which should look like the images above.
Downloads: Cash app for iOS | Android (both free)
Once downloaded, the first time you open the application you will be prompted to set up a Cash App account.
Buying Bitcoin in the Cash App
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Now in the Cash app, click on the icon at the bottom right that is shaped like a “B”. Pressing it will take you to Cash App’s bitcoin page, where you can get information about the cryptocurrency itself. There’s a big one at the bottom of the page Obtain button that’s pretty hard to miss. Clicking the button does exactly what you would think, although you will need to enter some personal information before you can complete your bitcoin purchase.
Confirmation of your bitcoin purchase
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After following the prompts, you will land on a shopping page where you can choose how much to buy and/or your order type. If you are a first-time user, you will be instructed to create a Cash PIN. This is for security when accessing your account. After creating your PIN, you will be taken to a confirmation page with your purchase value in USD and the purchase amount in BTC. Just click Confirm at the bottom of the confirmation page if everything looks correct.
Is the Cash App Good for First-Time Crypto Investors?
There are tips every investor should know, but with the help of the Cash App, you have the power to buy Bitcoin at the touch of a button. To really keep your cryptocurrency safe, consider transferring it to an external wallet or hardware wallet.
In the crypto world, unless you specifically own the crypto wallet, you never actually own the cryptocurrency it contains. And that means that while Cash App is a reputable company, it technically has more ownership of your bitcoins than you do — at least until you send them to a secure, non-custodial wallet.
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