Cash App presents a quicker and more convenient way of sending Bitcoin to another Cash App user or external wallet. This mobile payment platform has enabled peer-to-peer transactions and specially made Bitcoin trading more manageable and accessible, allowing for selling, buying, and sending cryptocurrency.
The platform tags along with a digital wallet that supports traditional currency, and you can use it to store funds and make purchases. The application can also enable you to invest in exchange-traded funds and stocks and has become indispensable for business transactions. If you’ve ever wanted to engage this platform in your Bitcoin transactions, it’s only natural to want to know your way around it.
The most significant Cash App advantage is that it can be relatively straightforward to use and, with guidance, you can send Bitcoin anywhere, hassle-free. This article will guide you through sending Bitcoin using Cash App to another Cash App user or external wallet.
What is Cash App?
Cash App became the much-needed savior for Bitcoin traders who wanted to make peer-to-peer exchanges more effortless. However, it works in a general sense that allows everyone to send and receive funds. Understanding how to send Bitcoin on Cash App is a no-brainer for anyone looking to trade the cryptocurrency.
Formally known as Square, Inc. and launched on October 15, 2013, Cash App has become one of the centrally used platforms by cryptocurrency traders. Much of what makes it convenient is its availability for mobile; it’s downloadable on application storages, including the App Store and Google Play Store, and it is easy to install and use. The platform continues to serve its primary purpose: facilitating currency exchanges and storage, making it a viable tool for Bitcoin traders.
How to Send Bitcoin Using Cash App
You can use Cash App to Send Bitcoin to anyone, whether another Cash App user or an external wallet user. Both processes are virtually similar, differing slightly on where you use the application’s username or Bitcoin address. Below is the comprehensive process for sending Bitcoin via Cash App, broken down into the essential steps.
1. Open Cash App Application
Open and launch the Cash App on your phone if you’ve already downloaded the application. It’d be best to ensure that your application is up-to-date and runs on the latest version to access the best features. However, if you haven’t obtained it yet, you can download it from the App Store if you’re using an iOS phone or Google Play Store if you’re using an Android phone.
2. Find and Tap The “Cash” Bottom Before Tapping “Bitcoin”
Find the dollar ($) symbol on the bottom center of the screen that comes up after launching the Cash App. Tapping this symbol should take you to the payment menu, where you’ll enter the amount you want to send before selecting Bitcoin. Here’s how to purchase Bitcoin if you don’t already have it in your account.
- Click the “Money” button: Check the area of your screen showing your Cash App balance to locate this button. It should be on the far left across the bottom of the screen.
- Choose “Bitcoin”: Check the area under “Cash Balance” to locate this button. Click and open to a head to a new window.
- Determine the amount and purchase your Bitcoin: Before purchasing your Bitcoin, ensure it reads “One Time Order” to avoid automatically recurring purchases. Then, head to the “Buy” section around the Bitcoin Historical Chart and News on Cash App before selecting “Next.”
- Confirm your purchase: You’ll get a prompt to enter your PIN and confirm your Bitcoin purchase.
Once you’ve purchased your Bitcoin, please proceed with the following steps to send them to your targeted recipients.
3. Enter the Recipient’s $Cashtag
A $Cashtag automatically creates a shareable URL that your recipient can use to verify the completion of your transaction privately. It’s a unique identifier that every Cash App user has, and your recipient should have one. You can still use your recipient’s email address or phone number if you don’t have a $Cashtag.
Please note that when sending Bitcoin to an external wallet other than Cash App, ensure you enter your recipient’s Bitcoin address instead of their $Cashtag.
4. Complete the Transaction by Clicking “Send”
Your transaction should be complete now and only requires you to click “Send” to transfer your Bitcoins to your Recipient. You should find the blue “Send” button at the bottom of the screen.
5. Precautions When Sending Bitcoin Via Cash App
Although sending money on Cash App can be straightforward, carefully approaching the process helps avoid costly mistakes. Common transactional mishaps include failing to verify your recipient’s details, including the Cash App username. That can get your Bitcoin down the drain, especially if it goes to the wrong Recipient.
It’d also help to keenly verify the amount you intend to send before hitting the “Send” button. Wrong calculations and typing errors can occur, leading to unintended Bitcoin transactions.
One mistake that most novices may make is not considering the exchange rates when sending Bitcoin over Cash App. Market and stock exchange fluctuations can cause exchange losses, making Bitcoin trading less profitable. It’s also prudent to consider current transfer fees to avoid using up your Cash App wallet funds.
Final Thoughts
Sending Bitcoin via Cash App can be straightforward if you understand your way around it. However, despite such ease, it’s prudent to be more meticulous to avoid making mistakes. Thanks to its simple user interface, ease of navigation, and improved security, Cash App can be the go-to option to send, receive, and store your funds.
