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How to buy Bitcoin with Cash App in 2023
79% of retail CFD accounts lose money
Firstly, the most important question to answer is: can I buy Bitcoin with Cash App?
Yes, you can buy crypto on Cash App. Or you can use Cash App to fund a trading account and buy Bitcoin that way.
You just need a crypto exchange that accepts Cash App deposits. And we’re here to help.
How to buy Bitcoin with Cash App – a step-by-step guide
It takes about 15 minutes to buy BTC with Cash App. Have a copy of your photo ID to hand and follow this guide to get started.
Step 1. Sign up with eToro
We recommend eToro as the best platform to use to buy BTC with Cash App.
Step 2. Create an account
You need an account before you can buy anything. Sign up with your contact details and a form of ID for verification.
Step 3. Make a deposit via Cash App
Enter how much you want to deposit and select Cash App as your payment method from the list of options.
Step 4. Use the search box to find Bitcoin
Use the search box on the home page to search for Bitcoin and the currency you want to pay in (such as GBP).
Step 5. Make your purchase
Enter how much Bitcoin you want to buy, check the details and process the transaction. Once the payment goes through, your new Bitcoin will show up in your exchange account.
Top Bitcoin platforms that accept Cash App
1. eToro. Best for beginners, copy-trading & demo-account
Pros & Cons
We love eToro because it makes it simple to trade crypto at home or on the go. If you’ve never bought cryptocurrency before, then eToro makes it simple to buy 75+ of the leading coins, including the likes of Bitcoin, Ethereum, and Dogecoin. Every crypto trade comes with a flat 1% fee, which makes it one of the cheapest crypto brokers on the market to boot.
As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see what’s trending on the crypto market every day, browse the latest technical analysis about every one of those tokens, and copy other people’s trade suggestions from your desktop or the eToro app.
The fees: You will be charged a 1% fee every time you buy or sell crypto. The charge is included in the market price that’s displayed on eToro. CFD trades may be charged an overnight or weekend fee if you leave the position open.
2. Public. Best for sharing beginner trading ideas
Pros & Cons
We love Public because it’s a social platform where you can share trading tips and get ideas from other people. Public offers 9,000+ financial instruments, including cryptocurrencies and stocks from around the world.
Alongside a community of other investors all sharing their ideas, Public offers real time news and information so that you can see the full picture before you invest. And the assets don’t just include your run-of-the-mill assets; you can make alternative investments in things like handbags and comic books as well.
The fees: Cryptocurrency trades are charged a 2.5% fee per transaction.
3. Bitstamp. Best for professionals & trading with APIs
Pros & Cons
We love Bitstamp because it has a proud reputation for top performance over more than decade. Bitstamp offers trading on 75+ cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, while staking is available on Ethereum and Algorand.
Bitstamp was one of the first crypto platforms to set up shop in 2011 and has built up trust since. It’s designed with institutional traders in mind, so it prides itself on near 100% uptime. It stores 95% of assets in cold storage and offers a sliding scale of fees so that high volume traders get the best rates.
The fees: There are no trading fees if you trade less than $1,000 in a rolling 30-day period. Above that, fees start from 0.4% and decline the higher your trading volume is. There is a 15% charge for staking. Withdrawals are charged a flat €3 fee.
Quick answers to key questions
Can I buy crypto with Cash App?
Yes, you aren’t limited to buying Bitcoin alone. The only limit is which coins are available on the exchange you’ve chosen. Most crypto exchanges that support Cash App as a payment method offer 50+ cryptocurrencies and many offer hundreds more.
Is Cash App safe?
Yes, it’s completely safe to use Cash App. The only risk to look out for is to make sure you sign up to a regulated Cash App Bitcoin broker when buying Bitcoin. Using an unregulated broker platform can put your money at risk.
How much does it cost to buy Bitcoin via Cash App?
Between 1-2% of the trade value. The cost varies depending on the current Bitcoin price and market volatility, with higher fees the more volatile the market is.
This is because Cash App charges fees in the form of a spread, the difference between the buy and sell price, rather than as a flat rate fee.
Can I store Bitcoin in my Cash App account?
Yes. Cash App can store Bitcoin, and it promises to keep your crypto in secure cold storage to make sure it’s safe.
Cash App isn’t as secure as having your own crypto wallet but it is more convenient and user-friendly. While we recommend you transfer Bitcoin into a wallet, if you regularly buy and sell Bitcoin then holding it in your Cash App account might be a better option.
Why don’t more crypto platforms support Cash App?
Not all crypto platforms have the functionality to support deposits from Cash App. However, you can use your linked card anywhere that accepts card payments, so the fact Cash App isn’t widely accepted is not much of a barrier to buying Bitcoin.
Should I buy Bitcoin using Cash App?
Cash App is convenient and easy to use to get Bitcoin if you already have an account. You can buy, sell, and store Bitcoin on Cash App, and you don’t need to create accounts anywhere else.
The drawbacks are the fact that you can only buy Bitcoin – no other cryptos are available yet – and the fees are higher than you’ll find elsewhere.
Here are the pros and cons of using Cash App to buy Bitcoin.
- Simple to buy Bitcoin through Cash App
- Store Bitcoin in your Cash App account
- Transactions take place over the Lightning Network and are extremely fast
- Easily send Bitcoin to your friends from the app
Is there an alternative to buying cryptocurrency with Cash App?
There are plenty of alternatives, whether you want to pay through an online payment provider or go down a more traditional route. Here are some of the different ways to pay for your Bitcoin purchase.
- Buy Bitcoin with Afterpay
- Buy Bitcoin with American Express
- Buy Bitcoin with Apple Pay
- Buy Bitcoin with bank transfer
- Buy Bitcoin with cash
- Buy Bitcoin with Cash App
- Buy Bitcoin with Discover Card
- Buy Bitcoin with gift card
- Buy Bitcoin with Google Pay
- Buy Bitcoin with Neteller
- Buy Bitcoin with Payoneer
- Buy Bitcoin with PayPal
- Buy Bitcoin with Paysafecard
- Buy Bitcoin with Paytm Wallet
- Buy Bitcoin with Revolut
- Buy Bitcoin with Skrill
- Buy Bitcoin with Swish
- Buy Bitcoin with Venmo
- Buy Bitcoin with Zelle
- Buy Bitcoin with Zippay
No, Coinbase does not accept deposits via Cash App.
Yes, you can buy Bitcoin with Cash App on Binance.
Go to the account settings to make a deposit. Enter the details and choose Cash App from the list of payment options. If it is available, you’ll then be asked to add your Cash App account details before confirming the payment.
Yes, Cash App processes Bitcoin transactions over the Lightning Network, so they take place almost instantly. The Lightning Network makes Bitcoin transactions faster and cheaper.
No, you have to provide details like your social security number in order to set up a Cash App account. You may also have to take a selfie to verify your identity.
It’s not possible to create an account without providing some level of personal information.
More ways to buy cryptocurrency
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >