How to buy Bitcoin with Cash App in 2023

This introductory guide explains how to buy Bitcoin with Cash App. Follow our simple three step guide to make your first purchase.
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Updated: Jan 25, 2023
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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

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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.

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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.

Pros

  • 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

Cons

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.

FAQs

Can I buy Bitcoin with Cash App on Coinbase?
Can I buy Bitcoin with Cash App on Binance?
How do I fund my crypto account with Cash App?
Can I buy Bitcoin with Cash App instantly?
Can I buy Bitcoin with Cash App anonymously?

Sources & references
Risk disclaimer

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 >

James Knight
Editor of Education
James is a lead content editor for Invezz. He's an avid trader and golfer, who spends an inordinate amount of time watching Leicester City and the… read more.