In this guide, you will find how to send btc on cash app explained in detail and a concise manner so that you can have everything you need to make the transition as seamless as possible. Bitcoin (BTC) is one of the most popular digital currencies around, and for people who use the digital application, Cash App by Square, Inc., the process of purchasing and selling BTC or even just transferring it is extremely simple.
Preparing Your Cash App for BTC Trade
The first step on how to send btc on cash app is to get your Cash App ready for Bitcoin transactions first here's how you can set up your Cash App:
After downloading the Cash App on your mobile device, open the Cash App, then, click on the Bitcoin icon.
After agreeing to the terms and conditions you complete the activities that will allow you to trade in bitcoins and make necessary configurations of the account.
You have to enter several personal details to pass you through an identity check.
After the setup is done, you can start purchasing BTC in the app or you can also transfer BTC from other wallets into Cash App wallet.
Purchasing BTC on Cash App
In case you do not have BTC, you can conveniently buy it through Cash App because the application is an official seller and you can follow these steps for purchasing BTC:
Click on the icon with the title ‘Bitcoin’ that is available in the Cash App.
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Type the desired amount of the investment in USD.
Check through the specific details of the transaction and finalize the purchase.
It is also important to note that Cash App deducts a small fee when you are purchasing BTC and this depends on the amount of BTC you intend to buy per the market price.
Transactions on BTC on Cash App
Since you now have BTC in your Cash App wallet, you can now get along with the steps on “how to send btc on cash app” and share BTC with anyone having a Bitcoin wallet address by following these steps:
After opening the Cash App, then select the “Bitcoin” tab in the Cash App.
Choose the “Send Bitcoin” tab on the screen.
Type in the wallet address of the recipient or scan his/her QR code.
For instance, to enter the value of the BTC you want to transfer, type the sum in the required format.
Check the fee history of the transaction, which will entail other network fees as well.
Approve the transaction using your Cash App PIN or by using Face/Touch ID.
First of all, one should confirm the wallet address of the recipient to ensure that your Bitcoin will go to the right person as transactions on the BTC are irreversible.
BTC is stored on the Cash App
Not only can you request and send Bitcoin, but you can also receive it using Cash App. Thus, to perform the transaction, you will need to disclose the Bitcoin wallet address within the Cash App to the sender and here's how you can find your wallet address:
Click on the option that is labelled as “Bitcoin” in the Cash App.
On the received page, click the button “Receive Bitcoin”.
The Cash App Bitcoin Wallet Address will be shown.
Forward this address to the sender using any device with the help of an email, or any messaging application.
After the sender completes the transaction, the BTC should be credited into your Cash App wallet provided there was no delay in the period expected for the transaction to have undergone the stipulated confirmations with regards to the current traffic on the network.
Security Considerations
As such, when dealing with cryptocurrencies such as BTC, one has to be very keen and secure to avoid losing money and here are some tips to keep in mind:
Turn on the two-factor authentication or 2FA on your account on the Cash App.
You should never give out your Cash App login information or backup code for your Bitcoin wallet.
Always make sure your mobile device and Cash App have the most up-to-date security updates.
One needs to be wary of forged emails or any other pleas for one to release personal or cash data.
Thus, by applying these best practices, you can protect yourself and your Cash App account as well as Bitcoins. One more important thing to be noted here is that if you are in search of a reliable and convenient service to get in-depth knowledge related to Bitcoins, then TOKENVIEWopen in new window is one of the innovative systems that include the advanced Bitcoin wallet, the portfolio account, the ability to track and analyze the market in real-time. Through TOKENVIEW, you will be able to analyze more secure methods to deal with Bitcoins.
Conclusion
To conclude about how to send btc on cash app, by reviewing the detailed steps provided in this guide it is clear that BTC transactions on Cash App are quite easy and can be made in a few easy steps. For those who already own some Bitcoins or for beginners who have perhaps heard of cryptocurrencies but do not know where to start, Cash App is one of the easiest platforms to use when it comes to Bitcoin transactions. As long as you use the steps mentioned in this article and emphasize security, you will be ready for Bitcoin transactions using the Cash App.
