How to Buy Crypto on Cash App: Your Step-by-Step Guide for 2024

What is Cash App and How Does Crypto Work on It?

Cash App, developed by Block (formerly Square), is a popular mobile payment app that lets you send/receive money, invest in stocks, and crucially—buy and sell Bitcoin. Unlike traditional exchanges, Cash App simplifies cryptocurrency access by integrating it directly into its user-friendly interface. You can purchase, store, and transfer Bitcoin (BTC) with just a few taps, making it ideal for beginners. Note: As of 2024, Cash App only supports Bitcoin—no other cryptocurrencies like Ethereum or Dogecoin.

Step-by-Step Guide to Buying Bitcoin on Cash App

Follow these simple steps to purchase Bitcoin instantly:

1. Download and Set Up: Install Cash App from iOS App Store or Google Play. Sign up with your phone/email and link a debit card or bank account.
2. Verify Your Identity: Navigate to the profile icon > ‘Personal’ > submit a photo ID and personal details for KYC compliance (required for crypto).
3. Fund Your Account: Tap the Banking tab (💲 icon) > ‘Add Cash’. Enter an amount ($10 minimum for crypto).
4. Buy Bitcoin: Go to the Investing tab (📈 icon) > select ‘Bitcoin’ > ‘Buy’. Enter your purchase amount or use the slider.
5. Confirm and Complete: Review the transaction details (including fees) > swipe ‘Buy’ to confirm. Bitcoin instantly appears in your Cash App wallet.

Pro Tip: Enable notifications to track price movements and set up recurring buys for dollar-cost averaging.

Essential Tips for Safe Crypto Purchases on Cash App

• Enable Security Locks: Require Face ID, Touch ID, or a PIN for all transactions in Settings > Privacy & Security.
• Use Cold Storage: For large holdings, transfer Bitcoin to a private hardware wallet (e.g., Ledger) via the ‘Withdraw Bitcoin’ option.
• Verify Recipient Addresses: Double-check wallet addresses when sending BTC—transactions are irreversible.
• Monitor Fees: Cash App charges a variable fee (0.5%–2% per buy/sell) based on market volatility. Check the fee preview before confirming.
• Start Small: Test with $10–$20 purchases initially to familiarize yourself with the process.

Understanding Cash App Crypto Fees and Limits

Cash App imposes the following:

• Purchase Fees: Variable fee (typically 1%–1.76%) + a spread fee. Displayed transparently before purchase.
• Withdrawal Fees: Network fees apply when transferring BTC out of Cash App (dynamic based on blockchain congestion).
• Weekly Limits: Unverified users: $1,000 buy limit. Verified users: Up to $100,000 weekly after enhanced verification.
• Deposit Limits: $10 minimum purchase; $10,000 maximum per transaction.

Fees adjust in real-time—always review the breakdown during transactions.

What Cryptocurrencies Can You Buy on Cash App?

Currently, Cash App exclusively supports Bitcoin (BTC). Unlike competitors, it doesn’t offer altcoins like Ethereum or Litecoin. This streamlined approach focuses on accessibility for first-time buyers. For diversified crypto portfolios, consider linking Cash App to exchanges like Coinbase or Kraken.

Cash App Crypto FAQ: Your Questions Answered

Is Cash App safe for buying Bitcoin?

Yes, Cash App uses encryption, fraud monitoring, and optional two-factor authentication. Funds are FDIC-insured (up to $250,000 for cash), but Bitcoin itself isn’t insured.

Can I sell Bitcoin on Cash App?

Absolutely. Tap ‘Sell’ in the Bitcoin section, enter the amount, and funds deposit to your Cash App balance instantly (transferrable to your bank).

How long does a Bitcoin purchase take?

Purchases are immediate. Withdrawals to external wallets take 10–40 minutes (depending on Bitcoin network traffic).

Are there taxes on Cash App crypto?

Yes. Selling or sending Bitcoin may trigger capital gains tax. Cash App provides IRS Form 1099-B for taxable transactions over $600.

Can I use Cash App crypto internationally?

No. Crypto features are only available to U.S. residents with a verified SSN (excluding Hawaii and New York).

What if I send Bitcoin to the wrong address?

Transactions can’t be reversed. Always verify addresses before sending. Cash App isn’t liable for user errors.

Does Cash App have a crypto wallet?

Yes, it includes a built-in custodial wallet. For full control, withdraw to a non-custodial wallet where you manage private keys.

Final Thoughts

Cash App demystifies Bitcoin investing with its intuitive design and instant transactions—perfect for newcomers. While limited to BTC and U.S. users, its low barriers and robust security make it a top choice for casual investors. Always prioritize security practices, understand fees, and start with small amounts to build confidence. As crypto evolves, Cash App continues refining its offerings, potentially expanding support in the future. Happy investing!