How do Bitcoin work on the cash app? Looking at the header, definitely, you would ask yourself how possible can this be. Yes, you can really use the cash app to buy Bitcoins. However, you can make use of square cash to sell and buy Bitcoins.
With this app, you can make instant cash transactions with family and friends. So selling and buying Bitcoins is made easier using this app.
How Do Bitcoin work
But before I talk about how Bitcoins works on the cash app, I will let you know what Bitcoins is all about. What are Bitcoins? Bitcoins are money that is a form of cryptocurrency. It is also known as a payment network which in some cases can be used to exchange goods and services.
Furthermore, this is regarded as a peer-to-peer medium through which you can exchange goods and services. This entails that this service cannot be controlled by a single institution.
You definitely need to download the app for you to be able to purchase or sell Bitcoins on the square cash. Which means no cash app no Bitcoins purchase? Exactly! To get the app downloaded on your device you need the below procedure to get the app into your device.
Cash App Download
You need this app installed on your device for you to be able to make use of the square cash network for your purchasing and selling of Bitcoins. You get this app both on your android device or iOS devices. This app is instantly free to download. Just open up your play store or app store to get the app downloaded on your device.
- Proceed to open the app store/play store.
- Make use of the search bar and type in cash app. The app is indicating a dollar icon on the screen.
- Click on the app and proceed to the “install menu”. After you must have installed the app, you can proceed to sign up for an account.
Cash App Sign up Process
- Type in your email address or you can make use of your mobile number.
- Click on “Next” and wait for the verification code.
- Key in the verification code right in the box and click on “Next”.
- Choose how you want to make use of the app by selecting in between “business” and “personal” tab.
- Now link your bank account. Once you are done, you need to create a hashtag. This bears the name of the person’s account. However, if you want to set your account name, open the app.
- Tap on the icon at the top left of the page.
- Hit on “pick your unique name” and enter the name you want to use (hashtag).
- Click on set once you are done entering the name.
- Now put on “cash me”.
How to Withdraw Bitcoin Using Cash App
- Move to the cash app home screen and click on “balance” tab.
- From the list, click on “bitcoin”.
- Still select “withdraw Bitcoins” option.
- Now you need to enter you QR Code address by hitting on “use wallet address”.
- Provide your pin or confirm your ID.
From this, you have enabled your Bitcoins withdrawal option so that you can make use of square cash to withdraw Bitcoins. For you to be able to withdraw, you must have at least 0.001 Bitcoins balance. Get ready to withdraw about $5,000 within 7 days.