Yes, you can send bitcoin from Cash App to external bitcoin wallets or to other Cash App users. Cash App makes it easy to buy, sell, store, withdraw and send bitcoin straight from the app. Here’s what you need to know about sending bitcoin from Cash App:
Setting Up Bitcoin Wallet on Cash App
To get started with bitcoin, you first need to set up a bitcoin wallet on Cash App:
- Download and install the Cash App mobile app on your iOS or Android device.
- Sign up for an account and verify your identity by providing personal details like your name, date of birth and address.
- Once your account is set up, tap on the Investing tab at the bottom and select Bitcoin.
- You will now see the bitcoin wallet page. Tap on ‘Enable’ to create your bitcoin wallet on Cash App.
Buying Bitcoin on Cash App
Before you can send bitcoin from Cash App, you need to have a bitcoin balance in your wallet. Here are the steps to buy bitcoin on Cash App:
- From the Investing tab, select Bitcoin and tap on the Buy button.
- Enter the amount in USD that you want to spend or the amount of bitcoin you want to buy.
- Confirm your purchase. The purchased bitcoin will be added to your bitcoin wallet balance.
- You can also setup recurring daily, weekly or bi-weekly buys to gradually build your bitcoin holdings over time.
Sending Bitcoin to External Wallet from Cash App
To send bitcoin from your Cash App wallet to an external crypto wallet, follow these steps:
Step 1: Tap on the Banking tab in Cash App and select Bitcoin
This will bring up your BTC wallet page.
Step 2: Tap on ‘Send’
This will open up a page that allows you to send your bitcoin.
Step 3: Enter the amount in BTC that you want to send
You can also tap ‘Max’ to send your entire bitcoin balance.
Step 4: Paste the recipient’s BTC wallet address
Make sure the address is correct. An incorrect address will result in permanent loss of funds.
Step 5: Double check the details and confirm the transfer
This will submit the transaction and send bitcoin from your Cash App wallet to the external address.
That’s it! The transfer should process and confirm in 10-30 minutes.
Sending Bitcoin to Other Cash App Users
You can also quickly send bitcoin from your Cash App wallet to other Cash App users, even if they don’t have a bitcoin wallet set up. Here’s how:
Step 1: From your Cash App home screen, tap the profile icon in the top-right corner
This will show your $cashtag which is your unique Cash App ID.
Step 2: Share your $cashtag with the recipient Cash App user
You can text, email, or verbally share your $cashtag.
Step 3: Ask the recipient to open their Cash App, tap the Banking tab and select Bitcoin
Even if they don’t have a bitcoin wallet enabled, they will still be able to receive BTC.
Step 4: Tap ‘Request’ and enter your $cashtag
This will pull up your profile and bitcoin wallet address.
Step 5: Enter the amount in BTC to request and add an optional note
Step 6: Confirm the request. This will send you a notification for the BTC request.
Step 7: Open Cash App, go to your BTC wallet and tap ‘Send’ to complete the transfer.
That’s it! The BTC will instantly transfer from your wallet to the recipient’s Cash App account.
Things to Keep in Mind When Sending Bitcoin from Cash App
Here are some important points to remember when sending bitcoin from Cash App:
- Double check the recipient’s BTC or Cash App address to avoid sending funds to the wrong person. An incorrect address will result in permanent loss of your bitcoin.
- Be aware that bitcoin transactions are irreversible. Make sure all the details are correct before hitting send.
- Copy-pasting addresses helps avoid mistakes compared to typing them manually.
- There are no refunds or reversals once a bitcoin transaction is confirmed on the blockchain.
- Share the transaction hash with the recipient so they can easily monitor the transfer status.
- Bitcoin transfers from Cash App usually take 10-30 minutes but can occasionally take longer during times of high bitcoin network congestion.
- You will be shown the network transaction fee before confirming your transfer. Fees vary based on network conditions.
- For large amounts, it is recommended to first send a small test transaction before transferring the full balance.
The Benefits of Sending Bitcoin from Cash App
Here are some of the key benefits of using Cash App to send your bitcoin:
- Simple and convenient: Cash App provides an easy interface for managing bitcoin straight from your mobile device. Sending BTC takes just a few taps.
- Fast transfers: Transfers between Cash App users are instant. External transfers usually confirm in 10-30 minutes.
- Low fees: Cash App charges no deposit or withdrawal fees for bitcoin. Just standard network transaction fees apply.
- Secure storage: Your bitcoin funds on Cash App are stored offline in highly secure cold wallets. Private keys are encrypted and stored on users’ devices only.
- In-app support: You can easily get help from Cash App support if you encounter any issues with sending bitcoin.
- No lock-in: You retain full ownership of your bitcoin on Cash App. You can withdraw to external wallets whenever you want.
So in summary, Cash App provides a fast, convenient and low-fee way to send bitcoin to other users or external crypto wallets directly from your mobile device.
Frequently Asked Questions
Is sending bitcoin from Cash App safe?
Yes, sending bitcoin from Cash App is safe. Cash App uses industry best practices to secure your funds including offline cold storage of bitcoin in highly secure wallets. Your private keys are only stored on your mobile device and encrypted. As long as you take precautions like verifying addresses, there is minimal risk in sending BTC from Cash App.
Can you reverse a bitcoin transaction on Cash App?
No, bitcoin transfers on the Cash App cannot be reversed once they are published to the blockchain. This is standard for all bitcoin transactions. Make absolutely sure all the details are correct before hitting send as there are no refunds or reversals.
Will I be charged a fee to send bitcoin from Cash App?
Cash App does not charge any deposit, trading or withdrawal fees for bitcoin. You only pay the standard network transaction fee at the time of transfer, usually a fraction of a dollar. This fee varies based on the current conditions of the Bitcoin network.
How long does a bitcoin transfer from Cash App take?
In most cases, BTC transfers from Cash App to external wallets take 10-30 minutes to process and confirm on the blockchain. Transfers between Cash App users are instant. During times of heavy bitcoin network usage, transfers may take over an hour in rare cases.
Can I send bitcoin to wallets on other exchanges from Cash App?
Yes, you can withdraw your bitcoin from Cash App to any external crypto wallet address, including wallets on popular exchanges like Coinbase, Binance, Kraken etc. Simply copy-paste the recipient’s BTC address into Cash App to initiate the transfer.
Is there a limit on how much I can send from Cash App?
Cash App allows you to send up to $2,000 worth of bitcoin in a single transaction or up to $5,000 within a 7 day period. These limits may vary by user. To send larger amounts, you will have to request an increase to your limits or verify your identity by providing an ID.
How do I find my Cash App bitcoin wallet address?
Open Cash App, tap the profile icon on top-right, then tap Bitcoin. This will open your BTC wallet page which shows your $cashtag (Cash App ID) and bitcoin wallet address. You can share this address to receive BTC from external wallets.
Can I send bitcoin to someone internationally from Cash App?
Yes, you can send bitcoin from Cash App to anyone worldwide as long as you have their valid BTC address. Bitcoin functions like digital cash and can be transferred globally within minutes. However, the recipient must have access to bitcoin wallets and services to utilize the funds.
Is Cash App bitcoin wallet insured?
No, Cash App does not provide any insurance for bitcoin or funds held in your Cash App bitcoin wallet. Standard consumer protections like FDIC insurance do not apply to bitcoin. You are solely responsible for securing your own BTC funds on Cash App.