Is It Safe to Buy Bitcoin on Cash App?

Cash App and Bitcoin Boosts. Every Cash App user has the ability to have a Cash App Cash Card. The Cash App Cash Card allows users to use their Cash App balance in the form of a debit or credit card at major retailers, coffee shops, restaurants, grocery stores, and more. Buying Bitcoin on Cash App – Bitcoin On Cash App If you do not already have the app, you can download it from the App Store or Android Play Store. Next, open the app and pick the preferred mode, either cash, dollars or BTC. If the options don’t show, swipe left or click on the BTC symbol at the top right-hand corner. Whenever you open Cash App, you will be directed to the same green screen you see after signing up. This is where you can request or send money. At the bottom of the screen to the right of the dollar sign there is a squiggly line. Click it and find your investing page.

Since its start in 2008, Bitcoin has revolutionized currency on a global scale. How we earn, view, and handle money has entirely changed. It seems like the only way we see a $10 bill now is in a birthday card from an old relative. We have completely transformed livelihoods and experiences and digitized them, including money.

Since Bitcoin is a decentralized financial system, unlike one we’ve ever seen before, it’s normal to have apprehension. However, we think it is absolutely safe to buy Bitcoin on Cash App, but let’s tell you why…

A Brief History of Cash App

How To Use Bitcoin On Cash App

In 2009, Jack Dorsey and Jim McKelvey launched Square, Cash App’s parent company. Square’s mission directly aligns with Bitcoin: to let everyone participate and thrive in a global economy. Square’s CFO stated that, “we believe that Bitcoin has the potential to be a more ubiquitous currency in the future.” Simultaneously, Bitcoin and Square are working towards an omnipresent currency system.

Since the app first launched for small businesses, merchants, and online buyers, Square has released multiple other products and apps as the company continues to grow.

Remember seeing the first product they released in 2010? The Square Reader? The Square Reader was the first product for merchants to attach to a smartphone or tablet. This revolutionized the payment processing world from a merchant standpoint. They could sell, and customers could buy their products anywhere at any time with minimal fees.

How To Send Bitcoin On Cash App

In 2013, Square launched another financial services platform: Cash App. Cash App allows individuals to send and receive money to one another via a mobile app. Since then, Cash App has grown to more than just sending and receiving money amongst friends. Now, you can invest, bank, and even donate to important causes. Cash App uses $cashtags to identify users.

Why mention all of this? Well, Square has been around for only a little over a decade and continues to make advancements in their technology including Cash App. Cash App is now the fastest way to convert dollars to Bitcoin. Square has made all of their products really easy to use for the average person; while still making it safe for both businesses and individuals.

Mobile and Hardware Wallets

Because Bitcoin puts YOU in charge of your money, it’s important that you move the Bitcoin you’ve bought on Cash App to a different wallet. Cash App is a great tool for sending and receiving Bitcoin, but it is important to move the Bitcoin to a mobile wallet, or better yet, a hardware system like Ledger or Trezor.

Why Choose Ledger or Trezor and Not the Mobile Wallet You’re Using?

How To Spend Bitcoin On Cash App

While most mobile wallets are convenient, affordable, and take little to no time to setup, they aren’t as safe as systems like Ledger and Trezor. Ledger has sold over 1,000,000 units since its start in 2014. It keeps all of your cryptocurrency safe and has no access to the internet, unless plugged in to your PC. Both support many of the same cryptocurrency. Currently, Ledger supports the cryptocurrency, Ripple, while Trezor does not. It does seem however, that Trezor has more advanced software, including links to Dropbox and an Android app, so no computer necessary!

Cash App and Bitcoin Boosts

Every Cash App user has the ability to have a Cash App Cash Card. The Cash App Cash Card allows users to use their Cash App balance in the form of a debit or credit card at major retailers, coffee shops, restaurants, grocery stores, and more. Most Cash App users and Cash Card users don’t know about Boosts because they are not automatically activated. Boosts also work differently depending on the retailer and location. Some are a percentage off of the entire purchase while other deals are a specific dollar amount off your total. Boosts can only be used once within a one-hour period. Some retailers will offer up to $20 off an entire purchase!

You can earn Bitcoin and Bitcoin Boosts through the Cash App Card as well. In the settings of your Cash App Cash Card, choose the boost associated with Bitcoin (if there is one available) and you’ll be able to receive Bitcoin on purchases made with your Cash App card. This is another way that the developers at Cash App have created a safe and effective way to earn, hold, and save Bitcoin.

“Sats Back” Boost

Through Cash App’s Investment platform, users can earn Bitcoin through the Cash App Boosts. Now, the drawback is that sometimes the Boost “reward” comes out less as Bitcoin than it would if an individual had used the Boost simply for a “cashback” advance. It’s interesting to note though and it is a smart and safe way for new users to begin investing in Bitcoin. If you’re wanting to get started and unsure how, download the Cash App and use the referral code MLWNVBZ to sign up with Cash App today. You can start investing, banking, and saving immediately. You’ll also have the opportunity to provide friends and family with a unique referral code that will help you earn right away!

Cryptocurrencies and Bitcoin, in particular, have changed the way people are saving, banking and investing. Square, Cash App’s parent company has made the proper technological advancements for their products and hardware systems to keep users safe. In fact, they have done more to start users on their Bitcoin journey with incentives like the Cash App, Cash App Card, and Bitcoin Boosts. So, what are you waiting for? Start today by using the referral code above and watch your money grow!

BONUS – Get $5 from Cash App for FREE!

Once you’ve downloaded the app, logged in and linked your bank account, let’s get you a $5 bonus. Open the app and click Settings in the top corner. From here scroll to the bottom of this page and click “Referral Code.” Put in the referral code “MLWNVBZ” to be eligible for the bonus. You’ll have 14 days to send $5, either as a lump sum or multiple payments to receive your bonus. From there, I just use that $5 to buy more Bitcoin. Enjoy