Bitcoin has become one of the most popular and most used cryptocurrencies in the world. Dubbed the “king of cryptocurrency,” bitcoin has continued to rise not only in value but also in acceptance. You should also check out the latest bitcoin news so you never miss a thing!
The acceptance of Bitcoin as a legal tender and a store of value has also marked the turning point for the digital currency while also opening more doors in the financial and FinTech sectors.
However, the acceptance is not to say that Bitcoin and other cryptocurrencies do not have a long way to go on the global scale. This is because some countries have banned the use of digital currency based on the reported scams around it.
To make bitcoin a lot more secure for all to use, many more companies in the FinTech space are working hard. The security around blockchain technology has also improved over the years to offer a better guarantee to customers and owners of digital currency.
However, a new wave of ease has been added to the operation of the digital currency as Cash App, an online wallet, has made provision for its customers to use and send Bitcoin or BTC.
What is Bitcoin?
Many people in the year 2021 cannot claim to be ignorant of what bitcoin is, however, a large number of people can claim that they have never traded or owned any part of the digital currency. Now accepted in many of the developed countries, bitcoin holds the same value as money would and facilitates online transactions.
What is Cash App?
Cash App is designed to be an online wallet and payment platform that brings seamlessness to transactions between two or more people. The digital platform allows users to make fast and instant transactions from one end to another. With the Cash App platform, users can also cash out their money or money received to their bank instantly via the app.
Over the years, Cash App has grown and has integrated several new changes focused on improving the quality of the life of users. In the recent past, the company announced its partnership with PayPal thus allowing users to transfer their money from either platform to another.
More recently, the app has also announced its support for cryptocurrency thus allowing customers and users to easily buy bitcoins.
While many people may be relatively new to the support offered to customers to buy and sell bitcoin, one thing is certain, with the latest move by Cash App, more users will be integrated into the cryptocurrency system.
Buying Bitcoin With Cash App
Understandably, many may be on the lookout for information on how to use their Cash App to buy bitcoin. We have simplified the process of buying bitcoin with Cash App so that you can enjoy a seamless experience as facilitated by the company.
To buy bitcoin on your device using Cash App, launch the Cash App and then select the BTC and cash option at the top of the screen. You will then need to swipe right or left till you have selected the BTC symbol which is accessible via the top right corner of the app page.
You can then proceed to buy the amount of BTC of choice. However, you may need to select the slider or the swipe up so that you can have access to the panel to enter the amount of BTC you wish to purchase.
Once sure of the amount of BTC that you have entered or once sure of the Dollar equivalent of BTC that you wish to purchase, proceed to click on the buy BTC button in the app.
For security purposes, such a transaction as this will require that you confirm your ID and ownership of the account. This can be completed by entering your pin or using the Touch ID or face biometric option to authenticate the transaction.
It is important to note that if you have made an error in the purchase, whether you purchased BTC in error or for other reasons, you can also get the cash app refund. To be sure of what the refund entails, please read the refund policy as stated by Cash App.
How difficult is buying bitcoin from Cash App?
Being one of the most commonly used apps and online wallet, many users have found the experience of buying bitcoin using the platform a lot easier than they expected.
While buying BTC on the app is essential, a second close option is sending BTC to another user. To do this, all you need is to open the app on your phone or selected device, select the profile icon located on the upper left corner of the app page, scroll through the funds, and choose the BTC option. Be sure to confirm your identity before the withdrawal is initiated and you can then go ahead to scan the QR code of the destination wallet or you can select the option of entering the wallet address. Click confirm after this.