12 Jun Learn to buy and sell Bitcoin on Cash app
There are 7 million active users of the Cash app successfully using this application currently and the count is still increasing. It is one of the instant money transferring applications used in US countries. Customers can activate Cash cards to pay at various merchants accepting visa cards. It also provides an online wallet through which users can buy and sell bitcoin. The trading of cryptocurrency is the best way to earn profit in the United States.
Bitcoin is a decentralized digital currency that can be purchased and sold via an online platform. It is one of the best ways to invest money and earn a good amount of profit. Customers usually sell this digitized currency when the market price of these currencies is high. You can buy and sell bitcoin easily on the Cash app by the below methods.
The process to buy bitcoin on Cash app:
- Open the Cash app and go to the “Investing” tab. Customers can identify the investing tab by a rising curve. There you will see “Buying stocks” and “Bitcoin” options.
- Click on the Bitcoin option to bring your Bitcoin holdings.
- Tap on the “Buy” button and select the amount from the suggestion. You can also buy the bitcoin of the custom amount. Tap on the “Three dots” located on the below right corner to enter the custom amount and press “OK”.
- A popup screen will appear with the transaction details like the amount of Bitcoin, exchange rate, and fees are mentioned on it.
- Click on the “Confirm” tab to complete the purchase.
The process to sell bitcoin on a Cash app:You can either sell or send the bitcoin to your friends.
Follow the below steps to sell the bitcoin:
- Open Cash App and click on the “Banking” tab available on the Cash App home screen.
- Select “Bitcoin” and then click on “Withdraw Bitcoin”.
- Scan the QR code or enter an amount by selecting “Use Wallet Address”
- Confirm the payment with a PIN or Touch ID.
- The selected amount of bitcoin is sold and the payment will be transferred to your Cash app wallet.
Points to remember while selling bitcoin:
- You have to create an account on the bitcoin exchange and have money in the digital wallet.It is important to have a minimum balance of 0.001$ in your bitcoin wallet to sell or purchase bitcoin.
- You can withdraw up to $2,000 worth of bitcoin in a time period of every 24 hours and up to $5,000 in a week.
- The buying and selling price of bitcoin may vary on the different platforms according to the exchange rate. The price margin is the difference between the current market prices of bitcoin and the price at which you have purchased it.
- Keep the focus on market capitalization to earn more profit while selling bitcoin.
- You should have your own trading strategy to buy and sell bitcoin on the Cash app.
- Make sure to read the terms and conditions while confirming the bitcoin payment.