How to Send Bitcoin on Cash App [Fast Guide]
With the Cash app, you can effortlessly send bitcoins to any cashtag or Lightning-compatible wallet in a matter of seconds. No fees, no hassle, just seamless transfers at your fingertips.
To send bitcoin to any $cashtag (this is also called a peer-to-peer (P2P) transaction):
- Click on Cash App Pay pad
- Click the USD toggle, then choose BTC
- Make sure you enter at least $1, then tap to pay.
- Locate the cash tag of your recipient, the current number of their phone, or email address
- Tap Pay
You can also send bitcoin using Lightning or the Bitcoin Network.
- Select the Money tab from the Cash App home screen.
- Tap on the Bitcoin tile
- Press the Airplane button.
- Choose Send Bitcoin
- Input the amount as well as the cashtag of the recipient’s account or BTC address.
- Tap Next
- Choose a speed
- Tap Confirm & Send
Sending bitcoin from the main payment pad:
Images are provided for illustration purpose only. They do not constitute an offer to buy
Limits
The process of sending Bitcoin does have some limitations that you should be aware of. We suggest checking your limits and keeping track of your limits’ progress often.
You are able to see your daily and monthly limits within the app.
- Tap the profile icon
- Tap on Limits
Limits roll and accrue for any 7-day interval or for a 30-day time frame. Limits are tallied until a payment has been made.
Bitcoin Gifts
If you transfer bitcoin with the Cash balance or linked credit card, your recipient will get the amount in USD, which can be used for purchasing bitcoin.
Some common ways people gift bitcoin are:
- Paying bills, splitting the bill and other expenses with relatives or friends
- Giving and appreciation
- Helping friends or family get involved in bitcoin
When you receive a bitcoin gift, you have two options:
- Take bitcoin If you accept the gift, you will use the money you received for the purchase of bitcoin. If you’re not sure of your identity using Cash App, then you’ll be required to verify your identity prior to accepting the gift. Once you have received the bitcoin you have earned, you are able to keep, sell, or even withdraw it at any point.
- Decide to decline bitcoin Deleting bitcoin gifts adds donation in USD (instead from bitcoin) to the Cash balance. Keep in mind: Bitcoin gifts expire after three weeks. If you do not select one of the choices above, the present is canceled, and the money is returned to the gift’s balance in cash as USD.
Things to be aware of:
- Bitcoin sending: There are no taxes or fees to consider when gifting bitcoin or stocks. Simply put, you are sending USD allocated to a certain bitcoin or stock. It is important to note that you are able to send bitcoin only to people who are over 18.
- Accepting Bitcoin: When you receive a bitcoin-based gift in the same way as above, an order will be placed for the purchase of the bitcoin that was sent. Cash App could have a tiny fee if you sell or purchase bitcoin. If it is, the amount is listed on your confirmation of trade before you finish the transaction.
- Selling bitcoin could result in tax consequences. If you are unsure about the specific tax consequences of selling bitcoin, then you must consult with an expert tax consultant.
