If you’ve been investing in Bitcoin and are now looking to cash out your earnings, Cash App provides a convenient and straightforward way to do just that. With over 30 million active users, Cash App has become increasingly popular for its user-friendly interface and seamless transaction process. In this step-by-step guide, we’ll walk you through how to cash out your Bitcoin on Cash App and turn it into real-world currency.
Step 1: Set Up Your Cash App Account
Before you can cash out your Bitcoin, you’ll need to have a Cash App account. If you don’t already have one, you can download the app on your smartphone from the App Store or Google Play Store. Once you’ve downloaded the app, follow the instructions to set up your account. This will involve providing your email address, phone number, and creating a unique username and password.
Step 2: Link Your Bank Account or Debit Card
In order to cash out your Bitcoin, you’ll need to have your bank account or debit card linked to your Cash App account. To do this, open the Cash App and tap on the Profile icon in the top left corner. From there, select “Linked Accounts” and then choose whether you want to link your bank account or debit card. Follow the prompts to enter the necessary information and verify your account.
Step 3: Sell Your Bitcoin
Now that your Cash App account is set up and linked to your bank account or debit card, you’re ready to sell your Bitcoin. To do this, open the Cash App and tap on the “Investing” tab at the bottom of the screen. From there, select “Bitcoin” and then tap on the “Sell” button. Enter the amount of Bitcoin you want to sell and confirm the transaction. Cash App will then convert your Bitcoin into your preferred currency and deposit the funds into your linked bank account or debit card.
Step 4: Withdraw the Funds
Once the funds from the Bitcoin sale have been deposited into your Cash App account, you can choose to leave them there for future use or withdraw them to your linked bank account. To do this, open the Cash App and tap on the “Balance” tab at the bottom of the screen. From there, select “Cash Out” and choose the amount you want to withdraw. Confirm the transaction, and the funds will be transferred to your linked bank account within a few business days.
With Cash App’s simple and intuitive process, cashing out your Bitcoin has never been easier. By following these step-by-step instructions, you can turn your Bitcoin investment into real-world currency in just a few simple taps. Start cashing out your Bitcoin on Cash App today and enjoy the convenience and ease of use that millions of users already rely on.
Step 1: Set Up a Cash App Account
Cash App is a mobile payment service that allows you to send and receive money from your smartphone. To cash out Bitcoin on Cash App, you will need to have a Cash App account. Follow these steps to set up your account:
1. Download the Cash App
First, you will need to download the Cash App on your smartphone. The app is available for both iOS and Android devices. Go to the App Store or Google Play Store and search for “Cash App.” Tap on the app, and then tap “Install” to download and install it.
2. Sign Up for an Account
Once the app is installed on your device, open it and tap on “Sign Up.” You will be asked to provide your mobile phone number or email address. Choose the option that is most convenient for you and enter the required information.
Note: Make sure to use a phone number or email address that you have access to, as Cash App will send a verification code to either of these options.
3. Confirm Your Phone Number or Email
After entering your phone number or email, Cash App will send a verification code to the provided contact information. Retrieve the code and enter it when prompted in the app to confirm your account.
4. Link Your Bank Account or Debit Card
In order to cash out Bitcoin, you will need to link your bank account or debit card to your Cash App account. Tap on the profile icon in the top-left corner of the app, then go to “Cash” and tap “Add Bank” or “Add Card.” Follow the instructions to link your preferred payment method.
Note: Cash App may require you to go through a verification process for added security. This process may involve providing additional personal information or uploading identification documents.
Once you have set up your Cash App account and linked your preferred payment method, you are ready to proceed to the next step of cashing out your Bitcoin.
Create an Account and Verify Your Identity
To cash out Bitcoin on Cash App, the first step is to create an account if you don’t already have one. Download the Cash App on your mobile device from the App Store or Google Play Store, and then follow the prompts to sign up.
Once you’ve created an account, it’s important to verify your identity to comply with regulatory requirements. To do this, follow these steps:
Step 1: Tap on the Account Balance Icon
Open the Cash App and tap on the account balance icon located at the bottom center of the screen.
Step 2: Tap on “Cash & BTC”
Next, tap on the “Cash & BTC” icon located at the top of the screen.
Step 3: Select “Bitcoin”
In the “Cash & BTC” section, select “Bitcoin” to proceed.
Step 4: Tap on “Enable Withdrawals”
Scroll down and locate the “Withdraw Bitcoin” option. Tap on “Enable Withdrawals” to initiate the verification process.
Step 5: Provide Personal Information
Follow the prompts to provide your personal information, including your full name, date of birth, and Social Security number. Cash App will securely verify your information.
Step 6: Add a Bank Account
After verifying your personal information, you’ll need to add a bank account to Cash App. Tap on “Add Bank” and follow the instructions to link your bank account.
Step 7: Complete the Verification
Once you’ve added a bank account, Cash App may also request additional documentation for verification purposes. This may include a photo of your government-issued ID or a selfie. Follow the prompts and provide the necessary documents to complete the verification process.
Once your identity is verified, you’ll be able to cash out your Bitcoin on Cash App and transfer the funds to your linked bank account.
Step 2: Add Bitcoin to Your Cash App Account
To cash out your Bitcoin on Cash App, you first need to add your Bitcoin to your Cash App account. Follow these step-by-step instructions to do so:
Open the Cash App: Launch the Cash App on your smartphone. If you don’t have the app, you can download it for free from the App Store or Google Play Store.
Access your Cash App wallet: Once the app is open, log in to your Cash App account using your email address or phone number and your unique password. You should land on the home screen of the app.
Tap on the “Cash & BTC” icon: At the bottom-center of the home screen, you’ll see a row of icons. Tap on the second icon from the left, which says “Cash & BTC.”
Select “Bitcoin”: On the following screen, you’ll see a list of your available balances, including any Bitcoin you currently have. Tap on the “Bitcoin” option to proceed.
Tap on “Deposit Bitcoin”: Now, you’ll see a screen with different options related to your Bitcoin. Tap on the “Deposit Bitcoin” button to start the process of adding Bitcoin to your Cash App account.
Access your Bitcoin address: On the next screen, you’ll see a unique Bitcoin address associated with your Cash App account. This address is necessary for transferring your Bitcoin from an external wallet to Cash App. You can either scan the QR code or copy the address manually.
Transfer Bitcoin: Use your external Bitcoin wallet to send the desired amount of Bitcoin to the address provided. Make sure you double-check the address to avoid any mistakes.
Wait for confirmation: After you initiate the transfer, it may take some time for the network to confirm the transaction. Be patient and keep an eye on your Cash App account for updates.
Congratulations! You’ve successfully added your Bitcoin to your Cash App account. Now you’re ready to proceed with the next step of cashing out your Bitcoin.
Link Your Bitcoin Wallet to Cash App and Transfer Funds
If you want to cash out your Bitcoin on Cash App, you’ll need to link your Bitcoin wallet to your Cash App account. Here’s a step-by-step guide to help you transfer funds:
- Open the Cash App on your mobile device and log into your account.
- Tap on the “Banking” tab located at the bottom of the screen.
- Scroll down and select “Bitcoin” from the list of available options.
- Tap on the “Deposit Bitcoin” button.
- You’ll be presented with a Bitcoin address. Copy this address to your clipboard.
- Open your Bitcoin wallet and initiate a transfer.
- Paste the Cash App Bitcoin address as the recipient of the transfer.
- Enter the amount of Bitcoin you wish to transfer and confirm the transaction.
- Wait for the transfer to be completed. This may vary depending on the network congestion and transaction fees.
- Once the transfer is confirmed, the Bitcoin balance will appear in your Cash App account.
Now that your Bitcoin wallet is linked to Cash App and the funds are transferred, you can proceed with the cash-out process. The transferred Bitcoin can be converted to cash within the Cash App and withdrawn to your linked bank account or used for other purposes within the app.
It’s essential to double-check the Bitcoin address before initiating the transfer to avoid any mistakes or loss of funds. Always ensure that you’re sending the Bitcoin to the correct address provided by the Cash App.
Remember that cryptocurrency transactions are irreversible, so it’s crucial to take extra precautions and understand the risks involved when transferring your Bitcoin. Additionally, keep in mind that Bitcoin prices can fluctuate, so it’s advisable to monitor the market conditions before making any transactions.