How to Send Bitcoin on Cash App

Cash App supports Bitcoin! But newbies might be confused about how transactions work. We've got the complete guide on how to send Bitcoin on Cash App to help.

Cash App, developed by Block, Inc., is a simple app that lets you send and receive money, pay bills, and shop. But for crypto investors - the standout feature is how seamlessly it handles Bitcoin. You can send Bitcoin to anyone’s $cashtag, phone number, or email in just a few taps via both the regular Bitcoin Network and the faster Lightning Network. This guide walks you through how to send Bitcoin on Cash App, along with some extra tips for managing your transactions.

How to send Bitcoin on Cash App

Sending Bitcoin through Cash App is a great way to handle peer-to-peer transactions. With P2P, you exchange assets directly with someone else, with no banks involved. Here’s how to send Bitcoin via Cash App:

1. Set up Cash App: If you don’t already have Cash App, download it and set up an account. Make sure you link a funding source, like your bank account or debit card, to buy Bitcoin.

2. Go to the Bitcoin section: Open the app and navigate to the Bitcoin section by tapping the "Investing" tab at the bottom. Then, select "Bitcoin."

3. Select “Send”: Once you’re in the Bitcoin section, tap the “Send” button.

4. Enter the recipient’s $cashtag: Type in the recipient’s $cashtag or pick them from your contacts. Double-check the $cashtag for accuracy before proceeding.

5. Input the Bitcoin amount: Decide how much Bitcoin you want to send. You can enter the amount either in Bitcoin or in your local currency, and the app will convert it for you.

6. Choose your network: Cash App lets you choose between the Bitcoin Network and the Lightning Network. Select whichever works best for your situation.

7. Confirm your transaction: Review the transaction details, including the recipient’s $cashtag and the amount of Bitcoin you're sending. If everything looks good, tap “Confirm.”

8. Transaction complete: Once you’ve confirmed, Cash App will handle the Bitcoin transfer. You’ll get a notification when it’s done.

Note: The steps are the same whether you’re using an iPhone or Android. Some menu appearances might vary slightly depending on your device or software version.

Managing Bitcoin limits on Cash App

Cash App has limits on how much you can send and receive, so it's important to keep track of these limits to avoid any surprises. You can check these by:

1. Opening Cash App and logging in.

2. Tap your profile icon in the top-left corner.

3. Scroll down and select “Cash Support.”

4. Search for “Limits” and select the relevant option.

5. View your weekly and monthly limits for sending and receiving money.

6. Track your usage to ensure you don’t go over your limits.

Read next: How to get free money on Cash App

Can you send Bitcoin on Cash App without verification?

No, you’ll need to verify your identity before using Cash App for Bitcoin transactions. This means providing your full name, date of birth, and the last four digits of your Social Security number. In some cases, Cash App may also require a photo ID, like a driver’s license.

This verification process is in place to comply with financial regulations and ensure safe transactions.

Read next: Best Crypto Exchanges With No KYC

How does Bitcoin work on Cash App?

With Cash App, you can easily buy, sell, send, and receive Bitcoin. You can even set up automatic investments, like turning spare change from Cash Card purchases into Bitcoin.

You can withdraw your Bitcoin anytime, and choose how quickly you want it transferred. If you’re using the Lightning Network, it’s fast and free.

Bitcoin Cash App transactions are taxable

Using Cash App to send and manage Bitcoin is super convenient, whether you’re new to crypto or a seasoned Bitcoin enthusiast - but your transactions may be taxable. In general, if your Bitcoin is changing ownership - that’s considered a disposal of a capital asset, and you’ll pay Capital Gains Tax on any gain. You can learn more about the rules in your country in our crypto tax guides, and you can use Koinly to easily calculate your Cash App Bitcoin taxes by uploading a CSV file of your transactions.