Cash App is one of the most popular mobile payment services in the US and UK. Since its initial release in 2013, Cash App has made sure to facilitate their users in the best possible way and make the whole financial system easier to use. It enables users to send and receive money and avoid traditional banking hassles.
Cash App also allows users to invest in stocks and the popular cryptocurrency asset Bitcoin. However, purchasing, selling, and investing in Bitcoin requires users to verify their details before they can proceed with their transactions. How long does Cash App Bitcoin verification take? Before we answer that, let’s briefly understand how Cash App works.
- Cash App is a popular mobile payment service
- On Cash App you can purchase Bitcoin, but you need to verify your identity
- You must be over 18 to buy Bitcoin on Cash App
- For Bitcoin verification you need to provide a scanned image of your official identity document and submit a selfie
- Bitcoin verification is usually completed in a few minutes, but can take up to 24 hours, or 72 hours in some situations
The main purpose of Cash App
Created and designed by Square, Inc. and previously named Square Cash, Cash App aimed to compete with payment gateway giants like PayPal and Venmo who were already thriving and popular among millions of people due to their ease of use. This is where Cash App came in. The concept of P2P payments made it a lot easier for everyday users to instantly send and receive money without long queues or waiting times that are common in the standard banking industry.
The account creation process on Cash App is very easy and fast. Anyone over 13 years of age can open an account on Cash App and start using their services. Paying bills or sending money to your merchant -every option will be available at your fingertips through your mobile device.
What platforms are supported by Cash App?
Users with Android or iOS devices can install Cash App on their devices without any problems. Just make sure that your device is up to date. Cash App does not consume high RAM, storage, or processing speed, so you can easily run the application on your device.
How old do you need to be to use the Cash App?
You need to be at least 13 years old in order to use the services of Cash App. However, if you are aged between 13 and 17, you will first have to get approval from your parent or guardian before creating an account on the service. If you are under 18, some of the features will not be available to you.
If you are 18 or older, you can easily open an account on Cash App, and access every available feature on the platform unless you skip verification.
Buying Bitcoin with Cash App: Things to know
The option to buy Bitcoin with Cash App is available for US residents only. To buy Bitcoin with Cash App, you must be over 18 years old. You must also complete the verification process before you can buy Bitcoin and keep it in your Cash App account. You need to submit all necessary information along with your SSN, tax ID, official ID document, and other things to smoothly complete the process.
How to buy Bitcoin with Cash App - Step-by-step guide
To buy Bitcoin with Cash App, follow these simple steps:
- Create an account on Cash App and verify your email address to access the available features on the application.
- Connect your bank account or debit card with your Cash App account in order to access the needed funds.
- Pick up a unique cashtag that will be used in all of your transactions.
- In order to purchase Bitcoin, add funds to your Cash App account. Click on the 'Add cash' button, and deposit the preferred amount.
- Cash App will require you to verify your identity before the funds can be deposited in your Cash App account.
- To verify your identity, provide your SSN, official identity document, date of birth, address, and a few more details that might be asked.
- Right after verification, the deposited funds will be added to your Cash App account.
- With the deposited amount, you can buy Bitcoin, but you first need to complete a secondary verification process.
How to complete the Cash App Bitcoin verification process?
The Bitcoin verification process at Cash App is relatively short compared to the first verification process that I mentioned earlier. This time, you just have to provide a scanned image of your official identity document and a selfie. After the verification, you can buy Bitcoin through Cash App whenever you want.
How long does Cash App Bitcoin verification take?
The time to complete the Bitcoin verification process at Cash App usually depends on the number of new applicants and the information you have submitted. If you have submitted the correct information and there is not much traffic in the verification department, the process can be done within minutes. Otherwise, it can take hours to verify your details.
You can expect the Cash App Bitcoin verification to be completed within 24 hours, but in some cases, it can take up to 72 hours. If your Bitcoin verification has not been completed in three business days, you can get in touch with the Cash App support team to query the delay.
Can you withdraw Bitcoin from your Cash App account?
Absolutely! It is possible to withdraw your Bitcoin from your Cash App account into an external wallet within minutes. Just make sure to keep the withdrawal limits in mind, and you will be good to go.
The withdrawal fee varies, and will be shown to you at the time of withdrawal.
If you do not want to sign up to a cryptocurrency exchange to buy Bitcoin, Cash App is an excellent solution. You will need to complete verification first, but after that, your experience will be quick and efficient.
Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us.