Bitcoin and cryptocurrencies have exploded in popularity and adoption over the last few years. As more people start buying Bitcoin and holding it in wallets, many are using mobile apps like Cash App to purchase and manage their Bitcoin. Cash App makes it easy to buy Bitcoin within the app, but People commonly want to send Bitcoin from their Cash App account to an external crypto wallet or another platform.
In this post, We’ll walk you through the simple process of withdrawing your Bitcoin from Cash App and sending it to another wallet address.
Withdrawing Bitcoin from Cash App is quick and straightforward, though there are some key security steps you should take. By following this process, you’ll learn how to safely move your Bitcoin off of Cash App and into a wallet where you control the private keys. This will enable you to hold your Bitcoin while retaining full ownership securely.
How to Send Bitcoin on Cash App to Another Wallet
Sending Bitcoin from Cash App to another wallet is pretty straightforward, but there are two ways to do it depending on the receiving wallet:
1. Sending Bitcoin to another Cash App account:
- Open Cash App and switch to the Bitcoin tab: Tap the “USD” toggle on the home screen and select “BTC.
- Enter the amount of Bitcoin you want to send: You can enter it in either BTC or USD.
- Find your recipient: You can do this by entering their $Cashtag, phone number, or email address.
- Tap “Pay” and confirm the transaction.
2. Sending Bitcoin to an external wallet:
- Open Cash App and switch to the Bitcoin tab.
- Tap the airplane icon in the top right corner.
- Choose “Send Bitcoin.”
- Enter the amount of Bitcoin you want to send.
- Enter the recipient’s Bitcoin address: This is a long string of letters and numbers starting with “bc1.” You can either type it in manually or scan their QR code.
- Tap “Next” and select a withdrawal speed: Standard is slower but cheaper, while Priority is faster but more expensive.
- Tap “Confirm & Send” and confirm the transaction.
How do I Convert Bitcoin to Cash on Cash App?
There are two ways to convert your Bitcoin to cash on Cash App: selling Bitcoin directly for US dollars or withdrawing Bitcoin to an external wallet and selling it there. Here’s how each method works:
1. Selling Bitcoin directly on Cash App:
- Open Cash App and switch to the Bitcoin tab.
- Tap “Sell.”
- Enter the amount of Bitcoin you want to sell (or tap “…” to enter a custom amount).
- Review the current USD price and confirm the transaction.
- The USD equivalent will be deposited into your Cash App balance immediately.
2. Withdrawing Bitcoin to an external wallet and selling:
- Open Cash App and switch to the Bitcoin tab.
- Tap the airplane icon in the top right corner.
- Choose “Withdraw Bitcoin.”
- Enter the amount of Bitcoin you want to withdraw (minimums apply).
- Enter the receiving Bitcoin address of your external wallet.
- Select a withdrawal speed (Standard, Priority, or Rush) and pay the associated fee.
- Once the Bitcoin arrives in your external wallet, you can use it to sell on a dedicated cryptocurrency exchange for USD.
Why is my Cash App not Letting me Send Bitcoins?
Here are some of the most common reasons:
Insufficient funds: Make sure you have enough Bitcoin in your Cash App balance to cover the transaction amount. Remember that the amount will include any transaction fees.
Limits: Cash App has limits on how much Bitcoin you can send per day, week, and month. You can check your current limits in the app by tapping the profile icon in the top right corner, then selecting “Limits.” If you’re trying to send an amount that exceeds your limit, you’ll need to wait until your limit resets.
Technical issues: Sometimes, temporary technical issues with Cash App can prevent you from sending Bitcoin. Try closing and reopening the app, restarting your phone, or updating the app to the latest version.
Recipient’s address: Double-check that you’ve entered the correct Bitcoin address for the recipient. Bitcoin transactions are irreversible, so it’s important to be sure you’re sending it to the right place.
Verification issues: Your account may need additional verification before you can send Bitcoin. This could include verifying your identity or linking a bank account.
Account restrictions: Your Cash App account may be restricted for a variety of reasons, such as suspicious activity or violating the terms of service. If you believe this might be the case, you can contact Cash App support for help.
Other reasons: Other less common reasons why Cash App might block your Bitcoin transaction include sanctions on the recipient’s country, exceeding anti-money laundering regulations, or concerns about potential fraud.
How to Enable Bitcoin on Cash App
It’s already automatically available to most users in supported regions. However, you might need to complete some verification steps before you can fully utilize all Bitcoin features:
1. Verify your identity:
- Open Cash App and go to your profile.
- Tap “Verify Identity” and follow the instructions. This usually involves providing your government-issued ID and a selfie for facial recognition.
2. Enable Bitcoin features:
- Once verified, open the Investing tab in Cash App.
- Scroll down and select Bitcoin.
- You should now see options to Buy, Sell, Send, Receive, Deposit, and Withdraw Bitcoin.
How Long do I have to Wait to Send Bitcoin From Cash App?
The wait time for sending Bitcoin from Cash App depends on several factors:
Transaction method:
- Sending to another Cash App user: This is instant when using the Lightning Network, with no fees involved. However, if you’re sending with the on-chain Bitcoin network, it can take anywhere from a few minutes to several hours for the transaction to confirm.
- Sending to an external wallet: This always involves the on-chain network and the wait time can range from 30 minutes to several hours, depending on network congestion. You can choose different withdrawal speeds on Cash App, with Priority and Rush offering faster confirmation times but higher fees.
Verification Level:
- Unverified users: May have restricted limits and slower processing times for Bitcoin transactions.
- Verified users: Enjoy higher limits and generally faster processing times.
Can I send Bitcoin From Cash App without Verification?
No, you cannot send Bitcoin from Cash App without verification. This is due to regulations set by the Financial Crimes Enforcement Network (FinCEN) to combat money laundering and other illegal activities. These regulations require Cash App, and other similar platforms, to verify the identity of their users before they can access certain features, including sending Bitcoin.
Can I Send Bitcoin from Cash App Without Verification?
No, you cannot send Bitcoin from Cash App without verification. This is a policy set by Cash App due to regulations aimed at preventing illegal activities like money laundering and fraud. These regulations, primarily from the Financial Crimes Enforcement Network (FinCEN), require platforms like Cash App to verify users’ identities before they can access certain features, including sending Bitcoin.
Conclusion
Sending Bitcoin from Cash App to an external wallet or another platform is quick and easy. Just tap the profile icon in Cash App, press “Bitcoin,” hit “Withdraw Bitcoin,” enter the amount you want to send, paste the receiving wallet address, and confirm the details. The main things to keep in mind are to always triple-check the receiving address and only withdraw to wallets you own the keys to, for security reasons. Withdrawing Bitcoin takes less than a day in most cases. Now you know how to easily send your Bitcoin from Cash App to any external crypto wallet!
About Author
- I’m a firm believer that information is the key to financial freedom. On Coindecimal Blog, I write about personal finance and crypto.
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