Buying And Sending Bitcoin With CashApp
Open Cash App
- Log in to your existing Cash App account.
Buy Bitcoin
- Tap the “Investing” tab.
- Select “Bitcoin.”
- Tap “Buy” and enter the amount you want to purchase.
- Confirm the transaction.
Send Bitcoin to an External Wallet
- Tap the “Investing” tab again.
- Select “Bitcoin.”
- Tap “Send Bitcoin.”
- Enter the external wallet address or scan the wallet’s QR code.
- Enter the amount of Bitcoin to send.
- Confirm the transaction.
Buying Bitcoin In Australia
Step 1: Choose a Bitcoin Exchange
- Popular Australian Exchanges: Some well-regarded options include CoinSpot, BTC Markets, and Independent Reserve.
- Sign Up: Create an account by providing necessary details and verifying your identity.
- Secure Your Account: Enable two-factor authentication (2FA) for enhanced security.
Step 2: Deposit Funds
- Link Your Bank Account: Connect your Australian bank account to the exchange.
- Deposit AUD: Transfer funds from your bank account to your exchange account. This can usually be done via bank transfer or POLi payments.
Step 3: Buy Bitcoin
- Navigate to Buy/Sell Section: On the exchange platform, go to the section where you can buy Bitcoin.
- Select Bitcoin: Choose Bitcoin (BTC) as the cryptocurrency you want to buy.
- Enter Amount: Specify the amount of Bitcoin or AUD you wish to spend.
- Confirm Purchase: Review the details and confirm your purchase.
Step 4: Set Up an External Wallet
- Choose a Wallet: Options include hardware wallets (e.g., Ledger, Trezor), software wallets (e.g., Exodus, Electrum), or mobile wallets (e.g., Trust Wallet, Mycelium).
- Install and Set Up: Download and install the wallet software or set up the hardware wallet according to the instructions.
- Backup Wallet: Securely back up your wallet’s recovery phrase or private keys.
Step 5: Transfer Bitcoin to External Wallet
- Locate Wallet Address: Open your external wallet and find your Bitcoin receiving address. This is a long alphanumeric string.
- Go to Exchange Withdrawal Section: On your exchange, navigate to the section for withdrawing funds.
- Enter Wallet Address: Paste your external wallet’s receiving address into the withdrawal address field.
- Specify Amount: Enter the amount of Bitcoin you want to send.
- Confirm Withdrawal: Review the details carefully and confirm the withdrawal. You may need to verify the transaction via 2FA or email confirmation.
Step 6: Verify Transfer
- Check Wallet: After a short while, check your external wallet to confirm the Bitcoin has been received. The time may vary depending on network congestion.
Buying Bitcoin In Canada
Step 1: Choose a Bitcoin Exchange
- Popular Canadian Exchanges: Some well-regarded options include Coinsquare, Bitbuy, and NDAX.
- Sign Up: Create an account by providing necessary details and verifying your identity.
- Secure Your Account: Enable two-factor authentication (2FA) for enhanced security.
Step 2: Deposit Funds
- Link Your Bank Account: Connect your Canadian bank account to the exchange.
- Deposit CAD: Transfer funds from your bank account to your exchange account. This can usually be done via Interac e-Transfer, wire transfer, or other supported methods.
Step 3: Buy Bitcoin
- Navigate to Buy/Sell Section: On the exchange platform, go to the section where you can buy Bitcoin.
- Select Bitcoin: Choose Bitcoin (BTC) as the cryptocurrency you want to buy.
- Enter Amount: Specify the amount of Bitcoin or CAD you wish to spend.
- Confirm Purchase: Review the details and confirm your purchase.
Step 4: Set Up an External Wallet
- Choose a Wallet: Options include hardware wallets (e.g., Ledger, Trezor), software wallets (e.g., Exodus, Electrum), or mobile wallets (e.g., Trust Wallet, Mycelium).
- Install and Set Up: Download and install the wallet software or set up the hardware wallet according to the instructions.
- Backup Wallet: Securely back up your wallet’s recovery phrase or private keys.
Step 5: Transfer Bitcoin to External Wallet
- Locate Wallet Address: Open your external wallet and find your Bitcoin receiving address. This is a long alphanumeric string.
- Go to Exchange Withdrawal Section: On your exchange, navigate to the section for withdrawing funds.
- Enter Wallet Address: Paste your external wallet’s receiving address into the withdrawal address field.
- Specify Amount: Enter the amount of Bitcoin you want to send.
- Confirm Withdrawal: Review the details carefully and confirm the withdrawal. You may need to verify the transaction via 2FA or email confirmation.
Step 6: Verify Transfer
- Check Wallet: After a short while, check your external wallet to confirm the Bitcoin has been received. The time may vary depending on network congestion.