Cash App is a mobile payment platform that allows users to transfer money from one person to the other by using a mobile app. Founded in 2009, it was formerly known as Square Cash but has now adopted the name Cash App. The company was founded by Jack Dorsey (founder of Twitter) and Jim McKelvey. Subsequently, they launched the app and service in 2010.
Cash App helps make easier the process of requesting and transferring money to other Cash accounts through its App (simply called Cash App) or email. You can also choose to withdraw your cash with its debit Visa-card (called Cash Card).
For convenience's sake, withdrawals can be done using an ATM or even transferred to any domestic bank account. Cash App can also be used to buy and sell bitcoin, a development that took place recently in January 2018.
In 2017 November, as the value of bitcoin began to take flight, Cash App started experimenting with the trading of bitcoin. Subsequently, the price of bitcoin increased by 11% during this period.
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How to Use the Cash Card
This is a Visa debit-card developed by Cash App that can be used to pay for goods and services with funds you have in your Cash App account. Each Cash Card is unique to the Cash App and is not connected to your bank account. The Cash Card is also separate from the personal debit cards linked to people’s Cash App.
As said earlier, the Cash Card can be used to make withdrawals from ATMs. It can also be used with Cash PIN to access your money at any ATM anytime.
Users are required to sign their names on the app, after that the sent signature is then printed onto the cards and sent to each user.
How Cash App works
Square Cash/ cash App is unique in the sense that all transactions made on it are free, but these only work using debit cards — not credit cards or bank accounts.
These free transactions, however, are limited to only $2,500 a week. On the other hand, Square-Cash Pro, targeted at smaller businesses and having no dollar amount limit charges 1.5% for transactions on debit-cards or bank-accounts.
Noteworthy is the fact that when you use Cash Card to withdraw money, the maximum you can withdraw at an ATM is $250.00 per transaction. It also allows for only $250.00 within 24-hours, $1,000.00 in a week and $1,250.00 in a month.
How to buy bitcoin with Cash App
Step 1: The major prerequisite to use this service is by downloading the app Cash App.
Those using Apple devices can always visit the App Store, while those using Android devices (Samsung phones), can go to the Play Store.
Step 2: The next step is to launch the Cash App. Afterward, click on the menu at the top right corner of your screen.
Step 3: Link your bank account
This is to Link the app to your bank account using an internet-enabled debit card. First thing is to enter the card number which is 16-digit long. Next, enter the card’s date of expiry, the 3-digit CVV, and area Zip code. Confirm all the details are correct then click on “Add Card.”
Step 4: Tap on the “Bitcoin” icon, then tap “Buy”
Step 5: Simply enter an amount of bitcoin (in dollars) you desire to purchase, then Press “Buy.”
Conclusively, buying bitcoin with Cash App is very simple and is one of the best options available for cryptocurrency enthusiasts.
Introducing Coincola
CoinCola is a Person-to-Person (P2P) Bitcoin trading platform with headquarters in Hong Kong and present in many countries of the world. Arguably we are one of the best OTC gift card market places you can find in the country.
CoinCola’s gift card market where you can buy bitcoin with different gift cards
All transactions carried on our platform are secure and safe. User’s information is protected and the same level of confidentiality applies to both buyer and seller. We also have an escrow system in place which helps to ensure no one loses investment while trade is going on.
Customer support is one aspect we take seriously. We have an all-round 24/7 support-line ready to offer assistance to all our clients. That way, you don’t have to wait before you’re attended and in no time, the issue rectified. On Coincola, most gift cards are accepted in exchange for bitcoin or any other cryptocurrency of choice.
The exchange is specially designed to offer the best experience of cryptocurrency trading to its users at a fast pace and very competitive rates as well. A trading fee of 0.2% is charged.
We offer Tether (USDT) and Bitcoin (BTC) as base currencies, but we also support crypto-to-crypto trade pairings with Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC).