How To Buy Bitcoin On Cash App: An In-Depth Walkthrough for Beginners

Have you heard about Bitcoin‘s meteoric rise over the past decade and wondered how you can buy some? Or maybe you‘re interested in diversifying your investment portfolio to include a fast-growing new digital asset class?

Buying cryptocurrency may sound intimidating as a beginner, but Cash App makes getting started simple and approachable for anyone.

In this comprehensive guide, you‘ll learn:

  • Why Buy Bitcoin on Cash App
  • Step-by-Step Instructions for Buying & Managing Bitcoin
  • Funding Options, Fees, Investment Limits
  • Transferring to External Wallets & Account Security Best Practices

I‘ll share data-backed insights as a cryptocurrency analyst to help you become an informed investor in this exciting new technology!

Why Buy Bitcoin on Cash App?

As Bitcoin grew from $5,000 to nearly $70,000 per coin over the last 5 years, more people became interested in owning digital assets. But the complex storage and esoteric terminology surrounding crypto wallets presented a steep barrier to entry for novices.

Enter Cash App – whose simplicity allows anyone with a smartphone to safely buy Bitcoin along with stocks and ETFs:

Cash App Monthly Active Users:
    2020 - 24 million
    2021 - 36 million 
Projected 2025 - 100 million

Let‘s analyze key factors driving increased Bitcoin adoption on Cash App:

1. Convenience

Through an intuitive mobile interface, buying Bitcoin on Cash App takes just seconds:

Cash App Demo GIF

Managing your investment also remains straightforward compared to configuring a standalone wallet.

2. Mainstream Audience

By blending Bitcoin purchases alongside traditional bank account functions, Cash App enables cryptocurrency adoption among everyday consumers:

Demographics Of Cash App vs Coinbase Users
     Users           |   Cash App   |   Coinbase
---------------------|--------------|---------------
   Age 13-17         |     10%     |      2%
   Age 18-29         |     50%     |     32%  
   Female            |     45%     |     13%

Reaching underbanked or technologically-averse groups can spur further crypto integration.

3. Market Opportunity

Despite recent volatility, Bitcoin presents tremendous growth potential as a scarce digital asset:

YearBTC Price% Annual Gain
2017$9501,318%
2018$14,000-72%
2019$7,20026%
2020$29,000302%
2021$69,000138%

For investors with 5-10 year time horizons, allocating 1-5% to Bitcoin via Cash App remains compelling.

Next up, let‘s get into the step-by-step process for purchasing Bitcoin through Cash App.

Step 1: Download Cash App & Set Up Account



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