A Step-by-Step Guide to Withdrawing Bitcoin on Cash App

therealminaofficialLast Updated: January 28, 2024

In the world of digital currencies, Bitcoin is undoubtedly the most popular – but many are unaware of how easy it can be to invest in and withdraw Bitcoin using Cash App. To help you learn how to do so, this complete guide will walk you through the steps to buy, hold, and withdraw Bitcoin using the Cash App platform.

You’ll learn how to link your bank account or debit card to fund Bitcoin purchases, buy Bitcoin on Cash App, track your portfolio value over time, and withdraw your Bitcoin to an external wallet when ready.

With simple, step-by-step instructions tailored for beginners, you’ll have the knowledge needed to use Cash App as part of your Bitcoin investing strategy.

Table of Contents

Getting Started With Bitcoin on Cash App

The process to buy, sell or withdraw Bitcoin on Cash App is straightforward. Follow these steps to add Bitcoin to your portfolio:

Download the Cash App mobile app if you haven’t already. It’s available for both iOS and Android devices.
Set up an account including adding your bank account or debit card for transfers.
From Cash App’s home screen, tap the Investing tab at the bottom and select Bitcoin.
You can choose to add Bitcoin immediately by tapping “Buy” or get more info by tapping the sparkline chart.
Enter the amount in dollars you would like to purchase or tap “Swap To” to purchase a set amount of Bitcoin.
Review the total and any fees that apply before confirming your purchase.

After buying Bitcoin, you may hold it in your Cash App account or withdraw it to a private wallet. To withdraw:

Navigate to the Bitcoin section of the Investing tab and tap “Withdraw Bitcoin.”
Select an amount in dollars or Bitcoin to withdraw. Note there may be a limit on your first withdrawal.
Copy the address from your external crypto wallet to paste into Cash App. Triple check the address is correct.
Confirm the details and post the transfer.

Funds from any Bitcoin sale on Cash App or external wallet can be instantly deposited to your Cash App balance or bank account linked to your account.

Step-by-Step Guide to Withdrawing Bitcoin From Cash App

Withdrawing Bitcoin from Cash App to an external wallet or address is a straightforward process:

Open the Cash App application on your mobile device.
Tap on the Bitcoin section or search for the Bitcoin symbol.
Select the “Withdraw Bitcoin” option.
Enter the amount of Bitcoin you wish to withdraw in USD or BTC. Ensure you have sufficient funds available.
Tap “Continue” and carefully enter the receiving Bitcoin wallet address or scan its QR code. Triple check the address for accuracy.
Confirm the details like the amount, fees, and Bitcoin address. Then select “Confirm Withdraw”.
You will be prompted to enter your Cash App PIN or use Touch ID/Face ID.
The Bitcoin withdrawal will now be processed and sent from your Cash App account to the external wallet.
You can view the status of the pending withdrawal in the Activity tab. It may take approximately 10-30 minutes for the blockchain network to confirm the transfer, depending on congestion.
Once confirmed on the blockchain, the Bitcoin will be available in the receiving wallet.

By carefully completing these crucial steps, you can securely withdraw your Bitcoin from Cash App to any external crypto wallet or address you wish. Check the pending activity tab regularly to monitor the progress of your Bitcoin withdrawal.

Frequently Asked Questions About Withdrawing Bitcoin on Cash App

How do I withdraw Bitcoin from Cash App to an external wallet?

Open your Cash App and select the investing tab at the bottom.
Choose Bitcoin and tap the Withdraw Bitcoin option.
Enter the amount you want to withdraw and scan the QR code or paste the wallet address from your external wallet.
Double check the details and then confirm to send your Bitcoin.

Will I be charged a fee to withdraw Bitcoin?

Cash App does not currently charge fees for withdrawing Bitcoin, however the Bitcoin network charges miner fees for transactions. The exact fee varies based on network activity and will be displayed before you confirm any withdrawal.

Why is my Bitcoin withdrawal pending?

Withdrawals on Cash App are usually instant, but can take up to an hour or more during times of high network congestion. Check back later or contact Cash App support if your withdrawal is still pending after a few hours.

What is the daily/weekly limit for Bitcoin withdrawals?

Cash App allows users to withdraw up to $2,000 worth of Bitcoin in a single transaction and $5,000 within a 7 day period without providing additional verification. Higher limits may be available by submitting ID verification.

Can I cancel a Bitcoin withdrawal on Cash App?

Unfortunately Bitcoin withdrawals cannot be canceled once they have been broadcast to the network. Double and triple check all the details before confirming any withdrawals.

Why do I need to verify my identity to withdraw Bitcoin?

Cash App may require ID verification for security purposes if you wish to withdraw over the standard limits or have suspicious account activity. This helps ensure your account and funds stay protected.

Following these steps and tips will allow you to safely withdraw your Bitcoin from Cash App to an external wallet. Be sure to closely check all details for each transaction before confirming.

Conclusion

In summary, withdrawing your Bitcoin from Cash App to an external wallet or another platform is a straightforward process with Cash App’s user-friendly interface. By navigating to the Bitcoin section, selecting ‘Withdraw Bitcoin,’ scanning your wallet address or entering it manually, entering the withdrawal amount in USD or BTC, double checking the details, and confirming, you can complete your Bitcoin withdrawal seamlessly.

Remember to triple check the receiving address and amount prior to confirming to avoid any accidental misdirects of funds. As one of the simplest ways for U.S. customers to buy, sell, and withdraw Bitcoin, Cash App empowers you to easily access the world’s most widely-adopted cryptocurrency.