You probably do not know how to enable bitcoin withdrawals on cash app, or may have been considering cryptocurrency trade but skeptical about how it works, especially on Cash App.
Or, you’re among those having issues withdrawing their bitcoin from Cash App. Well, this blog post will answer all your questions regarding to withdrawal of bitcoin on the Cash App.
First of all, I will start by explaining what Bitcoin is all about, before jumping to the main topic that brought you here” so that you will understand everything.
What is Bitcoin?
However, in case you are new to cryptocurrency, I would like to give a brief insight into what Bitcoin is. Bitcoin is one of the fastest-growing and most popular cryptocurrencies that has been in existence for over 10 years and has the largest customer base in the world. Bitcoin can be traded on various mobile Apps of which Cash App is one. All you have to do is follow the required process and buy the quantity you desire.
And of course, after buying, you watch its growth and can withdraw or sell it up to get cash on the Cash App. And here lies the topic of our discussion. So roll with me as we discuss Bitcoin withdrawal in detail.
What Is Cash App Bitcoin Withdrawal?
Bitcoin withdrawal is a transaction that allows you to move your Bitcoin from Cash App to any external platform or third-party wallet for either the purpose of sales or gifting.
The process of selling or transferring your bitcoin to the third-party wallet is what is known as bitcoin withdrawal.
How To Enable Bitcoin Withdrawals On Cash App
Activating your “enable bitcoin withdrawal” is quite easy to do. However, you must make sure you are a verified Cash App user. We will look at how to get verified in the course of the past but let’s first discuss the steps on how to enable bitcoin withdrawal.
- On the homepage of your Cash App, tap the profile tab at the top right corner.
- That will lead you to another page. Scroll to the bottom and click on bitcoin.
- On the next slide, scroll down till you find the inscription “enable bitcoin withdrawal”. Click on it.
- A verification notification would be sent to you. Go through the verification process.
- Congratulations! You can now withdraw your Bitcoin on the Cash App.
I know that was pretty easy. So let me teach you how to get verified on Cash App.
How Can I Get Verified For Bitcoin Withdrawal On Cash App?
So many Cash App users get rather confused and discouraged when it gets to the point of going through a verification process. Not to worry because this explanation is meant to ease up the process for you.
- Firstly, when you click on “enable bitcoin withdrawal” as explained above, you will be sent a notification that reads ” here comes the verification”. At this moment, click on the continue tab.
- On the next tab, click on ALLOW. This enables your camera to have access to the Cash App.
- Scan your valid photo ID and your face.
- A message will pop up on your screen reading “Bitcoin withdrawal approval pending”
- That will take about 24 to 48 hours after which an email would be sent to you if the process was successful.
After the verification, you are allowed to withdraw your Bitcoin at will.
How To Withdraw Bitcoin From Cash App
Haven has been verified and you have also enabled Bitcoin withdrawal on your Cash App, next is to withdraw. To withdraw your Bitcoin from Cash App, take the steps below
- Click on Banking on the homepage of your Cash App.
- Select Bitcoin
- Click on withdraw Bitcoin
- Scan the QR code or choose the wallet address if you want to send it to a third party. If not, you can ignore this step.
- Confirm withdrawal by entering your pin or ID.
- Select a withdrawal speed either Standard, Rush, or Priority, and confirm.
With the steps above, your withdrawal will be successful in no distant time it’s not above the limit.
Does Cash App Charge A Fee To Buy Bitcoin?
There is a limit to how much Bitcoin you are allowed to withdraw daily and weekly. Although the reason(s) for this limit is not officially stated, it can be assumed that it is meant to curtail over-spending and guide against losing your entire funds in cases of theft.
As a Cash App user, you are allowed to withdraw up to 0.0001 BTC which is $2000 worth of bitcoin within 24 hours and $5000 worth of bitcoin weekly. In other words, you must have up to 0.0001 bitcoin in your Cash App before you can bet I’ve approved to make a withdrawal. However, if you are doing a Rush or Priority withdrawal, you have a minimum of 0.00005 bitcoin amount.
Cash App Bitcoin Withdrawal Fee
It is wise to demand the fees of a transaction before carrying it out. To answer the question above, I would like to let you know that there is no specific amount of money for making a withdrawal.
Of course, you will be charged a fee but the fee is dependent on the withdrawal speed chosen by you (Standard, Rush, or Priority) and how congested the blockchain market is at that time.
If you want to use Standard, you would not have to bother about a network fee because you will not be charged. However, if you go with either Rush or Priority, you will have to check the fee yourself using the app.
How To Check Your Cash App Withdrawal Fee
- On the homepage of your Cash App, click on the Activity tab.
- Click on Bitcoin transaction
- On the right corner of the next page, you will see three dots (…), click on them and you will see the fee (charges).
How Long Does It Take To Withdraw On Cash App?
It takes up to 30 to 40 minutes to complete Bitcoin withdrawal. If it takes longer than that, it’s an indication of an error.
Cash App Bitcoin Withdrawal Pending?
The following are likely the reasons why your bitcoin withdrawal is pending.
- Insufficient Bitcoin balance
- Poor internet or Wi-Fi connection.
- Bank server issue.
How To Fix Bitcoin Withdrawal Pending
When your Bitcoin withdrawal is pending for more than an hour, do the following
- Cancel the transaction. To do this, click on the activity tab. You will see pending withdrawal.
- Click on cancel and press yes to confirm.
In this article, we have been able to discuss how to activate “enable bitcoin withdrawal on Cash App”. Many details and answers to other questions surrounding the process of bitcoin withdrawal have also been given.
I hope with this, your journey through withdrawal and bitcoin trade generally will be easy. If you would like us to answer more questions about Cash App, leave a comment on this post.
Video: Enabling Bitcoin Withdrawals On Cash App
No doubt, with the above tutorial and video guide” you must have learnt how to enable bitcoin withdrawals on cash app. If you have further questions feel free to use the comment box below.