How to Cash Out Bitcoin on Cash App? [2024]

To cash out Bitcoin on Cash App, start by navigating to the homepage, tapping the Money tab, and selecting the Bitcoin tab. Next, sell your Bitcoin holdings, return to the homepage, and select the Cash Out option under your Cash App balance. Finally, transfer the funds to your linked bank account.

With 55 million users across the United States and the United Kingdom, Cash App has become one of the most popular e-money platforms in the world. Its rapid growth over the past decade is fueled by a wide range of convenient features, including Bitcoin exchange services that let users buy, sell, send, and store BTC directly in the app.

This guide explores Cash App’s Bitcoin exchange services, focusing on how to cash out Bitcoin to a bank account. It also covers withdrawing Bitcoin to external wallets and explains the associated exchange fees.

What is Cash App?

Cash App is a popular e-money platform that was founded in 2013 by Block Inc. (SQ). It allows users to quickly and easily transfer money to other people, and it also offers a variety of money management features to allow users to easily track their spending.

Primarily, Cash App operates as a simple peer-to-peer payment platform. It provides each customer with a Cash Tag which negates the need to remember lengthy bank details, and it also allows users to receive payments using just their email address.

Cash App has introduced several key features over the years, including Cash App Borrow and the ability to buy and sell Bitcoin directly through the application. Cash App can act as a multi-purpose wallet in this regard, as users can store cryptocurrency in addition to fiat currency.

How to cash out Bitcoin on Cash App?

Cashing out Bitcoin (BTC) through Cash App is a very simple process. The application allows users to seamlessly buy and sell Bitcoin at the current market price, and it also allows users to withdraw funds directly into their bank account. As a result, there are several key steps for how to cash out Bitcoin that can be sorted into two groups: selling Bitcoin and withdrawing funds.

Selling Bitcoin

Here is a step-by-step guide on how to sell Bitcoin in Cash App:

1. Open Cash App
2. Navigate to the Homepage
3. Tap the Money tab on your Cash App home screen
4. Tap on the Bitcoin tile
5. Press Sell
6. Enter the amount that you’d like to sell (this can be denominated in either $ or ₿
7. Enter your PIN or Touch ID
8. Select Confirm

Cash App will now automatically process the transaction, and you should see updated balances in your account within a few seconds.

Withdrawing cash

Once you’ve sold Bitcoin through Cash App, the next step in fully cashing out would be to withdraw funds to your bank account. It should be stated that it’s not always necessary to fully cash out Bitcoin from Cash App, as the application allows its users to spend fiat currency using a Cash Card.

Regardless, here’s a step-by-step guide on how to withdraw fiat into your bank account after you’ve sold your Bitcoin:

1. Navigate to the Money tab from the Cash App homepage
2. Click Cash Out under the cash balance
3. Enter an amount to withdraw
4. Select  a transfer speed
5. Select a linked bank account
6. Confirm the withdrawal

How to withdraw Bitcoin from Cash App?

Cash App also supports the ability to withdraw Bitcoin to blockchain wallet addresses, including those that are held in custody by centralized exchanges. Users seeking to withdraw their Bitcoin in this way can do so in a few simple steps:

1. Navigate to the Cash App homepage
2. Toggle the denomination by tapping USD. This will change it to BTC.
3. Select Bitcoin
4. Enter the amount of Bitcoin that you want to withdraw
5. Either tap the QR scanner icon in the top-left corner or choose Send to enter a wallet address manually
6. Scan or enter the wallet address, then tap Next
7. Choose a withdrawal speed and confirm your transaction details
8. Hit Send to initiate the transaction

Note that in order to withdraw Bitcoin, you’ll need to withdraw at least 0.001 BTC if you opt for the standard withdrawal speed. Rush and Priority withdrawals have a 0.00005 BTC minimum withdrawal amount.

What fees do I need to pay when buying and selling Bitcoin through Cash App?

Cash App supports convenient Bitcoin trading directly through the application, but there are some fees involved with the process. The total amount of fees that a user will need to pay varies according to the size of the transaction. There are 8 tiers in total for Cash App’s Bitcoin trading fees:

Total transaction amount	Percentage fee
$0 – $9.99	3%
$10 – 100	2.25%
$100.01 – $200	2%
$200.01 – $1000	1.75%
$1000.01 – $2000	1.5%
$2000.01 – $3000	1.25%
$3000.01 – $5000	1%
> $5000	0.75%

In addition to being applied when buying or selling Bitcoin, crypto trading fees apply when a user withdraws Bitcoin to an external wallet address. However, one slight difference is that Cash App offers a selection of withdrawal speeds that have some additional costs.

FAQs

Can I withdraw Bitcoin to my bank account with Cash App?

Yes, Cash App users are able to cash out Bitcoin to their bank account directly through the application. First, users need to sell Bitcoin for fiat currency using the platform’s integrated exchange. Then, Cash App’s “Cash Out” function can be used to withdraw fiat currency to a linked bank account.

What are the fees for trading Bitcoin on Cash App?

Cash App’s Bitcoin trading fees vary according to the total amount being traded. The highest fee that a user can pay is 3%, which applies to transactions under $10 in value, and the lowest fee that a user can pay is 0.75%, which applies to transactions over $5000 in value.

The bottom line

Cash App offers a highly convenient method for buying and selling Bitcoin directly through the application. Not only can users invest in Bitcoin and store their assets in a single location with their fiat currency, but the application also allows seamless cash-out services with linked bank accounts.

To learn more about Cash App and its various features, check our articles below: