Buying Bitcoin with Cash App - Purchase Fees & Tier Structure Explained

Thought this might be useful information to the community. I’ve personally been using Cash App for almost a year and have had a truly positive experience.

Below you can find their Fee Structure for both Purchasing and Selling Bitcoin using the Cash App “App”.

Surprisingly, Cash App has become extremely competitive offering some of the lowest fees available to purchase Bitcoin, especially on higher purchase amounts. It currently comes in less expensive than Coinbase, and while services like RobinHood offer 0% fees; Cash App unlike RobinHood, allows you to withdraw and deposit Bitcoin in and out of the App.

The Cash App “Fee Structure” for the Purchase and Selling of Bitcoin is tiered based on the amount of the purchase. Larger purchases and sales incur lower fees.

One FANTASTIC feature about Cash App is they do NOT charge fees when withdrawing Bitcoin from your Cash App wallet to another wallet address.

So all you pay is the purchase fee. This alone is a huge plus in my book. If you purchase 0.00152344 in BTC and withdraw it to any external Bitcoin wallet address; 0.00152344 is received. Zero TX Fees = A+

CASH APP FEE STRUCTURE FOR PURCHASING BITCOIN / SELLING BITCOIN

Purchase funding source does not affect fee amounts. You can purchase Bitcoin using funds available within your Cash App account, a linked Bank Account, or a linked Debit Card.

• $5.00 Fee: $0.15 / 3.09% = $4.85 in BTC

• $100 Fee: $2.28 / 2.33% = $97.72 in BTC

• $1000 Fee: $17.87 / 1.81% = $982.13 in BTC

• $5000 Fee: $51.86 / 1.04% = $4948.14 in BTC

• $10,000 Fee: $76.72 / 0.77% = $9923.28 in BTC

• $25,000 Fee: $191.57 / 0.77% = $24808.43 in BTC

Fees on all amounts >= $25,000 are capped at the 0.77% (Less than 1%). I tried $50,000 and $99,999. Both quoted 0.77%

BTC LIMITS ON PURCHASES / SALES / WITHDRAWS / DEPOSITS

Purchase BTC: $100,000 / Week

Sell BTC: Unlimited

Deposit BTC: $25,000 / week

Withdraw BTC: $5000 / day up to $15,000 / week

Bitcoin limits are based on a rolling seven day average.

Limits may vary based on Account status / length of history with Cash App and prior BTC purchase amounts.

Edit Notes: Corrected Calculation on BTC after purchase/sale for $5.00.

Submitted January 23, 2021 at 03:41PM by MR_PRESlDENT https://ift.tt/3a0OXjY