Author: Evan Hatfield
Cash App, a popular mobile payment application, is widely recognized for providing its users with quick and easy money transfers. However, Cash App can do more than just transfer money. This article delves into the top five lesser-known functions of Cash App, so you can get the most out of your experience with the app. From investing and Bitcoin trading to fantastic savings and unique cashback opportunities, explore the options that make Cash App more than just a payment platform.
1. Investing with Cash App
Cash App offers a commission-free stock exchange and ETF investment platform on its app. Launched in late 2019, the Cash App Investing platform allows users to buy and sell stocks and trade Bitcoin. One of the biggest perks of this platform is how easy it is to trade shares. You can get started for as little as $1, since Cash App lets you buy portions of stocks. It also lets you send and receive stocks to other people, just like you would cash.
Cash App Investing is very beginner-friendly. There are analyst opinions and stats on the moves you make, so you can get feedback on if your investments are performing well. You can even get notified when the stocks you’re watching move up or down in price, or when there is a big move in the market. And for busy investors, you can set it to autopilot, so it automatically purchases or sells stocks at a certain price or at regular intervals. Overall, Cash App Investing is a relatively simple platform compared to some competitors, but it is a great way to dip your toes in investing.
2. Bitcoin Trading on Cash App
Person holds physical Bitcoin in hand
Navigating cryptocurrency trading platforms can often be challenging for newcomers. Cash App provides a user-friendly interface for buying and selling Bitcoin right on its app. You can simply use your linked card or cash balance to buy Bitcoin with any amount of money. You can also send Bitcoin to other wallets, people and services without any fees. And if you decide to sell any Bitcoin, that can also be done right on Cash App.
When buying and selling Bitcoin on Cash App, the app offers competitive pricing on fees. For transactions of less than $10, there is a 3% fee. This fee is reduced with higher value transactions, all the way down to 0.75% on transactions more than $5,000. These rates are cheaper than or competitive with most major Bitcoin and cryptocurrency exchanges.
Bitcoin as an investment has exploded over the past decade, and more and more people are recognizing its potential to reshape traditional financial landscapes. If you are looking to get started with Bitcoin or transfer some of your existing Bitcoin to another site, Cash App offers a convenient, user-friendly platform to trade your Bitcoin.
3. Playing at Online Casinos
Person at a casino table has casino chips while on a laptop
Since Cash App functions as a secure Bitcoin as well as a payment method, users can easily make deposits and withdrawals at online casinos with Cash App, adding a layer of convenience to their gaming experience. More and more online casinos are turning to Bitcoin and cryptocurrency as a primary transaction method because of its many benefits for both the casino and the customer. For example, compared to some more traditional banking methods like bank transfer or check by mail, Bitcoin offers better security measures, lower fees and faster transaction processing.
Now that online casinos are moving towards a more cryptocurrency focus, customers are reaping the rewards. Cash App casinos are incentivizing customers to deposit with Bitcoin by offering exclusive bonuses and rewards that are more lucrative than the standard bonuses. So, if you want to get access to these special rewards at online casinos, Cash App provides you with an easy-to-use Bitcoin wallet that you can use for all your online casino banking.
4. Get Paid Directly into Cash App
Someone types their pin in at an ATM
If you are signed up with Cash App, you can set up a direct deposit with your employer so that your paycheck is automatically deposited into your Cash App account. You can have your tax returns deposited directly into your account as well. If you already use Cash App for many of your transactions, direct deposit to your Cash App account could be very convenient, since you get access to your funds on the app instantly. You can receive up to $25,000 per direct deposit, and up to $50,000 in a 24-hour period. Cash App also makes direct deposits available as soon as they are received, up to two days earlier than many banks. And lastly, most Cash App users pay $2 per transaction at a Cash App ATM. However, if you have a direct deposit set up, you no longer pay any fees at the ATMs.
5. Cash App Boost & Cashback Opportunities
Cash App delivers its unique feature of Boosts, which provides discounts on various purchases. The process is simple: select Boost offers tailored to your preferences before making a purchase to save money. You can only activate one of these Boosts at a time, and they usually come in the form of a percentage savings or a dollar value off your purchase.
Beyond discounts, Cash App also gives you cashback opportunities, particularly with specific retailers. You can get cashback at stores that offer it when you use your Cash Card as a debit card from your Cash App. These two features of Boosts and cashback transform each transaction into a potential savings opportunity, providing Cash App users with tons of value.
Cash App is filled with lesser-known features waiting to be discovered. Current Cash App users and new users should explore the app's full potential and discover new ways to utilize it beyond just receiving and sending money. You can unlock the versatility of Cash App by exploring great features like investing, Bitcoin trading, discounts and cashback opportunities. Challenge the conventional use of the app and uncover new ways to enhance your financial transactions and experiences. Cash App is more than just a payment tool; it's a versatile platform ready to cater to various facets of your financial needs.
Disclaimer: The above is a contributor post, the views expressed are those of the contributor and do not represent the stand and views of Outlook Editorial
