Hearing crypto is very uncommon these days. You can pay someone via crypto coins, convert them into real money, and much more. But is crypto so simple and a one-word term? No, it’s the whole concept of digital money and it includes different types of currencies like Bitcoins, Ethereum, etc. Indeed, bitcoin is leading because it holds the highest value as of now. This is why a lot of online payment apps like Cash App are extending their features to serve crypto users. Coinbase, another crypto app, also helps you to buy, sell, and pay via cryptocurrencies. If you had been a hardcore Cash App user and want to switch to Coinbase, you should know to send BTC from the cash app to coinbase. Hence, you won’t be losing any funds.
Let’s dig deeper into the blog!
How to transfer bitcoin from the cash app to coinbase wallet?
Before moving ahead with this process you should know what Coinbase is in detail and how it works. It is a registered cryptocurrency exchange that lets you trade crypto coins spending a low minimum amount. What makes it unique is that it has 50 cryptocurrencies including Bitcoin, Ethereum, and more so you get more options. In order to transfer bitcoin from cash app to a Coinbase wallet, you need to verify your account first. You should know that the verification process after your request will take 24 to 48 hours. Once the verification is done, you can move ahead with the next step which is to send BTC from the cash app to coinbase wallet. You can enable the withdrawal of bitcoins from your cash app in the following ways.
- Go to the profile button on the cash app.
- Select Bitcoin and scroll down.
- Click on Bitcoin withdrawal which will direct you to a page asking for camera access.
- You need to give them access to scan your ID like a driver’s license and then it will scan your face.
Now you have to wait for 24-48 hours to complete your verification.
Once this is done you can move bitcoin from the cash app to coinbase by the below steps.
- Install and open coinbase app then log in to your account.
- Now tap on the Receive button.
- Copy the coinbase wallet address.
- Next click on the cash app icon to head to the homepage.
- Go to the wallet section and find the Bitcoin tab.
- Click on Withdraw Bitcoin.
- Paste the coinbase wallet address.
- Confirm it using your PIN.
How long does it take to send bitcoin from the cash app to coinbase?
The process of sending Bitcoins from one cash app user to another can be instant because you are sending it via $Cashtag, which is an instant payment link launched by the app. In case you are transferring bitcoin from cash app to another wallet, say Coinbase then it may take anywhere between 10 minutes to 24 hours. In rare cases when the network activity is huge, it may extend up to days and a week. You can expect a shorter waiting time if you have paid fees to accelerate the procedure.
Is it safe to send BTC from the cash app to coinbase?
It is completely safe to send BTC from the cash app to coinbase because both the companies are registered and trustworthy. No complaints as such have been seen. However, you should know that bitcoin and other cryptocurrency is very volatile so the amount and time you want to invest is totally your personal preference. The cash app only allows bitcoin trading as of now while coinbase has more features. If you try to send non-supporting coins then you may face a loss of funds.
Fees to transfer bitcoin from cash app to coinbase wallet
There are no fees for transferring bitcoin from one cash app wallet to another. The same goes with coinbase wallet. However, when you intend to transfer BTC from cash app or coinbase to another wallet then the process includes some transaction fees. The fees keep on rising depending on the amount. Coinbase charges a little extra than the cash app but when it comes to coinbase Pro you get much higher discount.
Here is how it goes.
|AMOUNT OF BITCOIN||CASH APP||COINBASE||COINBASE PRO|
This transaction fee helps them to prioritize your work over others so you get the transferred funds quicker than normal.
How to send BTC from cash app to coinbase without fees?
You can send BTC from the cash app to coinbase without fees. The process is mentioned in the above section under “How to transfer bitcoin from cash app to coinbase wallet?” And also in the section right below. The only difference you will notice is greater transaction time.
How to transfer money from the cash app to coinbase?
Here is how you can move bitcoin from the cash app to coinbase.
- Open the cash app and head to the Banking tab.
- Tap on Bitcoin and then Withdraw Bitcoin.
- Now you need to scan the coinbase wallet address here. You can also enter it manually.
- For this, go to your coinbase account and copy its wallet address.
- In the final step, use your fingers in the Touch ID or enter the PIN you have set.
You can send BTC from the cash app to coinbase easily. However, the transaction will take a few hours or days depending on the amount, fees, network congestion, and more.
You can transfer bitcoin only and not any other currency from the Cash app. You can send it to another cash app user or to an external wallet like Coinbase.
You can link Coinbase to the Cash app by clicking the ‘+’ sign on the cash app wallet section. Then, choose Coinbase, enter your details, and tap confirm.