What is Cash App?
Cash App is the best and the most efficient way to spend, send, save, receive and invest your money. It’s a SAFE, FAST, and FREE mobile banking app. Cash App, by Square, is a digital payment app that allows peer-to-peer payments through your device. Square's Cash App is an example of a Digital Wallet
that holds funds. It’s a very simple and user-friendly app and lets us send and receive money instantly. Once you have installed Cash App, you get to create your own unique username. This is termed as the $Cashtag.
$Cashtag in detail
$Cashtag is just like a username and works as a unique identifier for individuals that use Cash App. When you choose your own unique Cashtag, it automatically creates a link. Through this sharable link through which people can send money to you securely and privately.
How to change your $Cashtag
The $Cashtags that you choose can only be changed twice. So you should be careful while you create your $Cashtag and know for sure whether you like it or not. When you don’t like your current $Cashtag, you can create a new one. However, don’t worry, your previous $Cashtag will become inactive so that it prevents it from being used or claimed by other customers. Here are the steps to change your $Cashtag:
- Tap on the profile icon which is located on your Cash App home screen
- Select the “Personal” button
- Tap on he $Cashtag field
- Then choose a new $Cashtag
- After you have chosen your new one tap on “Set” to confirm
How do you know if your $Cashtag is verified?
The validation badge colored blue that’s located next to a $Cashtag means that Cash App has confirmed that the account is in the true occupancy of the public figure, celebrity (VIP), or universal brand if it represents any. This is just like the tick outlined with a circle symbol that appears next to a youtube account.
The badge appears next to $Cashtags and shows up in an account’s profile, in payments, in activity view, and next to the account name in search results.
An account may be verified if it’s of public interest, such as a celebrity or global brand if any. Cash App is currently not accepting requests to verify $Cashtags at this time so it’s better not to change your $Cashtag currently.
This means that if you have a verified account but you change your $Cashtag or any other associated with your account, your current verification will be lost and it will need to be re-verified.
No international payments through Cash App
One main thing that you need to know about Cash App is that it does not support international payments. It really is a great app to use for sending and receiving money but if you are out of the US or the UK, this is not possible.
This means that you cannot send money to someone who is in a different country. Cash App can only be used to send money within the country you live, and the service is only available in the US and UK. The Cash App Card, however, is currently not available in the UK like it is in the US. If you want to send money outside the US, then you are out of luck with this app. A few alternatives that allow you to send money internationally are TransferWise and WorldRemit.
How to send money through this app?
Cash App makes sending and receiving money super easy, so now lets see how we can send money through Cash App:
- Once you have opened Cash App on your device, click on the “$” button which is located exactly to the right of the order button and at the bottom of the app.
- After you have done that enter the amount of money you want to send through the keypad given.
- Click on the button “Pay” at the bottom of the app right next to “Request”.
- Enter either the $Cashtag, phone number, or email of the person who you want to send to.
- You could add a brief note next to the “For” section for any purposes.
- Click on the button “Pay”
Buying and Selling Bitcoin through Cash App
First let’s have a look at how to buy Bitcoin:
Cash App is indeed one of the easiest ways to send and receive money with friends and family due to its easy usability. They’ve made it just as easy to buy and sell BTC straight from your Cash App balance. Unlike other apps, most of our buys and sells happen in seconds. You can even spend your proceeds from a free Visa debit card.
Bitcoin’s price is volatile and unpredictable, so please make wise financial decisions. Don’t spend more than you can afford.
How to increase your Cash App transaction limit?
A high transaction amount limit is definitely required for a person who uses this app a lot. So, we’re going to explain how to increase the transaction limit.
A standard unverified Cash App account has a weekly sending limit of $250 and a monthly $1,000 receiving limit. This means that a person can only receive $1000 monthly and send approximately $1000 a month. This amount would be low for some people. For instance if a designer earns more than this amount, and his clients want to pay him through Cash App, what would he do.
The solution is that he has to verify his account. He can increase these limits by verifying his identity using his full name, date of birth, and the last 4 digits of his SSN (Social Security Number). If his account couldnt successfully be verified, they might ask you to provide additional information. Cash App is currently unable to verify anybody under the age of 18.
How to request for a Cash Card?
Here are the steps to request for a Cash Card.
- Log on to Cash App and then click on the card icon right to the left of the “$” button.
Click the “Order button” and then customize your card for example change your card color between black and white or add emojis and signatures.
To customise your card you have to click on the Design New Card option. There is a fee of $5 to change the design of your card
- Then enter where you would like to have your Cash Card mailed to and then tap on the “Next” button.
- Confirm your information, enter your SSN (social security number), confirm your data again, tap on the “continue” button, place your order and then wait 10 business days for your card to arrive. But always remember that you have to be above the age of 18 in order to order a Cash Card.
Cash App Statistics
- Cash App was launched on 15 October 2013.
- Its headquarters is located in San Francisco.
- Cash App revenue by the start of 2018 was $66 million and increased to $1.2 billion by mid 2020.
- The app’s profit by the start of 2018 was $27 million and increased to $281 million by mid 2020.
- Cash App’s monthly active users in 2017 was 7 million. It later increased to 30 million by 2020.
- Cash App’s installations in 2018 was 33 million. It later increased to 90 million by 2020.