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- Set Up a Bitcoin Wallet
To begin, you will need a secure Bitcoin wallet to store your cryptocurrency. Choose a reputable wallet provider, such as Coinbase, Electrum, or Ledger, and follow their instructions to set up your wallet.
- Purchase Bitcoins
Once your wallet is ready, you need to acquire some Bitcoin. This can be done through various cryptocurrency exchanges like Binance, Coinbase, or Kraken. Create an account on your chosen exchange, link a payment method, and purchase the desired amount of Bitcoin.
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One of the more well-known payment providers also allows you to buy Bitcoin, which can be used for online shopping. For fast ID approval, you can use your driver's license.
Simply choose Bitcoin, then select "VERIFY YOUR IDENTITY." Navigate to the Bitcoin tab and purchase Bitcoin equivalent to the amount of your order, adding a few extra dollars to cover network fees (usually around 2–5 USD).
You can withdraw Bitcoin from your Cash App to an external Bitcoin wallet at any time. Follow these steps to complete the process:
- On your Cash App home screen, toggle from USD to BTC by tapping "USD."
- Select Bitcoin.
- Either:
- Tap the top-left corner of the screen to use the QR code scanner, or
- Tap "Send" to manually enter the wallet address.
- Confirm the wallet address by tapping on it.
- Tap "Next."
- Choose your desired withdrawal speed.
- Tap "Confirm & Send" to finalize your withdrawal.
If this is your first Bitcoin withdrawal, you may need to provide additional personal information before proceeding. The minimum withdrawal amounts are as follows:
- Standard withdrawal speed requires at least 0.001 Bitcoin.
- Rush and Priority withdrawal speeds require a minimum of 0.00005 Bitcoin.
Once your account is verified, you can also buy Bitcoin and place orders directly within the app.
