Cash App Review
Super-app bringing Bitcoin buying to 57 million Americans alongside P2P payments and banking.
Why We Recommend Cash App
Cash App stands out as the most accessible Bitcoin on-ramp for mainstream Americans, seamlessly integrating cryptocurrency purchases into an app millions already use for peer-to-peer payments. Operated by Block, Inc. (formerly Square), the platform benefits from the institutional credibility of a publicly-traded company with deep roots in payments infrastructure. The app employs PCI DSS Level 1 compliance, data encryption in transit and storage, 24/7 fraud monitoring, and biometric authentication. Cash balances qualify for FDIC pass-through insurance up to $250,000 via partner banks like Sutton Bank and Wells Fargo when users have an activated Cash Card.
Block's commitment to Bitcoin extends beyond mere trading—the company holds Bitcoin on its balance sheet and has invested significantly in Bitcoin development through initiatives like Spiral. Cash App has prevented an estimated $2 billion in scams since 2020 and covers unauthorized transactions when reported promptly. While this is a custodial service where Block holds your Bitcoin keys, the platform offers withdrawal functionality so users can move their Bitcoin to self-custody wallets when ready.
Best For
Cash App is ideal for Bitcoin beginners and casual buyers who want to purchase Bitcoin without the friction of dedicated cryptocurrency exchanges. With 57 million active monthly users—many earning under $150,000 annually and including those with limited banking history—the app provides financial inclusion alongside Bitcoin access. If you already use Cash App for splitting bills or receiving payments, adding Bitcoin purchases requires no new account setup or learning curve.
The platform particularly suits users who want small, regular Bitcoin purchases integrated into their existing financial routine. The combination of direct deposit, a Visa debit card, and instant transfers means users can receive paychecks, buy Bitcoin, and spend remaining funds all within one app. Those sending money to friends and family benefit from free P2P transfers while having easy Bitcoin access when desired.
Small business owners accepting customer payments through Cash App gain a natural pathway to converting some revenue to Bitcoin. The 2.6% + $0.15 fee structure for business payments is competitive with traditional payment processors, and the ability to immediately purchase Bitcoin from those proceeds simplifies treasury management for Bitcoin-focused entrepreneurs.
Services & Features
- Bitcoin buying and selling
- Commission-free stock trading
- Free P2P transfers
- Customizable Visa debit card
- Direct deposit with fee-free overdraft up to $50
- Instant transfers for 0.5%-1.75%
- ATM access with monthly fee reimbursement
- Afterpay integration
- Bitcoin withdrawal to external wallets
- AI-powered account navigation
Considerations
Cash App is US-only and requires identity verification for full functionality. Transaction limits apply, including a $25,000 direct deposit cap. As a custodial service, Block holds your Bitcoin keys until you withdraw to self-custody—recommended for any significant holdings.
