Shopping around without the inconvenience of carrying cash is becoming more and more trendy with every passing day. Cash App is one such service that has made it extremely easy to transfer funds and also provides other unique functions such as investing stocks or buying/selling bitcoins.
However, the real benefits of the Cash App and how it works is still unknown to many. So let’s first answer one basic question.
What Really Is a Cash App?
Simply put, it is a digital wallet that lets the exchange of funds between friends and families. Visit this website to see more. You can send and receive money, share bills with roommates and transfer money from other accounts to Cash App to keep it loaded.
Once you have money in your App, you simply need the mobile app to hit the Pay button and the amount will be transferred to the recipient whose account details you have just provided.
The only thing to keep in mind is that Cash App accepts funds from limited options. You have to link a bank account via debit card or make use of some government-enabled reloadable prepaid cards to receive funds on Cash App.
Many users have been confused in the past about whether they could employ their gift cards worth thousands of dollars to load a Cash App account. Well, the honest answer is no. This mode of payment is not accepted as yet.
Why Should You Have a Cash App Account?
Perhaps the biggest advantage of using this service is that it is free of most of the transfer fees. You will not be charged when sending or receiving money and there is also no inactivity fee if you decide to leave the account for weeks.
Cash App Card is also open for all account holders and it can be used to enjoy a specific boost with a chosen vendor. This means you can select a retailer of your choice and then earn a discount when you shop there using the Cash App card. You can only choose one vendor at a time but it can be changed whenever you want to.
Lastly, Cash App lets you invest in stocks with specific companies. Selling and purchase of stocks have been on the high in recent years making platforms like Cash App even more relevant and useful. Moreover, if you decide to buy a stock but do not have a sufficient amount in your Cash App then the remaining funds will be taken out from your linked bank account with your permission.
Some Outstanding Features Of Cash App Account
If you are still wondering whether you should or should not open a Cash App account then here are a few pointers that will help you decide.
Cash App Is Bitcoin Compatible
Bitcoin and cryptocurrency trading is the talk of the town nowadays and users often prefer apps that can help them with Bitcoin mining. The good news here is that Cash App is Bitcoin compatible although you will have to pay some extra fees when making use of this feature. You can purchase and sell Bitcoin using this app after you are done paying the transaction charges.
You Can Earn More Via Referral To Friends
Cash App gives an amazing chance to all its users to make some cash by referring the app to friends. If you refer the app to a friend and they sign up you will get $5. This can be done with as many friends as possible and you will win the same amount every time.
You Can Also Apply To Get Cash Debit Card
Cash App account holders can also opt for a debit card that works much like any other VISA or Mastercard debit card available in the market. You can use it to make transactions, receive money, buy things, etc. The card is provided by Sutton Bank and it is only given out to people who own a Cash App account. Moreover, this card can not be linked to any other bank account or another debit card.
What Is The Downside?
Although we won’t be able to point out a long list of things that are wrong with using the Cash App, we can not say that the application is free of any downsides.
For example, many customers are disappointed to find out that the app lacks some basic features that are crucial for them or that most other apps have already started to utilize. Moreover, Bitcoin selling and purchasing are still limited because some markets have not yet started accepting this mode of Bitcoin exchange.
In a Nutshell
Cash App may have some downside to its use. For example, there is a limit on how much you can withdraw at the ATM and also a transaction fee of 3% if you use a linked credit card to transfer money. Nonetheless, this service is immensely helpful in freeing users of the need to carry cash all the time or to visit the nearest bank when they wish to share money with friends and families.
Why don’t you give it a try and let us know how your experience with the App goes? Looking forward to hearing about it!
Some Frequently Asked Questions About Cash App
Can I really make money with a Cash App?
Cash App refer-a-friend program is legit and it lets you make some dollars without putting in much effort. However, keep in mind that this is the only method to make some money with Cash App as the application does not carry out any giveaways or contests.
Can I send $10,000 with a Cash App?
Cash App lets its users send up to $1,000 in a month. This is a cap that you will have to keep in mind when making an account here. You can increase the limit by getting in touch with the authorities and requesting them to give you a higher credit-sharing option.