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Thinking about converting your Bitcoin holdings on Cash App to cold, hard cash? You’re in luck! While Cash App doesn’t directly transfer Bitcoin to your bank account, there’s a simple workaround to achieve your goal.
This guide walks you through the process of how to withdraw Bitcoin from cash app to bank account in a step-by-step manner.
Before we dive in, a crucial point to remember: Cash App charges fees for Bitcoin withdrawals. These fees vary depending on the withdrawal speed you choose. So, factor in this cost when planning your transaction.
In this comprehensive guide, we’ll outline everything you need to know to withdraw bitcoin from Cash App and transfer it to your connected bank account.
We’ll cover setting up your Cash App account properly, buying bitcoin within the app, understanding sell limits and holds, linking your bank details, and initiating withdrawals to your bank account. Follow along step-by-step to turn your bitcoin gains into cold hard cash.
Contents
How to Link Your Bank Account
Before you can withdraw, you first need to link your bank account details to your Cash App account. Here is the process:
- Open the Cash App mobile app and tap the profile icon in the top-right corner
- Select “Linked Accounts” and then tap “Link New Account”
- Search for and select your bank from the list of supported U.S. banks
- Input your account and routing numbers to link the account
- Confirm the amounts Cash App deposits into your bank account
Once your bank account is successfully linked, you will be ready to withdraw bitcoin.
Selling Bitcoin in Cash App
When you are ready to cash out your bitcoin to your bank, you first need to sell within Cash App. Here are the steps:
- Tap the “Investing” tab at the bottom of the Cash App screen
- Tap the bitcoin wallet icon to access your BTC balance
- Enter the amount in USD or quantity of bitcoin you wish to sell
- Review the details and tap “Sell” to complete the conversion of your bitcoin to USD balance
Keep in mind that Cash App enforces weekly limits on transfers out of the app of $7,500 in bitcoin or $25,000 in USD. So you may need to complete your withdrawal across multiple weeks depending on your bitcoin balance.
How to Withdraw Bitcoin from Cash App to Bank Account
Once your bitcoin has been converted to USD funds in your Cash App balance, you can now withdraw it out to your connected bank account with these following steps:
- Tap the profile icon in the top-right of the Cash App home screen
- Select “Transfer Out”
- Choose your linked bank account
- Enter the amount you wish to withdraw
- Tap “Transfer” to complete the withdrawal
The USD funds will be sent from your Cash App balance to your bank account via an ACH transfer. This means withdraws show up in your bank account typically 3-5 business days after being initiated.
And that is the full process! By linking your bank details, selling bitcoin to USD within Cash App, and submitting a cash out transfer, you can easily withdraw your bitcoin investments from Cash App to your bank for spending in just a few clicks.
Final Thoughts
With Cash App’s user-friendly interface and straightforward linking process, turning your bitcoin gains into usable cash has never been simpler.
Just make sure to pay close attention to the app’s limits on sending bitcoin and weekly USD transfers. Planning around these restrictions ensures your withdrawal goes through without issue.
We hope this step-by-step guide helped demystify how to withdraw bitcoin from Cash App to bank account. You now have all the necessary steps to cash out your bitcoin so you can pay bills, make purchases, or reinvest your earnings however you see fit!
FAQ
Here are some frequently asked questions about how to withdraw bitcoin from Cash App to bank account:
How long does a Cash App withdrawal take?
Cash App bitcoin withdrawals to a bank account take 3-5 business days via ACH transfer once initiated from the app.
Does Cash App have transfer limits?
Yes, there are limits to transfers out from Cash App. You can sell up to $7,500 worth of bitcoin per week. Cash outs of your USD balance from selling bitcoin are capped at $25,000 per weekly period.
How to Withdraw Bitcoin from Cash App to Bank Account: Is there a fee for withdrawing from Cash App?
No, Cash App does not charge any fees for withdrawing funds from your balance to your linked bank account.
