Bitcoin continues to gather momentum as the world’s most popular and expensive cryptocurrency. This is because its potential for a moonshot, as seen when BTC crossed the $100K mark, makes the coin attractive to traders and investors. One place you can use Bitcoin is the Cash App, a popular mobile payment service that allows users to send, receive, and invest money. However, before you can fully access all Bitcoin-related features on this platform, you must complete its verification.
Therefore, this article guides you through verifying Bitcoin on the Cash App, guaranteeing that you comply with legislation and that your account is safe.
Why Should I Verify Bitcoin On Cash App?
Like all fintech or crypto platforms, Cash App must comply with regulatory guidelines, especially anti-money laundering (AML) and Know-Your-Customer (KYC) protocols.
Bitcoin verification helps Cash App ensure that users are who they are. This added layer of security helps protect against fraud and misuse of the platform. Therefore, if you don’t complete this verification process, you cannot deposit Bitcoin into your Cash App, withdraw Bitcoin to an external wallet, and increase your Bitcoin purchase limits.
Prerequisites For Bitcoin Verification On Cash App
These are the documents or requirements you must meet to verify Bitcoin on Cash App:
- A Cash App account with an active phone number and email address.
- A valid means of identification (a driver’s license or an international passport).
- You must be at least 18 years old.
- A clear selfie for identity verification.
Step-by-Step Guide To Verify Bitcoin On Cash App
Step 1: Download And Install the Cash App
Start the process by downloading the Cash App from the Google Play Store or Apple Store if you’ve not done so. After installation, you must provide basic details such as your name, email address, and phone number.
Step 2: Link Your Bank Account (Optional)
Cash App users are not required to link their bank accounts to the platform. However, you can link your bank account to the Cash App to facilitate transactions, which include buying and selling Bitcoin. To do this, go to the “Banking” page inside the app and follow the prompts to enter your banking details securely.
Step 3: Go To The Bitcoin Section
Once you’ve set up your Cash App account, go to the “Investing” option at the bottom of the page. From there, choose “Bitcoin” to access the Bitcoin part of the program.
Step 4: Start The Verification Process
You must authenticate your identity on the Cash App before you can purchase, sell, or withdraw Bitcoin. Click “Verify” to begin the verification process.
Step 5: Provide Personal Information
Cash App requires users to provide specific personal information in compliance with regulatory standards. This entails your full name, date of birth, and Social Security Number (SSN). It is important to ensure that the information you submit is correct and up-to-date.
Step 6: Verify Your Identity
Once you’ve provided your personal details, the Cash App will prompt you to verify your identification. This may require you to take a photograph of a valid ID document—such as a driver’s license or passport—and submit it on the app.
Cash App uses this information to verify your identity and ensure compliance with AML and KYC regulations.
Step 7: Wait For Approval
Cash App will assess your application after you submit your details and ID verification. This procedure usually takes a few minutes but might take longer in some cases. After your identity is validated, you will receive a notification confirming your acceptance.
Step 8: Start Trading Bitcoin
You can start buying, selling, or holding Bitcoin on Cash App after confirming your identification. Navigate to the “Bitcoin” area of the app and enter the amount of BTC you want to buy or sell on Cash App. Follow the prompts to complete the transaction. You can also follow the performance of your BTC from inside the app.
Step 9: Enable Two-Factor Authentication (Optional)
You can add an extra layer of security to your Cash App account by enabling two-factor authentication (2FA). This protects your account from unauthorized access that may put your funds at risk.
Troubleshooting Common Bitcoin Verification Issues On Cash App
1. Cash App Bitcoin Verification Pending
If your verification has been pending for too long, it could be due to a high volume of verification, incomplete information, or technical issues. In this case, you can contact Cash App’s support team for a possible resolution.
2. Cash App Bitcoin Verification Denied
Your Cash Bitcoin verification can be denied if you provide incorrect information or the quality of your ID document is poor. Here, you may need to double-check your information or check the quality of your ID document. If the error persists, contact Cash App support for assistance.
Frequently Asked Questions (FAQs) About Verifying Bitcoin On Cash App
What Is Bitcoin Verification On Cash App?
Bitcoin verification on the Cash App verifies your identity to enable Bitcoin transactions, including buying, selling, and withdrawing BTC.
Can I Sell Bitcoin On Cash App Without Verification?
You must verify your Cash App account before making any Bitcoin-related transactions. The verification process involves providing your personal information, which covers your name, date of birth, social security number, etc.
What Are The Cash App Limits After Bitcoin Verification?
You can access higher Bitcoin transaction limits after completing the verification process. These limits vary with account activity and other factors.
Conclusion
Cash App Bitcoin verification is a simple process that enables seamless transactions and access to additional features with higher limits. This critical step puts you on the right path to buying, selling, and holding BTC with ease.
