How to Make Money on Cash App?

Cash App is one of the popular payment gateways that people in the US and UK use for sending and getting money. It functions just like PayPal which is the largest such payment gateway in the world and Venmo, another famous one.

Having said that, Cash App is also famous. One of the best features of Cash App is that it presents a few ways for all users to make money.

Of course, you won’t earn too much money on Cash App. However, it’s fun trying to make even some money on Cash App. It could also help save a few bucks on regular bills.

Here’s how to make money with Cash App

How to Make Money on Cash App?

Step-1: Create Own Account

The first and most important step is to create your own account on Cash App. You can do this by providing your US mobile number or even your UK mobile number, depending on where you live.

To register and create an account, you can either visit the Cash App website or download the app and fill in the necessary details.

Also Read: How To Get a Free Phone Number Without A Credit Card

Step-2: Link Bank Account or Cards

The second step is to link your bank account, credit card or debit card to the Cash App account. This is the most important step because all the money that you make and receive will go to that account. You can also use the Cash App wallet or account to keep the money you get.

Step-3: Check Welcome Bonus

Often, Cash App provides a welcome bonus of $5. To get this welcome bonus, you’ve to fund your Cash App account with $5 or more and make the first transaction.

Check their rules and regulations for transactions that qualify for the cash rewards. This is one of the simplest ways to make money when you get started with Cash App.

Step-4: Use Cash App Referrals

You can get up to $5 for every friend or relative or contact that you refer, when they open a Cash App account and make the first transaction. The more persons you refer and the more accounts open, the higher your earnings. Check their terms and conditions because they vary for the US and UK and also in certain states and other areas.

Step-5: Use Cashback Services

You can get cashbacks by shopping at certain stores that feature on Cash App. Some of these stores could be of your choice. Often, these stores also have special offers on certain products.

However, the choice of stores and shopping will largely depend on your area. The app will display only those online and offline stores that are in your region.

Step-6: Invest with Cash App

Yes, you can do some investments with Cash App too. There are some terms and conditions that apply when you make investments using Cash App.

Therefore, read these carefully. Stocks, ETFs and cryptocurrencies are some assets on which you can invest using Cash App. There are some bonuses and cashbacks for such investing available through the app.

Step-7: Cash Card Boosts

You get a free, digital Cash Card when you sign up for Cash App. This is a Visa-branded debit card. Using the card enables you to unlock a feature called ‘Cash Card Boost’. This means you spend less on certain items while shopping.

It “boosts” the value of your money and pays less on featured products and services when you use Cash App.

Fees on Cash App

Cash App doesn’t charge a fee to send or get money. However, if you want instant credit to your Visa card, they charge between 0.75 per cent and three per cent of the value as their fees. In such cases, you get the cash instantly, if you use the option.

Should you wish to avoid these fees, simply wait for Cash App to credit the money to the account. This takes between 24 hours to 72 hours in most cases. In some instances, foreign remittances could face a delay.

Cash App Bitcoin

There’s a feature that enables you to invest in Bitcoin, the cryptocurrency, directly from Cash App. Since a Bitcoin is very pricey, you can invest in its fractions, known as the Satoshi.

The value of your investment in Satoshi rises when the price of Bitcoin surges. Alternatively, you can use the standard investment feature on Cash App for investing in stocks, ETFs and other such assets.

Conclusion

Cash App is a good app to have on your phone. However, before you download and use it, I suggest that you read all reviews of Cash App carefully. Also, read their terms and conditions of use since you might not like some of their rules. Regardless, Cash App is a good app for cash transactions too since they don’t charge fees for regular transfers.