April 11th, 2019
Selling Bitcoin using Cash App is as easy as ABC. This article is going to provide you with a step-by-step guideline, but first, let’s look a bit into what Cash App is and how it functions.
Cash App happens to be the best peer-to-peer (P2P) payment application that has really transformed the payment industry. Developed by Square Inc, one of the largest payment processing companies in the United States, this app allows users to transfer funds to one another and pay for goods, bills or services in simple and secure way.
Some of the platforms functioning like the Cash App include; Venmo, PayPal Inc., Facebook, Alphabet Inc., Amazon and Apple Inc. these platforms are direct competitors of the Cash App.
How it Works
The application is free and can be downloaded by users on their Android or iOS devices through the App Store or Google Playstore. Once downloaded, users simply need to link a debit card to the app, after which they can begin sending or receiving money from other users of the Cash App.
How to Sell BTC via Cash App
You probably know by now that before you can sell or buy BTC on Cash App you first need to download the app. After doing so, simply follow the easy steps below;
1. Log in to the Bitcoin of America website and click on Trade
2. You will be prompted to create an account
3. Click Sell on the far right top corner, and then enter the amount of BTC you intend to sell.
4. Next select Cash App as your payment mode
5. You will then be prompted to enter your Cash Tag –a unique name that identifies an individual or a business organization using Cash App. A Cash tag makes it easy and fast to send and receive cash.
6. Click Clear to sign your name
7. Agree to the terms and conditions of sale and finally,
8. Press Sell
Factors to Consider before Selling your BTC
First of all, you need to set up a BTC exchange account and store the coins in your digital wallet.
Secondly, you need to decide how much BTC you want to sell and decide on your trading strategy. Make sure you understand the market before selling. Also, keep in mind that the pricing of BTC depends on the quoted mid-market price, inclusive of a margin or spread. What the mid-market does is to combine the current selling price of BTC across other major exchanges and give users the average price.
The margin and price of selling BTC differs according to different platforms or exchanges involved. A margin is simply the Current price BTC is being sold at and the current price it’s being bought at.
Thirdly, avoid focusing so much on the current value of BTC but rather focus more on the market capitalization. This will help you determine when the right time to trade your BTC is. This is due to the fact that, the closer the market cap, the greater the demand to sell later.