With money solutions such as transactions, taxes, Bitcoin, debit cards, and more, Cash App is seeing growing popularity recently. This one of the best finance apps is a perfect tool if you are a regular in the world of stock purchase and selling, Bitcoin transactions, and more.
If we have a look at the profit that this one of the best investment apps made in 2020, the official report by Square says the number touched $1230 million. Moreover, the number of users reached up to 36 million within the same year. In 2019, this number was limited to up to 24 million users.
Now, with the growing popularity of this online money transfer app, you might want to know everything about it. To assist you with the same, we are describing a detailed Cash App review further. Moreover, you will also find a detailed Cash App rating based on an in-depth analysis done by experts.
History of Cash App
Cash App started its journey on October 15, 2013, with the name “Square Cash”. The app introduced Square Cash in 2015 for businesses and other activities such as sending or receiving money. Moving further, Cash App started supporting Bitcoin services in 2018 and helped in generating $4.57 billion of sales by 2020. Later Cash App acquired Credit Karma Tax in November 2020 for a value of $50 million.
How does Cash App work?
This peer-to-peer transaction app works like any other money transfer app, but with some additional features. If questions such as “How does Cash App work and Is it safe?” ever bothered you, you can now relax as Cash App follows peer-to-peer encryption protocols for the security of your information. Apart from the money transfer, you can use Cash App to do other financial activities such as Investing in stocks, money deposits, Bitcoin transactions, and more.
Features of Cash App
Moving forward, we are discussing a few important advantages of having the Cash App on your smartphone. Later, you will find the Cash App rating based on the detailed app review.
1. Cash App Bitcoin wallet
If you are involved in Bitcoin-related activities, you can take advantage of features included with the Cash App such as Cash App Bitcoin deposit. This one of the top Bitcoin apps allows you to do activities such as buying, selling, deposit, and withdrawal of Bitcoins from the app itself.
2. Cash App Bitcoin to cash
As mentioned above, Cash App allows you to sell your Bitcoins from the app itself. Therefore, you can just convert Bitcoins you own in cash anytime you want. After you are done selling Bitcoin, you can deposit the value you received directly into your Cash App linked bank account, or you can just withdraw with the help of the Cash App cash-out feature.
3. Cash App stock trading
Well, Cash App is not missing this crucial trend as well. If you love the stock market, Cash App can be a perfect choice for you. With the same app, you have the freedom to invest in whichever stocks you want. The best thing about this one of the top trading apps is that there are no Cash App stock trading fees included in the entire process. However, you might have to pay the fee to government agencies. That information is given in the app itself.
4. Cash App stock buying limit
The trading limit by Cash App is related to multiple factors such as Add Cash limits or Cash App balance. However, there is a day trading system as well. The day trading system is directly dependent upon the market opening times. Moreover, the Cash App stock buying limit includes the rule of three-day-trades within a five-days-trading period.
5. Cash App money transfer
One of the very basic features Cash App offers is peer-to-peer money transfer. You can either receive the money into your linked bank account or Cash App wallet, or you can forward it to whoever you want. The money transfer process in Cash App is secured and fast. Therefore, you can say goodbye to long-term old-fashioned money transfer ways.
6. Customized Visa debit card
Cash App offers its own Cash Card (Debit card) as well. You can use the Cash Card in the virtual form, or use it as an ordinary ATM card once you receive it. The debit card hardly takes a week after your virtual Cash Card is released. This Cash App debit card can be used to make purchases, withdraw money, and much more. Moreover, the debit card of this best money transfer app is lashed with laser-etched technology to make it eligible for activities such as swipe, dip, or tap.
Pros and Cons of the Cash App
Cash App, just like others, has its advantages and disadvantages. However, the app is trying to assist its users by including the latest banking trends. Let’s have a look at them before we proceed towards the final review.
Pros of the Cash App
- Instant money transfer
- Bitcoin-related activities such as buying and selling
- Investment in stock and withdrawals
- Free debit card
- Discounts with cash boost
Cons of the Cash App
- Limited market
- Lacks a few crucial features
Additional information for the Cash App
MAD Ratings
Features- 4.6
Navigation- 4.7
Pricing- 4.7
Security- 4.8
UI/UX- 4.5
Conclusion
With many financial apps existing such as Venmo, Zelle, and Cash App, among others, the financial market is seeing a boost in such smartphone apps. However, thriving for all is a task impossible.
Recently, Cash App has seen growth due to its features such as send money online instantly, stock or Bitcoin trading, and more. Now, as long as developers of the Cash App keep upgrading it with regular updates, including USPs, the app will thrive.
Now, if you are a developer as well and reading this blog to get inspiration for your future app, it is advised for you to make sure your app is well-designed and includes USPs. If you are a new developer, you should first get your app reviewed and know the expected performance of your app in the related market. It will help you in finding out if your app is lacking something as well.
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Written By MobileAppDaily Team
MobileAppDaily host a team of experienced technical writers, industry wizards, and app experts who have an exact knack of content that caters to the needs of the mobile app targeted audience. We strive to bring you the best of tech!
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