Are you looking for a simple way to buy cryptocurrency? Two top contenders stand out: Cash App and Coinbase. While both platforms offer easy access to digital currencies, they cater to different needs beyond basic crypto transactions.
What Is Cash App?
Cash App is a peer-to-peer (P2P) payment app that also offers Bitcoin trading and stock investments. Launched in 2013 by Block, Inc. (formerly Square), it provides:
- Mobile banking and debit card services (via partner banks)
- Fractional stock investments (starting at $1)
- Bitcoin (BTC) buying, selling, and transfers
- Free tax filing through Cash App Taxes
👉 Discover how Cash App compares to other crypto platforms
How to Use Cash App
- Download the App – Available for iOS and Android.
- Link a Bank Account – Required for sending/receiving funds.
- Send/Request Money – Use a unique $Cashtag, phone number, or email.
- Buy Bitcoin – Navigate to the Bitcoin tab for transactions.
- Transfer Funds – Instant (with fees) or standard (1–3 business days).
What Is Coinbase?
Coinbase is a leading crypto exchange supporting over 150 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). Key features:
- Beginner & advanced trading options
- Staking rewards (earn interest on crypto)
- Non-custodial wallet (Coinbase Wallet)
Account Requirements
- Age 18+
- Government-issued ID
- Smartphone/computer with internet
- SMS verification
Fees Comparison
| Platform | Fee Structure |
|---------------|---------------------------------------|
| Cash App | ~2%+ on small purchases (<$100) |
| Coinbase | 0%–0.60% (Advanced) or flat fees up to ~1.5% |
Cash App doesn’t publish fees upfront, while Coinbase offers lower rates for high-volume traders.
Available Cryptocurrencies
- Cash App: Bitcoin (BTC) only.
- Coinbase: 150+ coins, including ETH, ADA, and USDC.
👉 Explore Coinbase’s full crypto list
Wallets & Security
- Cash App: Custodial Bitcoin wallet.
- Coinbase: Custodial + Coinbase Wallet (non-custodial).
Security Measures
| Platform | Protections |
|--------------|--------------------------------------|
| Cash App | FDIC-insured balances, cold storage for BTC |
| Coinbase | 2FA, 98% cold storage, FDIC insurance (up to $250K) |
Both platforms have faced breaches but offer robust recovery options.
FAQs
1. Can I buy altcoins on Cash App?
No—only Bitcoin is supported.
2. Which has lower fees for crypto trading?
Coinbase’s advanced trading offers the best rates.
3. Is Coinbase better for beginners?
Yes, with its intuitive interface and educational resources.
4. Does Cash App report crypto taxes?
Yes, via IRS Form 1099-B for Bitcoin sales.
5. Can I stake crypto on Cash App?
No—staking is only available on Coinbase.
Conclusion
Cash App excels for P2P payments and Bitcoin simplicity, while Coinbase is ideal for diverse crypto investments and trading. Choose based on:
- Diversity of coins → Coinbase
- Ease of use → Cash App
- Security → Both (but Coinbase has insurance)
Always research and secure your investments!