How to enable on chain transactions on cash app?
On-chain transaction denotes a safe and secure transaction process that is unalterable once verified and recorded by the network. However, the speed of transactions might vary as their validity depends on their blockchain state.
Blockchain transactions are considered valid only when the transaction reflects in the public ledger. The processing time is often slow when blockchain transactions are pursued.
If you do not wish to send your money off-chain but instead want an on-chain transaction, here are a few steps you must follow.
- Click on the Bitcoin option from your Home screen and then the Airplane mode tab.
- Click on the send bitcoin option after scanning the QR code automatically or by manually entering the external wallet address.
- If you have entered the wallet address, then click on the Confirm tab and then on the Next button.
- Choose a withdrawal speed and then click on the Confirm option to initiate sending the bitcoins.
How long does it take to enable on-chain transactions on Cash App?
With expected delays, the process could haul not more than 5 days for confirming the on-chain transactions on the Cash app.
What does enable on-chain transactions mean Cash App?
Enabling on-chain transactions means verifying your account’s eligibility for sending money through the blockchain ledger. Only verified and enabled Cash app accounts can move forward with blockchain bitcoin transactions. Since on-chain transactions are done to ensure the safety and security of the transaction process; it is often a pre-requisite to know the source of transaction well when transferring money through blockchain.
How to enable Bitcoin on Cash App?
Cash app does not discriminate between off-chain and on-chain transactions. For initiating any type of bitcoin transaction whether off-chain or on-chain, there is just one approval process. Use the below process to get approved for enabling bitcoin transfer on the Cash app.
- For initiating the process, users must log in to their Cashapp account. From the Bitcoin section, click on the enable withdrawals and deposit option marked on the right side of the screen.
- The next step will require adding your email ID, reason and details seeking permission for bitcoin use.
- Include your income and employment details in the given segments.
- Submit a government ID or your driver’s license e-copy.
- Finally, file up a neat and clear photograph of your face.
- Once the process is complete, the app will begin verifying your details.
- It can take up to 48 hours normally or longer depending on the information provided.
- Verification in progress message will appear on the screen. Post completion of verification, you will be notified via mail or message about your verification status.
If you want to open up your Cash app account for bitcoin transactions, then read the process from this blog. The bitcoins can be transacted easily through the Cash app, and to know more, refer to this blog for essential details.