Are there any fees associated with receiving money on Cash App through cryptocurrency transactions?
![avatar](https://download.bydfi.com/api-pic/images/avatars/RfcEw.png)
Can you tell me if there are any fees that I need to pay when receiving money on Cash App through cryptocurrency transactions? I want to make sure I understand the costs involved before I start using this feature.
![Are there any fees associated with receiving money on Cash App through cryptocurrency transactions?](https://bydfilenew.oss-ap-southeast-1.aliyuncs.com/api-pic/images/en/63/a40ca7e6fe5382330bbf1172a50d4d60a694e2.jpg)
3 answers
- Yes, there are fees associated with receiving money on Cash App through cryptocurrency transactions. When you receive money in cryptocurrency, Cash App charges a fee of 1.5% for each transaction. This fee is deducted from the total amount you receive. So, if you receive $100 worth of cryptocurrency, you will actually receive $98.50 after the fee is deducted. It's important to keep this fee in mind when using Cash App for cryptocurrency transactions.
Feb 18, 2022 · 3 years ago
- Absolutely! Cash App does charge a fee for receiving money through cryptocurrency transactions. The fee is 1.5% of the total transaction amount. For example, if you receive $100 worth of cryptocurrency, you will be charged a fee of $1.50. This fee will be deducted from the amount you receive. So, you will actually receive $98.50. It's always a good idea to be aware of the fees involved in any financial transaction.
Feb 18, 2022 · 3 years ago
- Yes, there are fees associated with receiving money on Cash App through cryptocurrency transactions. Cash App charges a fee of 1.5% for each transaction. For example, if you receive $100 worth of cryptocurrency, you will be charged a fee of $1.50. This fee will be deducted from the total amount you receive. So, you will actually receive $98.50. Keep in mind that these fees may vary depending on the current market conditions and the specific cryptocurrency you are receiving.
Feb 18, 2022 · 3 years ago
Related Tags
Hot Questions
- 89
How does cryptocurrency affect my tax return?
- 75
How can I minimize my tax liability when dealing with cryptocurrencies?
- 65
What are the best digital currencies to invest in right now?
- 60
What are the tax implications of using cryptocurrency?
- 40
What are the best practices for reporting cryptocurrency on my taxes?
- 37
What are the advantages of using cryptocurrency for online transactions?
- 36
How can I buy Bitcoin with a credit card?
- 27
What is the future of blockchain technology?