Risks to Buying Bitcoin

Using your Cash App, you can now purchase Bitcoin right from your device. To ensure the best experience, we’d like to make you aware of a few risks surrounding buying and selling Bitcoin.

As Bitcoin is a new form of digital currency there are some inherent risks.

  • The future value of Bitcoin is unpredictable – you should only buy with funds that you are prepared to lose. Please proceed at your own risk.
  • Markets rely on the availability of both buyers and sellers. As such, Square cannot guarantee that there will always be an active market to sell your Bitcoin.
  • While uninterrupted service is always our goal, we cannot guarantee access to the platform at all times.

Unlike physical currency, digital currencies are stored in digital wallets.

  • Your Bitcoin balance is stored using Square’s secure online/offline wallet system. Square holds your Bitcoin as a custodian at your risk.
  • Square may not always support Bitcoin withdrawals to an external wallet in an immediate fashion. This is a security feature.
  • Withdrawing to an external wallet is contingent on internal review and accurate and up to date ID verification information. Updating your personal information is to your benefit.

Your security is our priority, visit our security page to find out ways to make your account even more secure by ensuring that your personal information is protected across all the services you use.

Still need help? Ask the community

Visit community forum