5. Buy and Sell Fraction of Stocks
Cash App has gone as far as challenging the mobile trading apps such as Robinhood. Cash App is now offering its users the ability to trade individual stocks on its application for free. Additionally, you can trade fractional shares of stock in a similar way to the Stockpile app or Betterment app. This feature was originally launched in November 2019. Since its release, the mobile payment service’s dive into the investment space has taken off.
6. Follow Companies and Get Market Updates
Cash App allows you to keep trackof your favorite companies, create a watchlist, and get updates abou the most traded monthly or daily stocks. Additionally, Cash App shows you the biggst daily stock movers. These features are in par with those found in recently popular stock discussion platforms such as StockTwits. If you’re new to investing, you can read the CashApp guide on how to invest. It’s a very neat quick easy to understand guide for those who are new to the world of investing.
7. Use Cash App for Business
With Cash App, small-business service providers such as contractors, wedding photographers, or freelancers could have customers pay quickly at their Cash.me page instead of relying on cash or check payments. Cash App for Business accounts will receive a 1099-K form for those who accept over $20,000 and more than 200 payments* per calendar year cumulatively with Square. If you receive a payment on a business account, the business is charged 2.75% of the amount paid.
8. Pay or Get Paid with Cash Tags
A $Cashtag is a unique identifier for individuals and businesses using Cash App. Choosing a $Cashtag automatically creates a shareable URL (https://cash.app/$yourcashtag) where friends, family, and customers can make payments to you privately and securely.
9. Get a Customized Cash App Debit Card
The Cash Card is a Visa debit card which can be used to pay for goods and services from your Cash App balance, both online and in stores. Your Cash Card can be used as soon as you order it by adding it to Apple Pay and Google Pay, or by using the card details found in the Cash Card tab. The Cash Card is a free, customizable debit card that is connected to your Cash App balance. One cool feature of he Cash Card is that it can be custom designed. With this unique feature, you can select a color for your Cash Card, change your signature, and include emojis to set you apart from others with Cash Cards.
10. Add Cash App to Apple and Google Pay
You can add your Cash App to Google or Apple Pay and use your balance where these forms of payment are accepted. To add your Cash Card to Google Pay from the Cash App:
- Tap the Cash Card tab on your Cash App home screen
- Tap the image of your Cash Card
- Select Add to Google Pay Follow the steps
11. Get Government Stimulus Check Deposited to Your Account
On April 10, 2020, Cash App announced that users can now receive the government stimulus cash deposited in their Cash App account. To get your check, first see if you qualify on the IRS web portal. From there, you can provide your Cash App routing and account number to the IRS to receive your stimulus payment. To find your Cash App account and routing numbers, go to the banking tab on the bottom left of your Cash App home screen. If you don’t see the numbers you will need to sign up for a free Cash Card (see above). Lastly, don’t forget to sign up with our Cash App referral code to get $10 deposited in your account.
12. Automate Bitcoin Purchases
On May 19, 2020, The Cash App CEO, Jack Dorsey, announced that the app users can now schedule automatic bitcoin purchases. You can set the time interval for purchases to daily, weekly, or bi-weekly. With this feature, the Cash App is trying to compete with auto-invest apps such as M1 finance. This is a brilliant feature, because if the price of bitcoin drops suddenly (which it does quit often), then you can automatically average down your position in the digital asset.
13. Schedule Automatic Stock Purchases
The newest feature of Cash App is recurring stock purchases. This feature is similar to what you would find in some auto investing apps such as M1 Finance. With this feature, Cash App is stepping in to the world of portfolio building and long term investing. Note that there is a $10 minimum for recurring purchases and the frequency can be set to daily, weekly, or every two weeks.