Can I Use Cash App to Cash Out My Betting Wins? Yes But Be Careful
Convert BTC to US dollar can be complicated if you live in the United States, some options such as LocalBitcoin.com depends on traders availability.
We want to use an easy to way to cash out ou betting wins and Cash App can be that solution. The San Francisco-payment based company Square has just made bitcoin (BTC) deposits available on its Cash App, opening a door to all those players that need to cash-out their betting wins.
However, you should have careful and don’t request payment from the sportsbook to your Cash App BTC address directly. Reported on SBRforum.com some players have confirmed account closed because of gambling-related deposits.
So, the best way to use Cash App to receive Bitcoin payments from your gambling activity is by creating a “bridge” it means that you can use a BTC wallet like blockchain.com to receive your payment then send it to Cash out App. In that way, they won’t find any reason to suspend your account because of gambling-related founds.
To deposit bitcoin into your Cash App
- Tap the profile icon on your Cash App home screen
- Press Deposit and follow the steps to view your Cash App bitcoin address
- Scan, copy or share your Cash App bitcoin address with an external wallet
- Confirm the transfer
Bitcoin withdrawals and deposits must be enabled to get started. You can deposit up to $10,000 worth of bitcoin in any 7-day period. Depending on network activity, it can take hours before transfers into or out of your Cash App are confirmed on the blockchain.
Take a look at our best Bitcoin Betting sites.