Cryptocurrency like bitcoin is becoming a popular investment option for many people. Many apps allow you to purchase bitcoin, but many of them have strict limits on how much you purchase in a given transaction. You need to know how to increase the Cash App bitcoin limit to maximize your spending.
Unfortunately, there is no way to increase the Cash App bitcoin limit. Even if you verify your identity, you will still have to abide by their limits. The weekly purchase limit is $100,000 and you can deposit up to $10,000 every seven days.
For more information on how to stay within the limits, here is the breakdown of what you can spend.
How to Increase Cash App Bitcoin Limit
Before you commit to using the Cash App for all of your bitcoin purchases and investments, you need to know what the limits are. Those who do a lot of transactions with bitcoin might want to reconsider whether the Cash App is the right choice. After all, they do impose some pretty strict limits on how much you can invest on a weekly or monthly basis.
The weekly bitcoin purchase limit is quite high at $100,000.
You can deposit up to $10,000 worth of bitcoin in any seven-day period. Unfortunately, you are limited to five purchases per day.
You are also limited on how much bitcoin you can withdraw in a day or a week. The balance must be a minimum of at least 0.001 bitcoin if you plan to make a withdrawal. Every 24 hours, you can withdraw up to $2,000 worth of bitcoin. You can also withdraw up to $5,000 in a given seven-day period.
Many people want to spend more than this on a given day or a given week. They want to know how to increase the Cash App bitcoin limit. Unfortunately, there is no way to increase your bitcoin limit. The limits are the same even if you verify your account.
Higher Limits with Other Services: eToro
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If you want to invest more money in cryptocurrency than you can through the Cash App, it might make sense to consider other options. Other services like eToro and Binance.us offer higher limits that allow you to trade more frequently.
One of the other advantages of using these two services is the variety of cryptocurrencies you can purchase. In addition to Bitcoin (BTC), you can also purchase Litecoin (LTC), Bitcoin cash (BCH), Ethereum (ETH), and more. This is a great way to diversify your cryptocurrency holdings.
When it comes to purchasing bitcoin, eToro has clear limits defined for its users. Each transaction has a maximum limit of $50,000. However, you can make several transactions over the course of the day. As long as you do not spend more than $200,000, then you are good to go.
The limits are the same for the other forms of cryptocurrency as well.
Much like eToro, Binance.us features a long list of different cryptocurrencies that you can purchase if you want to branch out from basic bitcoin. Altogether, they have more than twenty types of cryptocurrencies that you can invest in, including:
Binance.us also has some fairly high limits on what you can spend with bitcoin. The minimum trade amount is 0.000001 BTC with a minimum price movement of $0.01 USD. The minimum order size is $10 but the maximum limit is 3200 BTC.
Unlike the other two apps listed here, there are some rules regarding transaction limits with Binance.us. You must verify your identity if you want to receive a higher limit on this platform. Keep in mind that transaction limits are based on the value of the Euro, even if you plan to pay in USD currency.
How to Increase Limits on Binance.US
The first level of verification requires your name, address, and date of birth. This is fairly easy to accomplish, and you will get a transaction lifetime limit of just €300.
The second verification stage will increase your transaction limit to €5,000 per day. In order to achieve this level, you will have to prove your identity and face. You will present a copy of a valid photo ID and a selfie to prove identity.
You will either need to have the Binance app installed on your smartphone or you will need to use a computer with a webcam to prove your identity.
Last but not least, you can have a €50,000 daily transaction limit if you verify your address. To prove this, you must submit a statement with a matching name, a matching address, and a date of issue within the past ninety days. Valid forms to prove your address include:
- Bank statements
- Brokerage statements
- Credit card statements
- Utility bills
- Mortgage statements
- Property tax statements
You can increase your daily limit beyond €50,000 but you will need to contact their customer service department for more details.
How to Increase Cash App Bitcoin Limit: Not Possible
If you want to learn how to increase the Cash App bitcoin limit, you should be aware that there is no way to do so. However, there are other services such as eToro and Binance.us that are available to offer high limits when it comes to purchasing cryptocurrency. Consider making the switch to one of these platforms. You could also look into maxing out your purchases by using a combination of these convenient platforms.