Sending stock or bitcoin
You tin can send stock and bitcoin to your friends and family for free using your Greenbacks Residual or linked card. Yous do not need to ain any stocks or bitcoin to send information technology.
On the main payment pad:
- Enter the amount, in USD, of stock or bitcoin yous would like to send
- Enter the recipient’s $Cashtag and select “send as” Stock or Bitcoin
- (Stock simply) Search for the stock or company name
- (Stock just) Select the stock y’all would similar to send
- Tap next and follow the prompts to confirm send
You can also send stock from any stock detail page by tapping on the gift icon.
Common use cases for sending stock or bitcoin
- Splitting bills and paying friends or family
- Gifting and appreciation
- Getting friends or family started with Investing
Sending stock from the main payment pad:
*Images are for illustrative purposes only and non a recommendation
Sending stock from the stock item page:
*Images are for illustrative purposes only and not a recommendation
Sending bitcoin from the main payment pad:
You lot can too ship bitcoin from your Bitcoin residual from the Bitcoin tab. Learn more than hither.
When you receive stock, y’all are receiving a transfer of funds that may be used to purchase that stock. Upon receiving stock, you take two options:
- Accept Stock: By accepting the stock, you lot use the funds sent to you to place a trade for that particular stock for your brokerage business relationship. If yous do not take a brokerage business relationship with Cash App Investing, you will exist required to create one first. If the market is open, the trade will exist placed immediately. If the market is closed, the trade will be scheduled for subsequently the adjacent market open up. Once the merchandise has completed, you lot volition see your stock under the My Portfolio department in the app. You are able to hold on to the stock or sell at whatsoever fourth dimension.
- Decline Stock: Declining the stock adds the funds to your Cash Balance.
Sent stock will expire after iii weeks if it’southward non accepted. When it expires, the payment volition be completed as cash instead of stock. For example, if yous receive $10 worth of stock and do not accept it, later on 3 weeks the $10 will be added to your Cash Residuum.
When you receive bitcoin sent using Cash Rest or a linked menu, you lot are receiving a transfer of cash funds that may exist used to purchase bitcoin. Upon receiving bitcoin, you have two options:
- Accept Bitcoin: By accepting bitcoin, you use the funds sent to you to purchase bitcoin. If you lot have not verified your identity with Cash App, you will be asked to do so first. Later on a successful purchase of bitcoin, y’all are able to hold on to the bitcoin or sell or withdraw at whatsoever time.
- Decline Bitcoin: Declining the bitcoin adds the cash funds to your Greenbacks Residuum.
Similar to stock, sent bitcoin will expire after 3 weeks and be completed as cash if not accepted by the recipient.
If bitcoin was sent from the Bitcoin tab (more data here information technology’s a transfer of bitcoin.
Of import things to note:
Sending stock or bitcoin:
no fees or tax implications for sending stock or bitcoin
. Yous are merely sending USD earmarked for a particular stock or bitcoin. Note that yous tin can only ship stock or bitcoin to recipients over the age of xviii.
When a stock is accepted, a merchandise is placed for that particular stock in the amount that was sent. The merchandise will be placed at the stock’s marketplace price at the fourth dimension of acceptance. Once the merchandise is placed, the recipient owns the stock and it is theirs to hold or sell at their discretion.
Selling stock may have tax implications. If you lot have questions about your particular taxation situation, you should consult a tax advisor. You tin can learn more near stocks & taxes here. While Greenbacks App Investing does not accuse whatsoever fees per trade, there may be fees assessed that are required by regime agencies (such as the SEC). We will disembalm these fees prior to your confirmation of a trade, and they will exist listed in the merchandise confirmation. Investing involves risks and stocks may lose value.
When y’all accept bitcoin, as mentioned to a higher place an society is placed to purchase the corporeality of bitcoin sent. Greenbacks App may accuse a small-scale fee when yous purchase or sell bitcoin. If so, the fee will be listed on the trade confirmation before you complete the transaction.
Selling bitcoin may accept tax implications. If you lot take questions virtually your particular taxation state of affairs you should consult a tax advisor. Virtual currency values can fluctuate essentially which may result in a full loss of the value of the virtual currency in your hosted balance.
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