For BTC purchase and withdrawal, does Cashapp have ANY hold like Coinbase?

[HubbaHubba]

I am not an expert in Crypto and I tried purchase N. I opened up a Coinbase Pro account and here are the problems:

1. $250 daily limit for deposit to Coinbase Pro. So I have to wait at least 3 days to deposit more
2. Once the deposit is done, I can immediately buy any Crypto, including BTC. However, I CANNOT withdraw the BTC for 14 days, even if Coinbase already took the money from my bank account.

So if I want to purchase N, I have to wait at least 17 business days.

If you have used Cashapp to purchase BTC, can you tell me:

1. If the deposit to Cashapp is instant? If yes, what is the deposit method (e.g. debit card, bank account, etc.)
2. Once the deposit is shown in Cashapp, can you buy BTC immediately or is there a holding period?
3. Once you purchase BTC, can you immediately withdraw it to a wallet or is there a holding period?

 

[Riddle]

I am not an expert in Crypto and I tried purchase N. I opened up a Coinbase Pro account and here are the problems:

1. $250 daily limit for deposit to Coinbase Pro. So I have to wait at least 3 days to deposit more
2. Once the deposit is done, I can immediately buy any Crypto, including BTC. However, I CANNOT withdraw the BTC for 14 days, even if Coinbase already took the money from my bank account.

So if I want to purchase N, I have to wait at least 17 business days.

If you have used Cashapp to purchase BTC, can you tell me:

1. If the deposit to Cashapp is instant? If yes, what is the deposit method (e.g. debit card, bank account, etc.)
2. Once the deposit is shown in Cashapp, can you buy BTC immediately or is there a holding period?
3. Once you purchase BTC, can you immediately withdraw it to a wallet or is there a holding period?

For cashapp you use a debit card, and there should not be a holding period and you can immediately transfer it to another wallet. However you have one shot at this, because once you transfer to another wallet they will most likely ban you from buying btc again. It happened to me

 

[HubbaHubba]

For cashapp you use a debit card, and there should not be a holding period and you can immediately transfer it to another wallet. However you have one shot at this, because once you transfer to another wallet they will most likely ban you from buying btc again. It happened to me

That's odd. Did Cashapp just closed your account or ban just BTC purchase? Did Cashapp tell you why?

EDIT: you mentioned "debit card". I found out Coinbase have a debit card option, too. Now I am curious if you know if Coinbase Pro have the same immediate transfer to another wallet IF I purchase BTC via debit card?

 

[Cathy Ames]

Advice from an earlier discussion. Broken Bliss didn't mention getting banned. https://sanctioned-suicide.net/threads/the-n-files-2-0.82469/page-8#post-1543059

 

[Riddle]

That's odd. Did Cashapp just closed your account or ban just BTC purchase? Did Cashapp tell you why?

EDIT: you mentioned "debit card". I found out Coinbase have a debit card option, too. Now I am curious if you know if Coinbase Pro have the same immediate transfer to another wallet IF I purchase BTC via debit card?

Yea I remember one user used coinbase without a problem, for me, I got the same limitation as you whether I tried debit or bank account and many others have reported the same problem.

What happened with cashapp for me, is I bought $5 of btc then sent it to another wallet of mine that is one of the more anonymous wallets and after I did that I was no longer allowed to buy btc on cash app.

 

[NSA]

Is cash app a wallet too, or do I need a separate one to send the bitcoin out?

 

[HubbaHubba]

UPDATE: I created an Cash App account, added my debit card, went through the identity verification (e.g. uploaded my driver license, etc). Tried to purchase Bitcoin and I get:

"You are unable tp pruchase Bitcoin at this time"

My debit card have high limit, I have enough money in bank account and no issue with my verification.

So Cash App is out for me... unless someone can tell me something else?

 

[Cynic]

I am not an expert in Crypto and I tried purchase N. I opened up a Coinbase Pro account and here are the problems:

1. $250 daily limit for deposit to Coinbase Pro. So I have to wait at least 3 days to deposit more
2. Once the deposit is done, I can immediately buy any Crypto, including BTC. However, I CANNOT withdraw the BTC for 14 days, even if Coinbase already took the money from my bank account.

So if I want to purchase N, I have to wait at least 17 business days.

If you have used Cashapp to purchase BTC, can you tell me:

1. If the deposit to Cashapp is instant? If yes, what is the deposit method (e.g. debit card, bank account, etc.)
2. Once the deposit is shown in Cashapp, can you buy BTC immediately or is there a holding period?
3. Once you purchase BTC, can you immediately withdraw it to a wallet or is there a holding period?

I've used CashApp before for crypto without a problem, but I do have problems with it seemingly randomly. Although, I only have problems with some debit cards.
You can try IRL Bitcoin ATMs, although they will have pretty bad rates for BTC. I've also used strike.me in the past, although my account randomly got set to $10 a week, so I'm unable to use it really. Strike is my favorite platform I've used previously, but sadly I can't use it anymore. Right now I'm using OnJuno for crypto if needed but it's a bit inconvenient, so I only use it if Cashapp won't work for me.

 

[Cathy Ames]

UPDATE: I created an Cash App account, added my debit card, went through the identity verification (e.g. uploaded my driver license, etc). Tried to purchase Bitcoin and I get:

"You are unable tp pruchase Bitcoin at this time"

My debit card have high limit, I have enough money in bank account and no issue with my verification.

So Cash App is out for me... unless someone can tell me something else?

Here's what I would do if trying to solve this problem. I would google "You are unable to purchase Bitcoin at this time" (including the quotation marks) and read some of the Reddit posts and other credible looking places to see what solutions or explanations have been found. Cursory googling makes it look like maybe you have to put funds into Cashapp to buy it vs. buying directly with the debit card, but *I DON'T KNOW IF THAT IS TRUE.* I'm guessing you've done it already but look in the terms of service.

EDIT: Again, knowing you, you already know this and have tried it, but in case you don't...

Buying Bitcoin

Purchasing bitcoin requires that you have a balance in your Cash App

cash.app

It says you need to have a balance. It doesn't say that the balance has to be large enough to cover the entire purchase, but that may also be true. Disclaimer: I in no way understand BTC!!!!!!

EDIT2: Disclaimer number 2: I also in no way understand Cashapp!!!!!!

Here's what I would do if trying to solve this problem. I would google "You are unable to purchase Bitcoin at this time" (including the quotation marks) and read some of the Reddit posts and other credible looking places to see what solutions or explanations have been found. Cursory googling makes it look like maybe you have to put funds into Cashapp to buy it vs. buying directly with the debit card, but *I DON'T KNOW IF THAT IS TRUE.* I'm guessing you've done it already but look in the terms of service.

P.S. @HubbaHubba do you understand what's going on with the crypto "crash" thing? [I don't, but I am wondering if this is a good time to buy and whether sellers are as happy to accept it now.]

 

[wljourney]

P.S. @HubbaHubba do you understand what's going on with the crypto "crash" thing? [I don't, but I am wondering if this is a good time to buy and whether sellers are as happy to accept it now.]

The value of BTC has been "crashing" to levels of about 1 yr ago. Value decreased about 50% since November.

IMO that's why D is also accepting MoneyGram and WU now, but he does also still accept BTC.

@HubbaHubba
Coinbase seems to distinguish between "withdrawal" (as in return $$ to your own account) and "sending BTC to someone's wallet" (which is what you want to do).
Have you contacted Coinbase and asked specifically how soon you can send BTC to a BTC wallet?


They also distinguish between Coinbase and coinbasePro accounts. You may need both (CoinbasePro seems to be mostly for trading and Coinbase is for sending wallet to wallet?)

If this is such a hassle for you, have you considered using WesternUnion? I am sure D will accept this if you ask him.

 

[HubbaHubba]

@HubbaHubba
Coinbase seems to distinguish between "withdrawal" (as in return $$ to your own account) and "sending BTC to someone's wallet" (which is what you want to do).
Have you contacted Coinbase and asked specifically how soon you can send BTC to a BTC wallet?


They also distinguish between Coinbase and coinbasePro accounts. You may need both (CoinbasePro seems to be mostly for trading and Coinbase is for sending wallet to wallet?)

If this is such a hassle for you, have you considered using WesternUnion? I am sure D will accept this if you ask him.

I reached out to Coinbase and the reason is because if you fund the BTC purchase via bank account deposit (not wire), they automatically put a hold between 4-14 days for any withdrawal, including withdrawing BTC to a wallet. They said it's their "policy" using their "risk method".

D didn't mention Western Union (WU) when I reach out to them. However, my fund is now tied to BTC in Coinbase and if I do WU, I have to come up with another amount. :(

Here's what I would do if trying to solve this problem. I would google "You are unable to purchase Bitcoin at this time" (including the quotation marks) and read some of the Reddit posts and other credible looking places to see what solutions or explanations have been found. Cursory googling makes it look like maybe you have to put funds into Cashapp to buy it vs. buying directly with the debit card, but *I DON'T KNOW IF THAT IS TRUE.* I'm guessing you've done it already but look in the terms of service.

EDIT: Again, knowing you, you already know this and have tried it, but in case you don't...

Buying Bitcoin

Purchasing bitcoin requires that you have a balance in your Cash App

cash.app

It says you need to have a balance. It doesn't say that the balance has to be large enough to cover the entire purchase, but that may also be true. Disclaimer: I in no way understand BTC!!!!!!

EDIT2: Disclaimer number 2: I also in no way understand Cashapp!!!!!!

P.S. @HubbaHubba do you understand what's going on with the crypto "crash" thing? [I don't, but I am wondering if this is a good time to buy and whether sellers are as happy to accept it now.]

You are correct - one need to deposit cash to Cashapp and then purchase BTC. From my research, Cashapp have some sort of AI to monitor for fraud.

So if you open a Cashapp and tried to immediately buy BTC with no fund, it'll show as "failed" transaction. I didn't know that I need to transfer cash to Cashapp first, so I have multiple failed transaction. When I realized this, I tried to transfer cash to Cashapp and that failed too.

So now Cashapp fraud monitoring AI saw multiple repeated failed transaction and blocked me from transferring cash AND purchasing BTC. From my research, there's nothing one can do other than wait for the "block" to be lifted, which can be 1-2 days.

 

[wljourney]

I reached out to Coinbase and the reason is because if you fund the BTC purchase via bank account deposit (not wire), they automatically put a hold between 4-14 days for any withdrawal, including withdrawing BTC to a wallet. They said it's their "policy" using their "risk method".

D didn't mention Western Union (WU) when I reach out to them. However, my fund is now tied to BTC in Coinbase and if I do WU, I have to come up with another amount. :(

You are correct - one need to deposit cash to Cashapp and then purchase BTC. From my research, Cashapp have some sort of AI to monitor for fraud.

So if you open a Cashapp and tried to immediately buy BTC with no fund, it'll show as "failed" transaction. I didn't know that I need to transfer cash to Cashapp first, so I have multiple failed transaction. When I realized this, I tried to transfer cash to Cashapp and that failed too.

So now Cashapp fraud monitoring AI saw multiple repeated failed transaction and blocked me from transferring cash AND purchasing BTC. From my research, there's nothing one can do other than wait for the "block" to be lifted, which can be 1-2 days.

Good lord is this effed up and frustrating!!!

I did have an issue w my bank blocking my funding transfer at first (fraud alert) but that was fixed within a few hours and a couple phone calls. Then it was all smooth sailing with BB (not available in the US).

I'm really sorry you are running into so many issues!

 

[HubbaHubba]

Good lord is this effed up and frustrating!!!

I did have an issue w my bank blocking my funding transfer at first (fraud alert) but that was fixed within a few hours and a couple phone calls. Then it was all smooth sailing with BB (not available in the US).

I'm really sorry you are running into so many issues!

Thanks, @wljourney.

It's quite disheartening that trying to CTB in a proper way is so difficult.

 

[HubbaHubba]

UPDATE: so I chatted with Cash App support and for whatever reason, my bank is blocking ANY transaction with Cash App. I tried it with 3 other different banks and they ALL BLOCKED Cash App.

These are 4 of the largest banks in the US and all of them are blocking Cash App transfer. My banks will not budge - it's their policy they said.

So Cash App is out for me and now I am back with Coinbase and have to wait 17 business days.

 

[Cathy Ames]

UPDATE: so I chatted with Cash App support and for whatever reason, my bank is blocking ANY transaction with Cash App. I tried it with 3 other different banks and they ALL BLOCKED Cash App.

These are 4 of the largest banks in the US and all of them are blocking Cash App transfer. My banks will not budge - it's their policy they said.

So Cash App is out for me and now I am back with Coinbase and have to wait 17 business days.

I don't understand this. How does anyone ever manage to use it, then? Yikes!

 

[HubbaHubba]

I don't understand this. How does anyone ever manage to use it, then? Yikes!

Yeah, I don't understand it either. I spent the whole day today talking to Cash App and each banks and nothing can be done.

The only think I can think of: Cash App uses Debit Card to fund the money while Coinbase uses direct bank transfer. So maybe my banks look at the debit card transactions and tag it as "fraud".