You can cash out your cash app balance in Nigeria by following some steps, starting with logging in.
Cash App has become widely known as a convenient way to send and receive money. It’s popular among workers in the creative industry, especially freelancers who work with foreign clients. The platform has simplified the process of receiving payments online. But what if you want to convert your Cash App balance into physical cash in Nigeria?
This article will show you how to cash out your Cash App balance in Nigeria. We’ll also discuss alternative methods for accessing your money.
Overview of Cash App
Cash app is a payment platform that lets users send and receive money online. Not only does it enable quick payments, but it also allows users to buy Bitcoin and stocks through its platform. Additionally, there’s a tax filing feature that lets users file their taxes.
So it’s safe to say that Cash app is a sophisticated payment and finance management platform that facilitates quick p2p payments, stock/crypto purchases and tax filing.
Cash app was introduced to the market in October 2013 as Square Cash. It has grown over the years to become the financial payment and investment platform it is now. The platform is only available to users in the UK and USA.
Understanding Cash App Balances
Your cash app balance refers to the funds in your cash app wallet that is available for use. It’s not locked in a pending transaction.
You can view your Cash App balance on the app or online.
Your cash app balance differs from your linked bank account or credit/debit card.
Can You Use Cash App in Nigeria?
Cash App is currently not supported in Nigeria. But there are still ways to use the platform.
With a VPN, you can use Cash App even in Nigeria.
What are the cash-out options?
To Cash Out means to withdraw the funds in your Cash App balance. For normal Cash App accounts in the UK or US, there are three withdrawal methods and they are
- Bank transfer
- ATM withdrawals
But in Nigeria, there are two ways to cash out your cash app balance in Nigeria.
Bank Transfer
This method involves sending funds to a linked bank account or debit card. Since Cash App balances are in USD, and you cannot link a Nigerian bank account, you can link your US account if you have one. If you don’t, the bank transfer option is not for you.
Bitcoin Withdrawal
This is the only way to withdraw your Cash app balance in Nigeria without a US bank account or debit/credit card. Cash App allows accounts in any of its supported countries to withdraw Bitcoin.
Here’s how to do it:
- Open your Cash App mobile app or log in to your account online.
- Tap USD on your screen and choose Bitcoin.
- Input the amount of Bitcoin you want to withdraw in Bitcoin or USD. You can switch between the two using the toggle.
- At the top left of your screen, you can access a QR code to scan or simply manually input the Bitcoin wallet address.
- Click on Wallet Address for confirmation and click Next.
- Choose a withdrawal speed and click Confirm & Send to signal the server to process your request.
When you receive your Bitcoin, you can sell it for cash on a digital exchange platform like Prestmit.
How to Sell Your Bitcoin for Cash on Prestmit
Here’s how to sell Cash App Bitcoin for cash on Prestmit.
- Download the Prestmit app on the App Store or Google Play Store.
- Sign up or sign in if you have an account.
- On your app dashboard, tap the sidebar toggle on the top left corner and open the rate calculator.
- On the crypto rate calculator, choose Bitcoin and enter the amount you want to sell in USD. You’ll see the equivalent in Naira.
- Tap Sell Crypto and generate your Bitcoin wallet.
- Scan the QR code or copy the wallet address to transfer your Cash App Bitcoin to it.
- As soon as you send the Bitcoin, it’ll be converted to Naira and you can withdraw it to your Nigerian bank account.
Alternatively, you can make the process much easier by generating your Prestmit Bitcoin wallet, copying the address and using it as the destination for your Cash App withdrawal,
Conclusion
You can cash out your cash app balance in Nigeria through one sure method – Bitcoin withdrawal.
Cash App is one of the most convenient and safest ways to receive and send money. However, the platform does not support Nigerian accounts. So, to use Cash App in Nigeria, you must use a VPN.
To withdraw your Cash App balance, follow the steps outlined in this article. Take note of the extra bits of information regarding converting your Bitcoin to Naira.
While carrying out these transactions, ensure you keep your details secure. To use Prestmit for Bitcoin to cash transactions, sign up.
