How To Buy Stocks On Cash App

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Cash App, a popular mobile payment service developed by Square (founded by Twitter CEO Jack Dorsey), lets people transfer money to each other.

Six years after its creation, Cash App expanded its services to offer consumers free stock trading. The stock trading feature grew in popularity among both heavy investors and occasional investors.

The platform's popularity recently blew up when it stood out as an alternative to legacy broker platforms that have yet to fully embrace the free trading trend. Let Benzinga show you how to buy stocks on Cash App.

About Cash App Invest

Square's Cash App Invest feature is a great option for investors looking for a free and convenient way to trade stocks. The platform caters mostly to investors with zero to minimal knowledge of stocks.

The front page of the Cash App Invest lets you see commonly traded stocks over the past 30 days, a great option if you need help picking stocks.

One of the more unique features of Cash App that separates itself from legacy banks is the ability to buy and sell fractional shares. For example, let's say you have $500 to invest. You can buy 0.15 shares of Amazon.com, Inc. (NASDAQ: AMZN) or around 0.6 shares of Tesla Inc (NASDAQ: TSLA).

Buying Stocks on Cash App

If you have just signed up for a Cash App account, here is a step-by-step guide to get started.

Download Cash App.
You can access the stock trading platform through the investing tab. Once there, check out stocks in your watchlist along with the most traded monthly stocks and biggest daily movers. Download Cash App here.
Go to the Invest tab.
Decide which company you want to buy in Cash App's curated list.
Pick a company.
Tap on the company's name to open a new page to see the stock's daily performance and look at the stock chart.
Pick an amount and buy.
Once you are ready to buy, simply click on the "Buy" button and input how much money you want to invest in the stock.
Complete registration.
Before you can make the purchase, the app will ask to confirm a few pieces of regulatory and legal information and to make sure you're a U.S. resident, aged 18 or older.
Confirm your trade.
Once complete, confirm the details of the trade. Click the "Confirm" button to finalize the transaction.

Cash App Alternatives to Buy Stock

Despite a surge in popularity throughout 2020 and into 2021, Cash App is still a very young platform with minimal value-added features. If all that matters to you is free trading, Cash App is a great platform for your investment needs.

If you want more out of your broker without compromising free trading, you can tap into a few alternative options.

Stocks Available on Cash App

Not all stocks are available on Cash App but they do have a nice selection and they break out the categories for you to easily find stocks. They have:

Banking & Finance
Business Services
Energy
ETFs
Food & Drink
Health
Media & Entertainment
Shopping
Sports & Gaming
Technology
Tourism
Transporation

Buying Bitcoin on Cash App

Buying Bitcoin is similar to buying stocks on the app. You still go over to the investing tab but you toggle over to "Bitcoin" instead.

From there, you have a buy, sell or send Bitcoin option. Here's what to do from there:

Select "buy".
Choose a frequency.
Select the dollar amount.
Order.

You'll have then added Bitcon to your Cash App portfolio. As of this writing, the only cryptocurrency you can purchase on Cash App is Bitcoin.

Cash App Alternatives to Buy Bitcoin

Take a look at some other exchanges you can buy Bitcoin and other cryptocurrencies.

eToro

get started securely through eToro's website

Disclosure: eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.

1 Minute Review

eToro, headquartered in Cyprus, England and Israel, has provided forex products and other CFD derivatives to retail clients since 2007. A major eToro plus is its social trading operations, including OpenBook, which allows new clients to copy trade the platform's best performers. Its social trading features are top notch, but eToro loses points for its lack of tradable currency pairs and underwhelming research and customer service features

Best For

U.S. based cryptocurrency traders
Social and copy traders
Simple user interface
Community engagement and following other traders

Pros

25 cryptocurrencies
Expansive network of social trading features
Large client base for new traders to imitate

Cons

U.S. traders can only buy cryptocurrency

1 Minute Review

Gemini is a cryptocurrency exchange and custodian that offers investors access to 26 coins and tokens. Founded in the US, Gemini is expanding globally, in particular into Europe and Asia. Offerings include both major cryptocurrency projects like Bitcoin and Ethereum, and smaller altcoins like Orchid and 0x.

Gemini is 1 of the only brokers with multiple platform options based on skill level. New investors will love the streamlined interface of Gemini's mobile and web apps, while advanced investors might appreciate all the tools that come with ActiveTrader.

In addition to a host of platform choices, Gemini users also have access to insured hot wallets to store tokens without worrying about digital asset theft. Learn more about what Gemini can do for you in our review.

Best For

New investors looking for a simple mobile and web app
Experienced investors who need a more advanced platform with more tools
Users looking for a 1-stop-shop to buy, sell and store all of their coins

Pros

Easy and quick signups — can get started in as little as a few minutes
Multitude of platforms to accommodate traders of all skill levels
Hot wallets include insurance to protect your from theft and hacking attempts

Cons

Charges both a commission and a convenience fee for users buying and selling through the desktop or mobile app

1 Minute Review

Maybe you think cryptocurrency is the future, or perhaps you were swept up in the initial waves of Bitcoin. BlockFi may be your next step if you're ready to evolve as a crypto investor.

Whether you're a native crypto user or curious enough to start investing, BlockFi seeks to bring institutional-grade financial products to crypto markets that often face restricted access. It strives to bring clients low-cost, simple applications designed to maximize the potential of crypto assets. Learn more in our BlockFi review.

Best For

Crypto native clients
Crypto curious clients

Pros

Mostly fee-free platform
Market-best interest rates
Earn interest, trade and borrow from a centralized hub using the BlockFi app

Cons

Mostly restricted to those with a base knowledge of cryptocurrency
No dedicated relationship with an investment advisor, so best for those who have a solid handle on crypto trading

Decide Whether Cash App is Right for You

Cash App Investing accounts are FREE to open, require no minimum balance to maintain and charge no commission fees except for potential fees imposed by the SEC. You can set up automatic stock or crypto buys to happen every day, every week or every 2 weeks.

Head over to Cash App to get started.

Frequently Asked Questions

Does Cash App require a bank account?

asked 2021-05-15

Luke Jacobi

Cash App verifies you through a phone number or email address.

Answer Link

answered 2021-05-15

Benzinga

What is the maximum amount you can send on Cash App?

asked 2021-05-15

Luke Jacobi

Cash App allows you to send $1,000 over 30 days.

Answer Link

answered 2021-05-15

Benzinga

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Methodology

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Disclaimer: These stocks are not stock picks and are not recommendations to buy or sell a stock. Rather, these ideas should be viewed as potential opportunities for elevated levels of volatility and trader interest and thus increased liquidity. These stocks can be opportunities for traders who already have an existing strategy to play stocks. Benzinga does not recommend trading or investing in low-priced stocks if you haven't had at least a couple of years of experience in the stock market. For a full statement of our disclaimers, please click here .