Key Highlights
- Cash App has completely eliminated fees on Bitcoin purchases over $2,000, making large buys significantly cheaper than typical crypto exchange rates.
- Eligible users now enjoy Bitcoin withdrawal limits increased by up to five times previous levels, facilitating easier transfers to self-custody wallets.
- These fee-free large purchases and higher limits advance Jack Dorsey’s vision of “living on Bitcoin” by enhancing everyday usability through Cash App’s growing suite of Bitcoin features.
Cash App, the popular mobile payment platform owned by Block Inc. and led by Bitcoin advocate Jack Dorsey, has announced the complete removal of fees on Bitcoin purchases larger than $2,000.
The changes, rolled out on February 10, notes that the platform does not charge any fees on purchasing Bitcoin via the auto buy feature for users paying 2%, 1.5%, and 9% on the purchases within the brackets of $1-$500, $501-$1000, and $1001-$2000, respectively. This is notable contrast to other crypto exchanges that usually charge 1% to 2.5% fees on any of the Bitcoin purchase transactions.
With eliminating fees entirely for larger buys, Cash App aims to make Bitcoin more accessible and practical for everyday use. Additionally, eligible users now benefit from Bitcoin withdrawal limits being increased by up to five times previous levels.
The peer-to-peer money transfer app positioned these enhancements as foundational steps toward “living on bitcoin.” The app already supports features like getting paid in Bitcoin through direct deposits, automatic dollar conversion, turning spare change into Bitcoin. The app also has integration with tools like Bitcoin Map for spending and Bitkey for self-custody hardware wallets.
Jack Dorsey’s love for Bitcoin
Jack Dorsey, Co-Founder of Twitter (now X) and Executive Chair of Block, has long championed Bitcoin as more than just an investment. He has envisioned Bitcoin as genuine everyday money and a global currency for financial inclusion.
Since integrating Bitcoin into Square (now part of Block) over a decade ago, Dorsey has consistently pushed for its adoption. He has publicly supported the adoption of Bitcoin, describing it as “the native currency of the internet” and advocated for its use in daily transactions.
Through Cash App, Dorsey has pushed Bitcoin into a mainstream financial ecosystem, from fee-free direct deposit conversions to merchant acceptance. With initiatives, such as enabling instant Bitcoin payments via Lightning Network and no fees until 2027, underscore his commitment to push adoption for the largest cryptocurrency further.
Dorsey has also shared plans to integrate Bitcoin on Block—a conglomerate that manages Square, Cash App, Tidal, and other Bitcoin-focused initiatives—by this year.
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