Stocks play a vital role in the lives of all the investors around the globe. Before the inception of cryptocurrencies, it was mainly “Stocks” that people invested in and made a good profit out of it. And, even after cryptocurrencies made their way to the investment marketplace, stocks managed to maintain their position. Owing to that, one of the digital payment giants, Cash App, made it possible for users to invest in stocks through their platform. Thus, in today’s article, we’ll be having an in-depth look at Cash App stocks, how to buy them, along with the details that would help you in making a good profit out of them.
Starting our discussion with buying stocks on Cash App, we’ll end the article with learning some pros and cons of Cash App stocks and the details to cash them out. So, if you are interested to know the details on any one of these topics, we suggest you go through this article till the end and make sure that you apply the given steps sequentially.
Instructions on buying stocks on Cash App
In order to make the investment in Cash App stocks, make sure that you have a Cash App account already. In case you do not have an account on Cash App, then you can sign up for an account and then go ahead with this procedure for buying stocks on Cash App:
- To begin the procedure, make sure that you have signed up for a Cash App account
- After this, log in with your Cash App login details to access the investments page
- The “Investments” tab is available on your home screen, so click on it
- Now, choose the company name in which you need to invest by using the search bar
- Else, you can click on the “ticket symbol” to select the preferred company’s stocks
- After making the selection, you can click on the “Buy” button present next to the preferred stock
- Next up, select the pre-set amount for buying or enter a preferred amount in the given space
- Now, verify the details on the next page and confirm the transaction with your Touch ID
The chosen amount would be deducted from your Cash App balance or you can choose to pay through another payment method.
How to make money off Cash App stocks?
To make money out of your Cash App stocks, you need to sell the stocks that you own at a price higher than the purchase amount. Thus, you need to follow the steps that are listed below to sell off your stocks:
- From the home screen, spot and click on the “Investments” tab
- Now, scroll down, find and select the “Stocks owned” option
- If you own stocks from multiple companies, select one of them
- Now, press the “Sell” button present against it
- Then, select one of the pre-set amounts or enter a custom amount
- Finally, make the confirmation with your Touch ID/PIN
Now, the sold amount shall be added to your Cash App balance and you’ll be able to cash out the money whenever you want to. Moving on, let us now learn how to cash out the Cash App stocks.
How do I cash out my stocks on Cash App?
In order to cash out your Cash App stocks, you need to first sell off the stocks that you own and then cash out the balance that is available as a Cash App balance in your account. To learn how to sell off the stocks on Cash App, you can refer to the steps that are listed in the section and then follow the cash out steps as listed below:
- Begin the procedure by signing in to your Cash App account
- On the main screen, select the “Balance” tab
- Then, find and click on the “Cash Out” option
- Choose how much you wish to withdraw
- And, again click the “cash-out” option
- Now, select one of the options for deposit speed
- When prompted, enter the Cash App PIN or use your Touch ID to complete the transaction
The chosen amount would then be added to your bank account which you can withdraw as and when needed. With that learned, let us now learn about the pros and cons of Cash App stocks.
Cash App Stocks Pros and cons
Here, in this section, we’ll be reviewing Cash App in terms of its good and bad. So, go through this section carefully and you’ll be able to decide whether you should invest in stocks available on Cash App or not:
- They do not charge you any kind of convenience or commission fee for investing in Stocks
- The number of Stock options available on this exchange is huge
- Users can pretty conveniently use the option to invest in stocks
- The options to invest in stocks are limited as compared to other platforms
- In addition to that, you are also not given the option to open different account types on it
Read – How to reset Cash App Pin or change it?
After going through this article, it is crystal clear that investing in Cash App Stocks is a good idea if you are a beginner in this field. On the flip side, advanced-level investors may not enjoy investing through this platform as much as on other platforms. But, it is always a good idea to try something new. Since this platform allows you to trade without having to pay any fee you can definitely give it a try.