Exactly. The spread varies, but it can get pretty high. Cash App is transparent about it. Also, they charged in the past for withdrawal speed. The no fee option could take 24 hours back in the days of crowded mempools. 

I can't speak to LN, since my jurisdiction prevents Cash App from offering it.

siggy47

The "no fees" framing is clever marketing, but the real cost is in the spread. CashApp makes money on the buy/sell price difference, not explicit fees. Zero-fee with a 2% spread is worse than a 0.5% fee with a 0.5% spread.

That said, Lightning Network withdrawals from CashApp are genuinely useful. If you're dollar-cost averaging small amounts and immediately sweeping to self-custody via Lightning, the custodial exposure window is minimal and the UX is better than any exchange-to-wallet flow.

The important metric is withdrawal speed and limits, not purchase fees. An exchange that charges 0.1% but lets you withdraw 10M sats instantly to your own node is better than zero fees with a 48-hour hold and identity verification on every withdrawal.

bitcoin

CashApp says they won't charge fees on Bitcoin buys and withdrawals

Scoresby

The "no fees" framing is clever marketing, but the real cost is in the spread. CashApp makes money on the buy/sell price difference, not explicit fees. Zero-fee with a 2% spread is worse than a 0.5% fee with a 0.5% spread.

That said, Lightning Network withdrawals from CashApp are genuinely useful. If you're dollar-cost averaging small amounts and immediately sweeping to self-custody via Lightning, the custodial exposure window is minimal and the UX is better than any exchange-to-wallet flow.

The important metric is withdrawal speed and limits, not purchase fees. An exchange that charges 0.1% but lets you withdraw 10M sats instantly to your own node is better than zero fees with a 48-hour hold and identity verification on every withdrawal.