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1 sat \ 4 replies \ @siggy47 3 Nov 2022 \ on: CashApp Sold $1.76B Worth of Bitcoin During Q3 2022: Down 3% Year Over Year bitcoin
I don't know if this played a role in the totals, but Cash App has the highest fees to buy, and if you don't spring for priority pricing, waiting around to move your bitcoin off the app takes forever.
Have you tried lately? I think it’s better now and lightning was just implemented. Basically instant settlement. Also even if you choose no fee (24hrs) it’s usually just as fast as the other two options. Just FYI.
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Thanks for the input. Even with my complaining, I still dca with it every day! The one thing I always will appreciate about cash app is that when volatility is peaking and all other exchanges are down, I can always smash buy a big dip on cash app. It is reliable.
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I think cashapp is the closest implementation of an on ramp for the masses. Of course I am aware of the KYC/AML requirements of services like cashapp but just for usability, scaling, and mass adoption I think it’s top shelf. My hope is that a more privacy focused iteration comes along or one of the bitcoiner’s great builds become ubiquitous but until that happens most will use the existing on ramps like cashapp/Venmo/PayPal/exchanges.
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CA fees depend on the order size. You can see this in app by trying to buy different amounts. I just tried $1, $100 and $1000. Fees were ~ 3%, 2.3% and 1.7% respectively. 2% must have been the average.
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