I’m a firm believer that information is the key to financial freedom. On the Stilt Blog, I write about the complex topics — like finance, immigration, and technology — to help immigrants make the most of their lives in the U.S. Our content and brand have been featured in Forbes, TechCrunch, VentureBeat, and more.
See all posts Frank GogolHow to Make Money on Cash App
Updated on April 10, 2024
Written by
Written by
Reviewed by
Rohit Mittal
Reviewed by
Rohit Mittal
Rohit Mittal is the co-founder and CEO of Stilt. Rohit has extensive experience in credit risk analytics and data science. He spent years building credit risk and fraud models for top U.S. banks. In his current role, he defines the overall business strategy, leads debt and capital fundraising efforts, leads product development, and leads other customer-related aspects for the company. Stilt is backed by Y Combinator and has raised a total of $275M in debt and equity funding to date.
See all posts Rohit MittalAt a Glance
- Cash App offers various ways to earn money, including a $5 sign-up bonus and referral rewards.
- Users can save on fees, use Cash Card Boosts, invest in stocks or Bitcoin, and participate in social media events.
- Ensure compliance with tax regulations, as Cash App may report certain transactions to the IRS.
How to Make Money on Cash App: 15 Ways
With the advancement of technology, managing finances has become seamless. Cash App stands out as a leading financial tool, boasting over 30 million monthly active users. Curious about earning on Cash App? Here are some free methods to boost your balance:
15 Ways to Easily Make Money on Cash App
There’s more than one way to get free money on Cash App, and if you want to make as much as possible, it’s best to take advantage of multiple methods simultaneously. Below, you will find 11 great ways you can start making money on this app!
Registration and Referrals
From the moment you sign up to when you invite others, these simple steps can give you an immediate financial boost.
1. Sign Up to Earn $5
Did you know that something as simple as registering on Cash App can bring you money? Yes, it’s true – signing up will bring you $5 for free.
However, you need to make sure you obtain a free money code for Cash App to have access to this sum. Within the first 14 days, you need to fulfill a transaction of at least $5, though.
2. Refer New Users
Easily earn $5 on Cash App by referring friends or family. Simply click “Invite Friends”, send an invite through your contact list, email, or phone number, and guide them to join. The more people you invite, the more you earn.
Transactions and Requests
Make the most of your network by requesting or approving monetary transactions to enhance your Cash App balance.
3. Request Money from Other Users
Obviously, requesting money from other users will let you get some cash for free. You can borrow certain amounts from family or friends or be paid for a side job you’re doing at the moment. If people you request money from are willing to fulfill your request, you’ll gain certain sums of money. The good thing about this is that no fees will be charged when you receive money.
4. Approve Payments from Other Users
If someone is sending you money, you can approve the payment. This is something you have to take care of when an individual is sending you cash for the first time. As you can imagine, this will add to your balance on the app.
Card and Boosts
Leverage the Cash App card and its associated boosts to earn discounts and even free cryptocurrency.
5. Earn with Cash Card Boosts
You may have heard about the Cash App Visa debit card offered by the company. It can be obtained for free, and what many don’t know is that it can lead to free earnings. After you get the card, you can activate spending boosts, which provide discounts for certain merchants.
6. Earn with Bitcoin Boosts
Another way to make some nice money is by using the Bitcoin Boost option of the Cash App. It lets you get free Bitcoin, which you can then either keep until the value increases or sell for money. Bitcoin Boost can help you get started with crypto investments while allowing you to make free cash. How much you receive depends on your purchases, though.
Investments
Explore the world of stocks and cryptocurrencies right from your app, catering to both beginners and seasoned investors.
7. Invest with Cash App
With Cash App, you can dive into the world of investments, starting with fractional stock shares for as low as $1, all without any commission fees. The platform offers a comprehensive experience by allowing you to track stock prices in real time and manage a list of your favorite companies for easier monitoring. While the potential for profit exists, it’s crucial to approach investments with caution, as the market can be unpredictable and losses are possible.
8. Buy and Sell Bitcoins
Cash App supports Bitcoin transactions, allowing members to buy, sell, and transfer freely. Though sending and receiving Bitcoin is free, buying and selling come with transparent fees. Bitcoin, boasting 250,000 daily transactions, is a recognized crypto investment. Cash App even offers fee-free Bitcoin payment options for direct deposits. Remember, while promising, crypto investments carry inherent risks.
Social Media Engagements
Engage with the vast online community through contests and events, turning your social presence into potential earnings.
9. Participate in Sweepstakes and Giveaways
From time to time, Cash App organizes special events on social media, such as sweepstakes, competitions, and giveaways. These events present opportunities for users to benefit. Moreover, for individuals who have established a notable presence on social media with a decent following, integrating your $cashtag into your posts can be a strategic move. This not only promotes your engagement with the platform but also has the potential to generate additional revenue as your audience interacts with your shared content.
Fee Waivers and Savings
Cut down on unnecessary fees and make the most out of the app’s features to save money each month.
10. Take Advantage of ATM Fee Waivers
With Cash App, standard ATM withdrawals typically come with a $2.50 fee. Yet, there’s a perk: if your account receives direct deposits totaling $300 or more, you’re granted unlimited fee-free withdrawals from in-network ATMs. Additionally, you can enjoy one fee-free withdrawal from out-of-network ATMs every 31 days. So, if you’re withdrawing weekly, you could potentially save up to $10 monthly.
Merchant Promotions
Dive into a world of discounts and exclusive offers. Partner merchants on Cash App frequently provide promotions to incentivize users. By staying updated with these offers, you can save significantly on your purchases and transactions.
11. Avail of Merchant Discounts and Offers
Some merchants offer special discounts or cashback for transactions made using Cash App. It’s wise to stay updated with the latest promotions and deals within the app or through Cash App-partnered stores.
Cash Backs
Every penny saved is a penny earned. With Cash App’s cash back features, every eligible transaction can give you a percentage of your expenditure back into your wallet. It’s a smart way to shop and save simultaneously.
12. Get Cash Back on Purchases
When using the Cash App card for purchases, some offers or deals might give you cashback. This is essentially free money returned to your account based on a percentage of your spending.
Educational Initiatives
Education meets finance. Cash App recognizes the importance of financial literacy and offers resources to help users understand money management, investments, and more. Engage with these materials and become more financially savvy while potentially finding more ways to earn.
13. Engage with Cash App’s Educational Resources
On occasions, Cash App or its partners might incentivize users to learn about financial literacy or cryptocurrency by offering small amounts of money or crypto for completing educational modules or watching videos.
Secured Loans
Bridging financial gaps when you need it most. Explore Cash App’s feature of providing short-term secured
14. Explore Cash App’s Loan Features
Cash App, keeping up with fintech trends, might introduce features where users can take out small secured
Selling
Turn your entrepreneurial spirit into cash. If you have goods or services to offer, use Cash App as a secure payment gateway. It simplifies the transaction process, ensuring you get paid swiftly and safely.
15. Use Cash App as a Payment Gateway for Selling Goods/Services
If you have a product or service, you can use Cash App as a method to collect payments. This might appeal to a demographic that prefers digital transactions over traditional payment methods.
Read More
- How to Get a Cash App Refund
- How to Withdraw Money from Cash App
- How to Close a Cash App Account
- How to Add a Credit Card to Cash App
- Activate Cash App Card – A Step-by-Step Guide
- Where Can I Load My Cash App Card?
Final Thoughts
Cash App not only makes transactions easier but also allows you to make some free cash. Consider the tips above so you can start making money.
How to Make Money with Cash App FAQ
Here are the answers to some questions you may still have about making money with Cash App.
What Is Cash App?
Cash App is a financial platform that allows its users to easily send, receive, save or invest money. It’s not a bank, but a P2P payment app.
How Does Cash App Work?
Cash App works by letting people send and receive money while giving them the chance to make investments. All you need to do is open an account for free, and you can start making transactions.
How do I start making money with Cash App?
Cash App offers various ways for users to earn money. Some methods include signing up to earn bonuses, referring new users, participating in Cash App-hosted events, or utilizing features like Cash Card Boosts and Bitcoin Boosts. Additionally, you can start investing with Cash App or use it for buying and selling Bitcoin. Always ensure you familiarize yourself with the app’s terms and conditions to optimize your earning potential.
Do Cash App games pay real money?
As of my last training data in January 2022, Cash App primarily functions as a peer-to-peer payment system and an investment platform. If you come across any games or third-party apps claiming to pay real money through Cash App, be cautious and do thorough research to ensure they are legitimate and safe to use.
Is Cash App a good way to start investing?
Cash App provides users with the ability to invest in stocks and Bitcoin. It offers features like fractional stock shares, allowing users to invest with as little as $1. It’s a user-friendly platform suitable for beginners. However, as with all investments, there are risks involved. It’s essential to educate yourself about investments, understand the risks, and start with what you’re willing to lose.
Does Cash App report to IRS?
Yes, Cash App is required by law to report certain types of transactions to the IRS. For instance, if you receive over $600 from non-employment-related sources in a year, Cash App might send you a 1099-B form for tax purposes. Always consult with a tax professional regarding any earnings or transactions made through Cash App to ensure compliance with tax regulations.
Is Cash App Safe?
Fortunately, Cash App is a secure platform. It has fraud detection technology and high-quality encryption, which ensures your funds and personal information are never in danger.
Frank Gogol
I’m a firm believer that information is the key to financial freedom. On the Stilt Blog, I write about the complex topics — like finance, immigration, and technology — to help immigrants make the most of their lives in the U.S. Our content and brand have been featured in Forbes, TechCrunch, VentureBeat, and more.