7 Reasons Why I Recommend You Use Cash App Instead of Venmo, PayPal, or Zelle

Since Cash App is a very good way to buy Bitcoin, I wanted to recommend it to you for its other abilities as well, and tell you why I think you should use it instead of Venmo, PayPal, or Zelle. Cash App. At its heart, is a mobile payment services app like Venmo or PayPal. Sometimes these are called fintech apps. If you don’t use one of these apps already, this means that its an app you can download to your smartphone, set up an account on the app, connect a bank account, and then you can send money to just about anyone for just about anything. You can send your friend money for that lunch you had together or for an Uber ride you took together. It’s also great for paying for services from people you know like the coach who does private lessons with your kid for soccer or baseball or for your piano teacher. Really, you can send money to anyone for any reason as long as they have a US bank account and can set up an account. So here’s my opinion why you should use Cash App instead of other mobile payment services or fintech apps and especially instead of Venmo, PayPal, or Zelle.

You can buy real Bitcoin and Send it to yourself or others at a Bitcoin address off the Cash App network
You can buy stocks, bonds, and most importantly index funds with Cash App
In my opinion, its the most secure mobile payment app that I have used
They respect your right to freedom of speech and to have and express your own opinion (whether they may think you are right or wrong)
They respect your privacy
They are a sound fiduciary (that means they can be trusted with your money)
Your teenagers can use the app to send payments and to invest!

I’ll dig into these reasons a little bit more in this post, but right now, I highly recommend you download and start using Cash App and invite your friends to do so as well. If you use my link below to set up a Cash App account, you’ll get $5 free once you set up your account.

https://cash.app/app/9LWD4R2

I invite everyone I know to use Cash App. I do this in a non-pushy way. If I’m going to make a payment, I ask the person I’m sending a payment to if they use Cash App. If they don’t I will tell them they should check it out for the future as it’s safer and better than other apps. I usually will share with them one or two of the seven reasons from this post to explain why (I try not to mansplain too much 😁). Also, if I hear anyone talking about Venmo, PayPal, or Zelle, (I usually just do this with people I already know. I’m not big on turning around and interrupting people who I don’t know in their conversations at restaurants, parks, other public places, etc., but you can do it however and whenever you feel is appropriate) I will ask them if they’ve heard of or have used Cash App and tell them one or two reasons why its better to use than those other apps.

Now, a little more about those seven reasons. First, with Cash App you can buy Bitcoin and send it to addresses and people who aren’t on Cash App. Other apps let you buy Bitcoin but you can’t send it off of the app. In my opinion, this isn’t really Bitcoin. I don’t feel like I have any way of telling that they actually converted my money into Bitcoin if I can’t send it to someone outside of the app.

Second, with Cash App you can buy stocks, bonds, mutual funds, and index funds. I’m a huge fan of index funds. And knowing that I can use Cash App to buy these investments is pretty sweet. It’s even better since my teenagers can use it to do the same. I’ll talk about this more in reason number seven.

Third, I feel Cash App is more secure than the other apps, especially Zelle. Just do an internet search on Zelle for hacks or security breaches and you’ll know exactly what I mean.

Fourth, Cash App respects your right to freedom of speech. PayPal, the parent company of Venmo by the way, announced several years ago that they were going to start fining people up to $2500 for spreading misinformation. This is a huge problem. Each of us has the right to our own opinion or our own take on things. Sometimes we are going to be wrong (whether we know it or not) and its not the right of anyone, especially a bank or money service we use to decide if our opinions are right or wrong. What is the standard they are using? Could it possibly be misinformed as well? I could go on all day on this topic, but in short, I can’t in good faith use an app that for payments that thinks they have the right to monitor and punish me for my use of my right to free speech.

Fifth, Cash App respects your right to privacy. In order to fine you $2500 for spreading misinformation, they have to monitor you first. What you say on social media or elsewhere is your own business. Again, a bank or mobile payment service should not be focusing time, people, and money on monitoring you. They should be respecting your privacy and spending their resources on making sure your money is safe.

Sixth, Cash App is a sound fiduciary. A fiduciary is someone or something that acts in good faith in regard to your interests. As far as a bank or mobile payment service is concerned they should be able to be trusted to act in good faith, without any conflict of interest, in keeping your money safe. If a mobile payment app is monitoring you and looking for opportunities to fine you, who’s best interest are they acting in?? Not yours!

Seventh, (and this reason is probably my favorite) Cash App can be used by your teenager(s) to start managing their money and investing. As soon as they are 13, any teenager with the permission of a parent or guardian, can start using Cash App. They can use it as a bank account if they don’t already have one and deposit cash into it at many different stores and businesses without any fees or charges. They can get a debit card to use it for payments anywhere. Grandparents and parents can send money to their Cash App account. And, they can invest and buy Bitcoin, stocks, bonds, and index funds. There are very few options for kids to start investing and Cash App is an excellent one.

So, if you got this far, and you still haven’t set up a Cash App account, now’s your chance. Use my link below and you’ll get $5 for free that you can use to buy some Bitcoin!

https://cash.app/app/9LWD4R2

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