Dhiraj Nallapaneni is a Crypto Tax Writer at CoinLedger. As an Economics degree holder from the University of California Santa Barbara, he’s well versed in topics like cryptocurrency markets and taxation.
Reviewed by:
David Kemmerer
Reviewed by:
David Kemmerer
Co-Founder & CEO
David Kemmerer is the Co-Founder and CEO of CoinLedger. David has been deeply involved with the cryptocurrency industry since 2017.
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Our content is designed to educate the 500,000+ crypto investors who use the CoinLedger platform. Though our articles are for informational purposes only, they are written in accordance with the latest guidelines from tax agencies around the world and reviewed by certified tax professionals before publication. Learn More
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Frequently asked questions
Can I send Bitcoin on Cash App without buying it on the platform?
Yes, if you already own Bitcoin elsewhere, you can transfer it to your Cash App account, then send it to other wallets.
What if I send Bitcoin to the wrong address?
Bitcoin transactions are irreversible — which means if you send it to the wrong address, it’s typically unrecoverable. Always double-check the recipient's wallet address before you confirm a transaction.
Are Bitcoin transactions on Cash App taxable?
Yes, Bitcoin transactions may be subject to capital gains tax. If you sell or send Bitcoin at a higher value than when you acquired it, you’ll incur a capital gain.
How do I send BTC on Cash App to another wallet?
Sending Bitcoin to another wallet from Cash App is easy — go to the ‘Bitcoin’ tile, click ‘Send’, enter the wallet address of the recipient, and confirm the transaction!
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Written by:
Dhiraj Nallapaneni
Crypto Tax Writer
Dhiraj Nallapaneni is a Crypto Tax Writer at CoinLedger. As an Economics degree holder from the University of California Santa Barbara, he’s well versed in topics like cryptocurrency markets and taxation.
CoinLedger has strict sourcing guidelines for our content. Our content is based on direct interviews with tax experts, guidance from tax agencies, and articles from reputable news outlets.
KNOWLEDGE BASE
Demystify Crypto Taxes
The Ultimate Crypto Tax Guide (2025)
This guide breaks down everything you need to know about cryptocurrency taxes, from the high level tax implications to the actual crypto tax forms you need to fill out.