Tldr; yes i paid $6.50 cash at a 711 for 9.2 H8VE ($4.15) but could have avoided fees which ill explain
So i will be seeing if i can use the paper money deposit feature of to buy btc, withdraw the Bitcoin to
( or hive-engine.com with no kyc if you prefer to stay anon) and get hive in my hive wallet
So first i go to 711 (or wallgreens or riteaid etc) by following google map inside the cashapp under "deposit paper money" and you get a map of locations that work with cashapp (make sure they know its only a $5 min as walgreens may argue with you and mistake cashapp for another card reload min of 20 but they Can do 5 bucks but 711 wont argue lol)
It costs $1 as a fee to deposit cash so i brought an extra dollar so i started with $6 really .. $6.50 as i scrounged some change as well to cover the fee ro buy btc in cashapp lol im cheating but whatever
Ok now i paid the cashier at 711 to deposot cash to my cashapp and he just scans my barcode fron my phone
Now i go select Bitcoin and buy btc in cashapp
Now i go get my blocktrades deposot addtess on blocktrades.us by setting up a trade for btc to hive
Now i get that btc deposit address and use it in cashapp
Now this is an important tip ...its best to wait to have 0.001 BTC or aprox $23 before withdrawing from cashapp as you save money on withdraws with a free withdraw option. It may take 24 hours like it says but its usually been very fast between 6 and 30 mins actually in my experience so i always go for the free option when i can wait to save up 24 bucks in cashapp in btc or 0.001 btc
Now as you can see theres an option for free withdraw i explained already
Honestly i just want to prove i can convert 5 dollars in bitcoin on cashapp to hive with blocktrades so ill pay the $1.08 rushed or priority withdraw delivery fee on cashapp
Ok now i just wait and check my blocktrades pending transactions
And there it is...blocktrades sees the incoming bitcoin transaction and says ill be getting 9.233 Hive
i was planning on recieving 11 hive but after the withdraw fee i see it will be more like 9 but thats fine
Here it is on cashapp and links from cashapp to the btc block explorer
Wow it has some cool illustrations of how cashapp saves money batching withdraws together
https://mempool.space/tx/4a8bf465c0cb141e6a70f6436673e1d92467936a27c5bbacfe63c803c846bf58
So ill be getting 9.23 hive after depositing $6.50 in cash at a 711 and paying $1 cash deposit fee and $0.16 in cashapp fee ro buy btc from usd
And i guess a little more for the blocktrades fee of course ... so i spent i guess $3 in fees and am getting 9.2 HIVE after paying $6.50 in cash
Next time i can save by doing a larger deposit (up to $500 a day!) In cash for just $1 and pay a $0 withdraw fee and probably a smaller blocktrades fee or use hive engine and attempt a better price to sell swap.BTC after a 0.75% deposit fee which could be covered by selling om HE for a higher price ...so if you have time you can probably actually make a profit in swap.hive by selling bitcoin on hive engine at a price a little higher than spot and covering the fees from depositing to hive engine and 2% purchase fee on cashapp
Anyway i think its pretty neat that i can take 6 bucks in change and dollar bills and convert it into hive within minutes without any bank account just a card
Alright ehile writing this blocktrades as confirmed it as a completed transaction!
And there it is in my hive wallet!
Ok so there it is...i proved that you can take cash and deposit at least 5 dollars at a 711 using a cashapp card and buy btc and withdraw to buy hive with blocktrades all on a smartphone while walking around typing! (or hive-engine better on desktop)
So i turned $6.50 cash into $4.15 worth of hive (9.23 HIVE) but i could have avoided 1 dollar in fees by waiting to have $26 to withdraw btc free on cashapp ... so really its gonna be a flat $1 fee for any amount up to $500 and 2% on any amount you buy and a small fee for blocktrades and so its like a little over 2% you should expect to pay to convert CASH to HIVE which i think beats any exchange especially when its fast and theres no bullshit and you can do tiny amounts!
Oh and by the way, here is my https://cash.app referal link. Try it using my code and we’ll each get $5. And you get a free cashapp viaa debit card that lets you buy bitcoin for just 2% so $20 in btc only costs you like 40 cents. My code: GKMTVHX or just use the link
https://cash.app/app/GKMTVHX