Miles Suter: Cash App offers the best Bitcoin prices and offers users higher withdrawal amounts
Cash App, the popular digital wallet and payment app, has announced significant increases in withdrawal limits, lower fees, new funding rails,An exclusive interview with Miles Suter, Product Lead at Block Inc., tells us more.
“Our mission is to make living with Bitcoin simple and practical,” Suter told Bitcoin Magazine. The company, which currently serves more than 58 million active users, recently announced a series of sweeping upgrades to its app. This improves Bitcoiners’ quality of life on the app and unlocks further features while further integrating Bitcoin into the user experience.
The most anticipated and notable update is probably the expansion of withdrawal limits, with eligible customers increasing their withdrawal limits from 2,000 to 10,000 per day and from 5,000 to 25,000 per week. This update has been rolled out to the majority of users by default and should be accessible now. Souter also said that anyone who is not satisfied with the increase in withdrawal limits can contact him and assist in further reviewing their eligibility.
However, more changes have been made under the hood. Fees and clearing prices have also been improved with “no spread” pricing, Suter said, one of many user experience updates that could lead the industry overall in terms of interface design.
A spread is the difference in the price of an asset, such as Bitcoin, depending on whether you buy or sell it. These are typically the result of an order book that matches buyers and sellers on a list sorted by exchange rate. On most exchanges, there is usually a small spread between the maximum amount that anyone is willing to pay for their Bitcoin and the minimum amount that everyone is willing to accept for their Bitcoin. However, it can also be confusing and the pricing may seem inconsistent. Many exchanges hide small fees in this spread in the pursuit of low-friction profits. Cash App appears to be eliminating this from the user experience and offering users a single price point on both sides of the market.
This price change and 0% fees could make Cash App the most cost-effective way to buy and sell Bitcoin in the United States. Suter went so far as to say that Cash App currently offers “the best prices in the world” on purchases of $2,000 or more.
Source: https://cash.app/bitcoin
Funding rails and stablecoins
This update also expanded the funding rails. Historically, Cash App was built to work with debit cards, a strategy that likely allowed for rapid adoption by retailers.However, there were various funding restrictions. Suter was happy to share that new funding rails have been added to Cash App, including ACH to unlock deposits of up to 10,000 and integrated wires for high-value purchases. So this is more than just a quality of life upgrade for Bitcoiners within Cash App, it’s a historic milestone for the company, which has been serving retailers and small and medium-sized sellers since 2013.
When asked about Cash App’s relationship with banks, an area of the Bitcoin industry where many companies and users are still struggling even under the friendly Trump administration, Souter said users have no problem sending or withdrawing money from Cash App to U.S. banks. Souter explained that while it’s an understandable business choice for banks as they are very conservative and very focused on preventing fraud, it highlights “the fragile nature of the current system where everything is allowed” and is a clear example of “why we think it’s so important to eliminate intermediaries in Bitcoin.”
Suter provided more nuance on the subject of funding rails and also expressed interest in integrating stablecoins, although no timeline was given for a release date for this particular feature. He was also very clear about how the stablecoin will be integrated into the app and that users will not be exposed to countless choices regarding blockchain or ticker name denominations. Instead, all values are displayed as dollars and all major stablecoin blockchains are supported behind the scenes. This means that fees paid in the blockchain’s native token will not be visible to users, eliminating a long-standing pain point that the entire industry has failed to address. Discussion of this stablecoin integration also included mention of the dollar on Bitcoin’s Lightning Network, but the details were not discussed.
Roadmap for 2026
Looking ahead to this year as we enter full speed ahead into 2026, Suter expressed a clear vision to further integrate Bitcoin into Cash App and make it available to a large user base in a seamless manner. “We want to make Bitcoin the underlying currency within Cash App, so you can live off Bitcoin.”
To achieve that, Cash App is laying the groundwork to not only accept Bitcoin, but to fully automate Bitcoin payments. This means that stores using Square payment terminals must be able to accept Bitcoin via Lightning payments using the same QR codes and payment flows as fiat currencies. Meanwhile, Cash App users should be able to scan a QR code to pay overage bills even if they don’t have Bitcoin in their account. That’s right, automatic conversion from USD to . $BTCand $BTC Convert to USD at checkout, so everyone can pay how they like and receive the currency of their choice. In Souter’s words, “We want all customers and users to be able to send and receive Bitcoin, even if they don’t know about Bitcoin or own it.”
This approach solves several friction points that have hindered Bitcoin payments use cases since its inception. On the one hand, if the user does not have Bitcoin at the time of the spend, there will be no tax event and the sender will not have a Bitcoin sales tax event as Cash App will do the conversion on the seller’s behalf. Souter didn’t go into details, but cited this particular issue as a key piece of the puzzle, saying, “Block will pay the excess bill for you. There are no tax obligations and no price changes.”
On the other hand, merchants who choose to accept Bitcoin as payment may receive Bitcoin more frequently, as virtually anyone who uses Cash App can pay with Bitcoin. For example, if a merchant decides to only accept Bitcoin as payment, all Cash App users will be able to buy from the merchant, even if they don’t have any Bitcoin in their account. Merchants may also offer discounts on Bitcoin purchases, and customers can benefit from using Cash App without holding Bitcoin.
The entire design has the potential to introduce Bitcoin to millions of Americans who aren’t familiar with it, and “there are moms out there who have never used Bitcoin,” Souter said. “We want every Cash App user to have a Lightning URL that matches their Cash App username.”
On the active Bitcoiner side of the market, Souter briefly commented on the growing market for Bitcoin-backed loans, noting that the company is actively “exploring” use cases and “engaging with customers online” and that “customers want it.” The company is considering various ways to offer Bitcoin-backed loans, possibly including a line of credit, but the details are not yet clear. Suter emphasized that this use case is an important financial tool for Bitcoiners to “live a life on Bitcoin” and is in line with the company’s vision. No further discussion was made on the topic, but Suter casually added that the Bitcoin Vegas announcement will take place in May.
This post was written by Miles Suter: Cash App offers the best Bitcoin prices and higher withdrawal amounts for users. Originally published in Bitcoin Magazine and written by Juan Galt.
