Cash app is the mobile app that allows users to send money, invest money, bank, and even do your taxes… all for FREE. It’s a fantastic app run by a tech company changing the way finance works. In this guide we will share how to earn money on Cash App to make it even better.

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How Does Cash App Work?

Cash App is simple to use despite the growing number of features includes.

At the most basic level Cash App is made to send and receive money without a traditional bank account.

You can do this money transfer without any fees which has made Cash App extremely popular. A service that charges no fees and does not require a bank account has opened up financial opportunities for previously unbanked populations.

Since it grew in popularity Cash App has also added additional offerings from buying Bitcoin to doing your taxes.

Ways People Use Cash App

There are multiple ways you can use Cash App:

  • Sending money
  • Receiving money
  • Spending money
  • Receiving cashback rewards
  • Direct depositing paychecks
  • Borrowing money (up to $200)
  • Buying Bitcoin
  • Selling Bitcoin
  • Sending Bitcoin
  • Investing in stocks
  • Doing your taxes
  • Making money

With the amount the company is growing there may even be more options in the near future.

How To Earn Money On Cash App

There are several ways to make money on Cash App. Let’s look at some of the opportunities available so you can earn money and get off to a great start.

Sign Up With A Referral Code

You can start off using Cash App with an extra $5 by signing up using a referral code. You just have to use referral code RSJQKLK and then send at least $5 (it can be sent to and then back from a friend).

free cash app sign up bonus on cash app

IMPORTANT! You have to send someone $5 to get the bonus! People have asked why the bonus fails and this is almost always why. Send it to a friend who sends it back if you need but you’ll need to do this to get the sign up bonus.

You can use my Cash App referral code RSJQKLK to earn money on Cash App when you sign up. It also gives me a little bit of money and helps support creating guides like this!

Refer Others To Cash App

Once you are using Cash App you can also refer friends to get a sign up bonus!

Here’s how to find your referral code in Cash App:

  1. Open Cash App on your phone
  2. Go to your account profile page by tapping the “Profile Icon” on the top right corner
  3. Click the green “Invite Friends, Get $10” button after your username (this amount may be $5, $10, $15 depending on the current Cash App referral bonus)
  4. Type the name of a friend or click the green “Get $10” next to their name to send a message
  5. Or click the Arrow icon in the top right corner to bring up additional options for sending our your referral link and referral code
  6. Cash app will create a message about the bonus along with your unique code and link to send to friends and family
  7. To get the referral bonus make sure people use the code not just the link and they complete the necessary steps of linking an account and sending out $5 to someone

You both will get a bonus within 14 days of your friend signing up with your code and sending $5.

Cash Back Spending Boosts

Your Cash App account comes with a debit card that you can use to spend money anywhere. Cash App also offers “boosts” that give you additional cash back when you spend at certain locations.

Here’s how to activate the boosts after you get your debit card:

  • Open Cash App on your phone
  • Click on the card icon on the bottom menu
  • Click “Add Boost” in the middle of the page
  • Scroll through the boosts to find the one you want
  • Tap on the boost to bring up additional details
  • Click black “Add Boost” button to activate

To earn more money with Cash App you just need to activate and then utilize your Cash App debit card at these locations. Some of these will provide cash back, others earn you Bitcoin, and others give you a discount.

You’ll get a bit of spending boost or a big discount which saves you money depending on the boost details.

Cash App Giveaways & Contests

Another way to earn money on Cash App doesn’t occur on the app but instead on social media.

Cash App does giveaways on their Twitter page often giving cash or Bitcoin to winners. Here’s an example of a previous giveaway they did on Twitter:

You don’t have to do anything to earn money with these giveaways. It’s completely random and you don’t have to send money or make purchases or download anything extra.

All you do for most of these is retweet the Cash App tweet with your Cashtag and then hope for the best.

Invest For Asset Appreciation

There are plenty of ways to make money with Cash App, but one way that many enjoy is investing.

You can invest on Cash App by buying stocks and ETFs. This allows you to earn money through asset appreciation. The stocks and ETFs you buy are assets and over time their value can go up earning you more money.

Here’s how it works when buying stocks:

  • If you buy a stock at $25 then in 12 months it is at $50, you’ve made $25!
  • If you buy a stock at $25 then in 12 months it is at $20, you’ve lost $5.
how to earn money on Cash App - buy stocks for asset appreciation

These monetary gains or losses are only locked in when you sell the stock or ETF. Until then you can ride the market and hope for even more appreciation of your assets.

Always remember with this method that buying stocks can be risky if you aren’t careful – there’s no guarantee your investment will go up in value. Over time the stock market has gone up in value but there is still risk involved. Just keep in mind that the stock market and individual stocks can go up AND down in value.

Invest In Bitcoin

You can also earn money by doing the same thing with Bitcoin.

This is an even riskier method than stocks because Bitcoin has been more volatile during the last couple years. However, the larger risk also offers a potential larger return to earn money.

You can purchase Bitcoin on Cash App directly. If you purchase it at a lower price and it goes up in value then you earn money when you sell at that higher value.

It’s just like any other asset appreciation. You will earn money on that appreciation in value.

Bitcoin is an asset class that I recommend learning about and researching in depth before jumping in. There is plenty of room to make money with Bitcoin on Cash App but you’ll be the most successful if you are well educated on the topic.

Want another way to earn money with Bitcoin? Check out the Coinbase referral code program or trading Bitcoin on Binance.

Cash App FAQ

Below are some of the questions I often get asked on videos and posts about Cash App.

What’s the Cash App referral code?

Cash App referral code RSJQLK will get you $5 for free when you download the app, enter this referral code, link your debit card and send $5.

Is Cash App safe to use?

Yes, it’s totally safe! Cash App uses encryption and fraud detection technology to make sure your money is safe and secure.

If you are sending and receiving money from people you trust it is totally safe to use.

Do you need a bank account for Cash App?

No you do not need a bank account to use Cash App. You just need a phone number and email address.

This makes Cash App different than other money transfer apps like Venmo, Zelle, etc.

Because you don’t need a bank account your money will go into Cash App which can act like your bank account. It even comes with a debit card!

What is a $Cashtag?

A $Cashtag is your unique username on Cash App. This username allows people to find you and send payments.

The $Cashtag is a public facing username and it’s how you enter contests, tell people to find you, and. receive money.

Are there Cash App scams?

With any financial platform you have to be vigilant of people outside the app trying to take advantage and scam you. While Cash App is safe, there are scammers everywhere trying to steal your data or trick you into getting into your account.

The sad reality is scams are prevalent on any app that involves money.

Here are some common Cash App scams to look out for:

  • Cash flipping scams
  • Clearance fee scams
  • Pet deposit scams
  • Home rental deposit scams
  • Payment claiming scams

Here are a few things to do to keep yourself safe from scams:

  • Only send money to people you know and trust
  • Double check information when you are sending money 
  • Check the profile to make sure you’re sending money to the right person
  • Never send money to someone promising to send money in the future 
  • Never send money to someone you don’t know

Will Cash App refund my money if I am scammed?

Scams do happen and Cash App is aware of this reality.

If fraudulent activity occurs, Cash App tries to cancel it. Preventing you getting scammed out of money is the first defense. They also investigate issues and refund money either instantly or within 1-3 days in some situations.

Unfortunately, it will depend on the circumstances of the situation. If you make a mistake in who you send money to it may not be recovered.

Are there any Cash App hacks to earn money fast?

Unfortunately there are not glitches or ways to cheat the system that you should use.

Sometimes people will promote a “glitch” or “hack” to earn money or scam others but these will often get your account banned and you should not use them.

Are there any Cash App referral code hacks at all?

This is not a hack necessarily but you can refer multiple people! You can invite everyone you know to join you on Cash App in order to get $5 per referral you sign up using your code.

You likely know many people who do not currently use Cash App and can make money referring them.

Why did I not receive the Cash App referral bonus money?

Unfortunately if you didn’t receive your referral credit, it’s likely that your phone number or email are associated with another Cash App account. This can cause problems since the referral is for a one time sign up.

Another issue is that YOU DID NOT SEND MONEY. To get the referral bonus you have to sign up with the referral code AND send someone $5. If you don’t send money you won’t receive a bonus. You can send to a friend who sends it back.

In the app you can go to Account settings and click the “Invite Friends” link. It shows you exactly what you need to do to make sure you get the bonus.

What is the Cash App promo code?

The Cash App promo code is the same thing as the Cash App referral code. This is a unique code everyone can share to get $5 when someone else signs up and you can use when you sign up to get $5.

You can use Cash App promo code “RSJQLK” when you sign up to get $5 as a free bonus!

Mary is the founder of Pennies Not Perfection where she teaches you how to make online income to build wealth and gain freedom. She quit her day job in 2021 after she replaced her salary.

Mary's favorite free financial tool is Personal Capital. She uses their free tools to track investments, grow her net worth and work toward to financial freedom.

Her favorite investment platform is M1 Finance, where she built a custom portfolio for free with no fees. She shares her portfolio growth and savings progress every month on YouTube.