Americans are now moving from cash to digital transactions.
Although many americans still use debit cards, credit cards for daily transactions, they are slowly moving towards online transactions using apps.
And when it comes to doing an online transaction, CashApp and Venmo are the 2 apps that comes to everyone’s mind.
Ever since their complete US rollout, they have set a new standard to the way online banking is done.
Even though, these two apps are competing with PayPal for top 3 place in the digital payments space, have you ever wondered which one is best?
Or should which one is better for you?
Well, let’s find out –
Table Of Contents
- 1 What’s Cash App? How Does It Work?
- 2 What’s Venmo?
- 3 CashApp vs Venmo: Which One has Lower Transacation Fees?
- 4 CashApp vs Venmo: Which One Provides Better User Experience?
- 5 CashApp vs Venmo App: Which One Maintains Better Online Privacy?
- 6 CashApp vs Venmo: Supported Platforms
- 7 CashApp vs Venmo: Which one App Has Better Features?
- 8 CashApp vs Venmo: Is there any Credit Facility Available?
- 9 CashApp vs Venmo: Who Wins?
- 10 Conclusion
What’s Cash App? How Does It Work?
Cash App is a peer-to-peer payment app owned by Square. It allows you to make and receive payments using Bitcoin, a digital currency for the internet age. The app is available for both Android and iOS devices.
It’s free, easy to use and works like this:
- You sign up for an account with your name, email address and phone number (or use your existing one).
- You can transfer funds from any bank account or debit card into your Cash App balance—it doesn’t matter if it’s a credit card or not; even Venmo doesn’t let you use credit cards! (But don’t worry about fees because there aren’t any.)
- To send money from one person’s account to another person’s account through Cash App, just enter their user name into the ‘To’ field of their profile page (or type in their phone number). Then enter how much money they owe in the ‘Amount’ field before hitting “Pay.”
Venmo is a mobile payment app that allows people to send money to each other using a mobile device.
The Venmo app was launched in 2009, and it is now one of the most popular peer-to-peer payment apps in the world. In fact, it’s so popular that many young people today consider it as their preferred method for making payments!
CashApp vs Venmo: Which One has Lower Transacation Fees?
Venmo’s transaction fees are less predictable. It charges a flat $0.25 per transaction, which is the same amount as CashApp’s flat fee.
However, when you send money from Venmo through their website or mobile app, there’s an additional $0.30 fee added on top of that for each person you send money to.
In other words, if you’re paying someone using Venmo and they don’t have their account linked with a debit card, then it’ll cost $0.55 per transfer instead of $0.35 like it would if your friend had no venmo account linked with their debit card.
CashApp vs Venmo: Which One Provides Better User Experience?
CashApp is definitely more user friendly than Venmo, but there are many things to consider before making your choice. For example, the user interface of CashApp is easier to use than that of Venmo.
The main reason for this is that it doesn’t require users to sign up to start using their app. On the other hand, with Venmo you have to sign up first before commencing any transactions with them so it takes longer for users who want to make payments or send money through this platform.
In addition to these factors above, there are other things that might influence your decision when choosing between CashApp vs Venmo apps such as privacy protection features and ease of use (which I will discuss next).
CashApp vs Venmo App: Which One Maintains Better Online Privacy?
I feel really sad when majority of smartphone users ignore privacy or doesn’t take it seriously.
But look at the multiple instances when chats, intimate photos, videos of prominent figures gets leaked online.
This is probaly one of the reasons why I always prefer using Surfeasy VPN on my smartphone and personal computer.
Although, it wouldn’t work well with either of the two apps mentioned in the post, it’s worth using for adding addional layer of securtity.
Nonetheless, coming back to the topic, one thing I would like to say – PRIVACY MATTERS!
CashApp is more private than Venmo because it doesn’t require your bank account information. This means that it doesn’t allow anyone to link accounts together and see your transactions like they can with Venmo.
You can also use CashApp without creating an account, but this does mean that you need to enter your debit card number every time you want to send money or withdraw funds from your wallet balance into your bank account (upfront).
Venmo requires users to link their bank accounts in order to transfer funds between accounts and withdraw money from their wallet balance into their bank account (upfront).
CashApp vs Venmo: Supported Platforms
CashApp and venmo, both apps are availble to download from the Google Play Store and iOS app store. However, once you look at their ratings, you start understanding which one is better app for online transaction.
Based on the thousands of reviews available online on the respective app stores, Cashapp turns out to be the clear winner as it has better star ratings and more reviews.
CashApp vs Venmo: Which one App Has Better Features?
The CashApp and Venmo apps are great for peer-to-peer (P2P) transactions, but they each have their own sets of features that make them better than the other.
For example, CashApp has a built-in cryptocurrency wallet that makes it easier to send and receive Bitcoin from your contacts on the app. Its Bitcoin integration also allows you to buy or sell BTC directly in the app’s interface.
Meanwhile, Venmo has an advantage over CashApp because it allows users to transfer funds between accounts easily without having to withdraw or deposit money into a bank account first — something not possible with most cryptocurrency exchanges like Coinbase or Binance.
This means that if someone wants to send money directly into another person’s account without having access to his/her bank account information (for example, when splitting dinner bills with friends), they would need access only through one platform: Venmo.
CashApp vs Venmo: Is there any Credit Facility Available?
CashApp doesn’t offer a credit facility.
Venmo has a credit facility of up to $2,000 and charges you interest on any amount that you borrow.
Besides, if you need easy short term loans, these sites like cashnetUSA are always there for you.
CashApp vs Venmo: Who Wins?
In the end, either of these apps is a great option for sending money to friends, family and business partners. They both also have excellent security features that can help you feel comfortable using them. So which one should you choose?
- As mentioned above, Venmo works best for small transactions. If you’re just looking to pay back a friend for dinner or rent money for this month’s bills, Venmo will likely be the best choice for you because it has lower fees and higher limits than CashApp does.
- On the other hand, if your needs are more about large payments or purchasing things online with Bitcoin (like buying groceries on Amazon), then CashApp is probably better suited to your needs since it has much higher limits and lower fees than Venmo does.
On the other hand, CashApp has better fees but lacks some of the advanced features found on Venmo. Therefore, I recommend choosing a platform based on your needs and preferences as recommended right before writing this conclusion.