Cash App vs Electrum Comparison
| Company |
|
|
| User rating |
User rating
4.3 / 5
6 user review
|
User rating
3.6 / 5
11 user review
|
| Cryptogeek rating |
Cryptogeek rating
4.4 / 5
|
Cryptogeek rating
3.8 / 5
|
| Trust Score
How it works
|
Trust Score
3.6 / 5
|
Trust Score
4.01 / 5
|
About
|
The Cash App is a peer-to-peer money transfer service developed by Square Inc. that allows users to send and receive money. This service can help you send utility bills, pay for purchases, share the cost of the trip, or any other money sending task that you want to perform with other Cash App users. The Cash App also functions similarly to a bank account, providing users with a debit card called the “Cash Card”, which allows them to make purchases using the funds in their Cash App account. The app also allows users to invest their money in stocks, as well as buy and sell bitcoins.
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Electrum wallet is a software interface for operations with Bitcoin cryptocurrency. There are client versions for bitcoin forks: Litcoin, Bitcoin Cash, Dash, and Vertcoin. The main feature of the wallet is speed, low resource use, and simplicity. It starts instantly, as it works in conjunction with high-performance servers that handle the most complex tasks of the Bitcoin system. The blockchain is stored and updated on the company’s server, and the client interacts with it through special software for stationary and mobile devices.
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Founding Date
Country
Languages
Wallet type
|
Software wallet
|
Software wallet
|
Storage type
Private keys
Available coins
Security
Anonymity
Ease of use
Has attached card
Has trading facilities
Has vouchers and offers
Features
| About |
The Cash App is a peer-to-peer money transfer service developed by Square Inc. that allows users to send and receive money. This service can help you send utility bills, pay for purchases, share the cost of the trip, or any other money sending task that you want to perform with other Cash App users. The Cash App also functions similarly to a bank account, providing users with a debit card called the “Cash Card”, which allows them to make purchases using the funds in their Cash App account. The app also allows users to invest their money in stocks, as well as buy and sell bitcoins.
|
Electrum wallet is a software interface for operations with Bitcoin cryptocurrency. There are client versions for bitcoin forks: Litcoin, Bitcoin Cash, Dash, and Vertcoin. The main feature of the wallet is speed, low resource use, and simplicity. It starts instantly, as it works in conjunction with high-performance servers that handle the most complex tasks of the Bitcoin system. The blockchain is stored and updated on the company’s server, and the client interacts with it through special software for stationary and mobile devices.
|
| Founding Date |
Founding Date
2013
|
Founding Date
2011
|
| Country |
Country
USA
|
Country
International
|
| Languages |
Languages
English
|
Languages
English
|
| Wallet type |
Wallet type
Software wallet
|
Wallet type
Software wallet
|
| Storage type |
Storage type
Hot wallet
|
Storage type
Cold wallet
|
| Private keys |
Private keys
Not available
|
Private keys
Available
|
| Available coins |
Available coins
0
|
Available coins
1
- Bitcoin (BTC)
|
| Security |
Security
No data
|
Security
No data
|
| Anonymity |
Anonymity
No data
|
Anonymity
No data
|
| Ease of use |
Ease of use
No data
|
Ease of use
No data
|
| Has attached card |
Has attached card
No data
|
Has attached card
No data
|
| Has trading facilities |
Has trading facilities
No data
|
Has trading facilities
No data
|
| Has vouchers and offers |
Has vouchers and offers
No data
|
Has vouchers and offers
No data
|
| Features |
Features
No data
|
Features
No data
|
Social
Website
Twitter
Advantages
|
- Users can import their phonebook and send money to their friends using a phone number or email.
- Customers can buy and sell Bitcoin directly from your Cash App balance.
- Cash App protects its customers with security features including PIN entry, face and fingerprint identification, encryption, and offline storage of bitcoins.
|
- Fast start. It’s very quick to start working with the wallet; synchronization with the blockchain is not required.
- Decentralization. The wallet is fully decentralized.
- Security. Electrum cares about the security of its users and provides an additional means of protecting your account from hacking.
- Control over private keys. Their import or export.
- Cold storage. Electrum stores all your funds in cold storage, so no one from the network can steal your money.
- Wallet recovery using seed-phrase from which private keys are generated.
- Transparency, which is provided by the publication of open-source code.
- Manually set commission size.
- Bulk translations.
- Multilingualism. There are translations in different languages in the wallet.
|
Disadvantages
|
- Limited transparency when it comes to other transactions using the application.
- You have to pay a 1.5% commission in order to instantly receive money.
- You cannot make payments internationally.
- You must verify your account to increase sending and receiving limits.
|
- Only 5 cryptocurrencies supported
- No obvious customer support
|
Rating
| User rating |
User rating
4.3 / 5
6 user review
|
User rating
3.6 / 5
11 user review
|
| Cryptogeek rating |
Cryptogeek rating
4.4 / 5
|
Cryptogeek rating
3.8 / 5
|
| Advantages |
Advantages
- Users can import their phonebook and send money to their friends using a phone number or email.
- Customers can buy and sell Bitcoin directly from your Cash App balance.
- Cash App protects its customers with security features including PIN entry, face and fingerprint identification, encryption, and offline storage of bitcoins.
|
Advantages
- Fast start. It’s very quick to start working with the wallet; synchronization with the blockchain is not required.
- Decentralization. The wallet is fully decentralized.
- Security. Electrum cares about the security of its users and provides an additional means of protecting your account from hacking.
- Control over private keys. Their import or export.
- Cold storage. Electrum stores all your funds in cold storage, so no one from the network can steal your money.
- Wallet recovery using seed-phrase from which private keys are generated.
- Transparency, which is provided by the publication of open-source code.
- Manually set commission size.
- Bulk translations.
- Multilingualism. There are translations in different languages in the wallet.
|
| Disadvantages |
Disadvantages
- Limited transparency when it comes to other transactions using the application.
- You have to pay a 1.5% commission in order to instantly receive money.
- You cannot make payments internationally.
- You must verify your account to increase sending and receiving limits.
|
Disadvantages
- Only 5 cryptocurrencies supported
- No obvious customer support
|
Cash App user rating is 4.3, based on 6 user reviews. Electrum user rating is 3.6, based on 11 user reviews.
We also calculate the special Cryptogeek TrustScore based on the characteristics of each wallet.
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Cash App vs Electrum - Which Wallet Is Better in 2024?
This Cash App vs Electrum comparison is based on the most recent data on both companies. We do our best to provide you with unbiased information about cryptocurrency companies.
Based on user reviews only, Cash App is rated 4.3 with 6 user reviews, while Electrum is rated 3.6 with 11 user reviews.
Let's finally move to overall Trust Score:
