# Cashero App Review: The Ultimate Guide for 2022
Are you tired of the hassle of handling cash or paper checks? Do you want to simplify your financial transactions and make them more convenient? Look no further than the Cashero app!
In this comprehensive guide, we will provide an in-depth review of the Cashero app, highlighting its features, benefits, and potential drawbacks. We will also dive into the topic of Cash App taxes and provide answers to some frequently asked questions.
## What is Cashero App?
Cashero is a mobile payment app that allows users to easily send, receive, and manage money. The app is free to download and use, and it is available on both iOS and Android devices.
Cashero is a product of Square, Inc., a financial services company that was founded in 2009. Square is known for its innovative payment solutions, and the Cashero app is no exception.
## Cashero App Features
Here are some of the key features of the Cashero app:
– Instant transfers: Users can transfer money to friends, family, or businesses instantly.
– Cash Card: The Cash Card is a debit card that is linked to the user’s Cashero account. It can be used to make purchases online or in-store.
– Direct deposit: Users can have their paychecks deposited directly into their Cashero account.
– Bitcoin trading: Cashero allows users to buy and sell Bitcoin.
– Investing: The app also offers a feature that allows users to invest in stocks and ETFs.
– Cash Boost: Cash Boost is a rewards program that gives users discounts at participating merchants.
## Pros of Using Cashero App
Here are some of the benefits of using the Cashero app:
– Easy to use: The app is user-friendly and straightforward, making it easy for anyone to send and receive money.
– Instant transfers: With Cashero, you can send and receive money instantly, making it a convenient option for those who need to move money quickly.
– Cash Card: The Cash Card is a great feature for those who prefer to use a debit card for their purchases.
– Direct deposit: Having your paycheck deposited directly into your Cashero account can save you time and hassle.
– Bitcoin trading: Cashero’s Bitcoin trading feature is a unique offering that allows users to buy and sell Bitcoin without leaving the app.
– Investing: The app’s investing feature is a good option for those who want to start investing but don’t know where to begin.
– Cash Boost: The rewards program is a nice perk that can save users money on their purchases.
## Cons of Using Cashero App
Here are some potential drawbacks of using the Cashero app:
– Fees: While the app is free to use, there are fees for certain transactions, such as instant transfers and ATM withdrawals.
– Security concerns: As with any financial app, there is a risk of fraud or hacking. It’s important to take steps to protect your account and personal information.
– Limited customer support: Some users have reported difficulty reaching customer support when they have an issue.
## Cash App Taxes Review 2022
One important thing to keep in mind when using the Cashero app is taxes. Here’s what you need to know:
– Cash App will provide you with a 1099-B form if you have sold Bitcoin or made more than 200 transactions totaling over $20,000 in a calendar year.
– You are responsible for reporting all income earned through Cashero on your tax return.
– If you have any questions about how to report your Cashero income on your tax return, it’s best to consult with a tax professional.
Q: Is Cashero safe to use?
A: Cashero takes security very seriously and uses encryption and other measures to protect users’ personal and financial information. However, it’s important to take steps to protect your account, such as using a strong password and enabling two-factor authentication.
Q: Are there fees for using Cashero?
A: While the app is free to use, there are fees for certain transactions, such as instant transfers and ATM withdrawals. Be sure to review the fee schedule before using the app.
Q: Can I use Cashero to pay my bills?
A: Yes, Cashero allows users to pay bills directly from the app.
Q: Can I use Cashero to receive my stimulus payment?
A: Yes, you can have your stimulus payment deposited directly into your Cashero account.
In conclusion, the Cashero app is a convenient and user-friendly option for those looking to simplify their financial transactions. While there are fees associated with certain transactions, the app’s features, such as instant transfers and the Cash Card, make it a worthwhile option. However, it’s important to keep in mind the potential security concerns and to report all income earned through the app on your tax return. Be sure to consult with a tax professional if you have any questions.