Venmo Enters the World of Cryptocurrency

Venmo users, get ready to live in a crypto world

There’s been nothing on people’s minds in the financial world the past few years quite like the rise and fall and rise again of cryptocurrency, particularly Bitcoin. If you felt like a lost soul in that world, you now have an opportunity to dive right into it, with the announcement of Venmo allowing trade in cryptocurrency.

The financial transaction app, an entity of PayPal, revealed on Tuesday that their users can now engage in trade of cryptocurrency. This rollout would extend to options like Bitcoin, Ethereum, Litecoin, and Bitcoin Cash (sorry, Dogecoin fans, no Shiba Inus this time).

On the app, customers can now choose the “Crypto” option to buy any of the available currency options for as low as $1, being able to purchase a fraction of a coin. They can monitor the fluctuations in the value of the currencies on the app itself, seeing how it directly affects the value of the amount they have. Further, you can buy, sell, or hold your crypto cash, and you even have the ability to show on your transaction feed that you now have some fancy crypto in your account.

For those who aren’t really that well-versed with the crypto world, Venmo has in-app guides, articles, and videos for you to follow along and learn more about it. For Venmo’s more than 70 million users, that should be pretty handy. The crypto world is going through an immense boom currently, soaring as trading platform Coinbase went public last week and Dogecoin experienced an immense surge in value.

You can read more about VMAN’s coverage of the crypto world, including Bitcoin, NFTs, BitClout, and the all-consuming Dogecoin

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