May 13, 2021

PayPal adds buying and selling cryptocurrencies to Venmo

PayPal adds buying and selling cryptocurrencies to Venmo

PayPal's Venmo mobile payment service has added the ability to buy and sell cryptocurrencies. About it the company said in a statement.

Bitcoin, Ethereum, Litecoin and Bitcoin Cash will be available to 77 million Venmo users over the next weeks, according to the announcement. The minimum purchase amount is $ 1.

"Users will be able to trade cryptocurrency using funds from their Venmo balance, linked bank account or debit card.", - said in a press release.

The partner was Paxos. In July 2020, it became known that the payment giant had selected her for asset management.

In addition to integrating the functionality of working withWith cryptocurrencies, Venmo will also have an educational material that will talk about the various features of the Bitcoin network and other digital assets.

It is worth noting that Venmo encourages itsusers to disseminate information about their own actions. That is, very soon, Venmo users will see messages like: "Alice sent Bob $ 50 in bitcoin." This is already free advertising of cryptocurrencies, and among 77 million people.

Venmo is a mobile application thatallows people to transfer funds. It is convenient to make small payments with it, for example, divide the bill for dinner, get paid for work, send a gift, and more. Venmo has 77 million users. Since 2013, it has been owned by PayPal.

  • As a reminder, in November 2020, PayPal launched the purchase and sale of bitcoin for US users.
  • In early March 2021, the firm confirmed plans to acquire cryptocurrency storage infrastructure provider Curv.
  • In the same month, sources told Reuters that PayPal would allow US customers to pay for purchases with Bitcoin, Bitcoin Cash, Ethereum and Litecoin at partner stores.

Where is it more profitable to buy bitcoin? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposit and withdrawal of funds in rubles, hryvnias, dollars and euros.

Site reliability is primarily determined bytrading volume and number of users. By all key metrics, Binance is the largest cryptocurrency exchange in the world. Binance is also the most popular cryptocurrency exchange in Russia and the CIS, since it has the largest turnover of funds and supports transfers in rubles from bank cards Visa / MasterCard and payment systems QIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

# Exchange: Website: Rating:
1 Binance (Editor's Choice) 9.7
2 Bybit 7.5
3 OKEx 7.1
4 Exmo 6.9
5 Huobi 6.5

The criteria by which the rating is set in our rating of crypto-exchanges:

  • Work reliability - stability of access to all platform functions, including uninterrupted trading, deposit and withdrawal of funds, as well as the period of work on the market and the daily trading volume.
  • Commissions - the size of the commission for trading operations within the site and the withdrawal of assets.
  • Feedback and support - we analyze user reviews and the quality of technical support.
  • Convenience of the interface - we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
  • Platform features - availability of additional features - futures, options, staking, etc.
  • final grade - the average number of points for all indicators, determines the place in the rating.

PayPal adds buying and selling cryptocurrencies to Venmo


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