April 25, 2024

Venmo payment service adds cryptocurrency support for 70 million customers

The PayPal-owned service allows customers to buy, store and sell within its mobile app.Bitcoin, Ethereum, Litecoin and Bitcoin Cash. The minimum transaction amount is $ 1.

PayPal-owned mobile payment serviceVenmo announced the addition of the ability to buy, sell and store cryptocurrencies. Its 70 million customers gained access to four digital coins - Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. The minimum transaction amount is $ 1, the transaction can be made using funds on the balance in the application or through a bank card.

From March 30th, PayPal customers can usecryptocurrency for payment. Users who hold bitcoins, Ethereum, Bitcoin Cash and Litecoin on their wallets have the opportunity to convert them into fiat currencies at the time of purchase. In the coming months, the service will be available at all 29 million merchants that work with PayPal.

PayPal opened access to cryptocurrencies to American customers in November 2020. Since then, they can buy, hold and sell cryptocurrency directly through the service.