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PayPal-Owned Venmo Adds Bitcoin Buying and Selling
Customers will be able to buy and sell crypto on Venmo for a fee starting from $1.
Updated Sep 14, 2021, 12:42 p.m. Published Apr 20, 2021, 11:27 a.m.
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PayPal has expanded crypto trading to its Venmo payments app in a fresh indication of the payment giant's cryptocurrency ambitions.
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- Customers of the payments app will be able to buy, sell and trade as little as $1 worth of crypto on Venmo, which has more than 70 million customers.
- As on PayPal itself, trading is limited to bitcoin, ethereum, litecoin and bitcoin cash.
- Rollout commences today and will be available for all customers within the next few weeks, the announcement Tuesday said.
- This is being offered in partnership with Paxos, which was tapped by PayPal as a liquidity provider.
- PayPal opened trading on select cryptocurrencies to U.S. customers in November and began allowing users to pay with crypto in March.
See also: PayPal Pushes Crypto Further Mainstream With Planned Checkout Service for 29M Merchants
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