The popular mobile payment service Venmo has added the ability to purchase crypto through its app. As of right now, Venmo users can buy Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC). To purchase any of these cryptocurrencies you will first need a Venmo account and fill in some additional details such as full name and address. After you all set up your crypto account, you can purchase any of the digital currencies by following these few simple steps:
- Tap the settings (3 lines upper right hand corner)
- Tap Cypto
- Tap the type of Crypto you want to buy
- Tap Buy button
- Enter the dollar amount of how much you want to buy
- Tap Review and review the exchange rate, transaction fee and more
- Tap Buy Bitcoin
You can learn more about the the different types of crypto on the Crypto section of you Venmo app. Each individual currency is explained, plus Blockchain, and current exchange rates. You can also watch videos, access a crypto glossary and view the crypto on Venmo FAQ.
To sell or buy more tap the currency you own and tap the Buy or Sell button. You'll need to confirm your tax information the first time you sell.