How to Buy Crypto on Venmo: Bitcoin, Ethereum, Litecoin, and Bitcoin Cash Integration

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Introduction

Venmo, the popular social payments app, has expanded its services to include cryptocurrency trading. Users in the U.S. can now buy, hold, and sell Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) directly within the app—with as little as $1. This integration simplifies crypto investing for beginners but comes with specific limitations.

Key Features of Venmo’s Crypto Service

  1. Supported Cryptocurrencies:

    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Litecoin (LTC)
    • Bitcoin Cash (BCH)

  2. Limitations:

    • Tokens cannot be transferred to external wallets.
    • No inbound transfers from other crypto services.
    • No peer-to-peer crypto transfers between Venmo accounts.

  3. Funding Options:

    • Venmo balance
    • Linked bank account
    • Debit card (credit cards not supported).

  4. Trading Caps:

    • Weekly limit: $20,000
    • Annual limit: $50,000

How to Buy Crypto on Venmo

Follow these steps to purchase cryptocurrency:

  1. Open the Venmo app and tap the ☰ menu button.
  2. Select "Explore" next to Crypto or "Manage" next to Crypto Balance.
  3. Choose your preferred cryptocurrency (BTC, ETH, LTC, or BCH).
  4. Enter the dollar amount and review the purchase details, including fees.
  5. Confirm by tapping "Buy".

👉 Learn more about crypto trading

How to Sell Crypto on Venmo

To sell your holdings:

  1. Navigate to the ☰ menu and tap "Manage" next to your crypto balance.
  2. Select the cryptocurrency you wish to sell.
  3. View historical price data, then tap "Sell".
  4. Enter the amount and confirm.

Proceeds will be deposited into your Venmo account for further use or withdrawal.

FAQs

1. Can I transfer crypto out of Venmo?

No. Venmo currently restricts withdrawals to external wallets.

2. Are there fees for holding crypto?

No. Venmo charges zero fees for storing digital assets.

3. Can I use crypto to pay for goods on Venmo?

Not yet. Crypto holdings are limited to trading within the app.

4. Is Venmo’s crypto service available worldwide?

Only U.S.-based users can access this feature.

👉 Explore advanced crypto strategies

Final Notes

Venmo’s crypto integration offers a user-friendly entry point for beginners but lacks flexibility for advanced traders. Always research market risks before investing.

Disclaimer: This content is for informational purposes only and not financial advice.


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