Venmo - Digital Payment now Focus on Crypto

in LeoFinance23 days ago


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Industry Leader in Digital Transactions

Venmo made news today as it announced the company will now allow buy, sell, and hold crypto on its platform. With over 70 million customers and one of USA primary digital platform for users to exchange fiat currency as payment this is a big leap. A digital payment platform Venmo is essentially one step closer to having crypto be directly used as a form of currency that can be exchanged digitally. Not to say this has not been done but Venmo being publicly well known it will benefit and provide confidence to users that cryptocurrency can be a reliable form of asset.

What Venmo is Offering?

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As of today users of Venmo can buy as little as $1 of four major cryptocurrencies. BTC, ETH, BCH, and LTC. Since Venmo has a vast amount of users it also allows a form of messaging between its users with an internal IM platform. This allows users who purchased cryptocurrency to announce they have done so to spread knowledge and awareness of crypto.

Venmo also created video tutorials to teach users what is cryptocurrency and how it is used in today's economy. Direct link to Venmo's Cryptocurreny page

Also please be aware if you plan to use Venmo to trade crypto there are fees:

Venmo says its fees on crypto transactions generally range from 1.5 percent to 2.3 percent; fees are 1.5 percent on purchases or sales above $1,000; 1.8 percent on transactions between $200.01 and $1,000; 2.0 percent on transactions between $100.01 and $200; and 2.3 percent on transactions between $25 and $100.

Conclusions

Venmo is a digital mobile payment application own by Paypal. Digital payments have become front and center for a lot of users. With E-commerce growing so is digital payments. Venmo's open integration of crypto trading is one step closer to having crypto as a form of currency that can be used to purchase goods and services. With less government intervention it may likely only be a matter of time before Venmo and other digital payment platforms adopt cryptocurrency as a form of currency to be use to buy goods and services.

Source Article


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I wonder if they give customers access to true crypto, or if they're basically giving you crypto markers that can only be sent within the Venmo ecosystem. I know Paypal only gives customers access to Bitcoin's volatility and not to Bitcoin itself. I wonder if it's the same thing with Venmo.

Can you send crypto from Venmo to any crypto wallet or only to other Venmo users?