Venmo's new crypto service further shows Paypal's commitment to the crypto space, the company detailed.
Venmo Launches Crypto Service
Venmo, a service by Paypal, announced Tuesday the launch of "crypto on Venmo," which it described as "a new way for Venmo's more than 70 million customers to buy, hold and sell cryptocurrency directly within the Venmo app." The rollout begins today. The announcement continues:
Customers using crypto on Venmo can choose from four types of cryptocurrency: bitcoin, ethereum, litecoin and bitcoin cash. When they make transactions, customers can also choose to share their crypto journey with their friends through the Venmo feed.
Users can start investing in cryptocurrencies with just $1 using the Venmo app. Customers can use funds from their Venmo balance or link a bank account or a debit card for the purchase.