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Venmo Adds Crypto: How It Works, Fees, Limits, and Safety Tips

Venmo Adds Crypto: How It Works, Fees, Limits, and Safety Tips

A quick, practical guide to using Venmo’s crypto option—and how to avoid the common mistakes new buyers make.

Venmo crypto announcement on a smartphone
Tap “Crypto” in the Venmo app to view coins, pricing, and your transactions.
Key takeaways
  • Easy on-ramp: Venmo lets eligible users buy/sell select coins directly in-app.
  • Know the costs: Trades include a spread and/or fee—always check before confirming.
  • Security first: Enable app passcode/biometric and understand transfer options before purchasing.

What Changed

Venmo (a PayPal service) introduced an in-app crypto feature so eligible users can buy, sell, and hold supported coins without leaving the app. It’s designed as a simple on-ramp with clear pricing screens and transaction history integrated into your Venmo feed.

How to Buy/Sell in Venmo

  1. Open the Venmo app and tap Crypto on the home screen.
  2. Select a coin and tap Buy or Sell.
  3. Enter the amount (fiat or crypto) and review the price and fee.
  4. Confirm the order. You’ll see the position in your crypto tab and history.

Tip: If you plan to transfer coins, verify supported networks and transfer availability in-app before buying.

Fees, Limits & Timing

TopicWhat to checkWhy it matters
Trading fees Spread and/or explicit fee shown on the confirmation screen. Affects your effective entry/exit price.
Minimums Minimum buy/sell amounts per coin. Small orders can be fee-inefficient.
Transfer support Whether you can move coins on-chain; applicable networks and fees. Critical for self-custody or moving to an exchange.
Settlement Processing times and holds on newly purchased assets. Impacts when you can sell or transfer.

Security & Transfers

  • App security: Enable passcode/biometrics; lock your phone and Venmo app.
  • Self-custody? If you intend to hold long-term, compare on-chain transfers and hardware wallets.
  • Beware scams: Only interact via the Venmo app; ignore DMs offering “guaranteed returns.”

Taxes & Records

Crypto trades can be taxable events. Keep your order history, receipts, and export any available statements at year-end. Classification varies by country; consult a professional for your situation.

Market Reaction (X)

FAQs

What coins can I buy?

Supported assets may change. Check the in-app crypto list for the current selection.

Can I send crypto to friends in Venmo?

Review Venmo’s crypto transfer options in-app. Some flows are off-chain (within Venmo) while others use blockchain networks with fees.

Is Venmo safe for long-term holding?

Convenient for small buys and learning. For larger, long-term holdings, many users compare self-custody hardware wallets.

Related Articles

© Earning Money Online — Educational content only. Features, fees, and availability vary by region and can change; always review Venmo’s latest disclosures before trading.

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