By
Frank CorvaUpdated
Gemini Cryptocurrency Exchange
Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.
Venmo is a social payment app that lets you send money to individuals and businesses. You can use the app to pay your bills or to split a check with friends as well as to buy, sell, transfer and learn about bitcoin (BTC) and other crypto assets.
With as little as $1, you can purchase some bitcoin (BTC), ether (ETH), litecoin (LTC) or bitcoin cash (BCH) with the app.
If you are just getting started with Bitcoin or crypto more broadly, there are numerous articles and videos that you can use to learn about the asset class. Once you’ve made a purchase, you can also use Venmo to track the price of the crypto in your portfolio.
Venmo is owned by PayPal, and cryptocurrency transactions on Venmo are facilitated by PayPal’s partnership with Paxos Trust Company, a regulated provider of cryptocurrency products and services.
Follow these steps to buy crypto with Venmo:
Pros
Cons
| Method of transfer | Transfer fees | Transfer times |
|---|---|---|
Standard electronic withdrawal | $0 | 1–3 business days |
Instant transfer electronic withdrawal | 1.5% (minimum $0.25 fee, maximum $15 fee) | 5+ minutes |
| Method of deposit | Fees |
|---|---|
Transfer from bank account | $0.00 |
Receive money in your personal Venmo account from Venmo users | $0.00 |
Receive merchant refund | $0.00 |
Receive money using direct deposit | $0.00 |
Adding money using the “cash a check” feature (payroll and government checks) | 1.00% (minimum $5 fee) |
Adding money using the “cash a check” feature (all other accepted checks) | 5.00% (minimum $5 fee) |
Receive payments in your business profile or that identified as for goods and services | 1.9% + $0.10 |
| Crypto purchase/sale amount | Fees |
|---|---|
$1.00–$4.99 | $0.49 |
$5.00–$24.99 | $0.99 |
$25.00–$74.99 | $1.99 |
$75.00–$200.00 | $2.49 |
$200.01–$100 | 1.80% |
>$1000 | 1.50% |
Yes, Venmo is safe to use. Venmo uses data encryption to protect your personal and financial information. With that said, you may want to opt out of not sharing your crypto purchases publicly via the app’s social feature, which broadcasts your transactions to your friends on the app.
If you click on the “Me” tab at the bottom of the app screen and then click on the settings icon in the top right-hand corner of the screen, you’ll be taken to the app’s settings options. If you click on the “Privacy” tab and then click the “Private” option, you can stop your crypto purchases and sales from being broadcast to friends.
Are you visiting from outside the US?
Yes, you can purchase Bitcoin (BTC) as well as Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) on Venmo.
Venmo only supports four cryptocurrencies:
Venmo doesn’t support altcoins like Cardano (ADA), Ripple (XRP), Polygon (MATIC), Tron (TRON), Dogecoin (DOGE), Shiba Inu (SHIB) or Polkadot (DOT).
It also doesn’t offer advanced investing and trading features like automated recurring buys or limit orders.
All US residents, except residents of Hawaii, are allowed to buy, hold and sell the above-mentioned cryptocurrencies. You are not allowed to send, receive or make purchases with crypto yet.
If you’d like to purchase a wider range of cryptocurrencies or simply get more options for trading and investing, consider a cryptocurrency platform.
Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.
Bybit Cryptocurrency Exchange
Kraken
KuCoin Cryptocurrency Exchange
Kraken Cryptocurrency Exchange
Binance Cryptocurrency Exchange (Not available to US users)
Binance Cryptocurrency Exchange (Not available to US users)
Bybit Cryptocurrency Exchange
Promoted
Promoted
Promoted
Promoted
Promoted
Promoted
Promoted
Promoted
Promoted
Promoted
Promoted
Promoted
Promoted
Promoted
Promoted
Promoted
Promoted
Promoted
Frank Corva is business-to-business (B2B) correspondent for Bitcoin Magazine and formerly the cryptocurrency writer and analyst for digital assets at Finder. Frank has turned his hobby of studying and writing about crypto into a career with a mission of educating the world about this burgeoning sector of finance. He worked in Ghana and Venezuela before earning a degree in applied linguistics at Teachers College, Columbia University. He also taught writing and entertainment business courses in Japan and worked with UNICEF in Namibia before returning to the US to teach at universities in New York City. Earlier in his career, he spent years working as a publicist and graphic designer for record labels like Warner Music Group and Triple Crown Records. During that time, he was also a music journalist whose writing and photography was in published in Alternative Press, Spin and other outlets. See full bio
The US government is already one of the biggest bitcoin holders in the world and could be about to buy more under the Trump administration.
Learn how to buy Bitcoin in Colombia and the top exchanges available in the country.
Learn how to buy bitcoin on eToro and how to manage your crypto after your purchase.
Learn how to buy Bitcoin exchanges in our step-by-step guide.
Here are 13 legitimate ways to earn free bitcoin. See which methods interest you, find out how to get started and grow your digital wallet.
Finding the right way to sell Bitcoin is just as important as finding the right option to buy it. In this guide, we break down the options available and the factors to consider.
Want to buy bitcoin or any other cryptocurrency with PayPal but don’t know how? Find all the information you need in this handy guide.
A round-up of the most common crypto scams and how to detect and avoid them.
Learn how to buy Bitcoin in the US with our simple step-by-step guide and tips on what to know before you get started.
Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
How likely would you be to recommend Finder to a friend or colleague?
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.