Paypal’s Venmo Launches Crypto Trading for 70 Million Users

Must Read

- Advertisement -

Paypal’s 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.”

Paypal's Venmo Launches Crypto Trading for 70 Million Users Brandspurng
Photo by Tech Daily

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.

Darrell Esch, senior vice president and general manager at Venmo, commented: “Our goal is to provide our customers with an easy-to-use platform that simplifies the process of buying and selling cryptocurrencies and demystifies some of the common questions and misconceptions that consumers may have.”

Venmo is licensed to engage in virtual currency business activity by the New York State Department of Financial Services, its website explains, noting that buying, selling, and holding cryptocurrency with Venmo is not available in Hawaii and where prohibited by law. “Crypto on Venmo is enabled through Paypal’s partnership with Paxos Trust Company, a regulated provider of cryptocurrency products and services,” the announcement notes.

Read Also:  Paradise Game opens the largest video game, elearning and edtech center in West Africa
- Advertisement -

More than 30% of Venmo customers have already started purchasing cryptocurrencies or equities, 20% of which started during the pandemic, the 2020 Venmo Customer Behavior Study reveals.

What do you think about Venmo launching this crypto service?

Let us know in the comments section below.

- Advertisement -
spot_imgspot_img

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Read Also:  Bitcoin Touches $18K, Crypto Asset Looks to Smash All-Time High, ETH Price Could Spike 20x

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

FDA Seeks Public Comments On PMI Application To Market IQOS 3 As Modified Risk Tobacco Product-Brand Spur Nigeria

FDA Seeks Public Comments On PMI Application To Market IQOS 3...

The U.S. Food and Drug Administration (FDA) today opened a public comment period on Philip Morris International’s (PMI--NYSE: PM) application seeking authorization to market the IQOS 3 electrically heated tobacco system...
- Advertisement -
spot_imgspot_img

Latest News

FDA Seeks Public Comments On PMI Application To Market IQOS 3 As Modified Risk Tobacco Product

The U.S. Food and Drug Administration (FDA) today opened a public comment period on Philip Morris International’s (PMI--NYSE: PM) application seeking authorization to...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -spot_imgspot_img