Venmo cryptocurrency: you can now sell, buy and pay with bitcoin

Venmo, which by PayPal (PYPL), said she can buy more than 70 million customers bitcoin, ethereum, litecoin and bitcoin cash for as little as $ 1.

Cryptocurrency can often feel confusing and inaccessible to beginners, so Venmo will offer in-app guides and videos to help answer common questions and share information about the world of crypto.

The payment company hopes that this new initiative will root out some of the common questions and misconceptions consumers may have, “said Darrell Esch, senior vice president and general manager at Venmo, in a statement.

According to the payment company, more than 30% of Venmo customers have already started buying cryptocurrency or shares. And 20% of customers started doing so during the pandemic.

Crypto-enthusiasm soared last week when the trading platform Coinbase appeared at a valuation of $ 86 billion, followed by a wild 500% march in Dogecoin – an asset created in 2013 as a joke. and other digital currencies could revolutionize the world of finance. This has not happened yet, but the announcement of Venmo is another example of how crypto is getting closer and closer to the adoption of the mainstream.
Venmo joins a list of other companies that have recently begun to recognize or accept cryptocurrencies. Tesla has started accepting bitcoin payments for its cars and now keeps a portion of the digital currency on its balance sheet. Payment processors including Mastercard (MA), en Visa (V) try to streamline crypto payments on their networks. Goldman Sachs will reportedly soon offer its private wealth management clients to invest in bitcoin and other digital currencies. And Morgan Stanley has announced that it will offer its wealthy customers access to bitcoin funds.

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