Can You Send Crypto on Venmo and What You Need to Know

Venmo is a popular peer-to-peer payment service that allows users to send and receive money digitally. However, it's not directly integrated with cryptocurrencies like Bitcoin or Ethereum.

Venmo's parent company, PayPal, has been exploring ways to support cryptocurrency transactions, but as of now, you can't send crypto directly on Venmo.

You can buy, sell, transfer, and hold four different cryptocurrencies on Venmo: Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.

Venmo also offers PayPal's stablecoin, PayPal USD (PYUSD), which has no fees for buying or selling.

To buy crypto on Venmo, you'll need a verified profile and to accept Venmo's cryptocurrency terms and conditions. You'll also need to submit identification documents to confirm your home address, name, date of birth, and Social Security number.

The maximum limit for crypto purchases is $20,000 per week and $50,000 in a 12-month period. You can purchase as little as $1.

You can use a debit card, linked bank account, or funds in your Venmo balance to buy crypto.

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Venmo displays the fee amount when you're making a transaction, and you can learn more about how these fees are calculated in Venmo's Cryptocurrency Terms and Conditions.

There are no fees to buy or sell PYUSD on Venmo, but you may incur a fee when buying or selling other cryptocurrencies.

You can transfer crypto to other Venmo and PayPal accounts without fees, but there are network fees for sending it outside of the Venmo and PayPal network.

Here are the cryptocurrencies supported by Venmo:

You'll incur a fee when buying or selling most cryptocurrencies on Venmo, which varies based on the purchase or sale amount. The fee is displayed when making a transaction.

The fee is calculated based on the margin between the market price and the exchange rate between the currency and the U.S. dollar, also known as the "spread." This spread is around 0.5% and depends on market conditions.

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Here's a breakdown of the transaction fees based on the purchase amount:

Transferring cryptocurrency to another Venmo account or a PayPal wallet is free of charge, as long as it's within the Venmo and PayPal network. However, transferring to a wallet outside this network will incur a fee, which varies.

Crypto on Venmo is a convenient feature that allows you to buy, sell, transfer, and hold several different cryptocurrencies.

You can buy, sell, transfer, and hold Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and PayPal's stablecoin, PYUSD, on Venmo.

To buy crypto on Venmo, you'll need a verified profile, and you can do so in all 49 US states except Hawaii. Business accounts are not eligible.

The maximum limit for crypto purchases is $20,000 per week and $50,000 in a 12-month period. You can purchase as little as $1.

There are fees for buying and selling most cryptocurrencies on Venmo, but there are no fees to buy or sell PYUSD.

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You can transfer crypto to other Venmo and PayPal accounts without fees, but there are network fees for sending it outside of the Venmo and PayPal network.

Venmo updates the market value of all four currencies every few seconds, so the value you see right when you tap "Buy" is the amount you'll receive.

Here's a quick rundown of the cryptocurrencies Venmo supports:

Transferring crypto to another Venmo account or a PayPal wallet is easy and fee-free within the PayPal network.