PayPal's proprietary payments app, Venmo, now allows its more than 70 million users to buy, sell and store cryptocurrencies. Several months after its parent company implemented cryptocurrency purchases, Venmo did the same for its base. about 70 million users. Following in PayPal's footsteps, the company added support for four digital currencies Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). , the New York-based mobile payment service is the latest big name to add cryptocurrency services to its customers. The statement states that customers can also see current crypto trends, in addition to accessing in-app guides and videos to inform about cryptocurrencies. When completing transactions, users can share their milestones with friends through the Venmo feed.
Want to earn Bitcoins?
We help you with that.
Open a free account!
The update came after the company did a survey with its customer about its views on digital assets. The results were quite conclusive, as almost half had already started investing in these assets through other platforms.
“’ Crypto on Venmo ’is a new way for the Venmo community to begin exploring the world of cryptos, within the Venmo environment that they trust and count as a key component of their daily financial lives.” commented Darrel Esch, VP of Venmo.
Crypto on Venmo arose from a partnership with the regulated supplier of digital assets products Paxos Trust Company.As reported by Cointimes, PayPal is making great strides in this new market and has already allowed any platform user to make purchases with cryptocurrencies at any store. that accepts PayPal, and even CEO Daniel Schulman has already tested the service. Schulman also projected a monthly volume of up to US $ 200 million in a few months, indicating that demand is very strong in this sector.See also: TIME magazine now accepts Bitcoin and other cryptocurrencies as payment