Venmo allows users the option to store, buy, and sell popular cryptocurrencies while PayPal announced on Tuesday. Now, Venmo going to support four different cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. All transactions are managed from the app. The Verge expects that “most customers” now have access to cryptocurrencies in the app by the end of May.
All cryptocurrency transactions will be governed directly from the Venmo app. Venmo’s encourage more people to invest in them with 40 million users. The app operates as a social network, users may find cryptocurrency more approachable while buying and selling in Venmo.
It is the latest payment app for cryptocurrency. PayPal allowed users to buy, hold, and sell cryptocurrency from the main PayPal app in November. It added the ability for users to buy cryptocurrency in late March. Therefore, Venmo and PayPal competitor Square launched support for Bitcoin in its Cash App in 2018.