- Venmo will roll out a new crypto transfer feature in May, allowing customers to send crypto to other Venmo accounts.
- Customers can also buy tokens and send them to PayPal, external wallets and exchanges.
- Users can also receive cryptocurrencies from others using their unique wallet address QR code.
Mobile payment app Venmo has announced that starting May 2023, customers will be able to use their accounts to buy cryptocurrencies and transfer them to family and friends on Venmo.
Venmo, whose parent company is PayPal, made this clear on Friday when it outlined the new features.
Make it easy for customers to move cryptocurrencies
according to press release The new features Venmo unveiled on April 28 are part of the company’s effort to make it easier for customers to manage and move their cryptocurrencies.
Stop by to announce our new feature: Crypto Transfer ⚡ Get started now. https://t.co/R9QtUENfae pic.twitter.com/UoeEAWVhlz
— Venmo (@Venmo) April 28, 2023
In addition to sending cryptocurrency to other Venmo users, customers can also send cryptocurrency to PayPal accounts, external wallets, and exchanges within the digital asset ecosystem. Venmo customers can access their unique digital asset address QR code by going to the reception page. Customers can share this QR code with other users when receiving funds.
According to details shared in the news release, the cryptocurrency transfer feature will be available to Venmo users from May 2023.
Venmo introduced cryptocurrency purchases for customers in April 2021 and is a popular mobile app for those looking to buy bitcoin. The platform added support for crypto price alerts in November 2021, enabling push notifications for Bitcoin, Ethereum, Bitcoin Cash and Litecoin price alerts.