Venmo Set To Allow Users To Buy & Sell Cryptocurrencies

Ryazan, Russia - July 24, 2018: Homepage of Venmo website on the display of PC. Url - Venmo.com .

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Venmo is joining the cryptocurrency revolution.

The mobile payment app is joining parent company Paypal in allowing users to buy and sell cryptocurrencies through its app.

Like PayPal, Venmo will allow users to exchange bitcoin, ether, litecoin, and bitcoin cash with the minimum spending requirement of $1, according to a company release.

“No matter where you are in your cryptocurrency journey, crypto on Venmo will help our community to learn and explore cryptocurrencies on a trusted platform and directly in the app they know and love,” said Darrell Esch, a senior vice president and general manager of Venmo, in a statement via CNBC.

“Our goal is to provide our customers with an easy-to-use platform that simplifies the process of buying and selling cryptocurrencies and demystifies some of the common questions and misconceptions that consumers may have.”

Venmo said its crypto feature was developed in partnership with blockchain infrastructure firm Paxos.

Now, the question everyone has to ask is: will crypto actually become mainstream or will the hype around the currencies eventually come crashing down?

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