Can You Send Crypto on Venmo: A Guide to Digital Payments

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Venmo has become a household name in the world of digital payments, offering users a seamless way to send and receive money with just a few taps. As cryptocurrencies gain mainstream traction, many users are asking: Can you send crypto on Venmo? The short answer is yes—but with important limitations. While Venmo doesn’t allow direct peer-to-peer crypto transfers like traditional cash, it does offer integrated crypto features that let users buy, sell, hold, and even transfer select digital assets.

This guide dives into how Venmo handles cryptocurrency, which coins are supported, how to buy and transfer them, and what fees you might encounter along the way.

How Venmo Supports Cryptocurrency

Although Venmo is not a full-fledged crypto wallet, it has incorporated key crypto functionalities under its platform. Through its parent company PayPal, Venmo allows users to engage with digital currencies in a simplified, user-friendly environment. You can currently buy, sell, hold, and transfer five major cryptocurrencies:

PYUSD is PayPal’s own dollar-backed stablecoin, designed to maintain a 1:1 value with the U.S. dollar. Unlike other cryptocurrencies on the platform, trading PYUSD incurs no fees, making it an attractive option for stable digital transactions.

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Buying Cryptocurrency on Venmo

To begin purchasing crypto on Venmo, you must meet a few basic requirements:

Once verified, you can buy as little as $1 worth of any supported cryptocurrency. Funding options include:

Venmo displays the total cost—including fees—before you confirm any transaction. This transparency helps users make informed decisions without surprise charges.

Understanding Venmo’s Crypto Fees

While buying and selling PYUSD is free, most other cryptocurrencies come with fees. These are not flat rates but are instead based on the spread—the difference between the market price and Venmo’s exchange rate. This spread typically sits around 0.5%, though it may vary depending on market volatility and transaction size.

Here’s how the fee structure generally works:

Transferring crypto within the Venmo or PayPal network—such as sending Bitcoin to another Venmo user—is completely free. However, if you choose to send crypto to an external wallet outside of PayPal’s ecosystem, network fees apply. These reflect actual blockchain transaction costs and fluctuate based on network congestion.

Transferring Crypto: What You Need to Know

One of the most common questions users have is: Can I send my crypto from Venmo to another wallet? The answer is yes—but with caveats.

You can transfer supported cryptocurrencies from your Venmo account to:

When sending to external wallets, ensure the receiving address is correct—transactions are irreversible once confirmed. Also, keep in mind that withdrawing crypto to an external wallet may trigger taxable events depending on your jurisdiction.

Venmo updates cryptocurrency prices every few seconds, so the value displayed when you tap “Buy” or “Sell” is locked in at that moment. This real-time pricing helps prevent slippage and ensures clarity in each transaction.

Key Benefits of Using Crypto on Venmo

Despite its limitations compared to dedicated crypto exchanges, Venmo offers several advantages for casual investors and everyday users:

These features make Venmo a solid entry point for those new to cryptocurrency who want a safe, regulated environment.

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Frequently Asked Questions (FAQ)

Q: Can I send Bitcoin from Venmo to someone else’s crypto wallet?
A: Yes, you can send Bitcoin and other supported cryptocurrencies from Venmo to external wallets, but network fees will apply. Always double-check the recipient address before confirming.

Q: Is there a limit on how much crypto I can buy on Venmo?
A: Yes. The weekly purchase limit is $20,000, with a maximum of $50,000 within any 12-month period.

Q: Are there fees for selling cryptocurrency on Venmo?
A: Fees apply when selling most cryptocurrencies based on the spread (typically ~0.5%). However, there are no fees for buying or selling PayPal USD (PYUSD).

Q: Can I use Venmo crypto in other apps or services?
A: Only after transferring it to an external wallet. While held in Venmo, crypto cannot be used directly for third-party payments or DeFi applications.

Q: Why can’t users in Hawaii buy crypto on Venmo?
A: Due to state-specific financial regulations, crypto trading is currently unavailable to residents of Hawaii.

Q: How quickly does a crypto transfer take on Venmo?
A: Transfers between Venmo or PayPal accounts are nearly instant. External wallet withdrawals may take several minutes to hours, depending on blockchain network conditions.

Final Thoughts: Is Venmo Good for Crypto?

Venmo isn’t designed to replace dedicated crypto wallets or exchanges, but it serves as a convenient gateway for beginners and casual users. Its integration of Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and PYUSD allows users to explore digital assets without leaving their favorite payment app.

For those looking to go beyond basic buying and holding—such as trading across chains, earning yield, or using decentralized apps—moving funds to a more advanced platform may be necessary.

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Whether you're testing the waters with $1 of Bitcoin or using PYUSD for fee-free digital transfers, Venmo makes crypto accessible—and that’s a big step forward in mainstream adoption.

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