Venmo is one of the most popular mobile payment apps in the US. Due to its convenience and ease of use, it is widely used for various transactions, including splitting bills, paying friends, and making purchases. But is Venmo crypto friendly, and can you buy crypto with Venmo?
As of 2025, there are several cryptocurrencies you can buy directly from Venmo’s interface, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Solana, ChainLink, and PayPal's stable coin PYUSD.
All you have to do to buy crypto with Venmo is:
- Log in to your Venmo account
- Navigate to the Crypto section
- Choose the cryptocurrency you want to buy
- Enter the amount you want to buy
- Choose the preferred payment method for the transaction
- Store your cryptocurrency in your crypto wallet
Alternatively, you can decide to keep your newly purchased crypto in your account, the app can act as your own Venmo crypto wallet, and allow you to make crypto transactions.
Disclaimer: Investing in cryptocurrencies carries significant risk. Values are highly volatile. Never invest more than you can afford to lose. This site does not provide financial advice. Act based on your own research and consult with a financial professional before making decisions. Don’t invest unless you’re prepared to lose all the money you invest.
Pros & Cons of Buying Crypto and Bitcoin on Venmo
While Venmo offers a convenient way to buy and hold crypto, it has both advantages and limitations to consider before investing.
Pros:
- Easy for Beginners – Venmo’s user-friendly interface makes buying Bitcoin and other crypto simple for newcomers.
- Instant Purchases – Link a debit card or bank account to buy crypto immediately without delays.
- Integrated with Venmo Payments – Seamlessly send/receive crypto alongside regular Venmo transactions.
- No Wallet Management Needed – Venmo handles custody, eliminating the complexity of private keys.
Cons:
- Not Your Keys, Not Your Crypto – Users don’t control private keys, limiting true ownership.
- Limited Coin Selection – Only supports a few cryptocurrencies (e.g., Bitcoin, Ethereum), restricting diversification.
How to Buy Crypto Directly on Venmo
If you need additional guidance on buying crypto on Venmo using its built-in crypto exchange feature, feel free to use our detailed step-by-step guide below:
Step 1 - Sign Up on Venmo or Log In
Naturally, you will need an active Venmo account to buy crypto with Venmo. If you don’t have one already, you can easily create one by downloading the Venmo app and following the on-screen sign-up instructions. Once you add and verify a funding source for your Venmo account, you can proceed with the next step.
If you already have an active and verified Venmo account, you can just log in and go to step two.
Step 2 - Select the Crypto “Tab”
Once you’re in the Venmo app, tap the “Crypto” tab, represented by the cryptocurrency icon at the bottom navigation bar. This will take you to the crypto section of the Venmo app and show you a list of all the available cryptocurrencies you can buy on Venmo’s built-in crypto exchange.
As we previously mentioned, Venmo does have Bitcoin as a supported cryptocurrency, so you can buy it using this guide.
Step 3 - Select the Crypto You Want
Tap on the cryptocurrency you want to buy, and on the next screen, tap on the blue Buy button at the bottom. If you want to buy BTC with Venmo, tap on Bitcoin’s icon.
Please note that before you can proceed with buying Bitcoin on Venmo, the app will likely ask you to verify your identity and agree to specific terms and conditions. Follow the on-screen instructions to go through the process.
Once you get to the screen that says “You’ve been verified,” you are done with this part, and you can tap on the blue “Buy crypto” button on the bottom to proceed with the next step.
Step 4 - Set the Amount and Review the Fees
In this step, you can enter the amount of dollars you want to exchange for the selected crypto. Once you have entered the amount you want, you can tap the “Review” button to see the transaction details, including:
- The amount of the chosen cryptocurrency you are getting
- The exchange rate of the transaction
- The transaction fee
- The total cost for the transaction
Be sure to double-check the transaction details, review the fees, and if everything checks out, you can go on and confirm the transaction.
Step 5 - Select the Payment Method
One important thing we want to point out is that you can buy crypto on Venmo using your Venmo balance, but you can also use alternative payment methods, such as a debit card or a bank account. Using a credit card or a Venmo credit card to buy crypto on Venmo is not a currently available option.
Step 6 - Send Your Crypto to a Wallet or Keep it on Venmo
After completing the purchase, the cryptocurrency you just bought should shortly be credited to your Venmo balance. You can decide to keep it in your Venmo account or send it to your own personal crypto wallet for better security and enhanced control.
Buying Bitcoin With Venmo on Exchanges
In addition to being able to buy Bitcoin with Venmo directly through the app’s built-in crypto exchange feature, you can use Venmo as a payment method to buy BTC from a centralized crypto exchange. While buying crypto directly from Venmo’s interface may be extra convenient, it may not always be the most cost-effective option, so buying it from an exchange is an avenue you may want to consider taking.
Buying Crypto on Venmo - The Requirements
Having explored the method in detail in our comprehensive guide, it is time we turn our attention to the requirements, and some other important aspects of buying crypto with Venmo. Here’s what this transaction entails and how it may concern you.
Fees
Buying crypto directly from Venmo can be a costly option. On top of the spread, which is a common fee charged by all crypto marketplaces, Venmo charges an additional transaction fee, which varies depending on the $ amount you want to exchange.
For example, buying Bitcoin with Venmo comes with the following transaction fees:
- $0.49 fee for amounts between $1.00 and $4.99
- $0.99 fee for amounts between $5.00 and $24.99
- $1.99 fee for amounts between $25.00 and $74.99
- $2.49 fee for amounts between $75.00 and $200.00
- For amounts between $200.01 and $1,000, Venmo charges 1.80% of the amount
- For amounts more than $1,000, Venmo charges 1.50% of the amount
For this reason, we recommend you consider alternative options and choose the best method based on your transaction size, fee preferences, and investment goals. Comparing these fees with other platforms can help you find a more cost-effective solution for buying and managing cryptocurrencies.
Age Requirements
The age requirement for buying crypto with Venmo is 18, which aligns with the app’s general age requirement for maintaining a Venmo account. In other words, if you are old enough to have a Venmo account, you can buy crypto with Venmo.
Identity Verification
To be able to buy cryptocurrency on Venmo, you must complete a process of identity verification. When setting up your account for crypto transactions (step three of our guide), Venmo will ask you to provide personal information including your full name, date of birth, and Social Security number.
Additionally, you may need to upload a government-issued ID and possibly answer questions about your employment and source of funds. This thorough verification process helps to ensure that all transactions on the platform are legitimate and that your investment is protected.
Location
Similarly to the age requirements, the location requirements for buying crypto with Venmo are the same as the general requirements. All states, except Hawaii, can use Venmo to buy and sell cryptocurrencies.
Funding Source
As previously mentioned, your Venmo balance, as well as any other bank account or debit card, can be the payment method or “Funding Source” for a cryptocurrency purchase through Venmo’s built-in crypto exchange.
As things stand right now, Venmo does not accept a credit card, or even a Venmo credit card, as a funding source for a crypto transaction. This is likely due to their potential for chargebacks or higher fees commonly associated with this type of card.
Terms of Service Compliance
Venmo has very specific terms of service regarding cryptocurrency transactions, which outline the permitted activities and responsibilities users bear when engaging in them.
It is essential you read and understand these terms thoroughly to ensure that your activities align with Venmo's policies. Breaking the rules and not adhering to the terms of service can result in account suspension and termination.
How to Send/Transfer Bitcoin on Venmo
Now that you know how to buy Bitcoin on Venmo, you may also want to learn how to transfer it to your crypto wallet, or send it to another Venmo or PayPal user. We can help you with this as well.
Here’s a quick breakdown of the steps you need to take to send BTC from your Venmo account:
- Go to the Crypto tab
- Select the currency you want to send
- Click Send
- Enter who you’re sending it to (wallet address)
- If you’re sending it on Venmo, just enter the name.
- If you’re sending it to PayPal, enter their address
- You can also scan the QR code for the address
- Choose the amount you want to send and click “Send Now”
Sending Bitcoin from Venmo is a quick and straightforward process, whether transferring to another Venmo user or an external wallet. Just ensure you have the correct recipient details before confirming the transaction.
How to Receive Crypto on Venmo
Here’s a quick breakdown of the steps you need to take to receive BTC to your Venmo account:
- Go to the Crypto tab
- Select the currency you want to receive
- Click Receive
- You will be given your wallet address or QR code for others to scan
As you can see, receiving crypto on Venmo is also simple. Simply navigate to the Crypto tab, select your desired currency, and share your wallet address or QR code with the sender. Always double-check the transaction details to ensure a smooth and secure transfer.
Conclusion
Buying Bitcoin and other cryptocurrencies on Venmo is a fast and beginner-friendly process, offering seamless integration with your existing Venmo account. While its simplicity and instant purchases make it appealing, remember that you won’t own private keys, limiting control over your crypto. Additionally, Venmo’s small selection of supported coins may not suit advanced traders. If you’re looking for a convenient way to start with crypto, Venmo is a solid option—just weigh the pros and cons before investing. Always prioritize security and research before making transactions.
Frequently Asked Questions
Is there a minimum or maximum amount for crypto purchases on Venmo?
Yes, there are both minimum and maximum amount limits for crypto purchases on Venmo. The minimum purchase amount is quite accessible, placed at $1. On the other end, there are two maximum crypto purchase amount limits, weekly and yearly, placed at $20,000 and $50,000, respectively.
What payment methods are accepted for buying crypto on Venmo?
To buy a cryptocurrency using Venmo, you can use your Venmo balance, a bank account, or a debit card, linked to your Venmo account. Credit cards are currently not an available option for buying cryptocurrencies with Venmo.
Does Venmo provide a digital wallet for storing purchased crypto?
When you buy cryptocurrency with Venmo, the app itself acts as the digital wallet where the coin you purchased will be automatically stored. You can then use the Venmo app to manage, trade or sell the coins within it, or buy additional cryptocurrencies.
Are there any restrictions or limitations when buying crypto on Venmo?
In addition to the fact that you can only buy five different cryptocurrencies on Venmo (one of which is its own stablecoin), another significant limitation is that you can’t transfer the cryptocurrencies out of your Venmo account to a crypto wallet. And as we already mentioned, you can’t use a credit card to buy cryptocurrencies on Venmo, and your crypto purchases are restricted with weekly and yearly limits.
What security measures does Venmo have in place for crypto transactions?
The security measures Venmo uses to safeguard crypto transactions meet the lofty standards set by its parent company PayPal. These include two-factor authentication, end-to-end encryption, and fraud monitoring protocols designed to detect and prevent unauthorized or suspicious activity.
How long does it take for purchased crypto to appear in my Venmo account?
The time needed for the newly purchased crypto to appear on your Venmo account balance depends on several factors, including network congestion, liquidity levels, etc. Although Venmo advertises that its transfers are immediately processed, this may be misleading, and it may take up to several hours, or worst-case scenario days, before you get your coin in your account.
