Venmo and cryptocurrency have one thing in common — both are booming right now.
Cashless and contactless payment methods have become exceptionally popular, especially due to the coronavirus pandemic, while cryptocurrencies such as Bitcoin have hit over $50,000 for the first time since May.
One of the most popular payment-sharing apps is Venmo, especially when it comes to sending friends money to split a bill or pay off a debt of some sort. All you have to do is link your bank, debit or credit card account. Do note, though, there is a 3% fee for sending money using a linked credit card. You can also trade select cryptocurrencies.
Venmo has the following cryptocurrencies available for trading: Bitcoin, Ethereum, Litecoin and Bitcoin Cash.
All you have to do is open the Venmo app and select “Crypto” from the menu to get started. You can invest as little as a $1.
Sign up for an account here.
What is cryptocurrency?
Cryptocurrency is a digital asset designed to be used over the internet, according to Coinbase. It’s decentralized, meaning it isn’t controlled by the government or any other central authority such as a bank.
If you’re interested in investing in other cryptocurrencies such as Dogecoin and Cardano, here are some options to get you started:
Which retailers accept Venmo as payment?
Here’s a full list of retailers that directly accept Venmo as payment:
If you prefer an actual card versus an app, you can apply for a Venmo credit card through Visa or a debit card through Master Card on the app. You can keep track of all purchase activity through the app.
Here are just some of the retailers that accept Venmo credit and debit cards (Visa and Master Card) as payment:
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