Venmo will allow cryptocurrency transfers

The Venmo platform, a subsidiary of PayPal, works in the service of transfers with cryptocurrencies

PayPal’s subsidiary platform Venmo announced Friday that it will soon allow its users to execute cryptocurrency transfers.

According to the Hispanospost media outlet, starting this May, Venmo users will have the opportunity to “transfer funds to Venmo and PayPal accounts, as well as to third-party wallets and exchanges.”

It is important to clarify that users “must pay blockchain network fees” when transferring funds to an external wallet or exchange.

These Venmo trades will not be available to users in New York, according to the platform’s documentation, which also states that “none of Venmo’s cryptocurrency services are currently available in Hawaii.”


Source: hispanopost

(Reference image source: Tech Daily, Unsplash)

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