What Is Cryptocurrency?
Cryptocurrency is a revolutionary digital currency secured by advanced cryptography. Unlike traditional money, it operates without centralized control, using decentralized blockchain technology to record transactions transparently across a distributed network.
Supported Cryptocurrencies on Venmo
US-based Venmo users can trade these major cryptocurrencies:
- Bitcoin (BTC) - The pioneering digital currency
- Ethereum (ETH) - Smart contract platform
- Litecoin (LTC) - Faster Bitcoin alternative
- Bitcoin Cash (BCH) - Bitcoin fork with larger blocks
- Solana (SOL) - High-performance blockchain
- Chainlink (LINK) - Decentralized oracle network
Venmo also supports PayPal USD (PYUSD), a stablecoin pegged 1:1 with the US dollar.
👉 Discover how to maximize your crypto investments
Important Note: Cryptocurrencies aren't FDIC-insured and may fluctuate in value. Business accounts cannot hold digital assets.
Eligibility Requirements
To trade cryptocurrencies on Venmo:
- Must have a personal account (business/charity profiles ineligible)
- Complete identity verification with SSN/ITIN
- Be a US resident
Fee Structure Explained
| Transaction Type | Fee Structure |
|---|---|
| Buying/Selling | Percentage-based (disclosed during transaction) |
| PYUSD Trading | No fees |
| External Transfers | Network fees apply |
| Internal Transfers | Free between Venmo/PayPal accounts |
Bank-issued cards may impose additional charges like overdraft fees.
Transaction Policies
Irreversible Transactions
All crypto transactions are permanent - no cancellations or reversals allowed.
Weekly/Monthly Limits
- $20,000 max weekly purchases
- $50,000 annual purchase cap
- $25,000 weekly transfer limit
Common Decline Reasons
Your crypto transaction might fail if:
- You've hit purchase limits
- Payment method has insufficient funds
- Security flags are triggered
- Recent purchases haven't settled (7-day hold possible)
👉 Essential crypto security tips for beginners
Frequently Asked Questions
How do I start with crypto on Venmo?
Verify your identity, then access the Crypto tab in your app to begin trading.
Is my cryptocurrency FDIC insured?
No, digital assets lack FDIC protection and may lose value.
Can businesses accept crypto through Venmo?
No, cryptocurrency features are exclusively for personal accounts.
Educational Resources
Venmo's Crypto tab offers comprehensive learning materials about:
- Blockchain fundamentals
- Market trends
- Investment strategies
Note: Always research thoroughly before investing in volatile digital assets.