Wednesday, May 12, 2021
Protect Your Immune System Today!
Home U.S Venmo just put crypto access in the palm of everyone's hand

Venmo just put crypto access in the palm of everyone’s hand

Venmo, which is owned by PayPal (PYPL), said its more than 70 million customers can buy bitcoin, ethereum, litecoin and bitcoin cash for as little as $1.

Cryptocurrency can often feel confusing and inaccessible to newbies, so Venmo will offer in-app guides and videos to help answer commonly asked questions and share information about the world of crypto.

The payment company hopes that this new initiative “demystifies some of the common questions and misconceptions that consumers may have,” Darrell Esch, senior vice president and general manager at Venmo, said in a statement.

More than 30% of Venmo customers have already started purchasing cryptocurrency or equities, according to the payments company. And 20% of those customers started doing so during the pandemic.

Last week, crypto enthusiasm soared as trading platform Coinbase went public at a valuation of $86 billion, followed by a wild 500% rally in Dogecoin — an asset that was created as a joke in 2013. Cryptocurrency backers have spent years insisting that bitcoin, ethereum and other digital coins could revolutionize the world of finance. That hasn’t happened yet, but Venmo’s announcement is another example of how crypto is creeping ever closer toward mainstream acceptance.
Venmo is joining a list of other companies that recently began recognizing or accepting cryptocurrencies. Tesla has started accepting bitcoin payments for its cars and now holds some of the digital currency on its balance sheet. Payment processors including Mastercard (MA), and Visa (V) are trying to streamline crypto payments on their networks. Goldman Sachs will reportedly soon offer its private wealth management clients avenues to invest in bitcoin and other digital currencies. And Morgan Stanley announced that it will offer its wealthy clients access to bitcoin funds.



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Boy meets girl. Girl goes traveling for 2 years

(CNN) — American student Nicole Erickson was about to embark on an epic round the world trip. Ahead of her lay two years...

Love Lake: Heart-shaped lagoons link up in Dubai desert

(CNN) — The sun is just dipping below the horizon as a steady line of four-wheel-drives, and a few plucky little sedans, pour...

Twin brother of NFL player Tarik Cohen found dead at Duke Power substation

"Raleigh Police Department detectives, working in conjunction with the Wake County Sheriff's Office, have confirmed the identity of the deceased individual that was...

Russell Westbrook breaks the NBA record for triple-doubles, surpassing Oscar Robertson

The record had stood since 1974, the year Robertson retired.The record-breaking moment occurred Monday night during the Wizards' game on the road against...

Recent Comments