Venmo Application Now Offers Cryptocurrency Trading

by | Apr 22, 2021 | Business | 0 comments

Venmo has recently launched a cryptocurrency section in its Android and iPhone app that could ultimately be considered Cryptocurrency 101 to newcomers to the world of digital currency. Venmo users can now buy and sell Bitcoin, Ethereum, Litecoin, and Bitcoin Cash from their mobile devices.


The following are Venmos Cryptocurrency-related transaction fees.
The transaction fees are last updated as of August 22nd, 2021. 


 Cryptocurrency Transaction
(buying or selling cryptocurrency)
  $1.00 – $24.99   $0.50
  $25.00 – $100.00   2.30%
  $100.01 – $200.00   2.00%
  $200.01 – $1,000.00   1.80%
  > $1,000.00   1.50%


Venmo Cryptocurrency Update: August 27th, 2021. I made my first purchase on Venmo’s Cryptocurrency market this afternoon at 4:01 PM. I spent $50 on Bitcoin (BTC) at $47,304.62 and received 0.0010506 BTC. I incurred a 2.3% purchase few bringing the total to $51.15. In addition to this fee, I ended up with $49.75 in BTC. This amount was due to paying a bit higher for the coin due to a currency conversion fee. I never came across this fee in any of my Venmo fees research until now. The way the math works out, I paid $51.40 for $50.00. That is a total of 2.8% in fees. Later, I did sell $1.50 of the coin when it reached $51.51 to see how the selling functionality worked and did only pay the $0.50 sale fee for this amount, and it was instantly available in my Venmo balance. 

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