Venmo users can now trade cryptocurrencies , marking another major milestone in digital currency adoption. News of the initiative broke in mid-April, and Venmo has already allows its customers to buy, sell and hold four major cryptocurrencies . Venmo representatives say they want to provide a simple platform for users to get acquainted with the world of digital currency.
Venmo is a payment system that allows mobile users to transfer money between themselves and merchants. Customers can pay all sorts of bills, such as splitting a restaurant bill or splitting rent or utilities. Service, owned by PayPal , works exclusively with US clients.
- Venmo customers can buy, hold and sell cryptocurrencies .
- Adoption digital currency is expanding .
- Online gambling wins from the crypto trend.
Venmo says yes '' crypto trading
Venmo now offers users the ability to buy, hold, and sell bitcoin, bitcoin cash, litecoin, and ethereum. Clients will be able invest only 1 dollar .
People who already own cryptocurrency cannot transfer their altcoins from a personal wallet to a Venmo account. None of the digital coins in Venmo can be sent to another e-wallet. But Venmo users can use their balance to buy digital currencies and fund their account with sales, all within the app.
Venmo User Training
This new installation aims to familiarize Venmo users with how the digital currency works , allowing them to trade the coin on the open market. The Venmo website hosts a series of guides, including video tutorials, on how cryptocurrencies work. Darrell Ash , senior vice president and general manager of Venmo, stated the following:
Our goal is to provide our clients with an easy-to-use platform that simplifies the process of buying and selling cryptocurrencies and dispels some of the common questions and misconceptions that consumers may have.
Cryptocurrency Online Payments Grow
While Venmo's new policy does not allow cryptocurrency payments from their app, this move is yet another a sign of growing adoption of digital currencies . More and more people are choosing virtual currency as an investment as well as for online payments.
When you consider the growing popularity of online shopping and the fact that more and more people are buying things through mobile devices, it becomes clear that the profile of the average consumer is changing with the development of technology. The idea of a new global financial system is gaining momentum .
Digital currency is gaining momentum
The volatility of digital currencies has caused the general public to shy away from buying in this move. But dozens of the world's largest companies, including Microsoft , Overstock and AT&T, accept cryptocurrency payments. And cryptocurrency holders love the advantage of peer-to-peer transactions without banking oversight, which blockchain allows.
Gaming sites are looking for new opportunities
One of the things that more and more people are buying with digital currency is a seat at the online casino table. When Bitcoin hit the scene over a decade ago, it gave players the ability to make fast payments with the anonymity and security of blockchain technology .
Dozens of cryptocurrencies have changed the profile of Bitcoin to attract more types of investors and payers.
Online Casino Crypto Promotions
More and more real money online casinos have caught on to the cryptocurrency payments trend by offering digital currency as an option for deposits and withdrawals. Speed and wide range of limits like players with both minimum stakes and high stakes.
Substantial online casino bonuses and digital currency deposit offers are popping up everywhere on gaming sites. As more people become confident in cryptocurrencies and online gambling expands, the trend towards using digital money to fund casino accounts and sports betting should continue .
The future is in cryptocurrencies
Cryptocurrency is losing its indefinite reputation and becoming an unstoppable force in the world of finance. Venmo solution that allows 70 million users place digital currency on your accounts, is the latest sign of a trend towards the use of virtual currency .
This massive adoption of cryptocurrencies in the US comes as the country is seeing a surge in online gambling. As more and more online casinos will work in the domestic market, more players will probably see that cryptocurrency is the best way .
The message "Now you can buy, store and sell cryptocurrencies with Venmo" first appeared in a US online casino.