Are you looking to sell some of the crypto you have on Venmo? This article will help.
How do I sell cryptocurrency on Venmo?
After you’ve bought crypto on Venmo, you can sell that crypto in the Venmo app:
- Go to the Crypto tab
- Select your preferred cryptocurrency. You’ll see the current price
The Venmo app will display historical prices for your selected cryptocurrency. You can tap Sell and enter the amount of crypto you want to sell.
Are there fees when selling cryptocurrency on Venmo?
Venmo’s fees for buying and selling crypto (except for PYUSD) are from the spread (or margin) between the market price we receive from our service provider and the price of the crypto asset displayed to the user, and a transaction fee when buying or selling crypto assets. At the time you buy or sell crypto assets, we will disclose to you the applicable exchange rate and the amount of fees that you will be charged for that transaction.
The exchange rate will include an estimated spread of one-half of one percent (0.50%), provided, however, that the actual spread may be higher or lower based on market conditions. We will not separately calculate or disclose the spread we earn on each transaction. By using Venmo’s crypto services, you agree to pay all applicable exchange rates (including spread) and fees.
If you use a linked bank account or debit card as a funding source to buy crypto assets, your bank may charge you its own fees, including overdraft fees or insufficient fund fees, if applicable. Venmo is not responsible for any fees that may be charged to you by your bank.
For PayPal USD (PYUSD) only, the spread does not apply and there are no fees to buy or sell PYUSD on Venmo.
More information on pricing and fees can be found on the Venmo Fees page.
Where does the money go when I sell my cryptocurrency?
When you sell your crypto, the proceeds will go to your Venmo account. From there, you can use the funds to make payments or purchases, or you can transfer the funds out of Venmo.
My crypto sale is pending. Why?
Like other Venmo transactions, the proceeds from the sale of crypto can be held for review. If this happens, the funds will either be released to your Venmo account in up to seven days or you will receive a follow-up email from our team. You can see the estimated release date in your Venmo app. If your crypto sale has been pending for longer than expected, please contact our Support team.
I lost money on my cryptocurrency purchase. What can I do?
Venmo is unable to offer financial advice. We recommend speaking to a financial advisor.
How long does it take to receive money from selling cryptocurrency?
The money you receive from selling crypto is typically available in your Venmo account right away. Cryptocurrency sales are subject to review and could be delayed or stopped if there’s an issue.
In what order is my crypto sold?
Venmo uses the highest-in-first-out ("HIFO") method to calculate gains and losses when you sell crypto. More information is available in the User Agreement.
Will my crypto be sold instantly every time?
It’s possible for your sale of crypto to take longer to process and it may not always be successful. If the sale fails, we’ll notify you that the purchase was not successful and your crypto balance will not change. You can try to sell again when you see fit.