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Buying Cryptocurrency on Venmo

  • Updated

Are you looking to buy crypto on Venmo? Check out this page for some helpful info.

 

How do I buy crypto in the Venmo app?

  1. Go to the Crypto tab
  2. Select your preferred cryptocurrency - we'll update the displayed current price every few seconds 
  3. Enter the dollar amount for your purchase and hit Review 
  4. Your app will show you a breakdown of how much of the cryptocurrency you’re about to buy, along with any fees 
  5. Tap Buy to complete the purchase 
    • Remember, crypto purchases are final and cannot be reversed 

You can use your Venmo balance, your bank account, or your debit card to buy crypto on Venmo. At this time, you cannot use a credit card or your Venmo Credit Card to make these purchases.  

 

What limits exist for buying crypto on Venmo?

You are limited to $20,000 in crypto purchases per week. There is also a limit of $50,000 in crypto purchases in a 12-month period.  

 

Why is there an exchange rate for cryptocurrency?

Since crypto is digital money, you're essentially swapping one currency for another when you buy and sell it. The exchange rate tells you how much crypto or dollars you'll get in the swap and refreshes often because the value of crypto is constantly changing. 

 

Are there fees when buying cryptocurrency on Venmo?

You will incur a fee when you buy or sell most cryptocurrencies on Venmo. The fee will vary based on the purchase or sale amount. Venmo displays that amount when you are making a transaction. You can learn more about how these fees are calculated in Venmo’s Cryptocurrency Terms and Conditions.

If you use a linked bank account or debit card for a Venmo transaction, your bank may charge its own fees, like overdraft fees or insufficient fund fees. Venmo is not responsible for fees charged by your bank.

There are no fees to buy or sell PYUSD on Venmo.

Learn more about fees on Venmo.

 

Will my crypto be bought instantly every time?

It’s possible for your purchase of crypto to take longer to process and it may not always be successful. If the purchase fails, we’ll notify you that the purchase was not successful.  

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