What is Crypto Cashback?
When you sign up for Cash Back to Crypto for your Venmo Credit Card, we’ll use your normal cash back rewards to buy the cryptocurrency of your choosing. You can hold that crypto, buy more crypto, or sell it when you want.
How do I turn on/off Cash Back to Crypto?
You can turn Cash Back to Crypto on and off in the Venmo app. Here's how:
- Go to the Cards tab
- Tap to select your Venmo Credit Card
- Tap the image of your Venmo Credit Card
- Scroll down to Rewards and tap the Purchase crypto toggle
Your cash rewards transferred to your Venmo account will reflect how you have the toggle set.
Can I change which crypto I purchase for my Cash Back to Crypto?
You can update which crypto will be purchased for your Cash Back to Crypto rewards in the Venmo app:
- Go to the Cards tab
- Tap to select your Venmo Credit Card
- Tap the image of your Venmo Credit Card
- Scroll down to Rewards and tap Change crypto
- Pick a different cryptocurrency
Will I be charged a fee for the crypto I get for my Cash Back to Crypto?
We waive the normal crypto transaction fees for Cash Back to Crypto auto-purchases made from your Venmo account. Please note that you will still incur fees for any crypto that you purchase or sell outside of the Cash Back to Crypto. The exchange rate for any crypto transaction includes a spread that Venmo earns on each purchase and sale.
When do I get my Cash Back to Crypto?
- If you were approved before 9/24/2026 (your Venmo Credit Card design includes your Venmo QR code), your cash back rewards transfer to your Venmo account 1-3 days after your statement end date.
- If you were approved after 9/24/2026 (your Venmo Credit Card design is a blue gradient), your cash back rewards transfer to your Venmo account at the end of each day.
For concerns about the Venmo Credit Card Rewards program specific to monthly rewards, please contact Synchrony Bank at 855-878-6462.
For concerns about daily cash back rewards and general cryptocurrency questions, please contact Venmo Support.
Head over to Contact Us and check out the options to Connect with Support if you need more help.
Do I pay taxes on the crypto I get for Cash Back to Crypto?
You will need to report gains or losses from the sale of crypto on your taxes. This includes the crypto you purchase and sell by using Cash Back to Crypto for your Venmo Credit Card.
I got cash back instead of crypto. Why?
Information provided by Venmo is not intended to be and should not be construed as tax advice. For questions about your specific tax situation, please consult a tax professional.
(Cardholders approved before 9/24/2026) Learn more about Venmo Credit Card terms and rates.
(Cardholders approved after 9/24/2026) Learn more about Venmo Credit Card terms and rates.
- Monthly rewards: See Venmo Credit Card Monthly Rewards Program Terms.
- Daily rewards: See Venmo Credit Card Daily Rewards Program Terms.
Use of cash back is subject to the terms of the Venmo User Agreement.
Venmo Credit Cards are issued by Synchrony Bank pursuant to a license from Visa USA Inc. VISA is a registered trademark of Visa International Service Association and used under license.