Venmo, a Paypal service, has introduced the “Cash Back to Crypto” feature to allow credit card customers to automatically buy four types of cryptocurrencies with their cash back without incurring transaction fees.
Cash Back to Crypto on Venmo
Payments giant Paypal announced Tuesday a new feature on its Venmo platform called “Cash Back to Crypto” that enables Venmo credit card customers to “use monthly cash back in their Venmo account to auto-purchase cryptocurrency of choice, with no transaction fees.” The announcement details:
Starting today, Cash Back to Crypto will be rolling out to Venmo Credit Cardholders, offering more ways to use cash back and expanding on Venmo’s crypto functionality, which launched earlier this year.
Cash Back to Crypto will be available to all eligible Venmo Credit cardholders in the coming weeks, the company noted.
Venmo launched crypto trading on its platform in April, allowing over 70 million users access to four types of cryptocurrencies: bitcoin (BTC), ether (ETH), litecoin (LTC), and bitcoin cash (BCH).
“Customers will be able to manage their cash back to crypto auto-purchases in real time and can choose to change their crypto of choice at any time,” the announcement adds, elaborating:
Purchases made from their Venmo account using the auto-purchase feature with Cash Back to Crypto will not have any transaction fee associated with the purchase, with a cryptocurrency conversion spread built into each monthly transaction.
Paypal is currently hiring over 100 positions, including for Venmo, to expand its crypto service. The company recently revealed its expansion plans, including via a new wallet “super app,” open banking integration, U.K. expansion, and third-party wallet transfers.
“We continue to be really pleased with the momentum we’re seeing on crypto and we’re obviously adding incremental functionality into that,” said Paypal CEO Dan Schulman.
What do you think about Venmo’s Cash Back to Crypto feature? Let us know in the comments section below.
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Venmo, a Paypal service, has launched the “Money Again to Crypto” function to permit bank card clients to routinely purchase 4 varieties of cryptocurrencies with their money again with out incurring transaction charges.
Money Again to Crypto on Venmo
Funds large Paypal introduced Tuesday a brand new function on its Venmo platform known as “Money Again to Crypto” that permits Venmo bank card clients to “use month-to-month money again of their Venmo account to auto-purchase cryptocurrency of selection, with no transaction charges.” The announcement particulars:
Beginning immediately, Money Again to Crypto will probably be rolling out to Venmo Credit score Cardholders, providing extra methods to make use of money again and increasing on Venmo’s crypto performance, which launched earlier this 12 months.
Money Again to Crypto will probably be accessible to all eligible Venmo Credit score cardholders within the coming weeks, the corporate famous.
Venmo launched crypto buying and selling on its platform in April, permitting over 70 million customers entry to 4 varieties of cryptocurrencies: bitcoin (BTC), ether (ETH), litecoin (LTC), and bitcoin money (BCH).
“Clients will be capable to handle their money again to crypto auto-purchases in actual time and might select to alter their crypto of selection at any time,” the announcement provides, elaborating:
Purchases made out of their Venmo account utilizing the auto-purchase function with Money Again to Crypto is not going to have any transaction charge related to the acquisition, with a cryptocurrency conversion unfold constructed into every month-to-month transaction.
Paypal is presently hiring over 100 positions, together with for Venmo, to broaden its crypto service. The corporate just lately revealed its growth plans, together with by way of a brand new pockets “tremendous app,” open banking integration, U.Ok. growth, and third-party pockets transfers.
“We proceed to be actually happy with the momentum we’re seeing on crypto and we’re clearly including incremental performance into that,” stated Paypal CEO Dan Schulman.
What do you concentrate on Venmo’s Money Again to Crypto function? Tell us within the feedback part under.
Picture Credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This text is for informational functions solely. It’s not a direct supply or solicitation of a suggestion to purchase or promote, or a advice or endorsement of any merchandise, providers, or firms. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the creator is accountable, straight or not directly, for any harm or loss triggered or alleged to be brought on by or in reference to the usage of or reliance on any content material, items or providers talked about on this article.
