Want to buy crypto with Venmo? It’s easier than you think! Venmo, the app that simplifies splitting bills and sending money, now lets you dive into cryptocurrency with just a few taps. 

This guide walks you through buying crypto directly through Venmo or via platforms like Paxful—plus everything you need to know about fees and benefits.

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Key takeaways

• Venmo is a P2P payment app that makes sending money as easy as texting.
• Venmo has entered the cryptocurrency space, making buying crypto easy within the app.
• Venmo lets you buy cryptocurrency directly through the app, but you can also use it to purchase crypto through third-party platforms like Paxful.

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What is Venmo? And how does it work?

Venmo is a peer-to-peer payment app. Think of it like texting but with money. Need to split a dinner bill? Pay a friend back for concert tickets? Send a quick gift? Venmo makes it easy.

Setting up Venmo is a breeze— link it to your bank account, debit card, or credit card, and boom, you’re good to go. From there, you can send or request money from friends, family, or even businesses. 

One thing that sets Venmo apart is its social vibe. Users can add emojis, comments, and notes to transactions that appear in a public feed (though the dollar amounts stay private). It’s money that meets social media—because why not?

Other use cases of Venmo

• Paying for services: Many freelancers, small businesses, and service providers accept Venmo for quick, hassle-free payments.
• Sending money as gifts: Need a last-minute birthday or holiday gift? Sending money with a fun emoji-packed note is a solid option.
• Venmo card: For those who want to use their Venmo balance like a bank account, the Venmo debit card works for everyday purchases and even ATM withdrawals.

💸Venmo also features a social aspect, allowing users to share transaction notes and emojis in a public feed.

How do you find people on Venmo?

Finding someone on Venmo is easy. Here is how to do it:

• Type in their username in the search bar, or if you’re hanging out with them, you can even scan their QR code.

💡When you send or ask for money, you can add a little note, like, ‘For pizza night‘ or something similar. Additionally, you get to choose who sees the transaction. You can keep it private between you and the other person, show it only to your mutual friends, or make it public for everyone to see. It’s up to you!

Can you buy crypto with Venmo?

Venmo isn’t just for splitting brunch anymore—it’s now a player in the cryptocurrency space.

Like many financial platforms, Venmo has embraced crypto as digital currencies become more mainstream. But instead of catering to hardcore traders, it’s making crypto accessible to everyday users who might be curious but don’t know where to start.

With just a few taps in the app, Venmo users can buy, hold, and sell Bitcoin, Ethereum, Litecoin, and Bitcoin Cash—there is no need for a complicated crypto exchange. Here’s how to set up your account and make your first crypto purchase:

1. Set up your Venmo account

If you don’t have a Venmo account yet:

•  Download the app (iOS or Android) and follow the setup prompts. You’ll need to enter basic details—name, email, phone number—and verify your identity to unlock all features, including crypto.

2. Link  to your  bank account or debit card

To buy crypto, you must connect a bank account or debit card. To do so:

• Go to settings  >  Payment methods and add your preferred funding source.

⛔ Note: Credit cards won’t work for crypto purchases on Venmo.

3. Securing your account

Before making any transactions, take a minute to boost your security. This will go a long way in ensuring you don’t fall victim to hacking. Ensure you do the following:

•  Enable two-factor authentication (2FA) 
• Use a strong, unique password

4. Go to the crypto section

Once your account is ready, open the Venmo app and tap the “Crypto” tab at the bottom. Here, you’ll find the available digital currencies, including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.

5. Pick a cryptocurrency

Scroll through your options and choose the one you want to buy. Venmo provides real-time prices and basic market info to help you decide. If you’re new to crypto, this can be a helpful way to learn as you go.

💡You can start with as little as $1, making it a low-risk way to explore digital assets. 

6. Make your purchase

Enter the amount you want to buy—Venmo lets you start with as little as $1, so there’s no pressure to go big. Review the details (including fees), confirm your purchase, and you’re all set! 

‼️Remember, crypto transactions on Venmo are irreversible, so double-check before hitting buy.

Can I transfer cryptocurrency to other Venmo users or external wallets?

Yes! You can send crypto to other Venmo users or external wallets. Here’s how:

1. Open the “Crypto” tab.
2. Select the cryptocurrency you want to send.
3. Tap the transfer arrows in the bottom right.
4. Enter the recipient’s details and the amount.
5. Review and confirm your transfer.

Venmo crypto fees

Venmo doesn’t charge additional fees for buying or selling crypto within the app—the only cost is the blockchain network fee. While Venmo makes crypto transactions simple, blockchain network fees are an unavoidable part of the process. 

Network fees are charges imposed by the blockchain to process and validate transactions. Venmo doesn’t set these fees—they fluctuate based on the cryptocurrency you’re using (like Bitcoin or Ethereum) and the current demand on the network.

Network fees are deducted in the same cryptocurrency you’re transferring. So, if you’re sending Bitcoin, the cost comes from your Bitcoin balance.

What affects network fees?

• The cryptocurrency you use: Fees vary by currency. For example, Bitcoin tends to have higher fees than Litecoin due to differences in network congestion and block sites.
• Network traffic: When many people make transactions, fees rise—Venmo’s fee display updates in real-time to reflect these conditions.
• Transaction speed: Want your transaction to go through faster? You might need to pay a higher fee to incentivize miners to process it sooner.

How to keep fees low

•  Time your transactions: Fees are usually lower when network activity is down. If it’s not urgent, consider waiting for a quieter time.
• Use lower-fee cryptos: Bitcoin and Ethereum are pricey for transfers, while coins like Litecoin or Bitcoin Cash generally have lower fees.
• Double-check before confirming: Always review the network fee before completing a transaction to ensure you’re good with the cost.

Do I need to worry about taxes when using Venmo for crypto?

Unfortunately, yes—crypto transactions can have tax implications. You might owe taxes on any gains if you sell, exchange, or receive crypto (including through features like “Cash Back to Crypto”). 

Track your transactions and report them properly when tax season rolls around!

Buying crypto outside the Venmo app

While Venmo lets you buy cryptocurrency directly in the app, you can also use it to purchase crypto through peer-to-peer crypto marketplaces like Paxful. Here’s how to do it step by step:

1. Create a Paxful account

• Register with Paxful using your email and phone number. You can do this on the website or on the app (available on Google Play or iOS).
• To start trading, you must complete the KYC process, which includes verifying your identity with a government-issued ID—a standard security measure.

2. Search for crypto offers

• On the Paxful homepage, enter what crypto you want to buy (BTC, ETH, USDT, or USDC), how much you want to spend, and choose your preferred currency.
• Click “Find Offers” to browse sellers accepting Venmo.

💡 Tip: Use “Verified offers” filters to find trusted sellers with strong ratings. Check the image below for how to access verified offers.

3. Choose a seller

Look for sellers with:

• Competitive pricing
• A solid track record (lots of completed trades)
• High positive feedback

💡The better the seller’s reputation, the smoother your transaction will likely be.

4. Check the seller’s terms

• Click Buy on a seller’s offer to review their requirements.
• Some sellers may ask for a screenshot of your Venmo balance to confirm you’re the account owner—this helps prevent fraud.
• If the terms seem reasonable, move to the next step.

5. Start the transaction

• Enter how much crypto you want to buy and hit Buy Now.
• A chat window will open, and you can use it to ask questions or clarify details. (Keep all communication within Paxful’s chat to protect yourself in case of a dispute.)

6. Send the Venmo payment

• The seller will provide their Venmo details—double-check them before sending money.
• Once you send the payment, click Paid on Paxful and let the seller know in the chat.

7. Receive your crypto

• Paxful holds the cryptocurrency in escrow until the seller confirms your payment.
• Once confirmed, the crypto is released to your Paxful account.
• You can transfer it to your wallet or leave it in Paxful for future trades.

What are the advantages of buying crypto with Venmo?

Venmo makes getting into cryptocurrency easy—especially if you’re new. Here’s why it’s a great option for beginners:

1. Easy-to-use interface

Venmo’s design is simple and intuitive, so you don’t need to be a crypto expert to buy, hold, or sell digital currencies. The app walks you through the process with clear instructions and real-time updates, making it a stress-free experience.

2. No extra setups needed

Already using Venmo to send and receive money? Great! Since your bank account or debit card is likely already linked, buying crypto is just an extension of what you’re already doing—no need to sign up for a separate exchange or jump through extra hoops.

3. Low-cost entry

Not ready to go all-in? No problem. Venmo lets you start investing in crypto with as little as $1, making it easy to test the waters without committing a big chunk of cash.

4. Built-in learning tools

If you’re new to crypto, Venmo’s got your back. The app offers educational articles and videos to help you understand digital currencies before investing so you can make informed decisions instead of just guessing.