Fun

Paypal’s Venmo Launches ‘Cash Back to Crypto’ Feature to Auto Purchase Cryptocurrencies

News Feed - 2021-08-11 07:08:14

Paypal"s Venmo Launches "Cash Back to Crypto" Feature to Auto Purchase Cryptocurrencies


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. UK’s Standard Chartered to Offer Crypto Brokerage Services in Ireland FINANCE | 2 days ago JPMorgan Quietly Offers 6 Crypto Investments Despite CEO Jamie Dimon"s Anti-Bitcoin Stance FINANCE | 4 days ago Tags in this story automatic purchase, Buy Bitcoin, buy cryptocurrencies, cash back to crypto, credit cards, Paypal, paypal crypto, Venmo, Venmo credit cards, venmo crypto, venmo cryptocurrency


Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments

News Feed

India’s Tax Authority Asks Crypto Exchanges for Details of Coins Traded on Their Platforms
India"s Tax Authority Asks Crypto Exchanges for Details of Coins Traded on Their Platforms India’s tax authority has reportedly asked major cryptocurrency exchanges in the co
CFTC Prepares to Step up Oversight of Crypto Market — Says Many Digital Assets Are Commodities
CFTC Prepares to Step up Oversight of Crypto Market — Says Many Digital Assets Are Commodities The Commodity Futures Trading Commission (CFTC) has shared with Congress its plans
Marcel Pechman8 hours agoBitcoin traders put eyes on $31K even as $2B in BTC options expire on FridayBTC traders fix their eyes on $31,000 even as $2 billion in Bitcoin options are set to expire on July 28.3616 Total vie
Bitcoin Cash Gets Significant Privacy Boost With Cashfusion Alpha Launch
Bitcoin Cash Gets Significant Privacy Boost With Cashfusion Alpha Launch On January 17, the BCH developer known as Acidsploit announced the launch of the highly anticipated Cashf
Helen Partz8 hours agoARK, 21Shares update spot Bitcoin ETF application as next SEC deadline loomsThe latest update is the third amendment to ARK and 21Shares’ Bitcoin exchange-traded fund prospectus since the firms fi
Web3 Firm Acquires Creator of South Africa’s First Listed PoW Crypto, Safcoin
Web3 Firm Acquires Creator of South Africa"s First Listed PoW Crypto, Safcoin A Web3 technology company, Virtual Nation Builders, recently said it acquired FHM, the firm that creat
Edward Snowden Says Bitcoin Up 10x Since He Tweeted About Buying It, China’s Ban Makes BTC Stronger
Edward Snowden Says Bitcoin Up 10x Since He Tweeted About Buying It, China"s Ban Makes BTC Stronger Privacy activist and whistleblower Edward Snowden says that bitcoin is up about
US Government Moves to Regulate Cryptocurrencies After Attorney General Publishes Enforcement Framework
US Government Moves to Regulate Cryptocurrencies After Attorney General Publishes Enforcement FrameworkUnited States Attorney General (AG) William Barr says the recent publishing of
Decentralized AI is key to more unbiased AI algorithms — Masa co-founder
Zoltan Vardai10 hours agoDecentralized AI is key to more unbiased AI algorithms — Masa co-founderGoogle’s Gemini AI has faced recent outrage after generating historically inaccurate imagery and biased results. Decent
Space Odyssey Loyalty Program by BitSpinCasino Dishes Out up to 15% Weekly Cashback & 300 Free Spins
Space Odyssey Loyalty Program by BitSpinCasino Dishes Out up to 15% Weekly Cashback & 300 Free Spins Get rewarded for reaching new levels in the loyalty program by playing games an
Bitcoin.com Games Invites You to Celebrate Easter With a 3-in-1 Promotion
Bitcoin.com Games Invites You to Celebrate Easter With a 3-in-1 PromotionIn what seems to be one of the most springtastic events of the year, Bitcoin Games has decided to celebrate
Bitcoin, Ethereum Technical Analysis: BTC Surges Above $30,000 to Start the Week
Bitcoin, Ethereum Technical Analysis: BTC Surges Above $30,000 to Start the Week Following a weekend which saw bitcoin trading mainly in the red, prices rebounded to start the week