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

EU Makes Deal on MiCA Legislation to Regulate Crypto Markets
EU Makes Deal on MiCA Legislation to Regulate Crypto Markets Representatives of key European Union (EU) institutions and member states reached an agreement on the Markets in Crypto
Musk claims X hit by ‘massive DDoS attack’ delaying Trump interview
Jesse Coghlan8 hours agoMusk claims X hit by ‘massive DDoS attack’ delaying Trump interviewThe livestream ended up kicking off 30 minutes after the scheduled start, with the pair discussing immigration and the attemp
Buenos Aires to Run Ethereum Nodes by 2023
Buenos Aires to Run Ethereum Nodes by 2023 The city of Buenos Aires will deploy a number of Ethereum validator nodes in 2023. The statements were made by Diego Fernandez, secretary
Bitcoin At A Crossroads: $97,000 Cost Basis Holds Key To Next Breakout
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Cryptocurrency Exchange Bitso Launches Interoperable QR Payments in Argentina
Cryptocurrency Exchange Bitso Launches Interoperable QR Payments in Argentina Bitso, a Mexico-based, Latam-focused cryptocurrency exchange, has launched an initiative that aims to
Bitcoin Futures, Options, and Open Interest: Crypto Derivatives Break Records After the Halving 
Bitcoin Futures, Options, and Open Interest: Crypto Derivatives Break Records After the Halving Since the market rout on March 12, otherwise known as ‘Black Thursday,’
FTX victims go after company’s assets from criminal forfeiture
Turner Wright5 hours agoFTX victims go after company’s assets from criminal forfeitureThough Sam Bankman-Fried is currently serving a prison sentence, affected FTX customers and creditors are making claims on the firm
Fantom Network Launches Automated Smart Contract Audit System Watchdog to Monitor for Bugs
Fantom Network Launches Automated Smart Contract Audit System Watchdog to Monitor for Bugs On October 27, the Fantom Foundation announced a collaboration with the security and anal
US Turmoil and Negative Interest Rates – Billionaire Michael Novogratz Says ‘Watch Gold and Bitcoin’
US Turmoil and Negative Interest Rates - Billionaire Michael Novogratz Says "Watch Gold and Bitcoin"For the first time since October 2019, Federal Reserve Chair Jerome Powell admitt
Texas Blockchain Council endorses Ted Cruz for US Senate
Turner Wright1 hour agoTexas Blockchain Council endorses Ted Cruz for US SenateThe junior senator from Texas has spoken at several crypto conferences about Bitcoin mining and its potential benefits for the Lone Star Stat
IMF Predicts Banks Will Struggle at Least 5 More Years After Global Economy Recovers
IMF Predicts Banks Will Struggle at Least 5 More Years After Global Economy RecoversThe International Monetary Fund (IMF) has predicted that banks will struggle to generate profits
This Analyst Correctly Predicted The Bitcoin Price Crash To $99,000, Here’s What’s Supposed To Happen Next
Este artículo también está disponible en español. A crypto analyst who accurately forecasted the Bitcoin price crashto $99,000 has now made another notable prediction for