Venmo users can now buy and sell cryptocurrencies

(Tech Daily/ Unsplash)

By Isoken Osagie

Venmo announced Tuesday its mobile payment platform will begin allowing users to buy and sell bitcoin and other cryptocurrencies.

According to CNBC, customers can invest in four different cryptocurrencies — bitcoin, ether, litecoin and bitcoin cash — with a minimum spending requirement of $1. Users can also share their crypto purchases with friends on Venmo’s social feed.

The PayPal-owned company's move follows PayPal's decision to allow users to purchase and pay for online goods with cryptocurrencies.

The company tweeted Tuesday, "Crypto on Venmo is starting to roll out today and will be available for all customers directly in the Venmo app within the next few weeks."

With over 70 million users, most of which are younger Americans, CNBC reports that Venmo's move is a natural and significant step in moving cryptocurrencies into the mainstream.

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