Cryptocurrency has changed the system and traditions of buying and trading traditionally. The figures supporting the same are quite good and impressive. When cryptocurrency started from scratch and started its journey from scratch, no one could have imagined anything the class is experiencing. A decade earlier some group or an anonymous programmer did a fantastic job of inventing an alternate form of payment that was named Bitcoin.
So, bitcoin was the parent father of all the revolutionary that we experience in currency time in the digital zone. Not only this but the scope and reach of common masses to smartphones and other smart gadgets also paved the way to gain popularity and other facts supporting its existence. Now, cryptocurrency has become an essential part of someone’s life that has engrossed him in the world of crypto. So he needs a platform where he can make exchanges and gains. In this article, we are going to discuss the same in the aspect of Venmo, a popular digital platform for buying cryptocurrencies. If you are interested in bitcoin trading you should know that you can use your android phone for mining Crypto.
In the digital zone, everything has gone digital. Be it making payments or anything related to finance has switched to digital. Venmo is a payment application that is available both to Android as well as iPhone users. When Venmo was introduced it was a free-to-use application based on a P2P form of network. In other types of payment applications payments usually get deducted from someone's bank account or debit card but in Venmo, it's completely different. The payment gets deducted from one’s credit card and charged to it after incurring a 3% fee. Also, if one wants to get the transaction completed instantaneously, it charges a nominal fee for that purpose. Apart from making payments, there is a facility for buying cryptocurrency on Venmo as well. You can easily buy the amount of crypto required after paying a suitable fee.
Buying crypto on Venmo
The feature of buying crypto on Venmo has completely supported the entire digital structure because many users that use Venmo on regular basis can become potential investors in the digital zone, thus increasing the business. Here are some steps that you can follow in Venmo to go through the trading process in the Venmo app. First of all, you have to open the application. In the second step, the user needs to access the crypto tab. In the crypto, tab user needs to select the preferred cryptocurrency. Along with the cryptocurrency names, one can easily see the exact price of that currency in the market on a real-time basis. Following the option to buy you need to enter the amount for buying cryptocurrency. Review the purchase and check whether the breakdown of your purchase suits you and is as per your requirement. If it’s good, go for the next step, if not hit back. Touch the buy button and your purchase is complete.
Payment methods supported by Venmo
In the case of purchasing cryptocurrencies on Venmo, the option of a credit card is not supported now. You can buy the currency using the previous Venmo balance, the debit card, or the bank account linked to your Venmo app. Some limits need to be followed while making the purchase. The limit is that you can purchase the cryptocurrency of the value of $20,000 in a week. If we see yearly, the limit is set to $50,000. It charges a little exchange value of money and due to the volatile nature of cryptocurrency, it is necessary as well. The purchase is quick and easy. The flexible interface of Venmo is a matter of appreciation.