Venmo launches Litecoin

Venmo, currently ranked as the second most popular finance app in the United States, has launched its long-awaited cryptocurrency product to over 52 million users, marking another milestone for Litecoin adoption and accessibility. Along with Litecoin, Venmo users can buy, sell, and store Bitcoin, Ethereum, and BitcoinCash directly within the app, starting from $1.

​Cryptocurrency on Venmo allows customers to check out cryptocurrency trends, buy or sell cryptocurrencies, and access in-app guides and videos to answer frequently asked questions and learn more about the world of cryptocurrency. Customers who use cryptocurrency on Venmo can choose from four cryptocurrencies: Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. When making a transaction, customers can also choose to share their cryptocurrency journey with their friends through their Venmo feed.​

Venmo as a platform has grown exponentially in total payment volume (TPV) over the past few years, from $2.3 billion in 2014 to $159 billion in 2020, and this trend doesn’t appear to be slowing down anytime soon. the user has already dividing their screenshot Buy Litecoin online and share news in your feed. Darrell Esch, SVP and GM @ Venmo, said of the launch:

​“Crypto on Venmo is a new way for you to start exploring the world of cryptocurrency within the Venmo environment that the Venmo community trusts and relies on as a core component of their everyday financial lives. No matter where you are in your cryptocurrency journey, cryptocurrency is a key component of your everyday financial life. will help our community learn and explore cryptocurrency directly on a trusted platform and in the apps they know and love. Our goal is to provide our customers with an easy-to-use platform that simplifies the process of buying and selling cryptocurrency. “It simply explains some of the common questions and misconceptions consumers may have.”​

Venmo, a subsidiary of Paypal (which also supports Litecoin on its platform), has been growing and innovating rapidly to keep up with the changing trends in the financial landscape. According to the initial PR published in April, both companies will continue to push forward with a strong commitment to the ever-growing world of cryptocurrencies.

The launch of this feature furthers PayPal’s commitment to educating customers about the potential of digital currencies as they continue to grow and drive understanding and usability of cryptocurrencies at scale.