How to Buy Crypto with Venmo

As outlined above, the best way to buy Cryptocurrencies with a Venmo account is by transferring funds into a regulated exchange in the US. We recommend Uphold that offers instant & free Venmo deposits via their Plaid integration and from all USA-based banks. Their exchange allows you to buy, sell, stake and trade over 250 cryptocurrencies, which is the widest variety out of any platform in the country.

Here is a step-by-step guide to help you get started:

  1. Create Free Account: Sign up to Uphold and complete your identity verification.
  2. Fund Account: Connect your Venmo account to complete a bank transfer via Plaid or ACH.
  3. Find Token: Head to the search bar, type in the crypto you want to buy, then click ‘Trade’.
  4. Buy Crypto: Input the amount of USD you want to invest and tap ‘Open Trade’.
Buy Crypto with a Venmo Alternative

Can I use Venmo to buy Crypto on Coinbase?

No, Coinbase does not accept deposits from Venmo accounts in the United States.  You can only use a bank account or debit card to buy Bitcoin and other crypto assets on the platform.

Is Venmo Good for Crypto?

Venmo is a popular peer-to-peer payment platform, but it's not necessarily the best option for purchasing cryptocurrency. One reason for this is that Venmo charges relatively high fees for cryptocurrency purchases, with a fee of 2% applied to each transaction. Additionally, Venmo only supports a limited range of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).

Venmo Crypto

Bottom Line

In conclusion, while Venmo may be a convenient option for peer-to-peer payments, it is not the best platform for buying cryptocurrencies due to its high fees and limited coin offerings. An alternative solution is to transfer your funds to a regulated exchange such as Uphold, which offers a wide range of cryptocurrencies and zero fees. By using Uphold and connecting it to your Venmo account via Plaid, you can easily buy, sell, stake, and trade digital assets with a few simple steps.