Can I Buy Bitcoin with Venmo?

Yes, American users can buy seven cryptocurrencies, including Bitcoin, directly within the Venmo app. After funding your Venmo account, you can instantly purchase cryptocurrency starting from just $1. Unfortunately, the platform is not regulated by the relevant financial authorities in the U.S. and charges significant fees starting at 2.2%.

While Venmo provides access to several cryptocurrencies, it does not support coins like Tether or BNB Coin. Investors seeking a more diverse digital asset selection and lower overall costs can transfer funds from Venmo to regulated crypto exchanges in the USA authorized by the Financial Crimes Enforcement Network (FinCEN), ensuring compliance with U.S. financial laws.

How to Buy Crypto with Venmo

While Venmo lets you directly buy Bitcoin, Ethereum, Litecoin, and Bitcoin Cash within its app, investors looking to explore a broader set of digital currencies can easily transfer funds to FinCEN-regulated crypto exchanges.

Kraken is a registered Money Services Business with FinCEN (MSB Reg #31000270997766). This platform accepts USD deposits from Venmo and supports over 460 cryptocurrencies to trade on spot and futures markets with low fees.

Follow these easy steps to purchase Bitcoin using Venmo and Kraken:

1. Register: Head to Kraken's official website and sign up for an account. Complete the mandatory identity verification (KYC) process to adhere to U.S. financial regulations.
2. Transfer Funds from Venmo: Move your Venmo balance to your Kraken account. Do this by either transferring USD or cryptocurrencies directly from your Venmo app.
3. Select Bitcoin: Once your USD deposit is successfully credited, visit the trading interface and select Bitcoin (BTC) from the available assets.
4. Finalize Purchase: Input the amount you wish to invest in Bitcoin, carefully review all transaction details, and confirm the order. Your Bitcoin will then be available in your Kraken wallet.

Will Venmo Support More Cryptocurrencies?

Venmo currently allows customers in the U.S. to buy, sell, hold, and transfer seven cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Solana, and Chainlink. The platform also supports PayPal’s own stablecoin, PayPal USD (PYUSD).

Venmo has steadily broadened its crypto offerings in 2025 with the addition of Solana, suggesting it may continue introducing more cryptocurrencies in the future. However, the company hasn’t publicly specified which digital assets might be added next.

Alternative Crypto Exchanges for Venmo Users

For Venmo users looking to expand beyond the cryptocurrencies offered directly within the app, transferring funds to regulated crypto exchanges provides additional opportunities. Below are three licensed platforms ideal for investors seeking broader crypto choices:

• Binance.US: Fully compliant with FinCEN regulations, Binance.US grants access to more than 150 cryptocurrencies. The exchange stands apart for its low trading fees, which begin at only 0.1%, robust market depth, and sophisticated trading interfaces.
• Coinbase: Headquartered in San Francisco, Coinbase is registered as a Money Services Business with FinCEN. It offers access to over 250 cryptocurrencies, charging roughly 0.6% per transaction.
• Gemini: Gemini operates under strict oversight from the New York State Department of Financial Services (NYDFS), providing strong regulatory compliance and high security standards. Users can trade more than 100 cryptocurrencies with fees starting at 1.49%.

Venmo charges relatively high fees starting at 2.2%, compared to industry leaders like Kraken (0.16%), Binance.US (0.1%), Gemini (1.49%), and Coinbase (0.6%), potentially impacting profitability for frequent crypto traders.

About Venmo

Venmo, launched in 2009 and now owned by PayPal, has evolved into a mobile-first financial platform widely used across the U.S. It offers peer-to-peer money transfers, merchant payments, and social sharing features, enabling users to split expenses or settle debts via linked bank accounts or cards. 

Since April 2021, Venmo has expanded to allow in-app cryptocurrency trading, letting users buy and sell major coins like Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Solana, Chainlink, and PayPal USD (PYUSD) starting with as little as $1, complete with built-in price alerts and clearly disclosed fees.

Final Thoughts

While Venmo makes crypto investing accessible for beginners, its limited selection, high fees, and lack of official regulatory oversight in the U.S. mean serious investors may benefit from dedicated crypto exchanges like Binance.US, Coinbase, or Kraken. 

If you're seeking lower costs, a wider range of cryptocurrencies, and greater transparency, consider transferring your Venmo balance to these regulated exchanges, ensuring both security and compliance in your crypto trading journey.