Cryptocurrency Q&A
What happens if I Sell cryptocurrencies on Venmo?
What happens if I Sell cryptocurrencies on Venmo?
Rosalia
Thu Aug 29 2024
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5 answers
922
Hey there, I'm curious about something. I've been dabbling in the world of cryptocurrencies and I've been wondering, what exactly happens if I decide to sell some of my holdings on Venmo? Do they have a specific process for it? Are there any fees or limitations I should be aware of? I'd appreciate any insights you can offer on the matter. Thanks!
5 answers
Carlo
Sat Aug 31 2024
It's important to note that, at present, Venmo does not support direct payments or purchases using cryptocurrency. This means you cannot use your Venmo account to buy goods or services with crypto assets.
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JejuJoyfulHeart
Sat Aug 31 2024
Upon completion of the sale, the generated proceeds will be automatically credited to your Venmo account. This account serves as a convenient digital wallet for managing your financial transactions.
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StormGlider
Sat Aug 31 2024
With your Venmo account, you have the flexibility to utilize the funds for various purposes. You can easily make payments to friends, family, or merchants who accept Venmo as a payment method.
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DondaejiDelightfulCharm
Sat Aug 31 2024
Additionally, Venmo offers the option to transfer the funds from your account to your linked bank account. This feature allows you to access the money and use it as you would with traditional banking services.
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Sara
Fri Aug 30 2024
Furthermore, Venmo does not facilitate peer-to-peer trades of cryptocurrency within the platform. You cannot use Venmo to exchange crypto with other users or transfer crypto to other accounts, whether within the app or to external wallets.
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