Venmo, Tesla, and others begin to cash in on cryptocurrency
COLUMBIA, S.C. (WIS) - Cryptocurrency now is in the palm of your hand.
While Bitcoin, Etherium, and similar cryptocurrencies have become mainstream in the finance world, Venmo has now made it even more accessible to a wide range of consumers.
The announcement by the Cash App last week said its more than 70 million customers can now buy bitcoin, bitcoin cash, and others for as little as $1. Since the announcement, the company has said more than 30% of its customers already began purchasing cryptocurrency. The company said in a statement to CNN their hope is to “de-mystify some of the common questions and misconceptions,” that people have.
With this major investment into the crypto world, Venmo is joining a list of other companies that are making the switch to accepting cryptocurrencies.
Back in February, Tesla started accepting bitcoin payments for its cars, and CEO Elon Musk has been credited for raising the profile and prices of many cryptocurrencies through his social media channels.
You can find out more about using Venmo with cryptocurrency at www.venmo.com/crypto.
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