Advertisement

Venmo, Tesla, and others begin to cash in on cryptocurrency

Published: May. 5, 2021 at 5:39 PM EDT
Email This Link
Share on Pinterest
Share on LinkedIn

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.

Notice a spelling or grammar error in this article? Click or tap here to report it. Please include the article's headline.

Copyright 2021 WIS. All rights reserved.