Venmo will allow users to buy and sell cryptocurrencies on its app, the company said Tuesday, the latest mainstream financial platform to wade into alternative currency like Bitcoin.
In addition to Bitcoin, Venmo has opened up the platform to Ethereum, Litecoin, and Bitcoin Cash — generally considered to be among the mainstream of the digital currencies. Despite the social media-proclaimed arrival of Doge Day Tuesday, the cryptocurrency Dogecoin is not on the list to be cleared for trade on Venmo. Crypto buyers will be able to publish their purchases or sells on Venmo's social feed as well.
Bitcoin has attracted massive interest, particularly in the last 18 months. Its price has held steadily above $50,000, and the value of other cryptocurrencies has been on the rise.
The digital currency trading platform Coinbase went public earlier this month, giving the company a valuation of more than $80 billion. Companies like Tesla now accept Bitcoin as a form of payment on its cars.
Venmo will only allow users to buy, sell or hold cryptocurrencies. The company is not allowing its users to send these currencies as a form of payment between users yet.
Variety's Clayton Davis discusses why more than just the 1% are struggling after the LA fires. Plus, how awards shows will pivot to help victims. Watch!
Emily Hosie, CEO of Rebelstork, explains the concept of Returns Recommerce, plus how her company raised $18M to address the industry-wide issue of returns.
Steven Overly, Host of Politico Tech, talks to Dave Briggs about the key takeaways from Joe Rogan's interview with Mark Zuckerberg, all under 20 minutes. Watch!
Abrar Al-Heeti, Tech Reporter at CNET, explains what will happen if and when the TikTok app is banned in the United States. Plus, who may buy it? Watch!
Chris Lafakis, Director at Moody's Analytics, discusses how home insurance may change as a result of the devastation in California brought on by the LA fires.
