In case there is any doubt about the rise of cryptocurrencies today, we now find that Venmo, Paypal, the PayPal inter-payments subsidiary, has begun Implementation of support for the use of cryptocurrenciesInitially, it covers the following digital currencies: Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.
As of today, it will be available to some users of the platform, according to the platform, with the expectation that it will be available to most of its users by the end of next May.
The rise of the use of cryptocurrencies among individuals
Venmo currently has over 70 million users, Being young consumer profile users, Having established itself as one of the most popular payment platforms in the United States.
According to a study, 30% of its users decided to buy cryptocurrencies or stocks, as a percentage of them decided to do so throughout the current Covid-19 Coronavirus pandemic.
Run it, as a social network, and with the majority of users who have a youth profile, Multiple people can be encouraged to use cryptocurrencies for the first timeWhere he sees how his friends carry out transactions using cryptocurrencies.
Users They will be able to buy, hold and sell cryptocurrencies starting at $ 1, and manage all transactions within Venmo’s mobile app..
that happens PayPal, The parent company, has started users buying, maintaining and selling cryptocurrencies since the fall of last year, expanding possibilities at the end of last March, allowing users in the United States to use cryptocurrencies for payments for your online purchases.
The feature launch reinforces PayPal’s commitment to educating its customers about the potential of cryptocurrencies as it continues to grow and drive the widespread understanding and utility of cryptocurrencies.
Rival payment apps, like Square Cash, have already had support for cryptocurrency for quite some time, even for more than a year. For now, Venmo is focusing its service on the US market, although this does not mean that sooner or later, international markets will see a growth in payment services that begin implementing support for the use of cryptocurrencies among its users.
Image credit: Venmo