Venmo is also a popular method for securely buying and selling Bitcoin instantly.
On the Venmo payment processor platform, users can link a bank account, or card as a funding method to send money to other people.
One thing the world at large is still not clear on, is how to go about acquiring Bitcoins for themselves.
Sure, there are many ways advertised and a good number of cryptocurrency exchange services that have garnered public attention.
Yet a clear approach on the matter still seems lacking.
In this article, I’ll be talking about how to go about buying Bitcoins with Venmo and aim to guide you on the best ways to do so as well.
Get started.
Shall we…?
How to buy Bitcoin with Venmo
To keep the whole process of buying BTC with Venmo, I’m going to guide you with the popular LocalCryptos P2P marketplace.
So how do you buy Bitcoin with Venmo?
- Visit LocalCryptos platform
- Create and verify your account (If you don’t have one)
- Browse for trusted and reliable vendors
- Select Venmo as payment method
- Open trade with the vendor and complete the terms
- Receive Bitcoins directly into account wallet.
Congratulations! You have successfully purchased the cryptocurrency with Venmo as the payment method on a P2P exchange.
3 ways to buy Bitcoin with Venmo
If you want to buy Bitcoin cryptocurrency using Venmo, then you have to find a reputable P2P (Peer-to-Peer) marketplace that will let you do it easily.
1. LocalCryptos
LocalCryptos launched in 2015, was known as LocalEthereum, and initially built as a P2P platform for buying only Ethereum (ETH).
The platform later rebranded – adding Bitcoin (BTC) and Litecoin (LTC), and some other established crypto-coins.
This is a non-custodial peer-to-peer exchange, and that means you don’t have to deposit your crypto directly on the platform.
Also, you are not required to verify your identity to use LocalCryptos.
Compared to Paxful, LocalCryptos has fewer payment methods, even though it continues to expand aggressively.
Sellers pay a 0.25% trading fee while buyers pay a 0.75% trading fee.
2. LocalBitcoins
LocalBitcoins‘ a P2P Bitcoin marketplace that specializes in connecting buyers and sellers, while serving as an escrow.
LocalBitcoins gives vendors the ability to create offers in all currencies including Google Pay wallet.
3. Binance
Binance is one of the best crypto exchanges for experienced investors, who are looking for a premium marketplace to perform real-time transactions.
It has support for over 166+ cryptocurrencies.
Both beginners and advanced investors have a myriad of tools and pairs available to them within the platform.
Binance accepts deposits in over 50+ currencies including USD, EUR, JPY, KRW, GBP, AUD, RUB, NGN and many more.
Frequently Asked Questions
Over to you
If you follow through to this extent of this guide, you will be able to purchase your desired amount of Bitcoin via the Venmo payment app.
Do not leave your Bitcoin investment in an exchange crypto wallet, where you bought to avoid risking it all to cyber theft and loss by misplacement.
Transfer it to a secure wallet, of which hardware wallets (like Ledger Nano X or Trezor T) happens to be the best in the market.
To maintain a little bit of anonymity in your Bitcoin transactions, you can as well make use of the best reliable VPNs (Virtual Private Networks) to hide your footprints.
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