Introducing crypto transfers for Venmo customers

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Today, we’re taking steps to make the management and movement of cryptocurrencies (crypto) easy for Venmo customers by introducing the ability to transfer crypto to friends and family in the Venmo community. Customers will also be able to transfer to a PayPal account and to external wallets and exchanges, providing more choice and flexibility in how they move and manage crypto. Crypto transfers will roll out to Venmo customers in the coming weeks starting in May 2023.

Customers continue to turn to Venmo for help managing crypto. More than 50% of Venmo crypto customers say they chose Venmo specifically for the safety, security and ease of use it offers,¹ and over the past 12 months, more than 74% of Venmo crypto customers have continued to hold crypto in their Venmo account.² Additionally, since the beginning of 2023, nearly 50% of customers with existing crypto balances have added to their crypto holdings on Venmo.³

Transferring crypto on Venmo

Transferring crypto on Venmo can be done in a few easy steps. Venmo customers can navigate to the Crypto tab in the Venmo app, view their coins, and then tap Transfer arrows and choose to Send crypto – either to a Venmo account, or by entering a recipient’s wallet address to send to PayPal or another external wallet. Any customer can also print Receive to display their unique crypto address QR code, which can be shared with other people.