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A new feature has been announced by Venmo that allows customers to transfer cryptocurrencies to PayPal, wallets, and other platforms.

Venmo has announced a new feature that allows its customers to transfer cryptocurrencies to PayPal, wallets, and other platforms. Customers can transfer cryptocurrencies to friends and family within the Venmo community, as well as to PayPal accounts, wallets, and external exchanges.

The cryptocurrency transfer process for Venmo customers will begin in the coming weeks, starting in May 2023. Over 50% of Venmo cryptocurrency users say they chose Venmo for its security and ease of use. More than 74% of Venmo cryptocurrency users have continued to hold their cryptocurrencies in their Venmo accounts. Approximately 50% of customers who had existing cryptocurrency balances added to their holdings during the first few months of 2023.

Customers can transfer cryptocurrencies with just a few simple steps by navigating to the “Cryptocurrencies” tab in the Venmo app, viewing their currencies, and then clicking on the shares to select “Send Cryptocurrencies” – to a Venmo account or by entering the recipient wallet address to send it to PayPal or another external wallet.

Venmo remains committed to providing easy, fast, and secure services to the Venmo community. Since adding the ability to buy, hold, and sell cryptocurrencies on Venmo in 2021, the company has also added the option for credit card customers in Venmo to get cash for their cryptocurrencies and launched price alerts for Venmo customers to track cryptocurrency prices in real-time. Venmo plans to continue launching additional cryptocurrency products and services in the coming year.

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