How to buy Bitcoin with Venmo

Venmo is an increasingly popular payment method and you can now use it for cryptocurrency as well. Compare the brokers that accept Venmo and learn how to use them.
By: Jonah Keri
Jonah Keri
Jonah Keri is a trader and analyst who spent 11 years at Investor's Business Daily covering the markets. He… read more.
Updated: Jun 23, 2021
Tip: our preferred broker is, eToro: visit & create account

This informative guide will help you understand the benefits and drawbacks of using Venmo to fund your cryptocurrency account, and the best brokers and exchanges to use.

Where can you buy Bitcoin with Venmo?

We’ve put together a list of top-rated brokers that accept Venmo below. They have all been reviewed and approved by our team of cryptocurrency experts, so you can be confident in whichever option you choose. If you’re not ready to do that yet, scroll down to keep reading.

1
Min. Deposit
$50
Exclusive promotion
User Score
10
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Start Trading
Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods
Bank Transfer, Wire Transfer
Full regulations list:
CySEC, FCA
2
Min. Deposit
$1
Exclusive promotion
User Score
9.3
The world's largest cryptocurrency exchange with over 2bn daily users
Innovative trading platform offering enormous range of crypto coins
Supports over 60 methods of payment including PayPal
Start Trading
Description:
Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.
Payment Methods
1Pay, 2C2P, 3d Secure Credit Card, ACH, ANELIK, Abaqoos, AdvCash, AlertPay, Alfa-Click
Algocharge, AliPay, American Express, Apple Pay, AstroPay, BPAY, Bank Link, Bank Transfer, Bank Wire, Baofoo, BitGold, BitPay, Bitcoin, Boleto, Bonds, Borneo Exchanger, Bradesco, CEX.io Mobile App, CFDs, CSS System, CUPS, CartaSi, Carte Bleu, Carte Bleue, Cash, CashU, Cashier Order, Check, Check (UK only), China UinonPay, China Union Pay, China UnionPay, ClickandBuy, Commodities, Contact, Contact Z, Credit Card, Cryptocurrencies, Currencies, DCPay, DIXIPAY, Dankort, Debit Card, Dengi Online, DineroMail, DirectPay, Dotpay, E-dinar, ELV, ENets, EPS, ETFs, EXCARD, Easy2Pay, EcoPayz, Ecommpay, Ecurrencyzone, EgoPay, Emerchant Pay, Eprotections, EstroPay, Ethereum, Euro Bank Account, Euteller, Express Dotpay, Express Polish Post Office 24/7, Express Zabka Market, Ezeebill, Ezybonds, FasaPay, Fastapay, Fastbank, Faster Payments, FilsPay, Forex, GTBank, Gate2Shop, Giropay, GlobalCollect, GlobalPAY, GlobePay, Gluepay, Halcash, I-Account, IPS, Ideal, Indices, Individual US State License(s), Indonesia Exchanger, InstaBill, Instadebit, IntellectMoney, Interswitch, Investmate, Itukar, KNET, Klarna, LaoForexBoard, LavaPay, Lion Payment, LiqPay, Litecoin, Lobanet, MOTO, MT4, MT5, Mailing Cash, Market Maker, Masari, Mastercard, MegaTransfer, Mister Cash, Mobile Trading App, Mobile Trading Platform, Moneta, Money Bookers, Money Order, MoneyBookers, MoneyGram, MoneyPolo, Multibanco, NETBANX, Nab, Namecoin, Neosurf, NetPay, OKPAY, OMT, OmahPoin, OnPay.ru, Online Naira, OrangePay, PAYSEC, POLi, POLi & BPay, PYEER, PagoEfectivo, Paxum, Pay Nova, PayCo, PayPal, PayRetailers, PayWeb, Payeer, Payoneer, Payonline, Payvision, Payza, Perfect Money, PocketMoni, Postbank, Powercash 21, Prepaid MasterCard, Prepaid MasterCard (I-Account), Prepaid MasterCard (Intercash), Prepaid MasterCard (Payoneer), Privat 24, Przelewy24, QIWI, RBK Money, Rapid Transfer, RegularPay, SEPA, Safecharge, SafetyPay, SahibExchange, Shilling, SmartPay, Sofort, SolidTrust Pay, SorexPay, Sporopay, Stock Certificate, Stocks, Swish, Teleingreso, Thailand Exchanger, Ticketsurf, Todito Cash, Trade Interceptor, Transact Europe Payment, Trazus, TrustPay, Trustly, UAE Exchange, UPayCard, USD, Ukash, Unet, UnionPay, Unistream, Uphold, Verve, Vietnam Exchanger, Visa, VixiPay, VoguePay, Vouchers, Wallet One, WeChat, Web Based Trading Platform, WebMoney, WebPay, Webtrader, Western Union, Wire Transfer, Wirecard, Yandex, Yandex Money, Yemadai, YuuPay, Z-Payment, Zenith, Array, cTrader, dinpay, eCard, eCheck, eKonto, ePay bg, ePayments Transfer, eToro Mobile Trading Platform, eToro Trading Platform, eTranzact, iPay, mPay, neteller, paysafecard, postepay, skrill, unichange.me
Full regulations list:
3
Min. Deposit
$20
Exclusive promotion
User Score
8.7
Margin Trading with full legal compliance
Cryptocurrency staking
Various Payment options
Start Trading
Description:
Cex.io offers exchange of fiat currency for Bitcoin Ethereum, Tether, and 23 other cryptocurrencies, as well as Bitcoin/Ethereum trading against the USD.
Payment Methods
Credit Card, Cryptocurrencies, Debit Card, Wire Transfer, skrill
Full regulations list:

What is a Venmo Bitcoin broker?

A broker is a service that executes your Bitcoin trades for you. Venmo is a mobile payment service that lets you transfer money via a mobile app. In this guide we’re concentrating on brokers that accept Venmo as a payment method or means to deposit funds.

How to deposit and withdraw via Venmo

Deposit

Here are some basic guidelines on how to deposit money using Venmo. Every platform will be slightly different, but in general it goes like this:

  1. If you don’t have a Venmo account yet, open one by either connecting via Facebook or your email address.
  2. Open an account with a broker that accepts Venmo as a form of payment, then verify it.
  3. Go to your broker’s website, and select the Venmo option on the “Add money” screen. 
  4. After that, you’ll be prompted to link your Venmo account to your brokerage account.
  5. Type in the amount of Bitcoin you want and select Venmo as the payment method.

Withdraw

You can simply perform the deposit process (detailed above) in reverse by clicking “Withdraw” instead. If your Bitcoin broker accepts Venmo for transactions, you can also use Venmo to execute a withdrawal even if you used a different method to make your deposit.

What should I look for in a Venmo Bitcoin broker?

You want to find a broker with the best features and lowest fees that also accepts Venmo. Here are some of the key traits to look for:

  • Competitive transaction fees. The fees vary depending on the service you use to make trades. Our guides will help you find the most reasonable transaction fees.
  • Speed. Your broker should enable you to make purchases within minutes. Ideally, you want your transactions to be carried out instantly.
  • Ease of use. The best brokers make it easy to get Bitcoin. Don’t waste time with brokers that make it complicated, and instead focus on platforms that offer a clean, simple to use interface and have a quality app as well.
  • A strong reputation. Use other people’s experiences to guide you. Look for a broker with lots of positive reviews so that you know their actions match up to their words.
  • A verifiable track record. The broker you choose should have a track record over a number of years.

Should I buy BTC with Venmo?

Pros

  • Fast. Transactions often happen within a matter of minutes, and in some cases can even happen instantly. 
  • Ease of use. Once you’ve linked your Venmo account to a broker, it’s a very simple process to get Bitcoin from there.
  • Will soon offer direct purchases and sales of Bitcoin. It was reported in the summer of 2020 that Venmo (and its parent company PayPal) will soon offer direct Bitcoin purchases and sales, expanding the platform’s presence beyond its link to existing brokers such as Coinbase.

Cons

FAQs

Can I remain anonymous with Venmo?
Do I need a crypto wallet?
How fast are transactions when you use Venmo?
Can I buy Bitcoin with Venmo instantly?
Are there low fees for using Venmo?
Can I hold cryptocurrency in my Venmo account?
Does Coinbase accept Venmo?
Can I get other cryptos using Venmo?
Is Venmo the easiest way to get Bitcoin?
What’s the biggest pro and con of using a peer-to-peer exchange?
How easy is it to find a peer-to-peer exchange that accepts Venmo?
Is Venmo recommended for beginners?
Is using Venmo a more viable strategy if you plan to hold Bitcoin for the long term?

Fact-checking & references

Our editors fact-check all content to ensure compliance with our strict editorial policy. The information in this article is supported by the following reliable sources.

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Jonah Keri
Financial Writer
Jonah Keri is a trader and analyst who spent 11 years at Investor's Business Daily covering the markets. He now writes about stocks, cryptocurrencies, and other… read more.