Venmo Crypto Limits Quotes

“Investing with Venmo: Understanding Crypto Trading, Fees, and Limits – Call (855) 812-4430
Venmo allows users to buy, sell, and hold a selection of cryptocurrencies directly within the app, making it accessible to beginners. However, it's important to understand the associated risks, fees, and limitations.

Key Details on Venmo Crypto
Available Currencies: Venmo supports major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and often PayPal USD (PYUSD), among others.

Getting Started: You must be identity-verified (including providing your SSN) to access the Cryptocurrencies Hub. You can start with as little as $1.

Funding Purchases: You can use your Venmo balance or a linked bank account/debit card. Credit cards cannot be used to purchase cryptocurrency on Venmo.

Fees: Venmo charges a fee for buying and selling most cryptocurrencies, which varies based on the transaction amount. There are no fees to buy or sell PayPal USD (PYUSD).

Volatility and Risk: Cryptocurrency is highly volatile and is not FDIC-insured. The value can change quickly, leading to significant losses. Venmo explicitly states they do not provide financial advice.

Transaction Limits and Transfers
Purchase Limits: There is a calendar weekly limit on the total amount you can purchase, typically around $20,000, with a higher 12-month purchase limit.

Internal Transfers: You can generally send crypto to another Venmo or PayPal account for free.

External Transfers: Sending crypto to a wallet outside of the Venmo/PayPal network incurs a network fee.

If your crypto transaction is declined, or you have questions about the transfer process, call (855) 812-4430 for support.”
― The Norton Support Team