Venmo begins to implement cryptocurrencies
Great news: The mobile service, owned by PayPal and used to conduct digital transactions, is beginning to introduce a new generation of currencies. Of course, we are talking about a fairly well-known Venmo application. This is a great feature that is regularly used by millions of users. And today, without a doubt, a new chapter in the history of the project begins. After all, now, using Venmo, you can send transfers in cryptocurrencies. The app currently supports Bitcoin, Ethereum, Litecoin and Bitcoin Cash. Next, we will talk about the prospects of the application in the cryptoindustry and take a closer look at this event. So let’s get started.
What do you need to know about the service?
First, we need to remind the non-PayPal audience of what Venmo is. Actually, this is a fairly well-known platform used to carry out digital transfers directly from the user’s mobile device. But it should be understood that Venmo was originally developed as a standalone application. It’s just that the company met PayPal’s desire to purchase the provided functionality in time. That is why today the mobile functionality of the application is built in combination with PayPal. And the platform as a whole is wholly owned by this multi-billion dollar organization. But how did PayPal decide to move from classic currencies to progressive coins of the future? What motivated the introduction of digital assets into the operation of the system? The answer is simple – the reason was the understanding of current market trends and the ability to predict the future in the industry.
This is why PayPal has partnered with Paxos representatives. This young but already well-known firm helped a financial institution to finalize its own mobile functionality. After lengthy testing, PayPal is proud to present an updated version of the portable application. Venmo now supports the purchase, sale and transfer of multiple digital coins. So far, only the market leaders are among the implemented assets. But this is just the beginning. The company currently supports the use of Bitcoin, Ethereum, Litecoin and Bitcoin Cash. The company needs time to bring the functionality to perfection already in the working mode. So the day is not far off when we hear about the beginning of support for many new coins.
Should you start using Venmo?
The question is, in fact, rhetorical. After all, Venmo is the tool that every advanced user of the digital industry has in their arsenal. Thanks to Venmo, anyone can comfortably transfer many classic and digital currencies. Although the application has analogues, it does an excellent job with the competition and tirelessly attracts even more attention. And you can become one of the users of the platform. Especially if you are going to send transactions with digital savings. After all, it is the activity of ordinary users with the new tool that will make it clear to the developers that they are on the right path. So feel free to use Venmo. With your translations, you will show that the market is interested in convenient functionality for interacting with digital means of payment.
This is a big step for the entire crypto industry. After all, PayPal is actively studying the Blockchain, making plans for the development of the digital market. But today’s event became an indicator that the company is serious. What else do you think PayPal has to offer for the digital industry anytime soon? Share your opinion in the comments. And follow the news of the world of Blockchain and advanced technologies with us. We publish only high-quality, interesting material. Thanks for attention. Good luck!