If there is any doubt about the rise of cryptocurrencies in our day to day we now see the launch of Venmo, the PayPal subsidiary for payment between individuals Enable support for the use of cryptocurrencies, Initially included the following digital currencies: Bitcoin, Ethereum, Bitcoin Cash and Litecoin.
As of today, it will be available to some users of the site, with the expectation that it will be available to most of its users by the end of next May.
Increasing use of cryptocurrencies among individuals
Venmo currently has over 70 million users, Mostly young consumer profile users, Has established itself as one of the most popular payment sites in the United States.
According to a study, 30% of its users have decided to buy cryptocurrencies or shares, with one percent of them deciding to do so throughout the current Govt-19 corona virus infection.
Its functionality is as a social network, with a young profile and a majority of users, More than one person can be encouraged to use cryptocurrencies for the first time, I see how his friends do transactions using cryptocurrencies.
Users Wenmo manages all transactions within its own mobile app, and they can buy, hold and sell cryptocurrencies starting at $ 1..
It happens PayPal, The parent company, has been buying, maintaining and selling cryptocurrencies to users since the fall of last year, expanding the possibilities at the end of last March, allowing users in the United States to use cryptocurrencies to pay for your online purchases.
The release of this feature strengthens PayPal’s commitment to educating its customers about the capabilities of digital currencies, which continue to grow and pay great attention to the understanding and usefulness of cryptocurrencies.
Competitive fee applications such as Square Cash have already had cryptocurrency support for more than a year. Now Venmo is focusing its service on the US market, however this does not mean that sooner or later, international markets will see the growth of payment services that will begin to implement support for the use of cryptocurrencies among their users.
Image credit: Venmo