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Last Update February 28th, 2020. As a social payment network, Venmo is one of the more popular methods for people to send money to friends and family. On the platform, users can add a bank account or debit card as a funding method which can then be used to send money to other people.

Venmo is also a popular method for buying bitcoin from other people.

At the moment, there are a total of two platforms that accept Venmo as a payment method: Paxful and LocalBitcoins.

Where To Buy Bitcoin With Venmo Instantly

 
Company
Fees
Countries Supported
Paxful Icon Resized
Paxful

Free, 0.1% to 5% for sellersEvery country except for a few (see banned countries)
LocalBitcoins Icon Resized
LocalBitcoins


Free, 1% to advertisersAll countries

What Is Venmo?

Venmo, acquired by PayPal in 2013 for $800 million, is one of the most popular social platforms for sending and receiving money. As bitcoin is a uniquely peer-to-peer digital currency, Venmo is a peer-to-peer social payment network.

Venmo Logo

On Venmo, transactions must go through the centralized Venmo network where users can instantly pay their friends by opening the app and finding their friends’ profiles. For most users, this is all they need. Interestingly, more companies are integrating their services into Venmo and using it as an API.

Is Venmo Supported Internationally?

No, the Venmo app is only available for citizens of the United States to send and receive money to one another.

An alternative to Venmo is to use PayPal. You can also use a bank account or debit card to buy bitcoin which uses funds from the same linked bank account and is less risky overall.

Paxful

Paxful Logo

Rating

Website:paxful.com
CEO:Ray Youssef
Headquarters:New York, New York
Founders:Ray Youssef, Artur Schaback
Founded:2015
Customer service:Knowledge Base
More information:Read Review

Paxful is a person-to-person marketplace that supports over 300 payment methods.

Pros

  • Escrow system
  • Security
  • Diverse payment methods
  • Simple user interface (UI)
  • Wide variety of sellers

Cons

  • Buyers and sellers are at risk of being scammed

ReputationFeesPrivacyLimits
ExcellentLowHighHigh

LocalBitcoins

LocalBitcoins Exchange Logo

Rating:

Website:localbitcoins.com
CEO:Sebastian Sonntag
Headquarters:Helsinki, Finland
Founders:Nicholas Kangas, Jeremias Kangas
Founded:2012
Customer service:Knowledge Base
More information:Read Review

LocalBitcoins is a person-to-person bitcoin trading platform that specializes in connecting buyers and sellers.

Pros

  • Available in every country of the world
  • Extremely diverse selection of buyers and sellers
  • Supports many payment methods
  • Buyers get their bitcoins fast
  • Private
  • Simple to use

Cons

  • Lack of cryptocurrency diversity
  • Both sellers and buyers have a chance of being scammed.

ReputationFeesPrivacyLimits
ExcellentLowHighHigh