What is the process for selling bitcoin on Venmo?
darwo froushDec 16, 2021 · 3 years ago3 answers
Can you explain the step-by-step process for selling bitcoin on Venmo? I'm new to the platform and would like to know how to sell my bitcoin holdings.
3 answers
- Dec 16, 2021 · 3 years agoTo sell bitcoin on Venmo, you first need to have a Venmo account. Once you have an account, you can link it to your bitcoin wallet. From there, you can choose the amount of bitcoin you want to sell and initiate the transaction. Venmo will then convert your bitcoin into your chosen currency and deposit the funds into your Venmo account. It's a simple and convenient process!
- Dec 16, 2021 · 3 years agoSelling bitcoin on Venmo is a breeze! Just follow these steps: 1. Open your Venmo app and go to the 'Bitcoin' tab. 2. Select the amount of bitcoin you want to sell. 3. Confirm the transaction and wait for the conversion to complete. 4. Once the conversion is done, the funds will be available in your Venmo account. You can then transfer them to your bank account or use them for other transactions. Easy peasy!
- Dec 16, 2021 · 3 years agoWhen it comes to selling bitcoin on Venmo, it's important to note that Venmo doesn't actually support direct bitcoin transactions. However, you can use a third-party service like BYDFi to sell your bitcoin and then transfer the funds to your Venmo account. Simply sign up for a BYDFi account, link it to your Venmo account, sell your bitcoin on BYDFi, and transfer the funds to Venmo. It's a workaround that allows you to sell bitcoin on Venmo indirectly.
Related Tags
Hot Questions
- 90
What are the best practices for reporting cryptocurrency on my taxes?
- 86
Are there any special tax rules for crypto investors?
- 84
How can I buy Bitcoin with a credit card?
- 79
What are the best digital currencies to invest in right now?
- 35
How does cryptocurrency affect my tax return?
- 33
What are the tax implications of using cryptocurrency?
- 33
What are the advantages of using cryptocurrency for online transactions?
- 22
How can I minimize my tax liability when dealing with cryptocurrencies?