Venmo just put crypto access in the palm of everyone’s hand

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New York (CNN Business) Bitcoin and similar cryptocurrencies have gone increasingly mainstream, but Tuesday’s announcement that Venmo is adding crypto support just put crypto access in the palm of everyone’s hand.

Venmo, which is owned by PayPal (PYPL), said its more than 70 million customers can buy bitcoin [and other coins] for as little as $1.

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Cryptocurrency can often feel confusing and inaccessible to newbies, so Venmo will offer in-app guides and videos to help answer commonly asked questions and share information about the world of crypto.

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The payment company hopes that this new initiative “demystifies some of the common questions and misconceptions that consumers may have,” Darrell Esch, senior vice president and general manager at Venmo, said in a statement.


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