You can now buy bitcoin and other cryptocurrencies on Venmo—here’s what you need to know

Venmo on Tuesday announced that it will allow users to buy and sell cryptocurrencies on its platform. That means 70 million monthly active users will soon have access to bitcoin, ethereum and other digital tokens at a time when their value has never been higher.Here's what you need to know about buying bitcoin on Venmo.The digital tokens that will be available for purchase are bitcoin, bitcoin cash, ethereum and litecoin. Venmo hasn't specified any limit on the amount of crypto a person can acquire. The only rule is that your investment must be worth at least $1. The investment will then be stored on your account within the Venmo app and can be sold at any time.Investors who own bitcoin in another wallet like Coinbase won't be able to transfer their bitcoin to Venmo, a company spokesperson told CNBC Make It. Likewise, any crypto acquired through Venmo will only be…

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