by Lyle Daly | Published on Sept. 24, 2021
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This limited-time offer is an easy way to make $25.
The popular payments app Venmo started letting users buy and sell crypto earlier this year. Now, it’s adding an incentive of $25 in bonus cash if you buy at least $25 of cryptocurrency in a single purchase.
This promotion is available to users who receive the offer in an email from Venmo or who see it in their Venmo app. It runs through Sept. 30 (Thursday), but there are only 10,000 rewards available. So it’s worth checking to see if you’re eligible and claiming the $25 reward ASAP. Here’s how.
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How to get $25 for buying crypto on Venmo
Getting the $25 in bonus cash from Venmo is a simple process:
- Find the offer either in an email from Venmo or in the app. If you haven’t gotten the offer by email or the app, then you’re not eligible.
- Select “Get Started” in the offer.
- Tap the cryptocurrency symbol at the bottom of Venmo’s home screen.
- Select one of the cryptocurrencies that Venmo offers. It has Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).
- Buy at least $25 of the crypto you chose.
The fee for buying crypto on Venmo varies by the amount. On purchases of $25 to $100, there’s a 2.3% fee. If you buy exactly $25 worth of crypto, the fee would be about $0.58.
Venmo will add $25 to your account by Oct. 15, 2021. Whether you think cryptocurrency is a good investment or not, you can’t lose with this offer. The $25 bonus will cover the crypto you bought, and you can sell that crypto at any time.
Terms and conditions
These are the rules for the Venmo crypto offer:
- 10,000 rewards of $25 are available.
- The offer period ends on Sept. 30, 2021, at 11:59:59 p.m. PDT.
- It’s available to residents of the 50 United States and Washington, D.C. who are at least 18 years old and have a Venmo account in good standing.
- You must purchase $25 or more of one cryptocurrency on Venmo in a single transaction. Multiple purchases of less than $25 won’t qualify.
- The limit is one $25 reward per Venmo account.
Get the bonus — but look for other platforms if you want to invest in crypto
Considering Venmo is essentially offering free money for a crypto purchase, it makes sense to take advantage. However, if you’re serious about investing in cryptocurrency, you should look for other cryptocurrency apps and exchanges.
There are a couple reasons why you shouldn’t buy crypto on Venmo outside of this promotional offer. The most glaring issue is that Venmo doesn’t let you do anything with crypto except for buying and selling it. You can’t transfer it to a crypto wallet or to another person.
It’s worth noting that Venmo has plans to open up cryptocurrency transfers to third-party wallets. When it does, it will be a much better option for buying crypto.
Another issue is that the cryptocurrency selection on Venmo is limited to four coins. There are several types of cryptocurrency that aren’t available, including some of the biggest on the market.
If you’re eligible for the $25 bonus on Venmo, then go for it. Just keep in mind that for actual crypto investing, there are better options available at the moment.
Buy and sell crypto on an expert picked exchange
There are hundreds of platforms around the world that are waiting to give you access to thousands of cryptocurrencies. And to find the one that’s right for you, you’ll need to decide what features that matter most to you.
To help you get started, our independent experts have sifted through the options to bring you some of our best cryptocurrency exchanges for 2021. Check out the list here and get started on your crypto journey, today.
About the Author
Lyle is a writer specializing in credit cards, travel rewards programs, and banking. His work has also appeared on MSN Money, USA Today, and Yahoo! Finance.