Venmo Launches Crypto Trading Platform - CRYPTO FRIDAY
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Hey DEFI TIMES community,
On Sunday, we saw one of the biggest liquidation events in the history of crypto markets! Over $10 billion worth of positions has been wiped out - The market was overly leveraged!
Since then, we saw a massive sell-off; however, positive news stories keep popping up everywhere!
On Tuesday, Venmo announced they would be entering the crypto market: They will offer a trading platform where 70 million Venmo users can trade four different cryptocurrencies:
Bitcoin Cash (BCH)
Just one year ago, this news story would have struck the world’s attention - not so today!
Interestingly, Venmo is owned by PayPal, which also launched crypto trading a few weeks ago. Just like with PayPal, Venmo users will be able to trade crypto directly within the Venmo app. They will also provide guidelines for their users to better understand cryptocurrencies in general.
This is exactly what we need: Large companies having skin in the crypto game. Even though Venmo reports that 30% of their customers are already invested in cryptocurrencies, 70% are still not =)
And now, Venmo certainly has incentives to make them do so!
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You can now trade…
…on Synthetix! Microsoft and Coinbase are coming soon after!
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DISCLAIMER: All information presented above is meant for informational purposes only and should not be treated as financial, legal, or tax advice. This article's content solely reflects the opinion of the writer, who is not a financial advisor.
Do your own research before you purchase cryptocurrencies. Any cryptocurrency can go down in value. Holding cryptocurrencies is risky.