You can buy or sell cryptocurrency with Paypal.Paypal offers Buyer Protection peace of mind when you’re purchasing from a business.Other ConsiderationsĪ few other important differences to take into account before you make your choice between Venmo vs. But Venmo simplifies the entire transaction process by standardizing fees and other details, letting you finish the payment process in just a few, simple clicks. So, on the one hand, Paypal may offer more features and choices. Or you can choose to pay for goods or services, in which case the recipient has to pay the fee and have it covered by Paypal Purchase Protection. It’s because Paypal has layered in more complicated fee structures depending on whether payments are international, and what is being paid for.įor example if you’re sending money to a friend you can choose to pay the fee or have the recipient pay it. Why are there so many choices with Paypal while Venmo is such an easy 3-step process? The first step of the wizard looks simple enough. It’s a step by step wizard that changes the next options depending on your choices and who you’re sending money to. It’s also not very easy to find the link to transfer money to your bank or credit card.Īnd once you do select Send, the process isn’t a simple form. Paypal, on the other hand, has Send, Request, Crypto, and More buttons on the main page, mixed among all kinds of other information cluttered around the main dashboard. Your user will have to pay a fee for receiving the money but Venmo doesn’t bother you with those details. If the user has a Venmo account, you type the amount, a reason (if you want), whether to share the transaction publicly, and you’re done. Using the Venmo app, it’s really just a quick three step process without any confusing options or other choices. Without a doubt, the process of sending money to people with Venmo is much simpler and more streamlined. Venmo being much newer, is still getting a foothold.īeing able to pay for things directly in stores using these services means you don’t have to transfer money to your bank account before you can buy things with your balance.
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