Simple Guide to Buy Bitcoin with Venmo Safely and Instantly

Venmo is a payment website with built-in social features that’s become very popular, especially in the US. It’s quick and easy to install, free to register with, and very straightforward to use and understand. The fees are similar to PayPal’s – but given that service’s popularity, this isn’t a problem.

Unfortunately, Venmo has one important drawback in common with cash. You can’t use Venmo for bitcoin purchases directly. Fortunately, one of the world’s biggest OTC crypto marketplaces does let buyers and sellers exchange bitcoin for venmo and vice versa.

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That service’s name is CoinCola. It is the pioneer of cryptocurrency exchanges that focus on perfecting the OTC services – coducting peer-to-peer cryptocurrency transfer. With over 100,000 monthly transactions, it’s one of the most reliable bitcoin exchanges in the world – and it also deals with dash, ethereum, and other cryptocurrencies.

Below, we explain how you can use Venmo to settle payment to buy bitcoin cheaply and quickly.

Registering with and using CoinCola

Making Venmo purchases with CoinCola is easy, even if you only have minutes and minimal technical skills. Here’s how the process works.

Opening an account and getting verified

1. Visit https://www.coincola.com or https://www.coincola.app.
2. Click “Sign up”.

   

3. Follow the on-screen prompts to verify your mobile number.
   
4. Having verified your number, log into your new account and go to “User Center” on the desktop website or the “Settings” part of your “Me” tab on your mobile app.

   

5. Click on either “Authentication” or “Real name verified”. Once again, this will depend on which version of the service you’re using.
6. Click on either “Authentication” or “Real name verified”. Once again, this will depend on which version of the service you’re using.
7. Upload the required images and/or key in your data to make sure your identity has been verified.
8. Once you’re done with the steps above, you can make your first Venmo purchase. All you have to do is:
   1. Go to the “OTC” tab.
   2. Find a seller that works with Venmo and click the “buy BTC” button next to their name.

      

   3. Choose how much bitcoin you want to buy – or how much money you want to sell.

      

   4. Read the advertisement carefully, talk to the seller, then make the transfer after you’re certain of your payment and coin release terms.
   5. Click “Mark as Paid” and wait for the seller to release your coins.
   6. If your seller does not release your coin, you can file a dispute to our 24/7 customer support on the upper right corner of the trading page. The seller’s assets are temporarily held on our system so we can review any conflicts.

That’s it! Once you go through this process, you will have the bitcoins you wanted on your balance.

Is CoinCola safe to use?

Compared to other exchanges on the Internet, CoinCola is safe to use for two reasons. First, it’s based in Hong Kong: a country with strong ties to both Asia and Europe. Should anything ever go wrong, CoinCola’s customers are well-protected by international, Chinese and Hong Kong laws.

Outside of that, CoinCola carefully verifies the contact details and identities of its users. This makes buying btc with Venmo safe and easy, no matter where you happen to be. Once again, should anything go wrong, offenders are easy to find and prosecute.

Conclusion

Venmo is one of the most popular ways to make fast cash transfers online. Unfortunately, using it to buy bitcoin is often difficult.

The silver lining is that CoinCola makes things both easy and cheap. As a reputable service with tiny fees – 0% for buyers and 0.7% for sales from advertised ads – it’s one of the best places to trade Venmo for bitcoin.

To learn more about the service, why not sign up for free today? That way, you’ll be able to buy crypto cheaply using cash, venmo, PayPal, and a variety of other options.

About CoinCola

Founded in 2016, CoinCola is a Hong Kong based company offering both over-the-counter cryptocurrency trading and crypto-to-crypto pair trading exchange. CoinCola now serves millions of users from over 150 countries with our fast, secure, and reliable trading services. We support BTC, ETH, BCH, LTC, USDT, DASH, and XRP. Visit www.coincola.com for more information.  

Calculating your current Bitcoin holdings? Check out our real-time Crypto Converter here.