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Crypto.com is one of the top cryptocurrency platforms with a massive selection of coins supported. While other platforms like Gemini support about 50 coins, Crypto.com supports over 250 coins!
If you want to start building a crypto portfolio or continue building one, Crypto.com may be the platform for you.
In this article, we cover the process to fund your Crypto.com account through your Venmo cash balance. We also cover the steps to create a Crypto.com account.
Unfortunately, funding your Crypto.com account must be done with a card or an ACH payment. Instead of directly moving your Venmo funds to Crypto.com, you will need to first transfer to your bank and then to Crypto.com.
Here are the steps to execute a transfer from Venmo to Crypto.com
Link Bank Account To Crypto.com and Transfer Funds
Purchase Crypto in Crypto.com
For more details on each of these steps, keep reading!
1. Create A Crypto.com Account
Crypto.com is one of the leading cryptocurrency trading platforms. It was designed to be more than a trading platform. They also offer members a metal visa card with up to 8% rewards and over 250 cryptocurrencies.
Enter in your email address and accept the terms and conditions if you wish (after reading them)
Tap "Continue"
Verify your email address with the verification sent to the email you entered
In the email, you will need to click on "Login"
After verifying your email address, you will continue with the account setup
You will be asked to enter in your phone number and verify it as well
Finish account setup by submitting your full legal name, copy of your ID, and a selfie
After submitting your account, you will be notified within 2-3 business days once you have been verified
After verification, you will need to create a 6 digit passcode
Assuming your information is correct and your images are clear, this verification can be completed in as little as 5 minutes!
2. Transfer from Venmo to your Bank
With a Crypto.com account created, you are ready to start moving funds. You'll get started by transferring your Venmo funds to your bank:
Open the Venmo app and login
Tap the person icon on the right in the bottom navigation menu
Select the "Manage Balance" choice underneath your Venmo balance
Choose "Transfer to Bank"
Enter in the amount you would like to move. Venmo will automatically set up the transfer with your entire balance. You can edit this number by tapping on it if you do not want to move the entire account balance
Choose to transfer your funds instantly (this option comes with a 1.5% fee or a max of $15) or regularly through the 1-3 business day option
Select a bank account to transfer to
Tap "Transfer $XX"
If you need to link a bank account to Venmo, you can do so by clicking on the "Add a bank" selection after tapping on the bank in the "Transfer to" space.
3. Link Bank Account To Crypto.com
In order to buy crypto in your Crypto.com account, you'll have to link a bank account or a credit/debit card. (If you happened to do this in step 1, skip on ahead to the last step!)
From the home page in the app, tap "Transfer"
Select "Deposit"
Choose "Fiat"
You will need to create a fiat currency wallet. To do so, tap on the + sign where it says "Set Up New Currency"
Select the currency option that applies to you
The popup highlights the agreement and terms & conditions. To move forward, check the box that states you understand and tap "Next"
If you haven't already verified the account, you will need to do so here. This is done by entering in your address, SSN, and photo ID.
After verifying your account, you will need to go through steps 1 through 3 again and choose your new fiat wallet
Add your routing and account number after choosing ACH deposit
Transferring funds from your bank account to your Crypto.com account will vary depending on the bank you have.
With a new fiat wallet set up, you can repeat steps 1-3 to initiate a transfer from your bank to Crypto.com
4. Purchase Crypto in Crypto.com
With a Crypto.com account created, funds moved from Venmo to your new fiat wallet, you are ready to build your crypto portfolio.
Follow the steps below to buy a cryptocurrency:
On the home page in the app, tap "Trade"
Next tap "Buy"
Select the cryptocurrency you would like to purchase
Next you will need to select how you would like to purchase. Select Fiat wallet, or choose credit card (you will need to add a card in that case)
Type in the amount of the desired crypto you want. EX. 0.001 Bitcoin.
Tap "Buy"
After reviewing the purchase, tap "Confirm"
And that is all it takes!
Transfer From Venmo To Crypto.com: Final Thoughts
Opening a Crypto.com account and buying your first crypto is actually a pretty simple process.
In order to fund your account using your Venmo cash balance, you will need to transfer the funds to your bank first and then to Crypto.com.
Perhaps in the future you will be able to transfer the funds from Venmo directly, but for now, you can complete this transfer using the steps above.
If you want to learn more about Crypto.com, be sure to check out our complete review.
Sam is a personal finance writer. While in college, he dedicated his spare time to learning about personal finance, investing, and real estate. Sam currently works as a business analyst for one of the top food manufacturers in the world.
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