Venmo has made a big move in the crypto space, allowing users to buy, sell, and transfer crypto directly through the app. But does this mean you truly own your crypto, or is it just another custodial service like PayPal? This week, we’re taking a deep dive into Venmo’s new crypto features, withdrawal limits, and fees to see how much control users actually have over their assets.Venmo’s Crypto Services: What’s New?
Venmo, owned by PayPal, now supports Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. Here’s what users can do:
 Buy & Sell Crypto – Purchase and sell supported cryptocurrencies through the Venmo app.
 Transfer Crypto – Send crypto to other Venmo users, PayPal accounts, or external wallets.
 Track Market Trends – View real-time crypto price movements and performance within the app.
But here’s the big question: Do you really own your crypto, or is Venmo just holding it for you?Custodial vs. Non-Custodial: Who Holds the Keys?
A key part of crypto ownership comes down to who controls your private keys:
 Custodial (Venmo/PayPal) – Venmo holds your private keys, meaning you don’t have full control over your crypto. While this makes transactions easier, it also means your assets are dependent on Venmo’s policies.
 Non-Custodial (Your Own Wallet) – You control your private keys, meaning no third party can freeze or restrict your access to your funds. This is the true definition of owning crypto.
Venmo’s latest update does allow external transfers, which is a big step forward compared to PayPal’s early crypto offering. But are there limits? Let’s look at the fine print.Venmo’s Crypto Limits & Fees: What You Need to Know
 Purchase Limits – Buy up to $20,000 in crypto per week, capped at $50,000 per year.
 Withdrawal Fees – Standard network fees apply when transferring crypto out of Venmo.
 Transfer Restrictions – Users can only send crypto to Venmo accounts, PayPal, or self-custody wallets (external transfers were not initially available but have since been added).
For now, Venmo offers more control than PayPal’s original crypto service, but it’s still not a fully decentralized solution. If you want full ownership, moving your crypto to a private wallet where you hold the keys is the best move.The Verdict: Convenient, But Not Full Ownership
Venmo’s crypto expansion is another sign of mainstream adoption, making it easier for millions of users to get into Bitcoin and other digital assets. However, true ownership comes with self-custody, so if you’re serious about controlling your crypto, consider withdrawing it to your own wallet.
Would you use Venmo for crypto, or do you prefer full control over your assets? Let us know!