Venmo added a feature recently that lets customers automatically purchase cryptocurrency through the new “Cash Back to Crypto” feature for cardholders (via TechCrunch).

Venmo Cash Back

Venmo’s card offers cash back for purchases, and you can now opt to automatically buy cryptocurrency using the cash you’ve earned. Coins that are currently supported include Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).

To enable Cash Back to Crypto, Venmo customers will navigate to the Venmo Credit Card home screen in the app, select the Rewards tab, then “Get Started.” From here, they’ll agree to the terms, select the crypto of their choice, and confirm their selection. Once enabled, when the cash back funds hit the customer’s Venmo balance, the money is immediately used to make a crypto purchase — no interaction on the user’s part is required.

The option can be turned on or off at any time.

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