This means over 60 million Venmo users in the U.S. can easily start buying Solana (SOL) .
With Phantom, users can hold, send, and receive Solana, along with other Solana-based tokens. Until now, users had to use credit cards or other payment methods to buy crypto within the Phantom wallet. But with Venmo joining the mix, it’s now even easier.
How Venmo and MoonPay Fit In
Venmo , a popular payment app in the U.S., is often used to send money to friends or split costs. Now, it’s teaming up with MoonPay , a platform that helps people buy and sell crypto. MoonPay will work behind the scenes to make it simple for Phantom wallet users to buy Solana with their Venmo accounts. This partnership is great news for two reasons:
- It makes buying crypto more convenient. Instead of signing up for a separate exchange or using a credit card, Phantom users can use Venmo, an app many people already know and trust.
- This helps open the door to new users who may have been curious about crypto but didn’t know where to start. As the saying goes, “the more, the merrier”—bringing in more people helps grow the crypto community.
You can now buy crypto in Phantom with @Venmo 🤑
We’re excited to work with @MoonPay to bring @Solana to Venmo’s 60 million users in the US 🇺🇸 pic.twitter.com/vjW6XXztQ0
— Phantom (@phantom) November 7, 2024
To use this feature, Phantom users simply need to link their Venmo account to the wallet. Then, they can choose Solana (or other compatible tokens) as the crypto they want to buy and select Venmo as their payment method.
More About Phantom Wallet
Over $5.5 million in liquidity was bridged to Solana in just one day using Phantom Swapper . This powerful tool allows users to easily transfer their crypto assets between different blockchains, making it quicker and more efficient to bring funds into the Solana ecosystem.
We just broke a new daily record 🏆
Over $5.5 million in liquidity was bridged to Solana in a single day using Phantom swapper pic.twitter.com/Xn5JWNQHfD
— Phantom (@phantom) November 7, 2024
The huge influx of liquidity shows growing confidence in Solana’s potential and highlights Phantom Wallet’s role in making cross-chain transactions smoother for users. With this surge in liquidity, Solana’s ecosystem is better positioned for growth, attracting more users and developers to its platform.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
