These Venmo Cash Back to Cryptocurrency terms and conditions (“Cash Back to Crypto Terms” or “Terms”) are between you and PayPal, Inc. and will be effective as of August 10, 2021. Capitalized terms used but not defined in these Terms shall have the meanings defined in the Venmo Cryptocurrency Terms and Conditions.

Buying and selling crypto assets is inherently risky. See the Venmo Cryptocurrency Terms and Conditions for more information and risk disclosures.

As a Venmo Credit Card Account (“Card Account”) Accountholder, you may be able to elect to automatically purchase cryptocurrency using the cash back rewards earned through your Card Account (“Cash Back”), as set forth below (“Cash Back to Crypto” or the “Program”). Your automatic purchase of cryptocurrency through the Program is also governed by the Venmo Cryptocurrency Terms and Conditions.

When you have automatic Crypto Asset purchases turned on through the Program, you authorize Venmo to use your Cash Back to purchase the Crypto Asset you have selected in your Venmo app automatically upon the Cash Back’s transfer to your Venmo balance. Your Cash Back must be at least $1.00 in order to be used to purchase Crypto Assets. You may manage your preferences for Cash Back to Crypto, including by choosing a new type of Crypto Asset or opting out of the Program, by going to the Rewards section of your Venmo Credit Card section in the Venmo app.

Cash Back is typically transferred to your Venmo balance 1-3 days after the end of each Statement Period, as described in your Card Account Reward Program Terms. Venmo cannot tell you and you will not know exactly when the Cash Back will be transferred to your balance and your selected Crypto Asset purchased with the funds from your balance. Crypto Assets are inherently volatile. You should therefore check the exchange rate for your selected Crypto Asset in the Venmo Cryptocurrencies Hub at the end of each Statement Period and before the automatic purchase occurs.

The exchange rate at the time of the automatic Crypto Asset purchase will be displayed in your Venmo app transaction history and the email receipt for the purchase of Crypto Assets after the Crypto Assets have been purchased.

You may cancel upcoming automatic Crypto Asset purchases by opting out of the Program in the Rewards section of your Venmo Credit Card section in the Venmo app at any time before your next Crypto Asset purchase.

Purchases of Crypto Assets made through Cash Back to Crypto will not be charged Venmo’s standard fee for buying cryptocurrencies. You will be charged a fee when you sell Crypto Assets, even if those Crypto Assets were purchased through Cash Back to Crypto. When you buy Crypto Assets through Venmo’s Cryptocurrencies Hub rather than through the Program, you will also be charged a fee. More information on pricing and fees can be found on the Venmo Fees page.

We make money and charge a spread when you buy and sell Crypto Assets, including purchases made through Cash Back to Crypto. For more details, please see the Venmo Cryptocurrency Terms and Conditions.