Both Cash app and Venmo are used to send and receive money. However, Cash app users are also capable of selling and buying stocks and bitcoins. Cash app offers a more versatile money transaction platform whereas Venmo is known for also having a social platform.
Cash app vs Venmo market share
If you are comparing Cash app vs Venmo, then one must know both apps are used for sending, and receiving money.
Out of the total products purchased by customers, the number of products bought for a certain company is the market share of that company. The projected total Venmo revenue in 2020 is $450 million. Venmo is valued at $38 billion. Cash app’s net revenue in 2020 stood at $3.03 billion. Market share of both Venmo & Cash app stands at <0.01%.
Also Read:- Square Cash App Vs Zelle App
Venmo vs cash app number of users
Venmo is used by almost a total 52 million users and Cash app on the other hand, is used by almost 30 million users.
Almost 7.5 million users use Cash app daily. Almost 14% Americans use Venmo for transactions. It is found, Venmo has 7 million users ranging in the age group of 18-34 years.
Is cash app or Venmo safe?
When comparing safety between Venmo vs Cash app, it can be stated both provide quite strong encryption of data.
Cash app encryptions are present on both public and private Wi-fi connections and even in data services like 3G, 4G and EDGE.
Each time users sign up to Cash app, they would receive a verification code through email or in mobile. With Cash app there is also a facility to set a PIN or Touch ID.
With Venmo too, users can set an additional layer of security by setting up a proper PIN code.
Venmo does not offer buyer protection so if users have received a counterfeited product or have not at all received their ordered products there is no way to claim it using Venmo.
Are cash APP and Venmo connected?
Venmo is by PayPal and Cash app is brought forth by Square Inc.
Ideally both are competitors and work separately. You cannot even transfer money from your Venmo app to another user who has an account with Cash app and vice versa. On the contrary, if a user has accounts with both Venmo and Cash app, neither of these companies hold any rules regarding transactions between Venmo and Cash app as being not possible. So, if the user can find out how one can either use the Venmo or the Cash app account as a bank easily for the other app.