crypto news for fans with high investment needs. Payment service provider Paypal is increasing the purchase limit for cryptocurrencies from $20,000 to $100,000 per week. Meanwhile, the annual purchase limit is being dropped entirely.
After announcing the introduction of cryptocurrencies in its payment service last year, Paypal continues to show itself crypto-friendly. As the company announced, they have now significantly increased the limits for cryptocurrencies:
“As part of our efforts to meet the ever-changing needs of our customers, we are pleased to announce that we recently increased cryptocurrency purchase limits for eligible Paypal customers in the U.S. to $100,000 per week with no annual purchase limits”
While the weekly limit of USD 20,000 was not that low, the annual limit of USD 50,000 had already been reached by maxing out the weekly limit 2.5 times. With this move, PayPal is thus potentially opening the doors in the crypto world to even more for businesses. PayPal offers to buy Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).
Entry still very low – PayPal expects big growthThe
fact that PayPal is raising the limit still doesn’t change the $1 limit to invest in cryptocurrencies. Since April 2021, PayPal has been working with Coinbase in this area to facilitate the buying process.
So far, the implementation of cryptocurrencies seems to have gone down very well with customers. After the first quarter of 2021, CEO Dan Schulman had already spoken of a “really great result” with regard to the crypto business. Customer demand had significantly exceeded the company’s own expectations.
With payment service providers such as PayPal, Square, Neteller or Skrill, cryptocurrencies seem to be finally establishing themselves. This is important on the path of crypto adoption. To what extent PayPal launches further projects around cryptocurrencies can be waited for with excitement. After all, the growing interest in cryptocurrencies at PayPal is also likely to intensify the work in the background.
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