PayPal raised limits on crypto purchases to $100K per year and now customers can buy up every week with no further limits as we can see more in our latest cryptocurrency news today.
PayPal’s decision to support operations with crypto brought huge results and a few hours ago and hit the gas and raised the limit on crypto purchases giving its customer more freedom to purchase their beloved digital assets. According to an Official PR registered customers will be able to buy up to $100,000 in crypto per week without the monthly or yearly limit. The company assured that the move came in response to the feedback from the clients:
“As part of our efforts to meet the ever-changing needs of our customers, we are pleased to announce that we have recently raised the purchase limits of cryptocurrency for eligible PayPal customers in the U.S. to $100,000 per week with no annual purchase limit. These changes will enable our customers to have more choice and flexibility in purchasing cryptocurrency on our platform.”
PayPal noted that it updated its educational material and gave more information about crypto, improving the guides and increasing the number of answers to frequently asked questions. The news is the latest step ahead in the execution of a corporate strategy that seems to be a focus on the crypto space and blockchain technologies. PayPal allowed crypto purchases to the US nationals under the restricted conditions but right after, it announced the intention to make its service available globally over time.
It allowed merchants to accept crypto as a form of payment and receive fiat equivalents if they wish. The company assured that it was working on releasing functionality to allow the customers to withdraw crypto to third-party wallets which were impossible and got plenty of criticism. The number of acquisitions and corporate alliances in the field of blockchain-based cybersecurity gave PayPal a more relevant role in the crypto industry. When PayPal raised limits and decided to start supporting crypto purchases the markets reacted with a bullish reaction.
PayPal’s backing along with other moves by institutions like Tesla, Square, and banks like BNY Mellon served to propel the price of BTC to record highs that hit $60,000 in 2021. Even after the crash, PayPal maintained a solid-pro crypto stance and the community of crypto supporters has been appreciative. According to reports from Global Data, PayPal became the most mentioned company by influencers and even surpassed Coinbase and Mastercard after the direct listing.
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PayPal witnessed a conversation boost among influencers in March, after the announcement to accept crypto as a means of payment by which the US consumers will be able to use their crypto holdings like TEH and BTC on 29 million online merchants globally.
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