PayPal has recently stated that they have increased the weekly crypto purchasing limit to $100k. In addition, the payments giant has also stated to have removed its annual limit on cryptocurrencies.
Previously, you can only buy cryptocurrencies worth $20,000 per week. Now, you can buy up to $100,000 each week. However, the supported cryptocurrencies are still the same: Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
The company stated:
“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.“
It looks like PayPal sees some great results from its new incorporation. In April, the company’s CEO, Dan Schulman, said that the demand for cryptocurrencies on its platform was much more than initially expected.
PayPal has been aggressively pushing its ‘crypto-friendly credentials. The payments giant had introduced a crypto checkout service in March. The company had also acquired a crypto security startup for $200 million. Recently, the incorporation of Venmo allows it to offer users buying/selling of cryptocurrencies. In May, PayPal also announced that it would allow withdrawals to third-party wallets.