Ever since Paypal introduced support for cryptocurrencies, people have looked differently at this company. Due to overwhelming demand, the firm is raising purchase limits. It is now possible to buy up to $100,000 in cryptocurrency per week, assuming one is an eligible customer in the US.
An Expected Move By PayPal
Everyone knew that PayPal and cryptocurrency would be a good match. Bitcoin and similar crypto-assets have tremendous mainstream appeal. All they need is a convenient purchase option. Traditional exchanges do not always fit that bill, creating unnecessary friction. With PayPal on board, the process becomes a lot more straightforward. However, users do not own the cryptocurrency they purchase, as they merely obtain price exposure.
Despite that aspect, there is an apparent overwhelming demand for Bitcoin and other crypto-assets through this service. So much so that the company has to raise purchase limits. An intriguing decision, given how this functionality went live less than six months ago. The option to buy cryptocurrency conveniently – in the US – appeals to many people.
As of this week, eligible users can buy up to $100,000 per week in cryptocurrency. A substantial amount as most exchanges don’t offer such limits. Moreover, there is no annual purchase limit, creating a lot of opportunities. In theory, an eligible user can buy