Paypal increase its weekly limit to buy crypto to $100,000

The amount of crypto-currency is expanding, and customers may buy up to $100,000 each week. Furthermore, as part of its ongoing push towards digital currencies, the $50,000 yearly cap was also completely cut.

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By taking up crypto-currency trading, Fintech distinguished itself from traditional banks. For some of the industry's largest brands, the expansion was a success. Take PayPal, for instance. In November the business started to provide US customers with the opportunity, in the footsteps of Square's Cash App, to buy, store and exchange Bitcoin, LiteCoin, Ethereum and Bitcoin cash.

"These improvements will provide our users greater choice and flexibility to acquire cryptocurrencies on our platform," Jose Fernandez da Ponte, Vice President of PayPal Blockchain, crypto and digital currencies, stated.

The major money transfers entered the crypto water in October2020 and offered some new services gradually. In March, the company announced its Bitcoin Checkout Service after criticism that it only permits users to purchase and hold bitcoin.

The decision was then viewed as a major move to introduce digital assets to mainstream customers and encouraged the recent rise of Bitcoin. PayPal is not the only business with a growing need for bitcoin support for customers. Visa supports debit cards issued by the coin base and cryptocurrency services provider of bitcoin exchange services.

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