PayPal has raised its purchase limits for cryptocurrencies to $100,000 per week, up from the $20,000 it initially set.
PayPal began embracing cryptocurrency late last year, and now allows its users to buy, hold and sell crypto. The company is continuing to improve its service in an effort attract more traders.
When it initially started supporting crypto, PayPal placed a $20,000 a week limit on purchases. The company has now raised that to $100,000.
“Since launching our cryptocurrency capabilities in the U.S. in October 2020, we have been actively engaging with our customers to better understand their needs to help ensure we are providing a trusted and secure platform to buy, hold, sell and checkout with cryptocurrency,” writes Jose Fernandez da Ponte, VP & GM, Blockchain, Crypto and Digital Currencies.
“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.”
The increased purchase limit should help PayPal attract a larger part of the crypto trading market.