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PayPal, the US-based payments giant, yesterday announced that the company has increased its weekly cryptocurrency purchase limits in the US for eligible customers. PayPal clients can now purchase up to $100,000 worth of cryptocurrency assets.

According to an official press release from PayPal, there will be no annual purchase limit on cryptocurrencies. The financial services provider aims to facilitate its clients in the buying process of cryptocurrency assets on its platform.

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PayPal is a California-based online payments platform. In 2020, the company announced support for cryptocurrency assets and enabled crypto transactions. Since the start of 2021, PayPal’s crypto volume has surged significantly due to a substantial rise in demand for digital currencies.

Commenting on the latest increased crypto purchase limit, Jose Fernandez da Ponte, VP & GM, Blockchain, Crypto and Digital Currencies at PayPal, said: “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.”

Complaint: PayPal buyer protection is CRAP. RobAntUSA on 20 May 2021 about in category Payment Providers. Coin Master Yesterday at 2:06 AM Take a close look vikings because ONE of these items doesn’t belong. To this village! 𝙏𝙚𝙡𝙡 𝙪𝙨 𝙬𝙝𝙞𝙘𝙝 𝙤𝙣𝙚 𝙞𝙩 𝙞𝙨 𝙛𝙤𝙧 𝙖 𝙘𝙝𝙖𝙣𝙘𝙚 𝙩𝙤 𝙬𝙞𝙣 600 𝙨𝙥𝙞𝙣𝙨 𝙖𝙣𝙙 1.5 𝘽𝙞𝙡𝙡𝙞𝙤𝙣. Turn coins into cash, NO FEE gift cards, or donations at Coinstar. Find a kiosk location in a grocery store near you. Paypal now lets you buy and sell cryptocurrencies, like Bitcoin and Ethereum. A lot of people are excited about it, and some have speculated that this is why the price of bitcoin has gone up.

“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 crypto on our platform,” Ponte added.

Cryptocurrency Demand

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During a recent interview with TIME Magazine, PayPal CEO Dan Schulman said that the demand for cryptocurrency assets surpassed the company’s expectations. Schulman also predicted a significant decline in the use of cash and mentioned that Bitcoin and other digital currencies can take advantage of the situation.

In its latest quarterly report, PayPal reported a payment volume of $285 billion. The company also added nearly 14.5 million net new active accounts during the first three months of 2021.

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