In October last year, PayPal introduced a new functionality that allowed its users to buy, sell, and hold cryptocurrency directly from their PayPal accounts. Since then, the company has been trying to give their users the best experience in cryptocurrency activities.
Yesterday, PayPal announced to have increased the purchase limit of cryptocurrencies to $100k, unlike the previous $20k limit per week.
As stated in the release, this upgrade in purchase limit is for the “eligible PayPal customers in the United States”.
According to them, this will help PayPal customers to “have more choice and flexibility” in acquiring cryptocurrencies.
With the new update, PayPal has started to increase the knowledge of its general users regarding cryptocurrency. Thus, they are now putting up cryptocurrency educational guides and answering questions that some users may have concerning it.
On this note, some PayPal users have shown their pleasure in the buying limit increase; claiming it will allow them to buy way more than they could without any systemic hindrances.
Be that as it may, some of their non-US customers were demanding the possibility of the same privilege in their respective countries as well.