Payments giant Paypal has increased its weekly purchase limit for cryptocurrencies and has removed the annual limit altogether. The company said, “These changes will enable our customers to have more choice and flexibility in purchasing cryptocurrency on our platform.”
Paypal Increases Buy Limit for Cryptocurrencies
Paypal Inc. announced Thursday that it has increased purchase limits for cryptocurrencies. The company explained that since the U.S. launch of Paypal Crypto in October 2020, it has been actively engaging with customers “to better understand their needs,” with the aim to provide “a trusted and secure platform to buy, hold, sell and checkout with cryptocurrency.”
The payments giant detailed:
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.
This is a five-fold increase from the previous weekly limit