Online payment solution firm PayPal has increased the purchase limit for cryptocurrency on its platform to $100,000 per week.
The company also removed the limit on annual withdrawals.
“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.” A statement on Paypal’s newsroom read.
Paypal started featuring cryptocurrency in October 2020, which in a way contributed to Bitcoin’s bullish run late last year.
The press release further explained that the changes will offer more options and flexibility to consumers.
“These changes will enable our customers to have more choice and flexibility in purchasing cryptocurrency on our platform.” The press release continued.
PayPal also said it is committed to bolstering customers’ education through in-app guides and training materials.
“To help our customers learn more about crypto, we continue to update our in-app guides and educational materials on cryptocurrency, provide answers to commonly asked questions, offer insights into the world of crypto, and help demystify some misconceptions customers may have about crypto.”