Online payment services company PayPal announced late yesterday that it has increased the amount of cryptocurrency that US customers can purchase through its platform to $100,000 per week.
Buying was previously limited to $20,000 per week.
The annual limit has also been raised.
The press release stated the following:
These changes will enable customers to have more choice and flexibility in purchasing cryptocurrencies on our platform.
Currently, USA clients can buy, sell or hold Bitcoin, Bitcoin Cash, Ethereum or Litecoin on the platform.
These users can also make use of digital currencies to make payments for goods and services.
The money transfer company PayPal moved into the crypto arena in October 2020, and since then it has been slowly introducing and introducing new features for its users.
In March, PayPal, which has been criticized for allowing customers only to buy and hold cryptocurrency, announced a “Crypto Checkout With Crypto” service.
This feature allows people to use their cryptocurrency and pay for goods with it, with PayPal converting cryptocurrencies into cash before they reach the seller.
In May, PayPal announced that it would soon begin allowing customers who had purchased bitcoin with it to transfer them to external wallets.