CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$21,212.00
  • ethereum
    ETH$1,197.02
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Crypto Fund
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » Crypto News » PayPal Raises Limit on Cryptocurrency Purchases to $100K Per Week

    PayPal Raises Limit on Cryptocurrency Purchases to $100K Per Week

    Author: Felix Mollen

    Last Updated Jul 16, 2021 @ 06:35

    PayPal is raising the bar. Now its customers can buy up to $100K in crypto every week with no further limits.

    PayPal’s decision to support operations with cryptocurrencies has brought outstanding results, and a few hours ago, it just hit the gas pedal and increased the limit on cryptocurrency purchases giving its customer more freedom to buy their beloved digital assets.

    According to an Official PR, duly registered customers will now be able to buy up to $100,000 in crypto per week, without any other monthly or yearly limit. The company assured that the move comes in response to the feedback from its clients:

    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 cryptocurrency on our platform.

    In addition, PayPal noted that it had updated its educational material, providing better information about cryptocurrencies, improving the guides, and increasing the number of answers to frequently asked questions.

    PayPal Goes Deeper Down The Rabbit Hole

    The news is simply the latest step in the execution of a corporate strategy that seems to increasingly focus on the world of cryptocurrencies and blockchain technologies.

    Initially, PayPal only allowed cryptocurrency purchases to U.S. nationals under very restricted conditions. But shortly after that, it announced its intention to make its services available globally over time.

    ADVERTISEMENT

    It also allowed merchants to accept cryptocurrencies as a form of payment and receive their fiat equivalent immediately if they wished.

    Likewise, the company assured that it was working on releasing functionality to allow all its customers to withdraw cryptocurrencies to third-party wallets, which was impossible and thus widely criticized.

    And a number of acquisitions and corporate alliances in the field of blockchain-oriented cybersecurity have given PayPal a more relevant role in the cryptocurrency industry.

    The Symbiosis Between PayPal and Crypto

    When PayPal decided to start supporting crypto purchases, the markets reacted with a surprisingly bullish reaction. PayPal’s backing, along with similar moves by other institutions like Square, Tesla, and banks like BNY Mellon, served to propel the price of Bitcoin to record highs that touched $60,000 in April 2021.

    But even after the crash, Paypal has maintained a solid pro-cryptocurrency stance, and the community of crypto enthusiasts has been appreciative. According to a report by Global Data, PayPal became the most mentioned company by influencers, surpassing Mastercard and Coinbase even after its direct listing.

    PayPal witnessed a conversation spike among influencers in March, following the announcement to accept cryptocurrency as a means of payment, by which the U.S. consumers will be able to use their cryptocurrency holdings such as Bitcoin and Ethereum across all its 29 million online merchants globally. Another significant spike was noticed in May following the announcement of US$6.03bn revenue in Q1, up by 31% year-on-year, where the acceptance of crypto platform played a key role.

    And in financial terms, Crypto also catalyzed a round of extraordinary returns for PayPal. Official data reveals that during the first quarter of 2021, PayPal’s revenue reached $285 billion, growing 50%, with 14.5 million Net New Active Accounts.

    Source: PayPal
    Source: PayPal

     

    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

    You Might Also Like:

    • bitcoin_venmo_cover
      PayPal's Venmo Enables Bitcoin and Crypto Purchases for 70M Users
    • wework_crypto_cover
      WeWork to Start Accepting Cryptocurrencies for Payments
    • paypal_cover
      PayPal's Recent Impressive Performance due to Cryptocurrencies, Says CEO
    Tags: Bitcoin Adoption PayPal
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Felix Mollen
    More posts by this author

    Felix got into Bitcoin back in 2014, but his interest quickly expanded to everything blockchain-related. He's particularly excited about real-world applications of blockchain technology. Having worked as a professional content writer for three years before that, Felix transitioned to working on blockchain-centered projects and hasn't looked back ever since.

  • bitcoin
    BTC$21,212.00
  • ethereum
    ETH$1,197.02
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    Over 33% of NFT Volume is Wash Trading: bitsCrunch CEO Interview

    Over 33% of NFT Volume is Wash Trading: bitsCrunch CEO Interview

    What’s Going on With Celsius Network and Why Is It a Huge Risk for Crypto (Opinion)

    What’s Going on With Celsius Network and Why Is It a Huge Risk for Crypto (Opinion)

    Institutions Are Definitely Here: ConsenSys’ Harriet Browning (Interview)

    Institutions Are Definitely Here: ConsenSys’ Harriet Browning (Interview)

    Binance Visa Card Guide: Read Before You Order

    Binance Visa Card Guide: Read Before You Order

    Bitstamp CEO JB Graftieaux: We Are Still Early (Interview)

    Bitstamp CEO JB Graftieaux: We Are Still Early (Interview)

    Okay Bears NFT Collection: The Complete Guide

    Okay Bears NFT Collection: The Complete Guide

    Our Ambition is to Become the Amazon of Crypto: Interview with Coinbase’s Guillaume Chatain

    Our Ambition is to Become the Amazon of Crypto: Interview with Coinbase’s Guillaume Chatain

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!