PayPal, an online financial firm and probably a reputable platform in the payments sector declared its plans to increase cryptocurrency purchase limits for its clients on crypto worth $100K per week.
PayPal is among the institutions that adopted digital coins earlier this year. According to reports, it looks like the firm had a smooth journey in the crypto market. PayPal’s choice to incorporate crypto in its operation brought promising results. Some hours ago, the company increased crypto purchase limits. That move allows its followers the freedom to purchase their favorite coins with no challenges.
According to a PayPal official, loyal and registered clients can now purchase virtual currencies worth $100,000 per week. The best thing is that users will not experience any yearly or monthly limits. Moreover, the financial giant announced that they took the move in response to what clients demanded.
An official PR said their efforts to match the fluctuating customer need, thus removing any obstacles. He further declared that the changes would give users flexibility when accomplishing their crypto undertakings.
Moreover, PayPal announced updating its learning portal. Keep in mind that most crypto platforms have learning materials to equip their customer with the necessary knowledge concerning cryptocurrency. PayPal updated its learning materials for its customer to enjoy detailed info on cryptocurrency. The platform upgraded its FAQ sections and improved the user’s crypto guides.
PayPal Deep Crypto Moves
The news is among the recent financial steps by a firm that seems increasingly interested in blockchain and cryptocurrency technologies.
Initially, the financial company only accepted crypto users from the US and under strict conditions. However, PayPal declared its plans to globalize its services shortly afterward.
Also, PayPal allowed institutions to accept crypto payments.
Moreover, the firm guaranteed its users a feature to withdraw digital coins through third parties, which failed, thus the critics.
PayPal and Crypto – The Symbiotic Relationship
The financial market had a bullish reaction after PayPal announced its decision to support cryptocurrency undertakings. Crypto support by PayPal and other platforms such as banks (BNY Mellon), Tesla, and Square saw BTC recording is the highest price at $60,000 in 2021 April.
Although the crypto market crashed afterward, PayPal maintained its positive outlook on crypto. Global Data reported that PayPal exceeded Coinbase and MasterCard as a platform mentioned the most by influencers.