PayPal was busy lately doing some changes in its crypto trading services and in these efforts, it has decided to extend the weekly crypto purchase limit to US$ 100,000 per week. Also, the annual crypto purchase limit has been permanently removed for encouraging more crypto sales at the crypto trading platform. Also makes a statement that with the new changes, the customers would be able to feel more flexibility and liberty in acquiring their preferred cryptocurrencies through PayPal’s crypto trading services.
It is usually said when there is competition between two business rivals, then the ultimate benefiter is the end customer. This is exactly what is happening these days within the global crypto space. It wasn’t too long when the electronic payment giant, PayPal, had become part of the crypto universe. As soon as the permission was granted to PayPal, it started rendering crypto trade services initially in the US without wasting any time. The cryptocurrencies made available for trading were Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.
Thereafter, in less than 60 days, PayPal expanded its crypto trading services in the United Kingdom as well. The crypto business of PayPal was booming and revenue collection was skyrocketing.
PayPal’s business rival i.e. Visa then felt that PayPal had taken a lead on it. Visa then too decided that it need to make sure it immediately integrates the crypto payment mechanism. The purpose of crypto integration on the part of Visa was to remain in the contest with its competitor.
Some two days ago, Visa Inc. had announced that it has convinced its business partners to utilize Visa-powered crypto cards. According to Visa, if crypto-powered visa cards are utilized by its partners’ customers, then 700 million Visa-vendors would become accessible to card-holders. This was a huge announcement and definitely was going to change the course of competition in Visa’s favor.
However, PayPal has made a fresh announcement today. In the announcement, PayPal has firstly announced that it has extended its weekly crypto trading limit to US$ 100,000. In the second portion of its announcement, PayPal commented that it has permanently removed the annual limit from crypto trading.
At the end of the announcements, PayPal stated that they want to give the best to its crypto customers. Now the customers would be at liberty to utilize their limit in acquiring their preferred cryptocurrencies with flexibility and liberty.
Before the announcements, there was a crypto trade limit of US$ 20,000 per week applicable to the crypto customers. In addition, there was an annual limit fixed of US$ 50,000 towards crypto purchases. However, the customers wanted an unlimited option to trade and purchase cryptocurrencies. The present change in the crypto trade limit has been done keeping in view the interests of the customers.