PayPal raises cryptocurrency limit
One of the major talking points in the cryptocurrency world towards the end of last year was that the payment giant PayPal had integrated cryptocurrency into their platform. For many this provided them with a certain degree of confidence in cryptocurrency usage, knowing that it is being backed by such a reputable payment platform, thereby resulting in an increase to the number of people that were invested in cryptocurrency and that were venturing into various coins.
This is believed to be one of the major driving factors that caused the bull run noted towards the end of last year. However, despite this positive news, there were many that were unhappy with the limits that PayPal had implemented on the purchase of cryptocurrency. Fortunately, a recent news article has revealed that these limits have been raised, with PayPal users in America, now being able to purchase up to 100 thousand dollars of cryptocurrency on a weekly basis. This could drive larger purchase orders, possibly sparking a future bull run in the market. Currently, this is only available for the PayPal users within America, but is believed that it will expand to other regions in due course.
What does this mean to someone who is not in the United States? The talk about paypal integrating cryptocurrency was flouting in the market since 2016 and it became a reality only in 2020. Paypal was once a part of Facebook's cryptocurrency project Libra, but later backed down (Libra has now been re-branded as Diem)
When PayPal first adopted the use of cryptocurrency on it's platform , a lot of PayPal users were happy because of the development,however the service was not available world wide. The current lifting is still for those in UK .
Many people have not been able to use cryptocurrency from their PayPal account and this has made some of them wonder why PayPal will accept cryptocurrency when the service won't be available to all