According to the latest news on cryptocurrencies, major payment operator, PayPal, has risen the limits for transactions in crypto to USD100 000. The changes apply to US customers.
As of July 15, PayPal users from the United States can spend up to $100k in cryptocurrency per week with the annual spending limit removed.
PayPal rises limits to make crypto payments more flexible
The company representative has commented on the matter, stating that the change in payment limits will give more freedom in purchases for those customers who prefer crypto.
Compared to the previous weekly limitation, allowed crypto payments have increased by five times. Up until now, the US customers were able to spend $20 000 a week. The maximum amount of crypto spent per purchase was also $20 000, whilst the annual limit was set at $50 000.
PayPal has introduced crypto payments for online purchases in March of this year. The “Check out with crypto” feature allows customers to use digital currency to buy products from 29 million merchants that collaborate with the payment platform.
Earlier this spring, the company has announced a cryptocurrency withdrawal feature, which has not been implemented yet.
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