Paypal Holdings recently announced that they will be increasing their cryptocurrency purchase limits for eligible customers in the US. The new limit is $100,000 every week without any annual purchase limit. They have made this strategic move as part of their efforts to satisfy the customers’ ever-changing needs.
It is clear that the industry has been experiencing a shift towards digital representations of value and digital payments. This rapid shift is driven by the pandemic and increased interest of consumers and central banks in digital currencies. However, because of its limited utility as an exchange instrument and its cost, volatility and speed to transact, the mainstream adoption of cryptocurrencies is still hindered. But, the hope for advanced technological platforms provides the possibility of making the digital currencies mainstream.
Since the firm launched its cryptocurrency capabilities in the United States in October 2020, PayPal has been engaging with its customers to get a better understanding of their needs. This way, they can ensure that they are providing them with a secure and trusted platform for holding, buying, checking out, and selling cryptocurrency.
In order to ensure that their customers learn about crypto, they update their educational materials and in-app guides on cryptocurrency regularly. They also offer answers to the most commonly asked questions, help demystify misconceptions customers might have about crypto, and offer insights into this new world of digital currency.
PayPal is an American company that was established in 1998. Today, it is operating a global online payment system supporting online money transfers. It is also an electronic alternative to paper methods like money orders and checks.