Last year when many brands were taking the side of crypto and bitcoin that time PayPal also did the same by adding crypto on its platform. Paypal has given the option to buy crypto on PayPal for their platform but earlier there was some limit with the transactions.
Although the crypto market is in bearish sentiments as of now and its is difficult to say if it will revise soon as we can see it dropping continuosuly. This time one thing is different that we have so many strong hands and this is a clear sign that more people believe in crypo in long run and that is something making them hold their assets despite the fact what the market is saying. Even Tesla is not fully negative with crypto and I expect that it will announce something positive all of sudden someday and probably coming 21 July can be the one.
PayPal is upping the amount of cryptocurrency users can purchase by five times. PayPal’s users can now buy $100,000 worth of bitcoin and other digital assets per week, up from a previous limit of $20,000. The company is also scrapping its annual purchase limit of $50,000.
Paypal has started the crypto option in October 2020 and now after the period of almost 9 months they have increased the limit significantly and now their users can buy crypto worth upto 100K USD in a month and there was another annual limit which has been increased.
For sure the earlier limit was small however the current one is pretty good and now people will have more to buy and this will hopefully call more people to enter crypto through PayPal.
Currently, bitcoin is trading at the price mark of 31k USD and which is more than 50% down from what it went its all-time high. I dont have access to PayPal here in India but I buy throuhg SIP every day. There is no surety that when PayPal will enable it for Indian users but if it happens then it will be good for Indian users as well.
Coinbase is making its entry in India and they have also started hiring so hopefully PayPal might announce about it someday for India.
Thank you so much