As PayPal confirms earlier that it will allow its U.S. users to Buy, Sell and Hold cryptocurrencies within 2-3 weeks. So from today, PayPal enables its U.S. users to Buy, Sell and Hold cryptocurrencies via its web and application.
PayPal official statement reads as, “We are pleased to announce that starting today, all of our eligible US customers can now buy, hold and sell Cryptocurrency directly from their PayPal accounts. We’ve also increased our weekly purchase limit to $20K.”
Earlier the weekly purchase limit set for cryptocurrency on PayPal was $10,000 which was increased to $15,000. But today PayPal announces that it has now increased the weekly purchase limit to $20,000.
As of now all eligible users can only Buy and Sell crypto assets. According to the PayPal terms and conditions page reads that “you currently are NOT able to send Crypto Assets to family or friends, use Crypto Assets to pay for goods or services, or withdraw Crypto Assets from your Cryptocurrencies Hub to an external cryptocurrency wallet.”
Currently, only 4 cryptocurrencies are available on PayPal and they are Bitcoin, Ethereum, Litecoin and Bitcoin Cash.
Many people around the world think that Bitcoin can go mainstream with PayPal integration. As PayPal has around 26 million merchants connected to its network so its a good sign for Bitcoin