Global payment giant PayPal has expanded access to its cryptocurrency trading feature for all eligible U.S. users, simultaneously raising the weekly purchase limit to $20,000. The company plans to roll out global cryptocurrency transactions by early 2021.
Nationwide Availability Officially Live
PayPal's cryptocurrency initiative bridges the gap between digital assets and real-world commerce. Initially available to only 10% of U.S. users, the feature is now accessible to all qualified PayPal account holders, as confirmed in a recent official announcement.
CEO Dan Schulman noted during Q3 earnings:
"User demand has far exceeded expectations, with unserved customers showing 2–3 times the anticipated interest."
Weekly Purchase Limit Increased
PayPal has adjusted its weekly crypto purchase ceiling three times:
- Initial limit: $10,000
- First increase: $15,000
- Current limit: $20,000 (double the original cap)
Schulman emphasized PayPal's commitment to crypto adoption, stating:
"Digital currencies offer undeniable advantages in financial inclusion, payment efficiency, and government disbursement speed."
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Global Expansion Timeline
International users can expect cryptocurrency trading and Venmo-integrated payments to launch globally in early 2021.
FAQ Section
Q1: Can non-U.S. PayPal users access crypto trading?
A1: Currently, only U.S. accounts are eligible. Global availability is slated for early 2021.
Q2: What cryptocurrencies does PayPal support?
A2: PayPal allows trading in Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC).
Q3: Why did PayPal increase the weekly purchase limit?
A3: The adjustment reflects higher-than-expected user demand and transaction volume.
Q4: Are there fees for crypto transactions on PayPal?
A4: Yes, PayPal charges transactional fees—detailed in their fee schedule.
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Risk Disclosure
Cryptocurrency investments carry significant volatility risk. Investors may lose their entire principal. Assess risks carefully before trading.