The popular online payment firm PayPal has officially rolled out its full cryptocurrency services as the company has now allowed its account holders in the United States to start trading with Bitcoin through its app.
In an update on its previous October 21 announcement, the payment giant has said to remove the waiting list for cryptocurrency services while enabling all of the eligible users residing in the United States to purchase, sell, and store Bitcoin (BTC) now. Only those users are eligible for cryptocurrency purchasing who have an account with PayPal.
On the 2nd of November during the company’s earnings call, PayPal’s Chief Executive Officer (CEO) Daniel Schulman revealed in a statement that the firm has provided services to only 10 percent of its users in the United States while it put the remaining customers on a waiting list. It said that the rest of the US customers will access cryptocurrency services within the duration of the next two to three weeks. And now, the company has lifted up this waitlist for users while providing them access to its digital currency services. PayPal’s cryptocurrency trading service now has officially gone live in the United States.
At that time, PayPal also increased its cryptocurrency purchasing limit from $10,000 to $15,000 per week for users. This increase in limit came two weeks after the company announced the launch of a service for enabling cryptocurrency trading for users on the 21st of October. It said to add trading support for the top-ranked digital currency Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), and Litecoin (LTC).
A spokesman from PayPal Aaron Gould has revealed in a statement that the company has once again raised its weekly crypto buying limit from $10,000 to $20,000 per week. Gould said that the firm has increased this limit after witnessing demand from its customers. Adding more to it, Gould confirmed that the cryptocurrency services will be brought to international users in the H1 of the next year as per the schedule.
Since the announcement of PayPal on October 21, the world’s largest digital currency Bitcoin has shown satisfying performance and has surged above $16,000 where it is currently trading. Reportedly, Bitcoin has recorded a price rally of more than thirty percent since the day of the announcement of PayPal.