PayPal announces the opening of Crypto services for all U.S Customers
PayPal, the American company who operates as a payment processor for online vendors, announced the official opening of Cryptocurrency services for all eligible US account holders.
In addition, they informed all their customers that they will be able to trade up to $20,000 per week instead of $10,000 as they had initially announced. Crypto lovers will be able to Buy, sell and HODL through a big variety of assets such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash and many more.
PayPal’s main idea was to launch the services with limitations, such as the trading amount of money but soon enough, they realized that due to the high demand and interest in the services, they had to change the purchasing limits to higher numbers ($15,000).
Many Crypto users complained about PayPal’s service terms, as the American company makes it clear, that no one will be able to use the assets in order to “Send, Withdraw or pay for goods and services”, temporarily.
The Chief Executive Officer (CEO) of PayPal, Dan Schulman characterized the shift to support crypto as “inevitable” as Cryptocurrencies and the interest towards them are increasing day by day.
“The shift to digital forms of currencies is inevitable, bringing with it clear advantages in terms of financial inclusion and access; efficiency, speed and resilience of the payments system; and the ability of governments to disburse funds to citizens quickly.”
Another important thing to notice, is that PayPal is aiming to give access to their customers in over 26 million merchants, as the company has one of the largest merchant networks in the world. That is going to happen at the beginning of 2021.
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