Paypal crypto trading service is now available to U.S. consumers


PayPal acquired Venmo for $800 million from Braintree, a start-up company in 2014. Today, rather than a competitor, Venmo is among the most popular services in the PayPal portfolio.

Weekly cryptocurrency purchase limit

On November 2,  Schulman talked about the company’s crypto support efforts during an earnings call. Schulman revealed plans for Venmo support and increased crypto-asset purchasing limits to $10k a week.

On Thursday the company raised the limit again to $20,000. “Due to initial demand from our customers, we’ve also increased our weekly cryptocurrency purchase limit from $10K/week to $20K/week,” the statement said.

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 “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,” the service terms claims. 

The disclaimer has been added that “Buying and selling crypto assets is inherently risky” and crypto assets are “not insured by the Federal Deposit Insurance Corporation (FDIC).”