With the continuous high demands on cryptocurrency by PayPal users, the giant payment service has increased its users’ purchase limit from $20,000 to $100,000 weekly, with no annual purchase limit. PayPal is stretching all the possibilities to give its users access to more options when it comes to buying cryptocurrency. The payment service has also added an introduction to crypto and FAQs about Bitcoins to their platform.

Besides purchasing Bitcoins, the US-based PayPal users can also spend their crypto assets through their PayPal accounts. They can also use PayPal’s Venmo mobile payment app to purchase BTC, LTC and other cryptocurrencies.

PayPal is widely known for its secured features and user-friendly convenience. Its attempt to join the crypto space is a major scenario to watch out for. Along with its 392 million users, it can only be expected that a lot of loyal PayPal users will now trust and accept cryptocurrency. PayPal also offers the convenience of spending your cryptocurrency directly in the platform.

At the moment, it is not possible to cash out your crypto via Paypal, and paying merchants using your crypto is subject to capital gains tax. It’s still best to be wary of all the terms and conditions in every situation, and to choose what will benefit you more.