Paypal It was announced today that it will drop the waiting list for buying, holding and selling cryptocurrencies in the United States. This move enables all customers in the United States to purchase cryptocurrency directly in their PayPal accounts. The company said that in the next few days, US customers will also receive alerts about new features via email and push notifications.
This feature has been partially available in the United States before today, but PayPal has already attracted interested customers through a waitlist. With this update, users will no longer need to wait for a location to open.
In addition, PayPal stated that it has increased the weekly cryptocurrency purchase limit from $1
In October, PayPal first announced its plan to enter the cryptocurrency market in a partnership with cryptocurrency company Paxos.The partner helps to support PayPal’s new service, enabling its customers to buy, sell and hold a range of cryptocurrencies-initially including Bitcoin, Ethereum, Bitcoin Cash and Litecoin.
The company said that by next year, PayPal plans to allow users to also use cryptocurrency for PayPal purchases.
In terms of exchange rate, PayPal will charge $0.50 USD for transactions not exceeding $24.99 USD and 2.3% for transactions from $25 to $100 USD; transactions from $100.01 to $200 USD will be charged 2%; Between $200.01 and $1,000 USD, it is $1.8%; transactions over $1,000 USD are charged a 1.5% fee.
PayPal points out that there are no fees for holding cryptocurrency in your account. Moreover, in order to start work, PayPal will waive fees until 2021.
The company quietly disclosed the news today through an update of last month’s press release. It said users can download the PayPal app or log in to their PayPal account to learn more.