US-based bitcoin exchange Trucoin has increased its customer's daily purchase power to an "unprecedented" $1,000.
Trucoin’s announcement comes at a time of rife competition as companies selling bitcoin in the US try to capture the market.
Circle, a competitor in the space, has a weekly limit of $2,500, which can vary depending on the amount that is purchased. Purchases made with credit cards, though, are capped at $500 a week.
Coinbase, which recently launched its own exchange, currently only accepts Visa payments. The company sets a limit of $1,000 a week for accounts that purchase up to $50,000. Those who purchase up to $3,000 are subject to a $100 weekly limit.
Brent James, Trucoin's executive vice president, said:
“To our knowledge, we are the only company that has been able to successfully allow consumers to buy this much bitcoin with a debit or credit card.”
Additionally, the exchange recently expanded its coverage to include California, Pennsylvania, Missouri, Utah, Nevada and Delaware, bringing its total to 32 states.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.