bitcoin purchasing limits

John Lamborn asked 4 months ago

We are trying to buy a block of bitcoin.  The wallet says our limit is $200.00 per week.  We purchased $2500 two weeks in a row.  Why is there a limit if we have cash in the bank?

1 Answers
Steven Hay answered 4 months ago

Hi John,
I think by wallet you probably mean exchange? Bitcoin software and hardware wallets don’t have limits but many exchanges do, as they must comply with regulations, etc. If you’re purchasing more than your exchange’s stated limit, watch out – they might freeze your account.