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Here is how to use Apple Pay for purchasing cryptocurrency
In recent months, there has been a notable surge in the value of Bitcoin (BTC) that appears to have affected the whole digital asset market. Indeed, we explain how to purchase cryptocurrency using Apple Pay as interest in the approval of a Spot Bitcoin ETF approaches a fever pitch.
Apple Pay has been used by over 45 million people in the US alone. The widespread use of Apple goods has propelled it to become one of the most widely used payment methods. Consequently, if you're looking to invest in the expanding digital asset market, this may be a good choice.
So, let's learn more about Apple Pay and whether it's feasible to use it to purchase Bitcoin and other digital assets.
Apple Pay and Its Digital Wallet
Before delving into the service's Bitcoin purchasing capabilities, let's first discuss Apple Pay and its digital wallet. Indeed, Apple Pay is a mobile payment service that was introduced in 2014. Furthermore, the service is supported by Apple's iOS operating system and is built into Apple phones, watches, and other goods.
With the rising popularity of contactless payments, Apple Pay's usage has increased. The usage of Near Field Communication (NFC) in particular has propelled the technology forward. The inclusion of additional retailers accepting contactless payments accelerated the service's mainstreaming.
The payment service is available in a variety of places around the country, both in person and online. Furthermore, the combination of the service's popularity and contactless accepting sites expanded what you could buy with your Apple Pay account.
However, given the growing popularity of digital assets, understanding if you can buy Bitcoin or cryptocurrency using Apple Wallet is critical. So, let's look at how you may become involved with these blockchain-based currencies. Specifically, by using your Apple Pay services.
Purchasing Cryptocurrency using Apple Pay via an Exchange
When it comes to purchasing cryptocurrency using Apple Pay, there are a few options. To begin, cryptocurrency exchanges are a popular alternative. This covers firms like Binance and Coinbase. The crypto exchange situated in the United States provides a variety of services that allow customers to buy, sell, and trade various digital assets.
Furthermore, corporations like Mastercard and Visa have ties with the exchange. As a result of these payment methods, trade has gotten easier. Furthermore, Coinbase added the option to purchase Bitcoin using an Apple Pay account in 2021. However, this is only feasible with a connected debit card, and the user cannot sell or pay out the digital assets.
Although bitcoin exchanges are the best places to acquire cryptocurrency using Apple Pay, there are other options. Entities such as BitPay and MetaMAsk, in particular, are suitable options for using the services.
BitPay is a well-known cryptocurrency payment service provider. Furthermore, in 2021, it will include Apple Pay as its payment alternative. Furthermore, MetaMask, an Ethereum-based digital asset wallet service, supports crypto purchases using Apple Pay. The system was introduced to its services in 2022. Users will be referred to Wyre because it is not directly integrated with Apple. They may then use Apple Pay to make a payment.
Overall, there are several methods to utilise Apple Pay to acquire cryptocurrency. Furthermore, you may evaluate these various services and choose which is ideal for you and your transactional needs.