Bitcoin just became more accessible than ever before….
Coinbase has reportedly just integrated Apple Pay support into its platform, so users can now use the popular mobile payment network to purchase crypto.
I know how difficult purchasing crypto is to the newly minted crypto investor, and this Apple Pay support coupled with the intuitive UI in Coinbase definitely streamlines the process considerably.
For those of us already invested, the added convenience is no doubt nice, but the accessibility and implied user adoption prospects for cryptocurrency are where this development is truly meaningful.
People are praising the recent move:
Buying #Bitcoin just got easier! 🙌
You can sync your ApplePay wallet to Coinbase using any Visa or MasterCard debit card.
— Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) August 5, 2021
— Token Metrics (@tokenmetricsinc) August 6, 2021
A summary of the recent integration was provided by Coin Telegraph:
“Today, we’re introducing new and seamless ways to enable crypto buys with linked debit cards to Apple Pay and Google Pay, and instant cashouts up to $100,000 per transaction available 24/7,” said a Coinbase blog post on Thursday.
“If you already have a Visa or Mastercard debit card linked in your Apple Wallet, Apple Pay will automatically appear as a payment method when you’re buying crypto with Coinbase on an Apple Pay-supported iOS device or Safari web browser,” the Coinbase blog post mentioned.
Coinbase expects to enable Google Pay functionality “later this fall.”
Coinbase is enabling crypto buys with linked debit cards to Apple Pay and Google Pay
Are you ready? 🚀
— LilMoonLambo (@LilMoonLambo) August 6, 2021
Bitcoin rose and Coinbase enabled crypto purchases using Apple Pay and Google Pay with linked debit cards. pic.twitter.com/teME8zhsGq
— D.A. Market Securities (@itradeph) August 5, 2021
Business Insider added:
Until now, many Coinbase customers used the automated clearing-house system ordinarily used by banks and other financial institutions, it said. That network processes transactions much slower and can take up to five days to settle.
Gemini, the New York-based crypto exchange owned by the billionaire Winklevoss twins, made a similar move in April, a sign of appetite for a variety of payment methods to access crypto.
Apple Pay is the top mobile-payment service in the US, counting about 44 million users in 2021, according to data from analyst firm eMarketer. Starbucks, Google Pay, and Samsung Pay are close competitors.
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