Coinbase teams up with Apple Pay, creates crypto payment system

Coinbase, a crypto exchange that is the largest in the United States of America has partnered with Apple Pay to create a crypto payment system. The platform announced it’s teaming up with the digital wallet service that is exclusively used by Apple users.

According to this partnership, Apple Pay users can now buy cryptocurrencies using their account and the payment method that they have chosen. Coinbase focuses on the accounts that are particularly attracted to crypto.

What is Apple Pay?

Apple Pay is a digital payment service platform by Apple Inc. that allows the users of iPhones, iPad, Apple Watch, and Mac to make payment in person using the iOS app or Safari, if using the web.

The platform has gained around 43 million new customers this year so far. Till now, Apple Pay had often avoided cryptocurrency-related services but now that it has accepted the partnership with Coinbase, it is a huge positive for the crypto community.

What changes for Apple users now?

Apple users who used to buy and store cryptocurrencies on Coinbase through different payment methods can now (A) buy using the Apple Pay itself and (B) they can also store digital assets like Bitcoin, Ethereum, Dogecoin, and others on Apple Pay instead of storing them on Coinbase exchange.

Coinbase platform transaction director Prakash Hariramani said that their goal is to make cryptocurrency adoption familiar & mainstream and with this step, purchasing crypto becomes more convenient.

He also said that finding the correct alternative to debit cards can help a long way in achieving this goal and buying crypto with Apple Pay just fits in in the process of achieving their goal.

The crypto purchases with Apple Pay will have a transaction limit of $100,000 each day.

Also read: Coinbase advises investors against showing off their crypto rich portfolio, plans crypto investment for clients post retirement

Next focus : Google Pay

After teaming up with Apple Pay, Coinbase now focuses on another digital payment service giant Google Pay. Among people, who don’t use iPhone or any other Apple device, Google Pay is the most common money exchange platform. Coinbase now wants to focus on a partnership with Google Pay in order to make crypto adoption even more familiar.

For now, cryptocurrency fans can buy their desired crypto assets using Apple Pay while soon enough, they would get the option of buying it through Google Pay as well.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.