By James Davis
Several crypto exchanges have recently introduced new payment methods for buying Bitcoin, such as Apple Pay. With over 200 million people using this method to transact, it could be a big boost for the ongoing Bitcoin mass adoption campaign. This article seeks to explain how iPhone users can buy BTC along with other digital assets using Apple Pay.
What’s Apple Pay Digital Wallet?
Tech giant Apple launched Apple Pay in 2014, allowing users of its products to pay for movies, apps, and music with a single simple touch. Many offline stores and thousands of apps now support Apple Pay, letting their customers buy a variety of products and services alongside cryptocurrencies.
Ways to Purchase BTC With Apple Pay
It is worth highlighting that Apple devices don’t have a crypto integration at the moment. But still, various platforms are able to facilitate crypto transactions through Apple Pay. Here is how you can buy BTC using the Apple payment method.
Buy BTC With Apple Pay Through Coinbase
Coinbase is undoubtedly the largest crypto exchange in the United States. The company has expanded its presence in the crypto space by partnering with major payment processors like Mastercard and Visa to offer instant purchases of digital assets using debit and credit cards.
In June 2021, the American-based exchange began allowing iPhone users to use Apple Pay to make crypto purchases by linking it to a debit card.
Steps to Purchase Bitcoin With Apple Pay on Coinbase:
Step 1: By using a device that supports Apple Pay, login into your Coinbase account
Step 2: Select BTC in the crypto options.
Step 3: In the ‘Buy BTC’ option, enter the Bitcoin amount you wish to purchase.
Step 4: Pick Apple Pay as your preferred payment method.
Step 5: Confirm BTC Purchase.
Note that if your Apple Pay digital wallet is already linked to a Mastercard or Visa debit card, it will automatically appear as the payment option. In Case it does not show, ensure you connect the wallet to your debit card before you can proceed to make a BTC purchase.
Additionally, the amount of BTC you can purchase is based on the transaction limit imposed on your debit card.
Other cryptocurrencies you can purchase on Coinbase following similar steps include XRP and Litecoin.
Buy BTC Using Apple Pay on Binance
Initially, the world’s biggest crypto exchange Binance only allowed British citizens to link their debit cards with Apple cards in order to purchase BTC. However, the company announced it would also support the same payment method for American citizens last December.
Steps to Purchase BTC With Apple Pay on Binance:
Step 1: Use an iOS device to log in to your Binance account
Step 2: Click ‘Wallet,’ then select USD
Step 3: Click ‘Add Payment Method,’ then pick Apple Pay.
Step 4: Enter the USD amount you want to deposit and click ‘Deposit.’
Step 5: You can now use the deposit to buy BTC.
Purchase BTC Using Apple Pay on BitPay
BitPay is one the biggest crypto payment service providers, allowing merchants, institutions, and businesses to accept crypto payments and exchange them for fiat currencies. The Atlanta-based company has gained significant popularity due to its cheap transaction charges. BitPay charges a flat fee of 1% compared to credit cards that impose 3% or more.
BitPay started facilitating crypto purchases with Apple Pay back in 2021 after partnering with Wyre and Simplex. Users are required to link their BitPay crypto debit cards with Apple Pay to make such purchases.
Steps to Using Your BTC to Make Purchases With Apple Pay on BitPay:
Step 1: Log in to your BitPay Account
Step 2:Load some BTC on the BitPay debit Card.
Step 3: Still on the BitPay platform, link the BitPay card with Apple Pay.
Step 4: After that, you can now use your BTC balance to make purchases with Apple Pay.
Should You Consider Buying BTC With Apple Pay?
It is important to note that Apple Pay comes with its own highlights and lowlights. The upside is that it facilitates quick transactions, and the downside is that, just like any other digital wallet, your funds are vulnerable to online attacks. That being said, it’s advisable to do your due diligence before selecting any payment method.