One of the most popular cryptocurrency exchange platforms Coinbase, very recently announced that traders can now use Apple Pay to purchase crypto assets on the Coinbase platform. Coinbase has 56 million verified users listed.
The official Coinbase blog post announced, “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. 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.”
In June this year, Coinbase debit cards gained Apple Pay support. This card automatically converts the cryptocurrency that the user intends on using to USD.
“Fast, familiar, and secure ways to move money in and out of Coinbase are key to bringing more people into the crypto-economy for the first time. 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 Prakash Hariramani, senior director of payments and financial hub at Coinbase.
Apple Pay has almost 43.9 million users in 2021 which makes it one of the most famous mobile payment options. Coinbase also announced that in addition to Apple Pay, users will also be able to buy crypto assets on its platform using Google Pay which is used in at least 40 countries around the globe.
Coinbase also offers Real-Time Payments or RTPs, which allows users in the US with linked bank accounts to instantly cash out up to $100,000 per transaction. Coinbase also announced that apart from Apple Pay, it also accepts payments from Visa and Mastercard debit and credit cards.