Buying Bitcoin and other cryptocurrencies has become significantly easier in recent years. The wallet company Coinbase has now added a new function to its iPhone and iPad app that makes it a little easier: For the first time, it is also possible to use Apple’s payment service Apple Pay.
iPhone, iPad and Safari on Mac
The new payment method should appear automatically in the current iOS and iPadOS version as well as on the Mac in the Safari browser – initially it was unclear whether this would be limited to the USA at the start. A debit card must also be stored with Apple Pay, i.e. a form of payment from Visa or Mastercard that withdraws money directly from the account. Pure credit cards don’t work. On the one hand, this is due to Coinbase, where they want to ensure that the money actually arrives at the company, on the other hand, some card-issuing banks do not like buying cryptocurrencies with regular credit cards.
Crypto payment cards already existed
Coinbase had previously introduced a virtual payment card for Apple Pay in the USA. With this you can even withdraw amounts of money directly from the machine in US dollars. This should make it much easier to deal with existing accounts. Google Pay is used for this on Android; this can now also be used to buy cryptocurrencies, as Coinbase also announced.
100k immediately on the account
The company continued to introduce a new quick payout feature in the US. In cooperation with the Automated Clearing House (ACH), which coordinates transfers between US banks, a real-time transfer (Reatl Time Payments, RTP) was introduced. This allows up to 100,000 US dollars per transaction to be transferred “immediately and securely” from your own crypto inventory to a stored account. Otherwise ACH needs up to five days. Exact details of what that costs were initially not given. There should be no limit to transactions per day.