How to Buy Bitcoin with Apple Pay – The Complete Beginner’s Guide

Several cryptocurrency exchanges have recently launched new payment methods for buying Bitcoin, such as Apple Pay. More than 200 million people transact using this method, which could give a huge boost to the ongoing Bitcoin mass adoption campaign. This article aims to explain how iPhone users can use Apple Pay to purchase Bitcoin and other Crypto assets.

What is the Apple Pay Crypto wallet?

Tech giant Apple launched Apple Pay in 2014, allowing users of its products to pay for movies, apps and music with a single tap. Many offline stores and thousands of apps now support Apple Pay, allowing their customers to purchase various products and services as well as cryptocurrencies.

How to buy BTC with Apple Pay

It’s worth emphasizing that Apple devices currently don’t have cryptocurrency integration. However, various platforms are still able to facilitate cryptocurrency transactions through Apple Pay. Here’s how to buy BTC with Apple Pay.

Buy BTC with Apple Pay via Coinbase

Coinbase is undoubtedly the largest cryptocurrency exchange in the United States. The company has expanded its presence in the cryptocurrency space by partnering with major payment processors such as Mastercard and Visa to offer instant purchases of Crypto assets using debit and credit cards.

In June 2021, the US-based exchange began allowing iPhone users to use Apple Pay to make crypto purchases by linking Apple Pay to a debit card.

Steps to buy Bitcoin with Apple Pay on Coinbase:

Step 1: Log into your Coinbase account with an Apple Pay enabled device

Step 2: Select BTC in the cryptocurrency option.

Step 3: In the “Buy BTC” option, enter the amount of Bitcoin you want to buy.

Step 4: Select Apple Pay as your preferred payment method.

Step 5: Confirm BTC purchase.

Note that if your Apple Pay Crypto wallet is linked to a Mastercard or Visa debit card, it will automatically appear as a payment option. If it doesn’t show up, make sure you connect your wallet to your debit card before proceeding to buy BTC.

Also, the amount of BTC you can buy depends on the transaction limit on your debit card.

Other cryptocurrencies you can buy on Coinbase following similar steps include Ripple and Litecoin.

Buy BTC with Apple Pay on Binance

Initially, Binance, the world’s largest cryptocurrency exchange, only allowed UK citizens to link their debit cards with Apple Cards to buy BTC. However, the company announced in December that it would also support US citizens using the same payment method.

Steps to buy BTC with Apple Pay on Binance:

Step 1: Log in to your Binance account using an iOS device

Step 2: Click on “Wallet” and select USD

Step 3: Tap “Add Payment Method” and select Apple Pay.

Step 4: Enter the USD amount you want to deposit and click “Deposit”.

Step 5: You can now use your deposit to buy BTC.

Buy BTC with Apple Pay on BitPay

BitPay is one of the largest cryptocurrency payment service providers, allowing merchants, institutions, and businesses to accept cryptocurrency payments and exchange them for fiat currencies. The Atlanta-based company is popular for its low transaction fees. BitPay charges a flat fee of 1% compared to credit cards that charge 3% or more.

After partnering with Wyre and Simplex, BitPay will start using Apple Pay to facilitate cryptocurrency purchases in 2021. Users will need to link their BitPay cryptocurrency debit card with Apple Pay to make such purchases.

Steps to make a purchase with Apple Pay on BitPay using BTC:

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 through Apple Pay.

Should you consider buying BTC with Apple Pay?

It should be noted that Apple Pay has its own advantages and disadvantages. The upside is that it facilitates quick transactions, while the downside is that, like any other Crypto wallet, your funds are vulnerable to online attacks. Having said that, it is recommended that you do your due diligence before choosing any payment method.

Information source: compiled from HERALDSHEETS by 0x information.The copyright belongs to the author James Davis, and shall not be reproduced without permission

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