Coinbase Consumers Can Now Buy Crypto Using Apple Pay

By Mansi Singh
August 6, 2021 Updated August 6, 2021
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The crypto space giant, Coinbase Global Inc, announced the integration of additional payment methods available to its customers today. Per the announcement, the trading platform now enables iOS users to purchase Bitcoin, Ethereum, Dogecoin or any other supported crypto asset using Apple Pay. According to sources, Coinbase may also release Google Pay integrations very soon.

Furthermore, the exchange has explained that consumers who have MasterCard or Visa debit cards linked to their Apple Pay accounts can instantly sell as much as $100,000 assets per transaction 24/7.

Coinbase Addresses Withdrawal Issues

Coinbase is on track to expand its Apple Pay Services for iPhone users worldwide. While the exchange already enabled consumers with a Coinbase Debit Card to purchase cryptocurrency via Apple Pay since June 2021, the functionality is now extended to all the MasterCard or Visa Debit card holders. Apple Pay support will enable the consumers from registered bank accounts to trade crypto at Coinbase.

The exchange also addressed issues concerning withdrawals. At present, the transactions from Coinbase to bank accounts take five-six days to complete.

The system deploys ‘Automated Clearing House transfers’, i.e. Electronic money transfer between banks, which holds an identity of being too lengthy. However, the new system will deploy Real-Time Payments (RTP), enabling customers to instantly cash out a maximum amount of $100,000 at once, with no limit to the number of cashouts. Although these services remain limited to 20 countries at present. 

Coinbase is not the only one striving to expand its services, the exchange Gemini has already enabled consumers to purchase crypto assets via Apple and Google Pay earlier in April this year. 

Coinbase Roundup: CEO Brian Armstrong Speaks about the Bipartisan Infrastructure Bill

Coinbase launched its IPO and went public back in April 2021. The firm hit a massive $103 Billion valuation during its first day of trading. Notably, today’s average trading volume was reported to be nearly $6 Million.

The exchange has always aimed for growth, and enabling consumers to purchase via Apple Pay is perhaps a new move to expand the customer base and attract more retail investors. Beyond the core of service enhancements, the company’s CEO Brian Armstrong is also a top voice in shaping events in the digital currency ecosystem. In a recent tweet, he opposed the bipartisan infrastructure bill saying that the new bill imposes “unprecedented reporting requirements.”

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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