How to buy Bitcoin with Apple Pay?

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Cryptocurrency exchanges are introducing different ways to buy Bitcoin (BTC) using the Apple Pay payment method. This is a good move for Bitcoin adoption as the Apple Pay digital wallet accounts for over 507 million mobile wallet downloads and a dominant market share of 43.5% in the US mobile payments market.

This ability to now integrate and purchase Bitcoin with Apple Pay opens up new crypto opportunities for iPhone users. This article explains how to buy Bitcoin and other cryptocurrencies using Apple Pay.

What is the Apple Pay digital wallet?

Apple Pay, introduced in 2014, is a mobile payment service for web payments using iOS and is supported by Apple products. It is most commonly used as an Apple Pay app on iPhones and Apple Watches. It allows users to pay for music, movies, and apps with just a tap.

With the introduction of Near Field Communication (NFC) technology, offline stores are now accepting Apple Pay, resulting in an increase in Apple Pay contactless payments. NFC is a proximity-based wireless connectivity technology that uses magnetic fields to enable communication between devices when they are close to each other. Apple Pay is supported by thousands of apps and offline stores worldwide, allowing users to purchase many goods and services, as well as buy Bitcoin with their iPhone and Apple Watch using NFC .

Different Ways to Buy Bitcoin with Apple Pay

Although Apple does not directly have Bitcoin or crypto integration on its devices, many popular apps and platforms facilitate cryptocurrency transactions or transmissions. Here are the different ways to buy Bitcoin with Apple Pay.

Buy Bitcoin with Apple Pay via Coinbase

Coinbase is a US-based crypto trading and investment platform that offers a range of services and allows users to buy, sell, exchange, and store cryptocurrencies. Coinbase has expanded its presence in the cryptocurrency space through partnerships with major giants such as Visa and Mastercard to offer on- and off-ramp crypto trading through instant purchases with credit and debit cards .

To enable a more convenient option for iOS users, in June 2021 Coinbase introduced the purchase of Bitcoin using Apple Pay linked to a debit card. However, crypto selling and cashout options are not yet available with this mode.

Steps to buy Bitcoins with Apple Pay on CoinbaseSign in to Coinbase account on the website or app using a device that supports Apple Pay.Select Bitcoin from the cryptocurrency options.Enter the amount of Bitcoin to buy in the Buy BTC option. Select Apple Pay from the list of available payment methods. Confirm the purchase of Bitcoin using Apple Pay.

It is important to note that Apple Pay will automatically appear as a payment option if a Visa or Mastercard debit card is linked to the underlying Apple Pay digital wallet. If not, make sure you do this before following the steps above.

The limit for buying BTC using Apple Pay on Coinbase depends on the sum of debit card transaction limit and Coinbase limits and also can be changed depending on policy, geographical region and location. One can check these limits in the Coinbase app under Settings ETH), Litecoin (LTC) and Ripples XRP (XRP) can also be purchased using Apple Pay on Coinbase in the same way.

Buy Bitcoin with Apple Pay on Binance

Binance first introduced and started providing Apple Pay integration to purchase cryptocurrency using credit and debit cards only to citizens of the United Kingdom and the European Economic Area (EEA). ). In December 2022, Binance announced Apple Pay (for debit cards only) to deposit USD and buy crypto for US account holders.

This paves the way for not only buying, but also making Bitcoin and crypto investments using Apple Pay on Binance.

Steps to buy Bitcoin with Apple Pay on BinanceSign in to the Binance app on your iOS device.Click on Wallet, select US dollar and deposit USD.Click on Add a payment method and add Apple Pay.Enter the amount in USD and tap Deposit. Add Apple Pay as your chosen payment method. Proceed to purchase BTC or other cryptocurrencies with this deposit.

It’s important to note that Apple Pay for the US will only work for debit card integrations, while for the UK and EEA a credit card is an additional option. Additionally, a 3.75% fee is applied to the deposit amount when using Apple Pay in the US and approximately 2% per transaction in the UK, subject to change as per policy. . Users should be sure to check for fee changes on the exchange they are transacting with.

Buy Bitcoin using Apple Pay on BitPay

BitPay is the largest bitcoin and cryptocurrency payment service provider based in Atlanta, Georgia. It allows businesses, merchants, and institutions to accept cryptocurrency payments and convert them into fiat currencies. BitPay has gained popularity because it charges merchants a flat 1% transaction fee compared to credit cards which are known to charge higher fees ranging from 3% and sometimes more.

BitPay added Apple Pay in 2021 as a payment option to allow its users to buy, trade and purchase with BTC and other cryptocurrencies using the Apple Pay digital wallet. BitPay does not yet allow in-app crypto purchases, but contactless crypto purchases using NFC are possible in-store and online using Apple Pay on supported devices.

In addition to Bitcoin, BitPay also supports popular stablecoins like USD Coin (USDC) and BinanceUSD (BUSD) for Apple Pay purchases. Users must add their BitPay crypto debit card to Apple Pay and can then use Bitcoin to make purchases anywhere Apple Pay is accepted worldwide. BitPay has partnered with Simplex and Wyre to enable these Apple Pay payments.

Steps to Buy Bitcoins with Apple Pay on BitPayLogin to the BitPay app. Load BTC to your BitPay debit card. Add the BitPay card to Apple Pay in the BitPay app. Use the BTC funds from the BitPay card to make purchases with Apple Pay.Buy Bitcoins with Apple Pay with MetaMask

MetaMask, the Ethereum cryptocurrency wallet provider, now also allows users to purchase cryptocurrency through Apple Pay. MetaMask announced Apple Pay support in April 2022. As it is not a direct integration with Apple, MetaMask users are redirected to Wyre, allowing them to make payment by credit/debit card or via Apple Pay. Wyre is a cryptocurrency exchange that offers crypto to fiat via API and integrates with Apple Pay.

MetaMask grants its Apple Pay users a maximum daily deposit limit of $400 to their wallet and charges gas fees as well as its own transaction fee (0.875% of the transaction amount). Moreover, buying crypto through MetaMask allows users to use it in different decentralized applications (DApps) and Web3 services where MetaMask is available. However, in-store contactless purchases are still not available through this method.

Steps to buy Bitcoin using Apple Pay via MetaMask Log in to your MetaMask account on a browser or app. Set up Apple Pay through the app. Make sure you know your customer on the card connected to Apple Pay. Tap Add Funds, click Buy BTC and enter the amount. Select Apple Pay as the payment method. Authenticate and complete the transaction.

Although the above four methods are well known, there are many other wallets, exchanges and platforms where one can enjoy the benefits of buying Bitcoin with Apple Pay, including but not limited to , Exodus, Paxful, CEX.io, Lumi Wallet, Crypto.com and Suite. Users should familiarize themselves with the terms, conditions, fees and the like before selecting their preferred method.

Should you buy crypto with Apple Pay?

There is no straight answer to the question whether or not users should choose to buy Bitcoin and other cryptocurrencies using the Apple Pay method. However, there are both pros and cons to doing so.

Positives include fast, easy, and straightforward transactions. Apple Pays contactless payment method technology makes it a preferred payment method among Millennials and Gen Z users in the United States. Apple Pay statistics claim that its contactless payment method is accepted by 85% of US retailers for fiat payments. This user preference is also reflected in the multitude of crypto platforms, exchanges and wallets that bring contactless Apple Pay integrations.

However, downsides to watch out for include the threat of monetary loss due to scams, hacks, and malware, as well as crypto volatility that can lead to frequent price swings when shopping. Therefore, users should make informed decisions and do thorough research before using various crypto payment methods available in the market.

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