Cryptocurrency exchanges are launching new options to buy Bitcoin BTC using Apple Pay. This is a positive step for Bitcoin adoption because the Apple Pay digital wallet has more than 507 million mobile wallet downloads and a 43.5% market share in the US mobile payments sector.

This ability to connect and purchase Bitcoin with Apple Pay opens up new crypto prospects for iPhone users. This article shows how to use Apple Pay to buy Bitcoin and other cryptocurrencies.

What is Apple Pay digital wallet?

Apple Pay, which was announced in 2014, is a mobile payment solution for web payments that is supported by Apple devices. It is most typically used on iPhones and Apple watches as an Apple Pay application. It enables consumers to pay for music, movies, and applications with a single tap.

Because of the introduction of Near Field Communication (NFC) technology, offline businesses are now accepting Apple Pay, resulting in an increase in Apple Pay contactless purchases.

NFC is a wireless networking technology that uses magnetic fields to facilitate communication between devices that are brought close to each other.

Apple Pay is supported by hundreds of applications and offline businesses across the world, allowing customers to buy a variety of products and services, as well as Bitcoin, with their iPhone or Apple Watch through NFC.

Different ways to buy Bitcoin using Apple Pay

While Apple does not natively support Bitcoin or cryptocurrencies on its devices, numerous popular applications and platforms permit Bitcoin transactions or transfers. Here are the numerous methods for purchasing Bitcoin using Apple Pay.

Buy Bitcoin with Apple Pay on Coinbase

Coinbase is a cryptocurrency trading and investing platform established in the United States that allows users to buy, trade, swap, and store Bitcoins. Coinbase has been increasing its influence in the cryptocurrency industry through agreements with large corporations such as Visa and Mastercard to provide on and off-ramp crypto trading via credit and debit card transactions.

Coinbase announced the purchase of Bitcoin with Apple Pay linked to a debit card in June 2021 to provide a more convenient alternative for iOS consumers. However, this mode does not currently support selling cryptocurrency or cashing out.

Steps to follow:

  • Log in to your Coinbase account through the website or app on a device that supports Apple Pay.
  • Choose Bitcoin from the cryptocurrency options.
  • In the “Buy BTC” option, enter the quantity of Bitcoin to be purchased.
  • Choose Apple Pay from the list of payment options.
  • Use Apple Pay to confirm your Bitcoin purchase.

It is vital to note that if a Visa or Mastercard debit card is linked to the underlying Apple Pay digital wallet, Apple Pay will display it as a payment option immediately. If not, make sure to do so before proceeding with the procedures above.

Buy Bitcoin with Apple Pay on Binance

Binance was the first to announce and begin offering Apple Pay integration for purchasing cryptocurrency with credit and debit cards to nationals of the United Kingdom and the European Economic Area (EEA). Binance launched Apple Pay (for debit cards only) in December 2022 to deposit USD and purchase crypto for US account customers.

This offers up opportunities to not only buy but also invest in Bitcoin and cryptocurrency on Binance using Apple Pay.

Steps to follow:

  • Log in to your iOS device’s Binance app.
  • Click “Wallet,” then “US Dollar,” and deposit USD.
  • Click “Add Payment Method” and then select Apple Pay.
  • Enter the amount in USD and then click “Deposit.” Select Apple Pay as the payment option.
  • With this deposit, proceed to buy BTC or other cryptocurrencies.

It is vital to remember that Apple Pay will only operate for debit card connections in the United States, whilst a credit card is an option in the United Kingdom and the European Economic Area.

In addition, while using Apple Pay in the United States, a 3.75% charge is added to the deposit amount, and about 2% per transaction in the United Kingdom, subject to changes as per policy. Users must keep track of fee adjustments on the exchange with which they interact.