Apple Pay is a mobile payment service that allows you to make online payments easily and quickly via your iPhone, iPad, Apple Watch or Mac. Since 2022 it has also been possible to pay for online purchases with this. Nowadays, many web shops, online casinos and other companies accept this payment method.
But is it possible to invest in cryptocurrency with Apple Pay? In other words, can you purchase crypto coins such as Bitcoin or Ethereum using this payment method? Let’s go over the options.
Why purchase crypto with Apple Pay?
Why on earth would you want to purchase crypto with Apple Pay? There are some good reasons for this. To start with, Apple Pay is a very user-friendly payment method that allows you to complete a transaction with one click. It is also very safe, because Apple uses advanced security technologies to protect your payments. Finally, you should also not share credit card or banking information with crypto exchanges or websites where you would buy crypto.
Sounds good, right?
Purchasing crypto on the other hand also comes with a lot of advantages. It is a reasonably inflation-resistant and potentially extremely profitable investment. As Joren Verdoes from Bitcoin Magazine says, you can invest in certain coins make a lot of profit. You must take into account the fact that crypto is still a speculative and volatile form of investing. The entire sector is still fairly unregulated, and although you can go to reliable exchanges to buy crypto safely, there are also some bad apples in the basket that you should stay away from.
Apple Pay is ideally suited for investing in crypto because it is an extremely secure payment method that introduces an extra layer of security between you and the crypto seller. This means that your financial and personal information is safe, even if you end up with a malicious party.
Okay, and now the key question: can you purchase cryptocurrency with Apple Pay? Yes and no.
Buy crypto directly with Apple Pay
To get the bad news out of the way first: at this time, Apple Pay does not directly support purchasing cryptocurrency through their service. Cryptocurrency is, in the eyes of Apple, not an accepted payment method.
Apple Pay is still primarily intended for conducting transactions in traditional currencies such as euros and dollars, at brick-and-mortar and online merchants and other businesses that accept Apple Pay.
Too bad, but luckily the story doesn’t end there!
Indirect ways to purchase crypto
Apple Pay is therefore not suitable for directly purchasing crypto, as you can do with a bank transfer or with credit cards.
However, it is possible to use Apple Pay indirectly to purchase crypto, via:
- A crypto exchange. Some crypto exchanges accept Apple Pay as a way to fund your account. You can then use this fiat money balance to purchase crypto on the exchange.
- A prepaid credit card: Apple Pay can also be used to purchase a prepaid credit card. With that prepaid credit card you can then purchase crypto via an exchange or website that accepts this type of payment method.
You will have to do some research to find a suitable exchange where you can use Apple Pay.
It is therefore not possible to purchase cryptocurrency directly with Apple Pay, but you can use this payment method to invest in Bitcoin, Ethereum, Dogecoin or any other cryptocurrency you want in a safe and indirect way.