Why does it matter if it’s possible to buy cryptocurrency with Apple Pay? It does because Apple Pay is only available on Apple devices. With crypto adoption on everyone’s lips, it becomes crucial that iPhone users are able to access cryptocurrency using the operating system’s native payment system. In 2023, there were just under 1.3 billion iPhone users, amounting to over 20% of the entire world’s population at the time.
You should know that you need an iPhone 6 or better or an Apple watch to use Apple Pay. If you have an eligible device, you can proceed to buy cryptocurrency on any one of the following platforms:
- Coinbase
- Binance
- Bitpay
- Metamask
1. Buying Crypto using Apple Pay on Coinbase
Coinbase was founded in May 2012 by Brian Armstrong and Fred Ehrsam, making it one of the oldest crypto exchanges. According to CoinMarketCap, it is the fourth largest crypto exchange in terms of trade volume. It exists, like other exchanges, to simplify the process of investing in crypto gems and finding the best meme coins to buy. Alan Draper shares that investors typically choose new coins to purchase based on market cap, community, quality, volatility, and development. In addition, Coinbase works hard to make trading cryptocurrencies much easier overall. This was exemplified in June 2021, when the platform announced that iOS users could buy crypto using Apple Pay; however, they will be unable to sell crypto or cash their crypto out into their Apple Pay account.
Steps to buy crypto on Coinbase using Apple Pay
The following are easy-to-follow steps to buy crypto using Apple Pay on the Coinbase platform:
1. With your Apple Pay compatible device, log in to your Coinbase account. You can use the Coinbase website or download the mobile app from the iOS App Store.
2. Choose the cryptocurrency you want to buy from the list of available options.
3. Select how much crypto you want to buy. It is crucial that you choose the same denomination as the card linked to your Apple Pay account.
4. Select Apple Pay from the payment options available to your region.
5. Proceed to confirm your crypto purchase.
The transaction is usually instant, and it is advisable for relatively small deposits. If you do not find Apple Pay listed as a payment option, it is likely that you have yet to link your Mastercard or Visa card to the target Apple Pay account.
2. Buying Crypto on Binance with Apple Pay
Binance, in many parts of the world, is synonymous with crypto exchanges. It is the largest exchange in the world by trading volume, with over $37 billion trading hands daily. One of the reasons it is so popular is the trust it has been able to build with Binacians and the assurance that through whatever weather, their funds are safe. It is for this reason that Apple Pay joined its rank of payment methods in June 2021, as it offers some protection against common cybersecurity issues in today’s evolving digital landscape.
The Apple Pay payment method was first rolled out to Binacians in the United Kingdom and the European Economic Area (EEA) before being introduced to the United States market, although it only allowed the use of debit cards, different from the UK and EEA where debit and credit cards were allowed.
Also, unlike Coinbase, Binance allows users to purchase cryptocurrency and make crypto investments on the platform using Apple Pay as a payment method.
Steps to buy crypto on Binance using Apple Pay
The following are easy-to-follow steps to buy crypto using Apple Pay on the Binance platform:
1. Login to your Binance account with your iOS-ready device.
2. The next step is to click on your wallet and select the deposit US dollar option.
3. Choose Apple Pay as your payment method.
4. Enter the amount you want to deposit and confirm your deposit.
5. Proceed to take receipt of your cryptocurrency.
You should know that Binacians living in the United States will have to contend with charges as high as 3.75% of the total amount being deposited. In comparison, people in the United Kingdom and the European Economic Area will experience about 2% in fees on whatever amount is being deposited.
3. Buying Crypto on Bitpay with Apple Pay
Based out of Atlanta, Georgia, Bitpay is the largest payment system that allows users to buy and sell crypto with ease on the platform. Users can buy cryptocurrency on Bitpay with their debit card through Apple Pay since the payment method was added to the platform in 2021. Besides in-app payments, Bitpay offers its users a BitPay card that they can add to their Apple Pay Wallet for in-store payments or use on other platforms that allow and accept crypto payments. As a result, users can use their BitPay card to buy anything ranging from the M4 iPad Pro to crypto on other platforms of their choice for whatever reasons they might have.
Steps to buy crypto on BitPay using Apple Pay
The following are easy-to-follow steps to buy crypto using Apple Pay on the BitPay platform:
1. The first step is to download the BitPay application on your iOS-ready device. If you already have the application on your device, you can skip to the next step.
2. Click the buy crypto prompt and choose the cryptocurrency you want to buy from the available options. The BitPay platform offers Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Wrapped Bitcoin (WBTC), Litecoin (LTC), and Dogecoin (DGC), among others.
3. Choose how much on your debit/credit card linked to your Apple Pay wallet you want converted to your choice cryptocurrency. BitPay supports AUD, EUR, GBP, USD, and 30+ currencies.
4. Select Apple Pay as your payment method.
5. You will be transferred to a sister site where you can complete the transaction.
6. Your wallet will be credited with your crypto.
If you’d rather use the BitPay card to buy crypto, you need to apply for the card on the BitPay app. To be eligible for the card, you must be at least 18 years old, successfully complete location and identity verifications, provide a clear selfie, and have any one of the following IDs:
- Passport
- Residence permit
- State ID
- Immigrant visa
- Driver’s license
4. Buying Crypto using Apple Pay on Metamask
Metamask is a free web and mobile cryptocurrency wallet that is used to interact with the Ethereum Blockchain ecosystem. While it is not directly integrated with Apple, it allows users, through Wyre, to access Apple Pay and buy cryptocurrencies on its platform using their credit/debit cards. Purchasing crypto on Metamask has the unique advantage of allowing people to use crypto on decentrlized applications and web 3.0 services that include but are not limited to financial services, anonymous casinos, and gaming in general.
Steps to buy crypto on Metamask using Apple Pay
The following are easy-to-follow steps to buy crypto using Apple Pay on the Metamask platform:
1. Access your Metamask account on the mobile app or the web
2. Proceed to set up your Apple Pay on the account. Your credit/debit card must be already linked to your Apple Pay wallet. Ensure you have already provided all necessary know your customer information on the card.
3. Click the add funds button and choose the cryptocurrency you want added to your wallet.
4. Choose Apple Pay as your payment method. Ensure you have already provided all necessary know your customer information on the card.
5. Enter the amount in your Apple Pay wallet that you want to be converted into cryptocurrency.
6. Authenticate the transaction and take receipt of your crypto in your Metamask wallet.
You should know that Metamask imposes a $400 daily limit when using Apple Pay as the payment method. Also, all deposits are subjected to a gas fee and transaction fee, about 0.8% of the total amount being deposited.
Conclusion
Apple Pay is one of the popular payment methods because of its ease of use and security. Users no longer have to worry about carrying their different cards around, as they can now safely store all of them on their internet-ready iOS devices. Also, there’s no need to worry about passwords, as the transactions can be authenticated using touch ID and face ID technologies. The result is that users can immediately add cryptos of their choice to their wallets with very little fuss.
