How Coinbase Made Crypto Buying Simple With Apple Pay Integration?

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As a seasoned researcher who has witnessed the evolution of the crypto industry over the past decade, I must say that the recent integration of Apple Pay with Coinbase Onramp for fiat-to-crypto buying is nothing short of revolutionary. Having spent countless hours navigating the complexities and nuances of various cryptocurrency platforms, I can attest to the fact that this simplification of the buying process will undoubtedly attract a whole new wave of investors to the industry.

Over the past 15 years, the field of cryptocurrency has experienced rapid and significant growth, especially in technological advancements. Now, there are countless cryptocurrencies available for trading, numerous exchanges where you can purchase them, and multiple wallet options for securely storing your cryptos. Investing in crypto has thus become more accessible than ever before. More recently, the Coinbase exchange has made waves by integrating Apple Pay for seamless conversion of fiat currency to crypto through its Onramp service, further simplifying the process of investing in cryptocurrency.

Coinbase Integrated Apple Pay for Crypto Buying via Onramp

In the United States, over 60 million individuals rely daily on Apple Payment services. The convenience that Apple offers has been lacking in the cryptocurrency sector until now. Notably, Coinbase, a digital currency exchange based in San Francisco, has recently incorporated Apple Pay debit into its system. This innovation enables users to purchase cryptocurrencies using traditional money (fiat) on Onramp, and they can also buy crypto with the widely-used stablecoin USDC during both purchasing and selling transactions (On/Offramping).

According to the announcement made on Monday, users of Onramp can easily purchase cryptocurrencies such as Bitcoin, Dogecoin, and many others using Apple Pay Debit. The San Francisco-based exchange’s Onramp stands out in the top Fiat Onramps list of 2024 and includes integrated Know Your Customer (KYC) and compliance features. Moreover, it is favored by app developers for quicker crypto purchases since it supports approximately 100 tokens and over 60 fiat currencies, making it a preferred option among crypto enthusiasts.

We’re thrilled to share that you can now use Apple Pay for transactions converting fiat currency into cryptocurrency through Coinbase Onramp!

Making onramping easier, faster, and more accessible than ever.

Say goodbye to lengthy processes—users can get onchain in seconds.

Here’s how it works…

— Coinbase Developer Platform (@CoinbaseDev) December 2, 2024

This integration streamlines the tedious and time-consuming procedure for purchasing cryptocurrency, which involves linking banks, undergoing KYC (Know Your Customer) verification, converting traditional money (fiat) into a stablecoin or similar digital asset initially, and more. But with the fiat-to-crypto buying feature, it’s as simple as a few mouse clicks. The team has boasted that this process can be accomplished in just 30 seconds.

Not The First Integration With Apple Pay

Previously, our exchange hasn’t been shy about partnering with Apple Pay; in fact, we introduced Apple Pay as a payment option back in July 2021, enabling users to purchase cryptos directly via Coinbase Card compatible with both Apple and Google Pay. Remarkably, another platform, Uphole, has also joined forces with the Topper platform in the same manner.

As an analyst, I find it intriguing that the tech giant once known as the iPhone corporation has taken down numerous crypto applications from its App Store and historically shied away from engaging with the digital currency industry. In 2019, this colossal, multi-trillion dollar enterprise declined to offer users the option of purchasing cryptos using Apple’s credit card. Yet, the landscape has evolved significantly since then.

Notably, the cryptocurrency exchange based in San Francisco formed an alliance with Visa to improve debit card transactions some time back. Now, as a result of this partnership, one of the largest crypto exchanges is undergoing a transformation, enabling its users to take advantage of using numerous debit cards for depositing and withdrawing funds on their platform.

Furthermore, this partnership is likely to draw in a significant number of investors who have been hesitant due to the intricacies involved in transactions. By collaborating with Coinbase Onramp, Apple Payment users now have the ability to easily buy and sell cryptocurrencies using their service.

Bottom Line

Through the latest integration of Apple Pay Debit on Coinbase Onramp, the cryptocurrency exchange has simplified transaction processes significantly. According to representatives, this update enables users to purchase cryptocurrencies directly using fiat currency without having to undergo complex and time-consuming procedures such as KYC, converting fiat to assets, connecting banks, etc. Notably, this marks their second partnership with Apple Inc., as they previously enabled crypto buying through the exchange’s Card with Apple Pay and Good Pay within the platform itself in 2021.

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2024-12-03 17:46