Users of Coinbase in the UK can now easily purchase Bitcoin, Ethereum, and other cryptocurrencies through Apple Pay on their iPhones, as announced by the popular cryptocurrency exchange. This new feature is designed to ensure a safe and discreet transaction process.
Based on information from Coinbase, when you use Apple Pay, your card details aren’t saved on your device or with Apple. Instead, a unique identifier for your device is used to process transactions, which is encrypted and securely stored in a standard chip. This approach underscores Apple’s dedication to safeguarding user privacy and security.
Daniel Seifert, the UK representative for Coinbase, emphasized the convenience this integration brings. With approximately 6 million British adults already holding cryptocurrencies, Coinbase intends to expand this community by eliminating obstacles and making it simpler for more people to join.
Amidst a slump in the cryptocurrency market, marked by dwindling trading volumes and waning retail interest, Coinbase introduces its integration with Apple Pay. Despite this downturn, Coinbase remains hopeful, seeing this as a chance to expand digital asset accessibility for UK users through Apple Pay’s vast user base.
Crypto Market Slumps, Coinbase Remains Optimistic
The cryptocurrency market is presently seeing a drop in trading activity as it seeks fresh stories to fuel expansion. On April 5, Coinbase identified this pattern, mentioning the influence of usual trends that usually diminish the appeal of riskier investments such as cryptocurrencies.
Despite this, the Bitcoin exchange maintains optimism, looking forward to the approaching halving event as a possible trigger for increased prices. This view is consistent with the larger market’s expectation of significant occurrences capable of renewing investor enthusiasm and market dynamics.
Kunal Goel, an analyst at Messari, predicts that Coinbase’s first-quarter revenue will see a substantial jump by around 89%, reaching approximately $1.5 billion. This anticipated rise is due to a notable doubling in trading volume. The surge in trading activity can be attributed to the approval of Bitcoin spot ETFs and record-breaking market excitement. Nearly two-thirds of Coinbase’s income comes from transaction revenue, which highlights its financial stability during volatile market circumstances.
COIN Price Jumps 5% Despite Downturn in Crypto Interest
According to recent analyses of social media activity, there seems to be decreasing enthusiasm among retail investors for cryptocurrencies like Bitcoin and Ethereum. This observation was made by LunarCrush, a social analytics platform, which found a noticeable decrease in posts containing crypto-related keywords. Joe Vezzani, the CEO of LunarCrush, drew a comparison with previous bull markets, indicating a substantial drop in engagement levels.
Based on recent reports, Coinbase’s stock price (COIN) has surged by more than 5% within the past 24 hours as per Coingape’s current pricing. The COIN is now being exchanged at a rate of $256.99. Its trading volume over the last day reached an impressive $10,042,177.00. Over the previous 30 days, the COIN experienced lows of $230 and highs of $279.
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2024-04-10 19:34