In this article i will cover the How to Buy Crypto with Apple Pay. This purchase method is supported by many major exchanges, allowing payments to be made with ease.
With the use of Apple Pay you can now buy cryptocurrency through your iPhone, iPad or Mac, and the process is both fast and secure. I will show you how to choose the right platform and how to complete your purchase effortlessly.
What Is Apple Pay?
Understanding Apple Pay which is developed by Apple as a digital payment service helps t o facilitate making secure payments through users’ iPhone, iPad, Apple Watch, or even Macs.
Apple Pay stores debit and credit card information in the Apple wallet making it easier for users to pay in stores, apps and online without requiring a physical card. A transaction is validated with either Face ID, Touch ID, or a device password providing adequate security and privacy.
Through Apple Pay, multiple banks and financial institutions around the world are provided with a fast, easy, and secure method to make purchases without the worry of card details being shared to merchants.
How to Buy Crypto with Apple Pay?
Here are the steps to purchase cryptocurrency on Binance using an Apple Pay account:
Sign In or Register
Download the Binance app or go to the Binance website and log in. If you do not have an account, register for one. Once done, finish KYC verification for exchanges using fiat money.
Access the ‘Buy Crypto’ Section
Click on the “Buy Crypto” on Binance’s homepage. Users can buy digital currencies and Australian assets with different payment methods including Apple Pay.
Select Apple Pay
Together with “Pay With” options, Apple Pay must be selected as a payment method. Make sure there is a valid credit card in the Apple Wallet for transactions.
Choose Currency and Crypto
Choose the fiat currency you plan on spending, for example, USD or Euro, and the crypto which can range from BTC to ETH.
Enter Purchase Amount
Enter the dollar amount you want to spend or the amount of crypto you would like to purchase. Portion of Binance’s users determine the computation ratio and Binance replaces the purchased crypto’s value without any problems.
Review and Confirm
Review the whole transaction and make sure to see fees, exchange rates, and total fees. Then click confirm to finish the purchase.
Apple Pay will request for authentication with a prompt. To authenticate the transaction, use any of the following: Face ID, Touch ID, your passcode.
Receive Your Crypto
As soon as the payment is completed, Binance will carry out the transaction immediately and the can cryptocurrency will be added to your Binance wallet.
Effects of Using Binance and Apple Pay Together
Privacy and Security
Since Apple Pay doesn’t disclose your credit card information to Binance, it creates an additional layer of protection.
However, Binance operates on a global scale which means that it must comply with local regulations, some of which may require certain data to be shared.
Additionally, users are required to undergo a KYC process in order to register to the platform.
Supported Countries
A number of countries that Binance operates in allow the use of Apple Pay together with the platform, but there may be some restrictions due to ongoing regulations, so users should make sure to check which countries are currently supported.
Users in the US have to use the separate Binance.US platform which is compliant with the regulations in the US.
Transaction Limits and Fees
Fees for purchasing assets with Apple Pay through Binance tend to be around 2%, but can vary with different types of coins and with large orders.
Regulatory Considerations
Many countries, including regions of the US and UK, as well as Japan and portions of Canada have placed some restrictions on Binance which may limit its effectiveness.
Top Apple Pay Friendly Crypto Exchanges
Binance
Binance lets users buy cryptocurrency instantly with Apple Pay. Aside from a very wide range of digital currencies, low fees, and excellent security, Binance provides users with instant transactions through Apple Pay.
Take note, however, that some regions may not have access because of certain restrictions.
Coinbase
Apple Pay is supported on Coinbase for purchase of cryptocurrency. Users may purchase Bitcoin, Ethereum, and several other cryptocurrencies via their Apple Wallet.
The Coinbase exchange is well known for having a very simple interface and great security features, making it suitable for all users no matter their experience.
Kraken
Apple Pay transactions are possible on Kraken’s mobile app, allowing easy purchase of cryptocurrency on the go.
With very strong security measures, low fees, and high asset coverage, Kraken is perfect for people looking for a reputable exchange with good regulatory compliance and transparency.
BitPay
As a primarily focused crypto payment processor, BitPay has unique features such as an integrated wallet which permits users to buy cryptocurrencies using Apple Pass. Apart from supports for Bitcoin and other stablecoins, it also guarantees users security.
Conclusion
Purchasing crypto with Apple Pay is one of the fastest and simplest ways to complete transactions. By selecting a chosen exchange, connecting Apple Pay, and finalizing the purchase with the desired cryptocurrency, transactions can be completed in minutes.
This method is very simple and secure which makes it equally suitable for both novice and experienced traders. Always check the fees and security before trading. Apple Pay increases the efficiency and accessibility of crypto acquisition for ordinary users.
