Coinbase Introduces Crypto Purchases in UK with Apple Pay Integration
According to crypto exchange Coinbase, users based in United Kingdom can now buy Bitcoin, Ether and other digital assets using the pay feature of IPhone Apple.
Enabling Apple Pay would allow its users a more secure and private way to purchase crypto, Coinbase believes.
Coinbase stated users when Apple Pay purchases are made by users, the card numbers are not stored on the device or the Apple servers.
According to Coinbase, a distinct device account number is assigned, encrypted, and kept in a chip that is industry standard for storing payment data.
According to Coinbase's Country Director for United Kingdom, Daniel Seifert, the new integration helps make accessibility to digital assets convenient in the country.
He stated:
We know users already love using Apple Pay in their daily lives, so it only made sense to bring this convenient way to pay to Coinbase as well.
Over six million adults in the United Kingdom own crypto, according to Coinbase. The Apple Pay integration is part of the company's efforts to increase this number by lowering entry hurdles to digital assets, Coinbase said.
The integration takes place at a time when volume and retail interest in the cryptocurrency field are declining. Coinbase reported on April 5 that the market is looking for the next big story to drive prices higher, which is why cryptocurrency volumes are declining.
The upcoming Bitcoin halving could catalyze higher prices noted by Coinbase. But the exchange also made clear that it had to deal with the fact that this is a "typically weak time of year" for riskier assets like cryptocurrencies.
Social media engagement data also reveals weak retail interest in cryptocurrencies, in addition to low crypto volumes.
Hive: @haveyoursay
X: www.x.com/newsintercept
Website: www.newsintercept.com
Posted Using InLeo Alpha
Cool. Thank you