With the going craze of Bitcoin and other cryptocurrencies, companies have started getting themselves involved with the same. It has been observed that the spot demand for the currency has reduced. At the same time, general demand has increased. This means that retailers are acquiring more coins as compared to companies. And this is not a negative thing as it depicts the wider adoption of the cryptocurrency. Among all this, Apple pay also added Bitcoin support and allowed users to transact using the same.
Apple pay adds Bitcoin support.
The support for the 6th largest currency in the world was just completely added to Apple Pay. This addition will bring in a lot of trust and help users understand the gravity of Bitcoin. As of writing the article, the price of the cryptocurrency just crossed $50,000, and if it manages to stay that way, we can expect $60,000 in some time. Presently, only Bitcoin is supported on Apple Pay, but we can soon expect other cryptocurrencies to get supported too. Though, it is important to note that only the mainstream coins and secure ones might get the chance.
The integration of BitPay and Apple Pay allowed for this support. Users on the platform can make transactions using Bitcoin, and in fact, they can purchase coins using BitPay MasterCard. Some other cryptos that are supported by the BitPay wallet are Ether, Bitcoin Cash, Binance USD and others. The best part about BitPay is the ease to use the platform and its features. Any user can get instantly verified to get their online virtual card to purchase cryptocurrencies. And at the same time, once they get their physical card in a couple of weeks, it can be used to convert one’s cryptocurrencies into cash using ATMs. As of now, these features are only available in the US.
BitPay and Apple making BTC mainstream.
Apple has a huge brand influence and it adding support for Bitcoin is a positive step for the future of the cryptocurrency. Soon after Apple added Bitcoin support to Apple Pay, it was reported that these features are also coming to Google Pay and Samsung Pay soon. With the ecosystem that is being slowly created around Bitcoin and its price going KABOOM, global acceptance is near. Once all major companies and stores start accepting Bitcoin as a form of payment, no one can stop it from becoming the world’s largest currency.
What are your thoughts on Apple Pay, adding Bitcoin support? And do you think this feature will come to India amidst the ban speculations? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.