Apple Pay users can now spend in Bitcoin, other cryptocurrencies

Crypto News

Apple Pay users can now spend in Bitcoin, other cryptocurrencies


Bitcoin is one of the hottest currency in the world. The cryptocurrency managed to breach the $50,000 mark on Sunday. Mainstream companies are also jumping on the crypto bandwagon. Reportedly, Apple Pay users can also spend their bitcoin through the native app.

A report by PhoneArena claims that Bitcoins and few other popular crypto-currencies can be used for payment using the Apple Pay app. An app called BitPay allows users to buy Bitcoins as well as use the app’s prepaid Mastercard in the Apple Pay. The BitPay wallet can be added to both Apple Wallet and Apple Pay.

The BitPay wallet app also works with other cryptocurrencies such as Ether, Bitcoin Cash as well as USD Coin, Gemini Dollar, Paxos Standard and Binance USD which are dollar-pegged stable coins.

According to the application’s description on Google Play Store, any user can apply for a BitPay Card to start spending crypto instantly. It claims that approval only takes seconds and the virtual card will be available for immediate use online. The user will also get a physical card will after a couple weeks through which the user will be able to convert their crypto into cash at the ATM or spend it in any retail store. However, this will only be available to users in the United States.

The BitPay app is also expected to roll out support on other prominent payment applications such as Google Pay and Samsung Pay. This will allow a large number of Android users to access the service of the application.

Recently, another major American company Tesla announced that buyers of their electric cars can make the purchase the using bitcoin. The CEO of the company, Elon Musk is also a big proponent of cryptocurrency and also promotes a few through his social media accounts.

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.



Source link

Tags :
Share This :