In 2017, the cryptocurrency world was stunned when the price of one bitcoin rose to over 13,00,000 Indian Rupee. The circumstances shocked many, especially those who wished they had bought it sooner.
No one wants to be the one left behind should that happen again. Because of this, thousands are hoarding to buy bitcoin wherever they can, while simultaneously buying various other cryptocurrencies.
This is even more straightforward now that companies like Coinmama are offering the ability to buy BTC currency with Apple Pay. But what do you need to do to get involved, and how can you be sure it’s safe in the process?
What is Coinmama?
Coinmama has been around since 2013 and has a strong affinity with cryptocurrency. They have focused on bitcoin payment registration and conquered the Apple devices market. They were the first company that Apple allowed to buy Bitcoin with their payment method.
Of course, those who accept bitcoin as payment have celebrated this innovation. It just got easier for people to buy cryptocurrency. Since it requires little effort, it is easier to embed or use on websites.
Coinmama is not just limited to US dollars. They trade in Euros, Japanese Yen, Australian Dollars, Canadian Dollars, and British Pounds. This means they can be used anywhere in the world, no matter how you manage your finances.
For those with Apple devices, paying for dealings with Bitcoin has become extraordinarily easy. Because of this, more and more users can enter the 21st century.
How to buy bitcoin with Apple Pay at Coinmama?
To buy bitcoin with Apple Pay, you must first use an Apple device that has your credit card set up on its settings page. After that, make sure you have registered with Coinmama to start your journey.
Next, you need to confirm your account via the email that Coinmama sent you. Click the link in this email to start the verification process. You must complete this before buying Bitcoin.
Then select Apple Pay as the payment method using the Coinmama app. This ensures that you will not be goaded to enter your card details later.
Go to the “ Bitcoin ” section in Coinmama and select the amount of cryptocurrency you wish to buy. You will be announced exactly how much this will cost.
After confirming the transaction, you will receive bitcoins directly into your Coinmama wallet. If necessary, these can be immediately transferred to your hardware wallet and saved.
How to Sell Bitcoin with Apple Pay on Coinmama?
If you continue to use bitcoin, you may want to sell it and convert it back to your traditional currency. Just follow these steps to start a cryptocurrency sale. Note, however, that refinancing your sale doesn’t go to Apple Pay, it goes straight back to your account via bank transfer.
First, log in to your Coinmama account via the Coinmama website. Then select “ Sell ” on your main account page. If you don’t have a Coinmama account yet, you can create one on their website.
Next, on the selling page, you can choose the amount of bitcoin you want to sell. On the screen, you will see the exchange rate with your preferred currency. You can base the value of your sale transaction on bitcoin or on the amount of traditional currency you wish to recover.
You can create an order by following the on-screen schooling. You will need to enter information such as your bank account for the transfer, as well as other personal information.
After that, you need to send the right amount of bitcoins to Coinmama’s wallet address. You can do this by entering them manually or by scanning your wallet app’s QR code. As soon as the coins have arrived, they transfer the corresponding payment amount to your bank account.
How to buy bitcoin with Apple Pay?
Coinmama, one of the leading cryptocurrency trading platforms, has simplified the buying process. Now you can buy bitcoin with Apple Pay. Let’s take a look at this new option.
It’s time to go through the steps you need to take to make sure you don’t miss out on the next big price hike. Then let us guide you step by step through the process of buying bitcoins. Before we begin, let’s take a look at why Apple is now also interested in the cryptocurrency market.
Apple’s interest in the Crypto Market
In late 2019, Apple’s Vice President said Apple had been watching the cryptocurrency world with interest. They saw the potential to revolutionize not only the way the world transacted but much more.
The company also introduced its own credit card that year. In cooperation with the financial sector, the “ Apple Card ” was introduced. This shows that they have a vested interest in the world of finance. It’s only a matter of time before they dip their foot into cryptocurrencies.
Yet, Apple has a long history of monetizing its customers. Bringing the cryptocurrency world under their roof makes a lot of sense for a business to ensure sales continue to grow. Since the launch of Cryptokit for iOS 13 in 2019, they have shown their willingness to embrace the technology in question. So much so that some think it’s only a matter of time before they integrate this into hardware wallets for cryptocurrency storage.
Apple has previously stated that cryptocurrencies like bitcoin carry “a lot of risks”. They’ve also been more explicit about wanting to expand their Apple Pay functionality. However, with Coinmama’s use of the payment method, they seem to be developing more openly lately. Now it’s a fact and you can buy bitcoin with Apple Pay.
What are the benefits of Apple Pay?
With the launch of Apple’s payment methods, many people had questions. For example, whether using their devices for this purpose is a good idea. The truth is that it may be safer than using a credit or debit card directly.
Apple Pay compares transactions after storing credit and debit card details elsewhere. Therefore, it is much more difficult for an evil hacker to access your data and clone or steal your card’s data.
Since the strategy is done through the phone’s interface, using Apple Pay is much easier than opening a web page. This means without having to reach for your physical wallet, check your number & join it. Apple Pay has made it so easy that it now processes almost a billion trades per month. This doesn’t seem to be slowing down anytime soon.
The only query you need to answer is “does my phone support this?” Yes, if you have an iOS device, you can buy bitcoin with Apple Pay. Another inquiry is, “Will my bank support this?” A full list of banks that support Apple Pay can be encountered on their website.
What are the advantages of Coinmama?
Coinmama has been at the forefront of the financial revolution since its inception in 2013. Their service is available in 188 countries. This means you can now buy bitcoin with Apple Pay no matter where you are. At least as long as you have a compatible device.
Among these countries, they currently support over 2.4 million customers who use their app regularly. You also have a daily exchange limit of 10,00,000 Indian Rupees when using balance transfers. This means that their application is more than sufficient for most everyday users.
This could be why they made the first move with Apple Pay. Not only that but why they are already being used by a wide variety of people in society.
Is this the start of mass adoption?
In the cryptocurrency world, Bitcoin is a leader in the transaction market. It has become so ubiquitous that major international exchanges are now supporting it. They offer to exchange Bitcoin through their own systems. Now that you can buy bitcoin with Apple Pay, it’s a big step toward mass adoption.
Even Venmo, the popular method for people to quickly transfer money to each other in casual settings, has now added support. With a simple app, you can now exchange cryptocurrencies between people.
In light of the uncertainty following the 2020 US election, Bitcoin is seen as a safe way to store one’s finances. This is thanks to the inherent security of the blockchain. The price has even risen to almost 14,00,000 Indian Rupees the same as in 2017. This means that now is a good time to invest as nobody knows exactly how high it could be. Thus, looking at our bitcoin price prediction could be a good second step.
Many of the larger Wall Street companies are even beginning to move large amounts of Bitcoin. This means that they are certainly trying to invest in the market. If money is treated seriously by such institutions, others may soon come to recognize them as they would any traditional currency.
The advance of cryptocurrencies will obviously not stop anytime soon. It would be correspondingly important to get a foot in the door with the current offer.
In order to buy Bitcoins with Apple Pay in the new offering, you may need to check how easy it is for you personally and whether buying cryptocurrency this way is worthwhile for you. Just follow the steps above to sign up and see how easy it is to buy bitcoin and get exposure to the bitcoin market of the future.