how can i buy crypto with apple pay

How to Buy Crypto with Apple Pay

Key Points:

• Apple Pay allows users to pay for goods and services securely using their iPhone, Apple Watch, or iPad.
• Coinbase is the first major cryptocurrency exchange to accept Apple Pay as a payment method.
• To buy crypto with Apple Pay, users must have an Apple device and an active Coinbase account.
• The minimum purchase amount for cryptocurrencies via Apple Pay is $50.
• There is a 2% transaction fee for purchases made with Apple Pay on Coinbase.

Step-by-Step Guide to Buying Crypto with Apple Pay

Step 1: Enable Apple Pay on Your Device

• Ensure your iPhone, Apple Watch, or iPad has Apple Pay enabled.
• Add your credit or debit card information to your Apple Pay account.
• Verify your identity with your passcode or Touch ID.

Step 2: Create a Coinbase Account

• Visit the Coinbase website or download the Coinbase app on your device.
• Create a new account by entering your email address, creating a password, and verifying your phone number.
• Complete the identity verification process by providing your personal information and uploading supporting documents.

Step 3: Fund Your Coinbase Account with Apple Pay

• Select "Buy Crypto" on the Coinbase dashboard.
• Choose the cryptocurrency you wish to purchase and enter the desired amount (minimum $50).
• Click "Apple Pay" as your payment method.
• Verify the purchase amount and confirm the transaction with your Face ID or Touch ID.

Step 4: Store Your Crypto

• By default, the purchased crypto will be stored in your Coinbase account's wallet.
• If you wish to secure your crypto further, you can transfer it to an external hardware wallet.

Step 5: Track and Manage Your Crypto Portfolio

• The Coinbase app or website allows you to track the value of your crypto portfolio and manage your investments.
• Set up price alerts to stay informed about price fluctuations.
• Use the "Withdraw" feature to transfer crypto to other wallets or external platforms.

Frequently Asked Questions (FAQs)

Q: What cryptocurrencies can I buy with Apple Pay on Coinbase?

• A: As of August 2023, Coinbase supports Apple Pay for the following cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and Ripple (XRP).

Q: Is there a fee for buying crypto with Apple Pay on Coinbase?

• A: Yes, Coinbase charges a flat 2% transaction fee for purchases made with Apple Pay. This fee is added to the purchase price.

Q: Can I buy crypto with Apple Pay on exchanges other than Coinbase?

• A: No, as of August 2023, Coinbase is the only major cryptocurrency exchange that supports Apple Pay as a payment method.

Q: Is Apple Pay available in all countries for crypto purchases?

• A: The availability of Apple Pay for crypto purchases varies by country. Coinbase currently supports Apple Pay in the United States, the United Kingdom, Canada, and some other select countries.

Q: Is it safe to buy crypto with Apple Pay?

• A: Yes, Apple Pay is a secure mobile payment system. Coinbase utilizes industry-leading security measures to protect user funds. However, it's important to remember that cryptocurrency investments are subject to market volatility and can result in financial losses.