Coinbase Enables Apple Pay for Crypto Purchases in the UK

Coinbase, a leading cryptocurrency exchange, has announced that users based in the United Kingdom can now purchase Bitcoin (BTC), Ether (ETH), and other digital assets using Apple Pay on their iPhones. 

The integration of Apple Pay is seen as a move to provide users with a more secure and private method of buying cryptocurrencies.

Coinbase Integrates Apple Pay

According to Coinbase, enabling Apple Pay offers users a heightened level of security as card numbers are not stored on the device or Apple servers, stated a report from Finance Magnates.

Instead, each transaction is assigned a unique device account number, which is encrypted and stored in a standard chip designed for secure payment information storage.

Daniel Seifert Weighs In

Daniel Seifert, Coinbase’s country director for the U.K., expressed excitement about the new integration, stating that it makes accessibility to digital assets easier for users in the country.

“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,” Seifert said. 

He emphasized the popularity of Apple Pay in daily transactions and highlighted the logical step to bring this convenience to Coinbase.

Coinbase to Expand Operations in the UK

The move comes as Coinbase aims to expand the adoption of cryptocurrencies in the U.K., where over six million adults reportedly own crypto assets. By lowering entry barriers to digital assets, Coinbase hopes to increase this number and make crypto more accessible to a broader audience.

Coinbase’s decision to integrate Apple Pay coincides with a slowdown in crypto market activity, as observed on April 5. The exchange noted decreasing crypto volumes amidst efforts to identify the next catalyst to drive market growth. 

Bullish Sentiment Surrounding Bitcoin Halving

Despite the slowdown, Coinbase believes that the upcoming Bitcoin halving event could potentially trigger higher prices, although it acknowledges the traditionally weak period for risky assets like crypto.

“In our view, bitcoin’s increased acceptance as a form of “digital gold” could enable demand from a new subset of investors in this market regime,” said the exchange.

Moreover, social media engagement data indicates a decline in retail interest in crypto, as evidenced by fewer posts related to cryptocurrencies like Bitcoin, Ethereum, and Solana. 

Joe Vezzani, CEO of LunarCrush, a social analytics platform, suggested that this decline may signal a reduction in social media activity within the crypto space, excluding spam and bot-driven interactions.