Coinbase already allows cryptocurrency buyers to use Apple Pay: they will be able to withdraw up to $100,000 at a time

Coinbase already allows cryptocurrency buyers to use Apple Pay

The cryptocurrency trading platform Coinbase has started allowing you to buy cryptocurrencies using Apple Pay, and everything points to the addition of Google’s payment service soon. That is, people with a card linked to their virtual Apple wallet will be able to use this payment system on the platform.

On the other hand, Coinbase has established a limit for instant withdrawals of $100,000, without a maximum of withdrawals, becoming the first platform in the sector to introduce such a service.

Until now, clients of these types of cryptocurrency trading platforms used a much slower payment system, in which a withdrawal of money could take up to five days to settle. This service is called the Automated Clearing House (ACH ) system, which is also used by banks and financial institutions.

Apple Pay is the most used payment service in the US

Apple Pay stands as the main payment service used by American consumers. In 2021, this system registered 44 million users in the territory of the North American country, according to eMarketer data, hence Coinbase has been interested in integrating this service into its platform. However, Starbucks, Google Pay, and Samsung Pay are close competitors, in that order.

For its part, Coinbase has become the main cryptocurrency trading platform important to be listed on the stock market, after it began to be valued on the Nasdaq on April 14.

In fact, Coinbase going public was a milestone for the crypto economy and from the standpoint of consumer acceptance and legislative regulation.