The convenience this integration provides was emphasized by Coinbase’s UK Country Director.
Coinbase is working to lower entrance barriers in order to expand its user base.
Crypto exchange Coinbase has announced that customers in the United Kingdom may now use Apple Pay on their iPhones to purchase Bitcoin, Ethereum, and other cryptocurrencies. The goal of this change is to make online shopping more private and safer.
Coinbase states that the integration of Apple Pay guarantees that card numbers are not saved on the device or on Apple systems, which enhances consumer security. These transactions are made possible by a one-of-a-kind device account number that is encrypted and protected on a standard chip, highlighting the dedication to privacy and security.
Lowering Entrance Barriers
The convenience this integration provides was emphasized by Daniel Seifert, Coinbase’s UK Country Director. Even though there are now over six million individuals in the UK who hold crypto, Coinbase is working to lower entrance barriers in order to expand this number.
Moreover, the integration takes place as the cryptocurrency market experiences a downturn, with fewer transactions and less interest from regular investors. Coinbase, however, remains hopeful, seeing this as a chance to take use of Apple Pay’s popularity to increase the accessibility of digital assets in the UK.
As the cryptocurrency market searches for fresh updates to fuel development, volume is now decreasing. This tendency was recognized by Coinbase on April 5, who pointed out that seasonal trends often reduce interest in risky assets like cryptocurrency.
Still, the exchange is keeping its fingers crossed, seeing the impending Bitcoin halving as an opportunity to drive prices higher. This outlook is in line with the market as a whole, which is waiting for developments that can reawaken investor enthusiasm and trade activity.