To facilitate cryptocurrency purchases for United Kingdom-based users, the crypto exchange Coinbase has announced the integration of Apple Pay functionality. This development allows users to buy Bitcoin and other digital assets directly through their iPhones using the Apple Pay feature.
Implementing Apple Pay Feature for Safer Transactions
According to Coinbase, enabling Apple Pay provides users with a "more secure and private" method of purchasing cryptocurrencies. The exchange emphasized that when transactions are made using Apple Pay, card numbers are not stored on the device or Apple servers. Instead, a unique device account number is assigned, encrypted, and stored in a chip designed for securing payment information.
This integration arrives at a time when the cryptocurrency market is experiencing a slowdown in trading volume and retail interest.Coinbase recently reported decreasing crypto volumes as the market seeks new narratives to drive prices higher. While the upcoming Bitcoin halving event could potentially spark price increases, the exchange acknowledged the challenge of navigating a historically weak period for risky assets like crypto.
Daniel Seifert, the UK Country Director at Coinbase, stated that the new integration helps make accessibility to digital assets easier in the country. He said: “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.”
???? JUST IN: #Coinbase integrates Apple Pay for UK users, allowing secure and private crypto purchases directly on iPhones.
— Satoshi Club (@esatoshiclub) April 10, 2024
Crypto Social Media Engagement Wanes despite Market Buzz
Beyond trading volume, social media engagement data indicates subdued retail interest in cryptocurrencies. LunarCrush, a socialanalytics platform, observed fewer posts related to Bitcoin, Ethereum, and other cryptocurrencies on social media platforms. Joe Vezzani, the CEO at LunarCrush, noted that social interactions within the crypto space are currently lower compared to previous bull markets, even after accounting for spam and bot activity.
This article was written by Tareq Sikder at www.financemagnates.com.
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