Coinbase, a leading cryptocurrency exchange, has recently made an exciting announcement for its customers in the United Kingdom. They can now use Apple Pay on their iPhones to purchase Bitcoin, Ethereum, and other cryptocurrencies. This move aims to enhance privacy and security in online shopping.
One of the key benefits of this integration is that it ensures card numbers are not stored on the device or Apple systems. Coinbase achieves this by utilizing a unique device account number, which is encrypted and securely protected on a standard chip. This commitment to privacy and security is a crucial aspect of the integration.
Daniel Seifert, Coinbase’s UK Country Director, highlighted the convenience that this integration offers. Despite there being over six million individuals in the UK who hold crypto, Coinbase is determined to lower the barriers to entry to further expand this number.
This integration comes at a time when the cryptocurrency market is experiencing a downturn, with fewer transactions and reduced interest from regular investors. However, Coinbase remains optimistic and sees this as an opportunity to leverage the popularity of Apple Pay to increase accessibility to digital assets in the UK.
As the cryptocurrency market seeks fresh updates to stimulate growth, trading volume is currently decreasing. Coinbase acknowledged this trend on April 5 and noted that seasonal patterns often dampen interest in risky assets like cryptocurrencies.
Nevertheless, the exchange remains hopeful, particularly with the upcoming Bitcoin halving, which is expected to drive prices higher. This sentiment aligns with the overall market sentiment, as investors eagerly await developments that can reignite enthusiasm and activity in trading.
In other crypto news today, analysts predict a 300% surge for Cardano (ADA), indicating a potential comeback for the cryptocurrency.