Various crypto exchanges have added Apple Pay to their list of available funding options. It differs from other deposit methods in that it can only be used on Apple devices. The payment system was created in 2014 and has been improved significantly over the years. Setting up the wallet is straightforward, and your transactions will be confirmed instantly. All you need to do in order to deposit money into a crypto site is by open Apple Pay and press a button. Done! See the best crypto exchanges and platforms allowing Apple Pay for funding below.
Top 8 sites for buying, selling and trading crypto with Apple Pay
This is the toplist with the best sites to buy, sell or trade cryptocurrencies with Apple Pay. To learn more why a certain site is ranked the way it is, you can read our review by clicking the review button.
We generally recommend using an exchange or platform with good track record, great reputation and positive feedback from its customers. The better option for you as customer, the better ranking we give them.
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- 1 Top 8 sites for buying, selling and trading crypto with Apple Pay
This deposit option is fairly popular in crypto exchanges, although major platforms like Binance still don’t support the banking method. iPhone and iPad users generally prefer Apple Pay as it offers high levels of convenience and quick transactions. At the moment, the company doesn’t charge any fees for the transfers.
+You can earn rewards when using this option.
+Apple Pay is both quick & easy to use for crypto deposits.
+It is extremely secure as it doesn’t use credit card information.
+The transfer costs are extremely low.
+Apple Pay offers high levels of privacy.
-Many crypto exchanges don’t support this banking option.
-It’s not certain that it’ll be fast when it gains mass adoption.
-Apple Pay is a relatively new deposit method.
-Apple Pay can’t be used on older iPhones.
-The verification process can be problematic.
What is Apple Pay?
Apple Pay is a unique payment system as it does not store your credit or debit card data. This makes it extremely secure. Also, the wallet is pre-installed on newer Apple devices.
Costs When Using Apple Pay
At the moment, this method of Apple mobile payments does not have any transfer costs. However, critics have mentioned that the company may add transaction fees in the future. While Apple doesn’t have any fees for the payment system, crypto exchanges may charge some fees for using this deposit option.
Transaction speed for Apple Pay
Apple Pay transactions are near-instant, and this makes it a great option for purchasing cryptocurrencies on exchanges. The issue here is that the deposit method is still new. Therefore, it is uncertain whether the transaction speeds will change as the network gains mass adoption.
Apple Pay Deposits
The procedure of purchasing cryptocurrencies with Apple Pay will vary depending on the crypto exchange you use. Generally, you will need to follow these steps:
1. Log into your crypto exchange account and verify your details.
2. Choose the cryptocurrency you want to purchase.
3. Add the number of coins you want to buy.
4. Select Apple Pay from the list of deposit methods and confirm the transaction.
5. Complete the payment with one of the verification methods offered. These include Face ID, Touch ID, and PIN codes.
Which are the main countries where Apple Pay is used?
This payment method is mostly used in the USA, Canada, and European countries like Germany, the United Kingdom, Greece, Portugal, and Poland. Most countries in Africa are excluded from this payment system, and these include Zambia, Kenya, and Ethiopia. Other restricted countries outside Africa include Albania, Turkey, and Moldova. Apple is planning to expand this deposit method over the next few years.
Can you withdraw with Apple Pay?
Apple Pay can be used to make withdrawals in various crypto exchanges. It is important to go through the payment guide of your chosen exchange as some platforms may significantly limit the amount you can withdraw using Apple Pay.
Reputation of Apple Pay
This banking method is still new, but it has become popular among iPhone and iPad users. The wallet is pre-installed in iPhones and iPads, and that makes it quite convenient to use. The Apple Wallet application has a rating of about 3.5 stars on the official Apple app store, and this is fair. Most complaints have been about bugs in the app, and these have been fixed with recent updates to the system.
Apple Pay FAQ
Here are some of the most common questions that Crypto Lists received about this deposit method.
Is it safe to use Apple Pay for cryptocurrencies?
Yes, this deposit method is extremely secure as it does not store your credit card number. The payment method will simply give you a device account number, which will be encrypted and stored in a secure part of your device.
How do I set up Apple Pay?
Haven’t got it yet? Well, it’s high time to get Apple Pay if you are using a newer iPhone model.
You should first tap the Add option and link your credit or debit card. You will then have to verify your bank or card issuer, and the deposit option will be ready to use.
Is Apple Pay instant?
Yes, all deposits made using this banking option will reflect instantly. It is also worth noting that the wallet can be set up within minutes.
When was Apple Pay founded?
This banking method was founded in 2014 and was unveiled by CEO Tim Cook.
Where is the mother company based?
This payment method was developed by Apple Inc., a corporation which is based in Cupertino, California.
Does this banking method only work on Apple devices?
Yes, this is one of the main disadvantages of this banking option. It is also worth noting that this deposit method cannot be used on older iPhones and iPads.
Have you still got any question? Feel free to ask us, and we’ll do out best to include your query about Apple Pay within short.