Apple, Will it Support Crypto Currency?

Bitcoin Secret Found On Apple Devices (Top 5 Crypto Investors) [Video]

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Virtually Universal: What Apple’s Support of Crypto Currency May Bring Us?

If you believe that the Apple Pay system is universal and meets pretty much any need of Apple customers in terms of money operations… it looks like you actually may be right. OK, what about crypto?

Mind you, until recently our answer to such a daring assertion would be “think again” or “let us not get ahead of ourselves”. But in the last year or so, things changed notably on this front, and all the crypto currencies and their holders are most certainly laughing at the moment.

And it all had begun in February, 2021, when, on top of the usual credit and debit bank card support (to which, after a while, PayPal account compatibility was added as well), Apple Pay and Apple Wallet customers got a new option. To wit, they became able to use bitcoins with their e-wallets. (And not just Bitcoin itself, but also a couple of other currencies of the same kind associated with it – namely, Ether and Bitcoin Cash – and a whole array of currencies pegged to dollar rate, from USD Coin and Binance USD to Paxos and Gemini Dollar).

Begun in February, 2021, Apple Pay and Apple Wallet customers got a new option. To wit, they became able to use bitcoins with their e-wallets.

Now granted, currently you can only do that as long as you are a US resident and have Bitcoin’s signature wallet – Bitpay Prepaid Mastercard, that is – on your gadget. Yet still, it may be rightly considered a breakthrough in itself (yet another bold move by Apple, what else is new?) and there is no question that it is quite an endorsement for the whole phenomenon of crypto currency. Not only does it substantially widens the crypto’s reach and boosts the flexibility and convenience of its use – what with various apps and both virtual and physical shops now accepting bitcoins via Apple payment software. With such a major market player throwing its weight behind the mineable coins, it was only a matter of time until the trend would spill over into other countries, and more reputable online wallets would follow in Apple’s footsteps.

And yes, it started happening pretty soon. In fact, as part of their Apple-related statement, the representatives of Bitpay announced future plans for the same type of collaboration with Samsung and Google Pay applications, scheduled to be implemented within the next month. And, sure enough, these plans were put into practice smoothly and on time. So now the only thing any Bitpay card holder with Google, Samsung or Apple virtual wallet on their phone has to do in order to start using their crypto card for shopping is upgrade the said card’s application (also called BitPay) to the latest version. There was even the intention, voiced by Elon Musk himself, to sell Tesla cars for bitcoins, though he apparently changed his mind in the end.

In fact, as part of their Apple-related statement, the representatives of Bitpay announced future plans for the same type of collaboration with Samsung and Google Pay applications.

The question still remains, however, whether the rest of us should be as excited about these changes as were, say, BitPay boss Stephen Pair or the experts from RBC Capital Markets who almost immediately in the wake of the subject announcement recommended that Apple created its own crypto exchange. True enough, this step by Apple (and others who followed suit) made life much easier for those of us who are already committed to crypto currency, removing many a hurdle from the process of such transactions. But on the other hand, the jury is still out on how safe this particular kind of currency is. After all, the whole lot of concerns making bitcoins and the like so volatile – first of all it has no backing of any main financial institution (and, therefore, no really solid investment protection – aren’t going anywhere. Meaning, the fear of a possible bubble burst stays around for the time being (which, by the way, may have influenced the aforesaid decision by Tesla to keep away from crypto payments). Which, in turn, may mean that electronic wallets by Apple et al are now dealing in risky currencies and thus have a potential to become unsafe themselves. And it is too early to judge which of these two possible futures will prevail.