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This beginner’s guide walks you through which Bitcoin brokers let you deposit money with Apple Pay, and breaks down some of the most important things to think about when using one.
Where can you buy Bitcoin with Apple Pay?
Here’s a run-down of the best brokers that accept Apple Pay, which have been chosen by our team of experts based on how quick, easy, and inexpensive they are to use.
1
Min. Deposit
$50
Exclusive promotion
Our score
10
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Cex.io offers exchange of fiat currency for Bitcoin Ethereum, Tether, and 23 other cryptocurrencies, as well as Bitcoin/Ethereum trading against the USD.
LonghornFX is a true ECN STP broker dedicated to delivering a superior trading experience to traders no matter their level of experience. Their services are based on transparency, innovation and efficiency, ensuring an unparalleled trading experience for all.
Payment Methods
Credit Card, Debit Card, Visa, Bitcoin
Full regulations list:
LonghornFX offers high-leverage trading on a wide variety of assets. Trading with leverage carries a degree of risk which may result in losing more than your investments. Clients should practise risk management to protect themselves from losing more than they can afford when trading with leverage.
What is an Apple Pay Bitcoin broker?
A broker that offers Bitcoin and lets you fund your account using Apple Pay. In general, a Bitcoin broker is a service that offers Bitcoin at a fixed price and executes your trades for you. It usually charges a small fee for doing so, and one of the features of using Apple Pay is that it tends to be a bit more expensive than using a standard payment method, like a bank transfer.
How to deposit and withdraw via Apple Pay
Deposit
To deposit money , you generally need to follow the these steps:
Open an account and then verify your identity
Go to your broker’s website, and select the “Apple Pay” option on the “Add money” screen.
After that, you’ll be prompted to link your Apple Pay account to your brokerage account.
Add money to your Bitcoin wallet by entering an amount and selecting Apple Pay as the payment method.
Withdraw
You cannot withdraw Bitcoin to your Apple Pay account as it cannot hold cryptocurrency. However, if you’re selling Bitcoin and need to withdraw your money afterwards, you can simply select Apple Pay as the withdrawal option if you’ve already linked your account to the broker. If not, then select “withdraw” and follow the same steps as above.
What should I look for in an Apple Pay Bitcoin broker?
As well as accepting your payment method of choice, make sure your broker offers superior service too. Here are some key traits to look for:
Low withdrawal and deposit charges. The fees you’ll have to pay are typically a bit higher than what you’d have to pay if you use a credit card for the purchase instead. Still, rates can vary. Our guides will help you find the best deal around.
Speed. Ideally, your broker will enable you to execute trades quickly.
Ease of use. The best platforms are quick and easy to use, with a clean interface that means you can always find what you want without spending a long time looking. You should also look for platforms that have their own app so you can access your account on the go.
A strong reputation. Positive reviews and industry awards are two of the most positive indicators for a broker’s reputation. Take the extra time to read up on the accolades of the platform you plan to choose.
A verifiable track record. Make sure that your broker has been around for long enough to build up a track record of solid performance.
Fast and easy. Apple Pay is one of the fastest and easiest ways to make purchases around the world.
Secure transactions. It offers robust security features, giving you an extra layer of protection.
Increasingly mainstream. Apple Pay is being accepted by more and more brokers all the time.
Cons
High fees. Transaction fees often range around 3%, with additional fees sometimes popping up depending on the size of the transaction.
Limited purchase size. Some platforms have trading limits, so make sure to check you can make transactions that are large enough to satisfy your needs.
One way to do so is to use one of the peer-to-peer marketplaces (similar to eBay) that offer you the option remain anonymous; just beware of potential scams. It’s often more expensive do this than it is to verify your identity.
How fast is buying with Apple Pay?
The speed may vary, depending on if you use a broker or another service, such as a major cryptocurrency exchange or a peer-to-peer exchange.
In general, though, you should be able to find reputable brokers and exchanges that execute transactions in a matter of minutes, and other services that can facilitate instant purchases.
Do I need a crypto wallet?
Not always. Online brokers and exchanges will usually allow you to store your coins in your account without the need to transfer to a personal wallet. However, some services will require you to enter an already existing wallet address to send the coins to, and for security reasons it is recommended that you move any coins you’re not planning on selling or trading in the near future to an external wallet – ideally a hardware wallet.
Are there low fees when using Apple Pay to buy Bitcoin?
It’s usually a bit cheaper than, say, American Express. Still, it’s all relative. Take the time to research the multiple different ways you can use Apple Pay, as the size of the fees involved can vary. That said, a typical fee will be around 3%.
Can I hold cryptocurrency in my Apple Pay account?
No, you cannot. Apple Pay simply links to your credit or debit card. It does not hold cryptocurrencies.
Can I get other cryptos using Apple Pay?
Yes. Other available cryptocurrencies include Ethereum and Litecoin. Check the exchange, peer-to-peer marketplace, brokerage website, or app that you prefer to check which ones it offers.
Are Apple Pay transactions instant?
In certain cases, yes. Certain crypto marketplaces such as Paxful enable instant Apple Pay purchases. Just keep in mind that such services often charge higher fees.
Is Apple Pay the easiest way to get Bitcoin?
It’s certainly up there. Apple Pay’s easy-to-use interface means it’s one of the simplest methods to use.
Does Coinbase accept Apple Pay?
As of now, Coinbase doesn’t yet accept Apple Pay.
What’s the biggest pro and con of using Apple Pay on a peer-to-peer exchange?
There’s no ID required to set up your trading account on a peer-to-peer exchange, so that’s a huge plus if you want to start buying immediately. The biggest con, though, is that peer-to-peer exchanges are more vulnerable to fraud.
How easy is it to find a peer-to-peer exchange that accepts Apple Pay?
In major financial centres such as the United States and the UK, you’ll have no trouble at all finding peer-to-peer exchanges. Countries with emerging economies are less likely to offer that option.
What’s a well known cryptocurrency marketplace that does not accept Apple Pay?
Coinbase sits at the top of the list. But there are multiple other prominent crypto exchanges and brokers that don’t yet allow you use it.
Is using Apple Pay recommended for beginners?
With a typical initial transaction fee around 3%, a beginner will need to understand that they must make at least that much on his trade just to break even. On the plus side, Apple Pay is easy to use, and in some cases you can even execute your trade instantly.
Is using Apple Pay a more viable strategy if you plan to hold Bitcoin for a while?
You can make that argument, yes. Bitcoin can be volatile, so an instant profit is no guarantee. The good news is that Bitcoin’s long-term trend points upwards, so a patient buy-and-hold approach can allow you to recoup your transaction fees and hopefully turn a healthy profit over the long haul.
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Jonah Keri is a trader and analyst who spent 11 years at Investor's Business Daily covering the markets. He now writes about stocks, cryptocurrencies, and other…
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