How to buy Bitcoin with Apple Pay

Yes, you can, but not with every platform.

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.

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.

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.

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%.

No, you cannot. Apple Pay simply links to your credit or debit card. It does not hold cryptocurrencies.

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.

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.

It’s certainly up there. Apple Pay’s easy-to-use interface means it’s one of the simplest methods to use.

As of now, Coinbase doesn’t yet accept Apple Pay.

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.

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.

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.

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.