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Ethereum soon to be a payment option on Apple Pay

Ethereum soon to be a payment option on Apple Pay

Quick take

1 minute read

  • It could be soon in the near future when bitcoin and Ethereum are able to be used through the Apple Pay payment service. 
  • This is due to the cryptocurrency start-up known as Lumi.

It could be in the near future when bitcoin and Ethereum are able to be used through the Apple Pay payment service. 

This is due to the cryptocurrency start-up known as Lumi.

In Lumi’s iOS wallet, a new feature would allow investors to purchase crypto-related assets through Apple Pay. Bitcoin and Ethereum are just two of the currencies that would be up for grabs.

It would also include USD coin, Tether, Gemini dollar, Paxos standard token and wrapped Ethereum, to name a few.

The United States-based users of this wallet would be limited to $500 purchases on a daily basis. Plus, $500 a week and $5000 a year.

This is great for crypto adoption. I can’t tell you the number of times I’ve gone to the shops and forgotten my wallet but thankfully, due to Apple Apple Pay, I’m able to pay for my goods and services. 

Through the use of cryptocurrency like ethereum, this could be even better. Opening up to a brand-new audience to currencies such as bitcoin and ethereum would be great for mainstream adoption.

Not everyone in the world is going to be open to this New payment option though. People in Vatican City, Ukraine, Monaco, Romania, Russia, China and more will not be able to use this new feature.

With Apple Pay being the biggest mobile payment provided around the globe, this is certainly going to be interesting to watch.

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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