Sidebar Sidebar
Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.

Bitcoin Payment Provider BitPay Adds Apple Pay Support

MacRumors

MacRumors

macrumors bot
Original poster
Apr 12, 2001
68,189
38,977


BitPay, which calls itself the world's largest provider of Bitcoin and cryptocurrency payment services, today announced that its BitPay Prepaid Mastercard is now compatible with Apple Pay for purchases in stores, in apps, and online. BitPay says support for Google Pay and Samsung Pay is planned by the end of the first quarter.

bitpay-card-apple-pay.jpg

U.S. cardholders can add the physical or virtual versions of the BitPay Prepaid Mastercard to Apple's Wallet app and start using it immediately.

With the BitPay Prepaid Mastercard, customers can instantly convert cryptocurrency into fiat currency, which is then loaded onto the card and can be spent anywhere Mastercard debit is accepted around the world. Customers can also use the card online for purchases and to withdraw cash from ATMs, according to BitPay.

To add the card to Apple's Wallet app, cardholders need to have the most recent version of the BitPay app, 12.1.0, which should be rolling out on the App Store today.

Article Link: Bitcoin Payment Provider BitPay Adds Apple Pay Support
 
Article Link
https://www.macrumors.com/2021/02/12/bitcoin-payment-provider-bitpay-adds-apple-pay-support/
  • Like
Reactions: DeepIn2U and Frixos
Honestly, I do not see how this is practical.

Every time you convert from crypto to fiat, there is a taxable event. Have fun tracking your cost basis! Your CPA will have a heart attack if you use this frequently!
 
  • Haha
Reactions: DeepIn2U
satpalram said:
A how-to/idiots guide on this would be good, MacRumours.
Click to expand...
Idiot's guide to BitCoin is basically: No, just no; don't even think about it.

It's a very volatile investment, and regularly using it as a payment method like this is questionable from a financial perspective; you are better off buying/selling big depending on the market, rather than using it as a regular transaction account.
 
  • Like
  • Disagree
  • Haha
Reactions: Blowback, CarpalMac, ignatius345 and 8 others
Wondering what the fees will be to convert to cash. Had €500 sent to me once and the bank fees and rates were ridiculous. o_O
 
Bug-Creator said:
No it is NOT























It is a casino only it isn't in the finer details.

It is a Ponzi scheme only it isn't in the finer details.

It is a pyramid scheme only it isn't in the finer details.



-> it can get you rich if your timing is good, everyone else will loose eventually.
Click to expand...
I FOUND THE RESIDENT BITCOIN ACCOLYTE!!

Please direct all your bitcoin investments needs to him, as he will tell you why bitcoin isn't a volatile investment; but just make sure that you're not an "everyone", as, like he says, they "will loose eventually".

😇
 
alexandr said:
isn't bitcoin mostly used for ransom payments? like when, for example someone installed spyware on your computer, complimented your taste in pornography and offered to send a video of you to your friends and neighbors? :))
Click to expand...
Replace the "mostly" with "sometimes", then yes.
 
  • Like
Reactions: alexandr
appleguy123 said:
I know that my biggest problem with buying anything with Bitcoin is that the transaction fee alone is nearly $20. Does this card avoid that fee when exchanging Bitcoin for fiat?
Click to expand...
No. Their web page says that miner fees apply. In addition, there may be fees baked into their BTC/USD exchange rate. I don't really understand why this card exists, it doesn't make much sense from the consumer perspective.

BTW, the miner fee is variable, depending on current transaction volume and on how fast you want your transaction to be processed.
 
svanstrom said:
Idiot's guide to BitCoin is basically: No, just no; don't even think about it.

It's a very volatile investment, and regularly using it as a payment method like this is questionable from a financial perspective; you are better off buying/selling big depending on the market, rather than using it as a regular transaction account.
Click to expand...
Well .. Australia is planning their banking financial architeture on blockchain by end of 2021 so it's possible other countries will follow rapidly thereafter.

how many countries still base their monetary system on Gold?
how many countries can avoid the upcoming debt and financial crash due to covid economic shutdowns?

we'll see what the future holds but honestly I think it's stable enough - to justify 3 coins and the underlying Blockchain infrastructure (yet not use people's PC's in small trailers and such).
 
DeepIn2U said:
Well .. Australia is planning their banking financial architeture on blockchain by end of 2021 so it's possible other countries will follow rapidly thereafter.
Click to expand...
Yes, many institutions are considering blockchain-based clearing systems. But that doesn't mean it will be the same as Bitcoin. It could be a digital currency that is pegged to fiat currency. I wouldn't want to depend on something as volatile as BTC for day-to-day transactions.
 
  • Like
Reactions: Dozer_Zaibatsu and svanstrom
DeepIn2U said:
Well .. Australia is planning their banking financial architeture on blockchain by end of 2021 so it's possible other countries will follow rapidly thereafter.
Click to expand...
The US will do it in about the year 2040 or so (that is, after everyone else has done it as seems to be usual). Hell, it took a pandemic to get people to finally start using Apple Pay in the first place, so "not adopting blockchain at all" is in the cards too.
 
I bought $10 worth of bitcoin in 2009, which is worth just over 1.8 million today. The early adopters that stuck with it have benefited most. The stranglers... not so much.
 
Yes its very volatile, in 2009 it worth 0.0001 and now its 50K. Damn that volatility its painful....
Bitcoin is never going to be a currency, but a store of value and investment. But I don't see the problem of people that have crypto and want to spend it, to do it with apple pay or any other method. You can always continue with your debasing dollar, being ripped out day in and day out and let the rest of us that know something you don't, earn a pretty penny.
So easy.....
 
That toxic, aggressive, greed-based, anti-earth, always asking for attention community should not receive adoption they are hungry for. If you want to become opposition to monetary authorities and experience mental agony - this rabbit hole is for you.

If Apple invests against fiat money I’ll sell all my Apple devices and exercise GDPR rights.

Happy to be aware Tim Cook is not comfortable with the idea of competitive currencies controlled by private groups. I wish Apple bans all cryptocurrencies related apps from App Store as it the door to dark markets and anarchy.

PS keywords so you don’t even bother to start a dispute: carbon dioxide, quantum computer, 51% attack.
 
  • Haha
  • Disagree
Reactions: NightGeometry, techguy9 and freedomlinux
NunoAlves said:
You can always continue with your debasing dollar, being ripped out day in and day out and let the rest of us that know something you don't, earn a pretty penny.
So easy....
Click to expand...
Ahem. So you basically went out of your way to create an account just to cry out about wanting to be left alone with what you're doing; did I get that right? That doesn't sound particularly easy of you.
 
You must log in or register to reply here.
Register on MacRumors! This sidebar will go away, and you'll see fewer ads.
Top Bottom
Back