In order to facilitate the purchase of cryptocurrency for UK users, the cryptocurrency exchange Coinbase has announced the integration of ApplePay functionality. This development allows users to directly use ApplePay on their iPhones to purchase Bitcoin and other digital assets.

Implementing ApplePay to ensure more secure transactions

Coinbase states that enabling ApplePay provides users with a "more secure and private" way to purchase cryptocurrency. The exchange emphasizes that when using ApplePay for transactions, card numbers are not stored on the device or Apple servers. Instead, a unique device account number is assigned, encrypted, and stored in a chip designed to protect payment information.

Coinbase recently reported a decline in cryptocurrency trading volume as the market searches for new narratives to drive price increases. While the upcoming Bitcoin halving event may trigger price increases, the exchange acknowledges the challenges of navigating soft periods in the history of risk assets like cryptocurrencies.

Daniel Seifert, Coinbase's UK Country Manager, states that the new integration helps make digital assets more easily accessible in the country. He says, "We know users already enjoy using ApplePay in their daily lives, so bringing this convenient payment method to Coinbase makes sense."

Decline in cryptocurrency social media engagement

In addition to trading volume, data on social media engagement shows a decrease in retail interest in cryptocurrencies. Social analytics platform LunarCrush observes a decrease in posts related to Bitcoin, Ethereum, and other cryptocurrencies on social media platforms. LunarCrush CEO Joe Vezzani notes that even when accounting for spam and bot activity, social interactions in the cryptocurrency space are lower than during previous bull markets.