Image via Koshiro K / Shutterstock.com
Both Google and Apple have teamed up with cryptocurrency exchange Coinbase, enabling users to make cryptocurrency transactions on the brands’ payment apps.
Users of Google and Apple Pay can now add the Coinbase Card to their mobile payment apps, allowing them to purchase goods and services using cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin via their smartphones.
However, if you’ve yet to sign up for the Coinbase Card, you’ll have to join the waitlist on its site. The digital wallet has also announced it’ll be giving up to 4% of cryptocurrency rewards to those who add the card to Google or Apple Pay.
As per the Entrepreneur, Coinbase works by converting cryptocurrencies into legal tender, such as US dollars.
Depending on the type of transaction, users are also liable for a fee or commission, which is given in more detail here. While users will pay in cryptocurrencies, merchants will still receive the payment in legal tender.
As of now, this new feature is only available to select Google and Apple users in the US. After the trial phase, it’s possible that the tech giants will roll out this function to users globally.[via Entrepreneur, cover image via Koshiro K / Shutterstock.com]
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