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Key takeaways:
- Apple Pay and Google Pay have been added as payment alternatives, according to Binance.
- An essential step towards increasing the service’s accessibility.
The exchange has updated Binance Build to provide the ability for customers to purchase cryptocurrencies using both Apple Pay and Google Pay.
In addition, the disclosure indicates that customers can utilize these well-known payment options to buy the cryptocurrency the exchange offers.
The step is essential for boosting both the service’s usability and the acceptance of bitcoin investment by the general public. Additionally, the update was published with comments from users confirming that they had actually utilized the function and that it had been successful.
Users can now buy cryptocurrency using their mobile wallets from Google Pay and Apple Pay. “Purchase crypto, with ease,” the exchange said.
The significance of payment applications has grown significantly in the financial sector in recent years. Consumers are using these applications more often than ever before, and they have been continuously incorporated into the bitcoin industry.
They are thus being heavily used by the most prominent bitcoin trading platform in terms of volume. The news that consumers may now buy cryptocurrency with Apple Pay and Google Pay was disclosed by Binance in their most recent Tweet about Binance Build.
The possibility for a sizable market share of people interested in digital assets is undoubtedly made possible by the fact that both mobile wallets are among the most widely used on the market.
According to Business.com, there are 43.9 million users of Apple Pay alone. However, according to the same statistics, Google Pay has 25 million users, making it the leading and second most popular digital wallet overall.
A rise in the accessibility of digital assets to a broader audience is also represented by the entry of these mobile wallets into the cryptocurrency industry.
Therefore, this kind of update can potentially attract the most significant number of new users to Binance and the cryptocurrency market as a whole.
It is advantageous for the platform and cryptocurrency in general, given that Binance has millions of users globally. The majority of people still find it difficult to buy cryptocurrencies, but that will change moving forward.
So, this action will also increase crypto adoption. However, keep in mind that you would only have access to the payment choices if Apple Pay and Google Pay services were available in your nation.
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