TL;DR Breakdown
• Apple Pay could incorporate payment in cryptocurrencies.
• Amazon, Uber, and Starbucks accept payments in cryptocurrencies.
A job announcement by Apple kicked off the crypto rumors in the week. Crypto enthusiasts have suggested that the tech monster might be planning to work with cryptocurrencies. If the speculations are correct, Bitcoin and other cryptocurrencies can increase their value and trust.
Coinbase was the first to discover the list of a development manager who would lead the alternate payments section of the company. Candidates had to have over five years of experience in alternate payments, including wallets, BNPL payments, and purchase services.
The publication created speculation about Apple and its intention to enter the cryptocurrency market. If the company does, this will give cryptocurrencies more global acceptance.
Apple and its close relationship with cryptocurrencies
Mobile wallets have increased, as has the number of investors accepting these payments. eMarketer advises that Apple Pay is the best payment alternative for American citizens. The app has over 44 million users and can grow to 60 million before 2025.
Although the tech company has had a close relationship with cryptocurrencies, it may be changing its mind. By 2013, the company banned the use of crypto wallets on iTunes. However, years later, Apple removed that measure, but still does not accept mining applications.
Cryptocurrencies may increase in value with Apple news
Bitcoin, like other cryptocurrencies, may increase in value with Apple’s announcement. Using new mobile wallets by a multilevel company would suit cryptocurrencies well.
Perhaps cryptocurrencies needed the support of an application like Apple Pay, which is widely accepted. Cryptocurrencies can reduce their volatility by increasing their acceptance and avoiding the thousands of strenuous locks imposed. Speculation on crypto could get lower and lower, which will standardize the value of Bitcoin, Ethereum, and Dogecoin.
American brands like Starbucks, Uber, and Amazon have been in the crypto market for a few months. These companies are accepting cryptocurrencies as a payment method through tertiary Apps such as Bakkt and Bitrefill. If the technology company joins, it may be associated with these renowned brands in the coming months.
PayPal has also entered the game by letting its users buy cryptocurrency. Gradually, Bitcoin has become widely accepted, although it is also repudiated.
Regulations imposed by the governments of China and India have slowed the growth of cryptocurrencies. These are ups and downs in the decentralized market, although for now, it has a good group of investors. Shortly, other technology companies will join this movement due to the benefits that this marriage with cryptocurrency promises.
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