Last year, Apple indicated that it has been watching the cryptocurrency industry’s progress closely, making folks to theorize that the global tech giant was planning to launch its cryptocurrency blockchain platform.
Though Tim Cook, the Apple CEO, promptly dropped this prospect collection, is studying blockchain technologies in a recent SEC filing and operates two major platforms that have helped possibly millions of people gain exposure to cryptocurrencies — the Apple App Store and Apple Pay.
Within the App Store, hundreds of thousands of users have downloaded cryptocurrency trading apps for hot exchange platforms like Binance, KuCoin, Coinbase Pro. In contrast, Apple’s payment and wallet service — Apple Pay — has permitted people to directly purchase cryptocurrencies using their credit and debit cards at supported brokers.
Here’s why cryptocurrency trading apps are so popular with Apple product users.
Fortune and Crypto Investments
It’s no secret that Apple products are commonly used by well-to-do, prosperous individuals with excess funds and don’t mind paying above the odds for quality. As you might foresee, a fair lump of these users also participates in online investing and trading, using their mobile devices as their portal to access online markets.
Even though many of these users access traditional markets, like stocks, derivatives, and commodities using their Apple devices, an increasing number turns to cryptocurrency trading as a side gig due to the expanding accessibility of cryptocurrency markets. As wealthy and affluent individuals looking to diversify their portfolio and open up new passive income streams, cryptocurrency trading, staking, and decentralized finance (DeFi) frequently crop up as an ideal option due to the high yields that can be generated by successful investors.
To help make cryptocurrency trading more accessible to Apple Pay users, several blockchains and crypto platforms have recently begun integrating Apple Pay as a payment option either for digital assets or for access to premium trading services and features. At the same time, many have released apps that can be downloaded from the Apple App Store.
The most recent of these is NewsCrypto. This platform helps investors understand the fundamentals of cryptocurrency trading and provides the tools and insights traders use to identify lucrative trading opportunities. With the addition of Apple Pay as a payment method, NewsCrypto users can now purchase NewsCrypto Coin (NWC) tokens using their Apple Pay wallet.
NWC tokens can be used to unlock additional tools and insights on the platform through a membership plan or can be traded on various exchanges — or even staked for up to 30% APR.
Why Trade Cryptocurrency?
Before the advent of cryptocurrencies, anybody looking to invest in financial markets would typically need to be either an accredited investor or go through a broker to gain exposure to financial instruments like shares, indices, bonds, and more.
Though this was made much easier thanks to online brokerages, it wasn’t until the appearance of cryptocurrency trading platforms that truly self-sufficient trading was opened to the masses.
After all, unlike fiat currencies like the US dollar (USD) and euro (EUR) or shares listed by centralized stock exchanges, cryptocurrencies are issued by a protocol maintained by a decentralized ecosystem of miners and nodes. Because of this, cryptocurrency traders have true self-sovereignty of their funds and can trade without regional restrictions or jump through hurdles first.
But more than this, cryptocurrencies have proven to be the most profitable asset class of the last decade, as popular cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and dozens of others achieved growth that was unmatched by any other speculative instrument during the same period — reaching more than 10,000% profit for some of the earliest investors and traders.
Due to their volatility and the rapid development of the cryptocurrency industry, there are now numerous ways to trade cryptocurrencies, which allows investors to dive in to test the waters with simple brokerage platforms like Coinbase before moving on to spot exchanges and derivatives trading platforms to pursue higher rewards (with higher risks).