Perhaps you’ve heard of Bitcoin, Ether, Dogecoin, or any of the other numerous cryptocurrencies circulating headlines at the moment. Digital currencies are increasingly garnering mainstream attention and so it’s no surprise that big business is finally sitting up and taking notice.
Following Tesla accepting Bitcoin payments, the Apple Pay mobile payment platform will soon accept cryptocurrency via BitPay Card. A statement from BitPay CEO Stephen Pairnotes noted that support will also be coming to Google Pay and Samsung Pay later this quarter. With the big three mobile payment platforms onboard, the implication is that cryptocurrency is now ready for mainstream payments.
Cryptocurrencies have shot to popularity through a combination of concerns over fiat money devaluation, demand for anomalous internet payments, and a volatile FOMO trading environment. Elon Musk’s memes certainly haven’t dented their popularity either. With the latest news, cryptocurrencies appear to be exiting their speculative phase and garnering greater public legitimacy.
To recap, Apple Pay customers in the US (with Google and Samsung customers soon to follow) can now convert cryptocurrency into USD (via a BitPay Mastercard) in order to