In 2019, Apple hinted that it had been closely monitoring the blockchain and cryptocurrency industry. This led to the conclusion that the global payments and electronics giant were on its way to unveiling its own blockchain platform or cryptocurrency. But it was quickly dismissed by Tim Cook, Apple’s CEO. In a recent SEC filing, the company is seen to be performing some intense research into blockchain technologies. Their platform has been instrumental in helping people discover and explore the world of cryptocurrencies through its Apple Pay and Apple App Store.
In using Apple Pay, hundreds of thousands of people can buy cryptocurrency using their debit and credit cards at approved brokers. Their app store has also been instrumental in the smooth transaction to buy and sell cryptocurrency. There is patronage despite the large volume of downloads for the Binance and Coinbase app. Paul Tudor Jones also shares the same strong bullish trends on Bitcoin. He explained in an interview:
“I like Bitcoin even more now than I did then. I think we are in the first inning of Bitcoin and it’s got a long way to go. Bitcoin has this enormous contingence of really, really smart and sophisticated people who believe in it.”
Here is why Apple users are getting into the crypto-trading business.
Apple users and cryptocurrency
It’s a well-known fact that Apple products represent the best in technology and performance. That is why all their products, from the smallest of gadgets to their flagship products, have a premium price tag to them. Most of these people have a bit more spending power than their counterparts on the budget section of devices. Hence, a good percentage will likely participate in online trading and investments. Although most of them are into traditional markets such as stocks, bonds, currency, and derivatives, a good number have identified cryptocurrencies as an opportunity. This to diversify their portfolio and gain better returns on their investments.
Trading in cryptocurrency today is a big business. Investors have recognized this and are betting heavily on it. Decentralized finance (DeFi) is quickly gaining traction worldwide, as many see it as the future of banking and finance in general. To facilitate this, several cryptocurrency platforms have endeavored to integrate Apple pay onto their platforms. This is to make it much easier for people to purchase any digital assets such as Bitcoin.
The allure of cryptocurrency trading
Before anyone who wanted to invest in the financial markets would either need to be an accredited broker or investor. These people hoarded the knowledge of financial markets and investments to always be needed in that regard. The process became much simpler with online brokerages but it wasn’t until crypto-trading platforms were created. During this time, self-sufficient trading opened to the world.
Cryptocurrencies are not controlled by any one person, government, or organization. This is entirely different from fiat currencies such as the euro (EUR) or US dollar (USD). Since these digital currencies are issued by a protocol and maintained by a distributed ecosystem of nodes and miners. That is why traders have complete control of their funds. They can trade without worrying about jumping through certification approvals and regional restrictions. What’s more, people can trade by themselves without needing oversight by a company.
However, the biggest attraction when it comes to cryptocurrencies is just how profitable they can be. Cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) were declared as the decade’s most profitable assets. Many of these digital currencies have realized a massive growth in value from the time they were adopted. Some investors who have stood by these assets have seen more than 10,000% profits. Due to the price volatility, they create ideal conditions for prompt investors. What’s more, innovation from different business sectors such as banking, hospitality, technology, and so many others has seen blockchain technology go through a tremendous shift. This makes the systems better. It also encourages people to have confidence in these systems which results in an increase in their value.