Coin wallet, a secure multi-currency online wallet with user-owned private keys, is focusing on a mobile payments rollout. Their September app update will have Apple Pay, Google Pay, and Credit Card payment support for US clients.
Contactless payments via Google Pay or Apple Pay have become a boon for mobile and physical retailers since their launch in 2015. However, this payment option is still relatively new for cryptocurrency wallets that retain full user control over private keys. Coin Wallet is among the first trusted online wallets that allow its clients to purchase crypto with Google Pay, Apple Pay, or credit cards.
Google Pay and Apple Pay apps make a mobile device function as a contactless debit or credit card. To use this functionality, a phone or device has to be packed with NFC technology, a chip that allows data exchange with payment terminals. If you are an iPhone user, iPhone 6 and later versions are enabled with NFC by default. If you use Android devices, go to connectivity settings and check if you’re able to turn on NFC.
Make crypto purchases quickly
As of today, long checkouts, double conversions, and indirect transactions are the leading problems that have hindered the mass adoption of cryptocurrency as a universal payment method. To facilitate adoption and make transactions easier, Coin Wallet integrates mobile payment support. With this new feature, customers avoid double transaction fees that occur when they buy crypto on exchanges and will be able to transfer to more secure non-custodial wallets. They can also make crypto purchases quickly, on the go.
Now, to buy crypto from a phone, all you have to do is to go to the exchange tab of the Coin Wallet app, choose the preferred currency and the amount you want to spend. The pop-up menu is enabled by the partnered fintech company, which lets you go through the standard payment procedure. You have to agree with the terms and conditions and use digital wallets (Apple Pay or Google Pay). Otherwise, you can also opt for credit card payments and enter your billing credentials.
Fast and secure transactions with Coin Wallet
From now, the Coin Wallet app offers its clients a full spectrum of cryptocurrency operations, including the instant purchase of crypto, as well as the ability to exchange, send, and receive transactions. While Google Pay and Apple Pay support is the new feature, the wallet has a long-time partnership with cryptocurrency exchanges, Changelly and ShapeShift, allowing users to make seamless exchange transactions via built-in interfaces.
Coin says its priority has always been ensuring that clients can process all operations quickly and securely at the same time. The wallet is protected with AES-256 encryption, BIP 39 passphrase encryption, and a 4-digit PIN login to protect crypto assets from possible cyber-attacks and malware. The app always changes addresses and does not ask for any personal data such as a user ID or email.
It should be noted that Google Pay and Apple Pay use a virtual account number to process payments, and billing details are never shared with a seller. Therefore, instant purchases enabled through these apps are more secure in comparison with credit card payments where personal information such as first name, last name and date of birth must be entered. Even though you may disclose this information when making credit card payments, Coin does not store your credentials on centralized servers or associate links between your wallet and transactions you’ve made.
Coin Wallet provides the highest level of payment security while offering broad functionality such as in-app crypto purchases and exchanges. With just a few clicks, users will now be able to use a credit or debit card to buy any of more than 20,000 crypto tokens currently supported by Coin.
This article was first published on: Sep 3, 2019