Coinbase + Apple Pay

Fiat-to-crypto purchases just got easier!

Author

Daniel Akpobare
December 03, 2024

In partnership with

GM Explorer,

Say goodbye to hassle and hello to a faster end-to-end experience in which fiat-to-crypto conversions take seconds, thanks to Coinbase’s integration with Apple Pay.

Here’s what we got for you today:

  • 💃 Coinbase + Apple Pay: Fiat-to-crypto purchases just got easier!

  • 🤑 $2 billion in Silk Road moved to Coinbase!

  • 🔎 Market Insight

  • 🧱 Around the Block: XRP has become the world's third-largest crypto, overtaking Tether’s USDT in the market cap.

💃 Coinbase + Apple Pay: Fiat-to-crypto purchases just got easier!

Coinbase is making it easier than ever to dive into crypto!

The platform has integrated Apple Pay as a payment method for Coinbase Onramp, a tool for building onramps into existing apps for fiat-to-crypto purchases.

Now, when you log into any app built with Coinbase Onramp services, you’ll instantly see the option to log in and make transactions using Apple Pay.

And according to Coinbase’s press release, you don’t have to do anything to enable the integration.

Why is this integration such a game-changer?

For one, it brings Apple Pay’s 60 million U.S. users access to the most popular payment methods.

It also simplifies converting fiat to crypto with lightweight Know Your Customer (KYC) requirements for eligible purchases.

Plus, you can enjoy free USD on and offramping.

Even more fantastic is that any app already using Coinbase Onramp will automatically offer Apple Pay as a payment option for users making eligible purchases.

This move is just part of Coinbase’s recent additions to its offerings!

For example, Coinbase Wallet launched a "Rewards Program" for USDC holders on November 20, and just a week prior, it acquired the Utopia Labs team to accelerate its on-chain payments roadmap.

Not to mention its partnership with Visa in October, which allows for real-time deposits using eligible Visa debit cards.

One thing is crystal clear: Coinbase is committed to making crypto more accessible, thus paving the way for more diverse users to explore and engage in the crypto landscape.

Want to dive deeper? Check out the full story here!

DeFi: Shaping the Future of Finance

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🤑 $2 billion in Silk Road moved to Coinbase!

The U.S. government is making moves in the crypto world again, and this time, it’s a big one.

Nearly $2 billion worth of Bitcoin (BTC) linked to the infamous Silk Road dark web marketplace has just been transferred to Coinbase Prime.

This could mean one of two things: either the government is gearing up for a massive sell-off, or it has already sold these assets.

Historically, when the government sells large amounts of bitcoin, prices tend to dip, and while today’s news has only shaved off a little over 1%, it’s still getting plenty of attention.

For some context:

The Department of Justice got its hands on over 50,000 BTC back in 2022 after arresting James Zhong, who admitted to manipulating the Silk Road system back in 2012.

Fast forward to Monday, and a chunk of that bitcoin (specifically 19,800 BTC) was moved from a government-controlled wallet tagged "U.S. Government: Silk Road DOJ Confiscated Funds" to a brand-new wallet with no transaction history before landing in Coinbase Prime, where it’s probably just chilling for now.

And you know what else?

The U.S. District Court of Northern California recently gave the government the green light to begin liquidating some or all of these assets while an ongoing legal action plays out.

The last time the feds sold off Silk Road BTC was in March 2023, when they unloaded nearly 10,000 BTC for $216 million.

So, if you’re wondering whether Uncle Sam’s crypto stash is up for grabs, the short answer is probably yes.

There are probably plans in place to sell the remaining bitcoin in chunks, with Coinbase handling the task of managing and trading these assets thanks to their partnership.

But what does this mean for the market?

Well, it could be a mixed bag. For latecomers looking to hop on the Bitcoin train, this massive sell-off could help ease some of the high demand and low supply obstacles.

But for the early birds, big investors, and institutions who have been holding Bitcoin to see its price jump, it’s probably not the best news.

That said, we can only guess at the long-term effects of this move on Bitcoin and the broader market.

As of now, reports indicate that the government still holds a staggering $18 billion in seized crypto.

So, this could just be the warm-up for an even bigger sale in the near future. Whatever happens next, it’s definitely something to keep an eye on!

You can get the full scoop here.

🔎 Market Insight

Exciting times in the market, with SUI, SEI, and TIA all showing impressive momentum!

This is precisely the kind of chart action we love to see.

Here is a quick rundown of how we got here and what we see moving forward in the market.

SEI

On November 12th, we recommended buying SEI once it broke and closed above $0.499 on the weekly chart.

And guess what? SEI closed at exactly $0.5 that week!

For those who missed that opportunity, on November 26th, we also mentioned looking for a pullback, pointing to 0.591 as a solid support level for adding to your SEI position.

Just yesterday, SEI dipped below that mark, creating a golden opportunity.

SEI is back above $0.591, currently pushing through the next major resistance barrier at $0.675

If you bought SEI when we first mentioned it in our newsletter, you'll be up about 37% today!

We think SEI could soar past $1 within the next few weeks, perhaps by late December or early January 2025.

SUI

SUI remains our biggest play, and we couldn’t be more bullish!

We see it as the potential “Solana” of this cycle.

When we first introduced SUI, it was priced at $1. Today, it’s trading at an impressive $3.725, translating to a staggering 270% surge!

…but guess what? There is more room to grow.

Looking at the charts below (SUIUSD/SOLUSD), we’ve spotted a significant head-and-shoulders pattern that SUI is currently breaking through.

If it closes above 0.0160 this week, it will confirm this breakout, suggesting that SUI could outperform SOL by as much as 288%. What a thrilling prospect!

TIA

TIA is still hovering below the resistance zone between $7.99 and $8.60. The moment it clears this range, we can expect it to swiftly climb to $11.80.

Yesterday, when TIA dipped below $7.28, it presented the perfect buying opportunity. We couldn’t resist and added to our position then.

If TIA faces another rejection, keep an eye on 0.728 as a potential support level—this could be a great chance to snag more TIA!

Let’s keep riding this wave of opportunity!

🧱 Around The Block

That's all we've got for you today.

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Catch you soon.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions.

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