Apple looking at adding Apple Pay support for cryptocurrency

This was huge news for the mining industry and had people questioning whether Mac devices would be the next coveted device for miners. This is good news for those who want to give crypto mining a go without spending hundreds or thousands of dollars on new hardware. After all, the most financially draining part of typical crypto mining ventures is the setup, as ASICs and GPUs can be very pricey. Other smartphone brands are already adding features into their phones to attract crypto users. HTC is one such example with its Exodus product, a blockchain-powered smartphone that allows users to store private keys.

iPhone—iWatch—ethereum

1. The developer, Rainbow Studio, Inc, indicated that the app’s privacy practices may include handling of data as described below.
2. Maybe someday, they’ll release something similar to the fictitious Apple Pay Vault described here.
3. Apple is in a unique and powerful position to best support crypto today.
4. Apple dominates the world of tap and go payments and with more than $200 billion cash in hand, they could shake up the fintech world with an Apple Card expansion, checking accounts, international payments, and crypto wallets.
5. So, mining with an M1 Silicon-powered device could be an option if you don’t want to buy additional hardware.

People might not even need to know how crypto technology works behind the scenes. In February of 2022, Apple unveiled its new Apple Pay feature that will enable millions of merchants across the U.S., to use their iPhones to seamlessly, instantly, and securely accept payments simply by tapping their iPhones. It’s called Tap To Pay and it can also be potentially used to transact crypto. Perhaps one of the most notable mentions of crypto from Apple was in September 2019. When Apple Pay’s VP Jennifer Bailey said the company was “watching cryptocurrency” and strongly believes it has “interesting long-term potential.”

In short, Coin Wallet is an app that provides its users to directly access blockchains with a user-friendly interface. With this integration, crypto traders are now able to not only transact with better security but also with more ease. Overall, mining cryptocurrency using the M1 and M2 chips isn’t ideal, though it still is possible. So, if you’re simply curious about leveraging your Silicon chip for crypto mining, you could give it a go, iethereum apple but note that this is not a venture suitable for those looking to make an adequate income stream.

This is especially good news for those who frequently do crypto transactions. If you’re curious on how to do some basic crypto transactions on your digital wallet, read on to know more. Though the M2 is an improved version of the M1, with a notably higher processing speed, it is by no means designed for crypto mining and still does not offer a high enough hash rate to make significant daily profits. In early 2021, a software engineer managed to mine Ether using an M1 chip (as it is a GPU-friendly mining option).

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As Tim Cook said, Apple thrives in its culture of secrecy, so less likely. However, we know one thing for sure, Apple never backs down on innovations that have the range to change people’s lives for the better. For instance, they don’t refer to their users as “users”, but instead as “humans”. As highlighted in their human interface guidelines, which is a guideline adopted by people that work at Apple. Specifically, Apple’s iPhone could be the key not only to onboard people into crypto, but to also help them understand the possibilities of transacting on a decentralized, permissionless, and transparent network.

Worldwide reach and cult-like following

Apple dominates the world of tap and go payments and with more than $200 billion cash in hand, they could shake up the fintech world with an Apple Card expansion, checking accounts, international payments, and crypto wallets. Apple is a $2.7 trillion cap behemoth with more than 1 billion active iPhone users as of February of 2022. This means billions of people follow their software and hardware ecosystem and hundreds of thousands of people wait in excitement for their Keynote events and product releases. Though still in the early innings, there are strong signs that crypto and blockchain use cases are gaining prominence through mobile phones.

Opera, the world’s first blockchain-enabled browser, announced this year that users can now buy Bitcoin and Ethereum through their browser. In partnership with Wyre, a US cryptocurrency-brokerage firm, Opera now has a built-in crypto wallet that allows its users to directly do crypto transactions in it. Using an M1 chip will not be possible if you’re considering mining Bitcoin. This is because Bitcoin mining is now only possible with ASIC miners that have significantly higher hash rates than that offered by the M1. While Bitcoin mining is theoretically doable using GPUs, they are generally no longer a feasible option for generating adequate profits. You also won’t mine Ethereum using an Apple M1-powered chip, as Ethereum mining is dead post-Ethereum 2.0 Merge.