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Coinbase adds Apple Pay for crypto purchase

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Coinbase has added Apple Pay for crypto purchase, enabling its users with new, more user-friendly payment and withdrawal options.

Coinbase, after Apple Pay comes Google Pay

According to reports , the crypto exchange wanted to expand its payment and withdrawal methods to enable the trading of cryptocurrencies.

“Today we are introducing new and seamless ways to enable cryptocurrency purchases with debit cards linked to Apple Pay and Google Pay, and instant withdrawals of up to $ 100,000 per transaction available 24/7.”

At the moment, Coinbase has already introduced Apple Pay, while withdrawals and payments via Google Pay are expected to become operational from next fall. 

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Specifically, here’s how Coinbase describes using Apple Pay:

“Apple Pay is trusted, secure and accepted in stores, online and in apps around the world using a credit or debit card with Apple Pay. If you already have a Visa or Mastercard debit card linked to your Apple Wallet, Apple Pay will automatically appear as a payment method when you purchase cryptocurrencies with Coinbase on an iOS device that supports Apple Pay or on a Safari web browser. “

Coinbase: instant withdrawals up to $ 100,000

In addition to the latest news, Coinbase also talks about its Real Time Payments (RTP) service which offers instant withdrawals , at least in the United States. Basically, with RTP, users can withdraw instantly, with linked bank accounts of up to $ 100,000 per transaction. 

“Instant withdrawals via RTP allow you to get your money back in seconds, 24/7, without the high costs of unsecured fees. Furthermore, there is no limit to the number of times you can cash out per day. “

At the moment, all the news at Coinbase are still referring to US users . They are the ones who can buy cryptocurrencies with a bank account linked via ACH or wire transfer, a debit card, funds in their Coinbase USD wallet, as well as now using funds from a linked PayPal account or an Apple-linked Visa or Mastercard debit card. Pay.

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The platform wanted to underline that this possibility could very soon also extend to more countries. For the moment, in over 20 countries around the world, Coinbase accepts crypto purchases only through linked Visa and Mastercard credit and debit cards.

Coinbase is the first crypto-exchange to be listed on Nasdaq with its COIN title Recently, some analysts have spoken about the future of COIN. Like Dan Dolev, who explained that the stock is probably destined to “pay” for the drop in volumes on bitcoin exchanges. 

According to Dolev, COIN could drop as low as $ 210, up from $ 235 today and up from $ 225 in the previous forecast. An estimated annual decline of 11.24%.

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At the same time, Coinbase CEO Brian Armstrong recently expressed his opinion on a new US crypto bill .

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Binance

Binance’s Trading Volume Hits $100 Billion in Just One Day

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Binance continues to see unprecedent trading activity while attempting to sail through regulatory hurdles

Binance’s daily volume hit an eye-popping $100 billion on Oct. 20, according to a tweet by CEO Changpeng Zhao.

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The leading crypto exchange recorded this crucial milestone on the day Bitcoin, the largest cryptocurrency, reached a new all-time high of $67,276.

Despite introducing stricter measures for users due to severe regulatory scrutiny, Binance enjoys a comfortable lead over other crypto exchanges in both spot and derivatives trading, according to data provided by CoinMarketCap.

Eerier this month, the trading platform also announced a $1 billion ecosystem fund.         

Meanwhile, the decentralized finance sector is catching up with centralized behemoths. The total value locked in DeFi protocols has hit $100 billion for the first time.

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Crypto Exchange

Binance Smart Chain DeFi protocol PancakeHunny suffers flash loan attack

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As the users argue “what’s better,” Ethereum or Binance Smart Chain, the latter saw another decentralized protocol being exploited. PancakeHunny on BSC was attacked by a flashloan and no, this wasn’t a first for the protocol.

Blockchain security and data analytics company Peckshield Inc. announced the attack on Twitter.

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The last time that this protocol was exploited, was in June, wherein the team had noted the creation of a smart contract to exploit the Hunny Minter Smart Contract. The contract was subsequently executed 91 times, as per the team.

The team took a long time to respond to the hack this time but assured the users that their funds were safe. The team added in a preliminary report,

“On 20 October 2021, at 0920 UTC. A smart contract was created to exploit the Hunny TUSD vault. The Contract was subsequently executed 26 times.”

PeckShield provided some details about the same noting,

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According to the agency, this hack was possible due to a profit inflation bug, which converts the relatively small amount of harvested ALPACA, to a large amount of TUSD for staking. PeckShield added,

“These converted TUSDs are then counted as profit, now inflated to mint large amount of $HUNNY!”

Source: Twitter

Actions taken by the team

The PancakeHunny team has stopped the minting process for the TUSD vault while assuring that funds in Hives were all SAFE. The exploit did not affect other Hives and Vaults but the price of HUNNY.

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They added that the issue has been identified and the team will change its rooting to higher liquidity pools to prevent the aftereffects of price manipulation of LP pools.

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Coinbase

NBA Makes Coinbase Its Exclusive Crypto Partner

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Coinbase has joined FTX in scoring major partnerships in the sports industry     

The National Basketball Association has announced a multi-year deal with Coinbase, America’s biggest crypto trading platform in an Oct. 19 press release.   

Coinbase will act as the exclusive partner of the NBA, NBA G League, Women’s National Basketball Association (WNBA), and other leagues. 

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As part of the deal, the exchange will have a brand presence during televised games as well as unique content and activations that are meant to boost crypto awareness.  

Kate Rouch, Coinbase’s chief marketing officer, says that the company is proud of joining forces with the NBA:

The freedom to participate and benefit from the things you believe in is at the heart of Coinbase’s mission.  Nobody believes this more than NBA and WNBA fans. We’re proud to become the Leagues’ official cryptocurrency partner.

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The shares of Coinbase are up roughly 3% at press time. 

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