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Personal Finance · head to head

Apple Pay vs MakerDAO

Apple Pay logo

Apple Pay

Personal Finance

The easier way to pay and send money

From
Free
Rated
-
Full reviewWebsite
MakerDAO logo

MakerDAO

Cryptocurrency & Blockchain

The decentralized stablecoin protocol

From
Free
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Apple Pay apple Pay works only in countries and regions that support contactless payments and is not available in all markets; MakerDAO makerDAO is governed as a decentralized autonomous organization by MKR token holder vote rather than a vendor, so it has no company-set price list, subscription tiers or sales contact; access and fees (stability fee, liquidation ratio) are set by on-chain governance vote rather than published as a product price
  • They diverge on capability: Apple Pay covers Digital wallet, MakerDAO covers DAI Stablecoin.

Where they differ

Only the attributes on which Apple Pay and MakerDAO actually diverge.

Attributes where Apple Pay and MakerDAO differ
AttributeApple PayMakerDAO
PlatformsIOS, WatchOS, MacOSWeb
CategoryPersonal FinanceCryptocurrency & Blockchain
Founded20142015

Identical on both: starting price (Free), pricing model (free), free tier (Yes), user rating (Not yet rated).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Apple Pay

  • Digital wallet
  • Secure payments
  • Contactless transactions
  • P2P money transfers
  • Credit cards
  • Debit cards
  • Bank accounts
  • IOS support

Only in MakerDAO

  • DAI Stablecoin
  • Vaults
  • Stability Fees
  • Liquidations
  • Governance
  • MKR Token
  • DAI
  • Spark Protocol

What people use each for

The jobs each tool is most often brought in to do.

Apple Pay

  • Contactless in store payment from iPhone and Apple Watchnot MakerDAO
  • Paying in apps and on the web without entering card detailsnot MakerDAO
  • Sending money between Apple users with Apple Cash and Tap to Cashnot MakerDAO

MakerDAO

  • Definot Apple Pay
  • Stablecoinnot Apple Pay
  • Lendingnot Apple Pay

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Apple Pay

  • Apple Pay works only in countries and regions that support contactless payments and is not available in all markets
  • Apple Cash is available only in the 50 United States, the District of Columbia and Puerto Rico
  • Apple Cash Family accounts and Tap to Cash transactions are each capped at 2000 USD within a rolling seven day period
  • Mac support requires a Touch ID equipped model
  • A card works only if the issuing bank supports Apple Pay, and banks may charge their own overseas usage fees

MakerDAO

  • MakerDAO is governed as a decentralized autonomous organization by MKR token holder vote rather than a vendor, so it has no company-set price list, subscription tiers or sales contact; access and fees (stability fee, liquidation ratio) are set by on-chain governance vote rather than published as a product price

Pricing, plan by plan

Apple Pay

Free
  • FreeFree
    • Secure payments
    • P2P transfers
    • Transit passes

MakerDAO

Free
  • FreeFree
    • DAI minting
    • Vaults
    • Governance

Which should you pick?

Choose Apple Pay if

  • You need digital wallet.
  • You want to start without paying.
  • You work on IOS, WatchOS, MacOS.
  • You also want secure payments.
Apple Pay review

Choose MakerDAO if

  • You need dai stablecoin.
  • You want to start without paying.
  • You also want vaults.
MakerDAO review

Questions people ask

Is Apple Pay or MakerDAO better?
Neither clearly leads. Apple Pay starts at Free and MakerDAO at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Apple Pay or MakerDAO?
Apple Pay starts at Free and MakerDAO at Free.
Does Apple Pay or MakerDAO run on more platforms?
Apple Pay runs on IOS, WatchOS, MacOS. MakerDAO runs on Web.
Can I use Apple Pay for free?
Both have a free tier, so you can try either at no cost before committing.
What is Apple Pay best used for?
Apple Pay is most often used for contactless in store payment from iphone and apple watch, paying in apps and on the web without entering card details, sending money between apple users with apple cash and tap to cash. Of those, contactless in store payment from iphone and apple watch and paying in apps and on the web without entering card details are not what MakerDAO is typically brought in for.
What can Apple Pay do that MakerDAO cannot?
Apple Pay covers Digital wallet, Secure payments, Contactless transactions, P2P money transfers. MakerDAO covers DAI Stablecoin, Vaults, Stability Fees, Liquidations.
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