- Google Pay can be used to buy cryptocurrencies like Bitcoin in exchange for fiat currency.
- Users who have an account set up on both platforms can easily buy BTC with a straightforward process.
Bitcoin is the world’s first and most popular cryptocurrency that gained quick and significant traction after its inception in 2009. Till now, this currency has been dominating the crypto market with its value and popularity. A user interested in BTC can invest or trade it anywhere across a decentralized landscape, but now it has several exchange options not only on blockchain but also on some centralized platforms. This convenience is provided by Google Pay (G-Pay) as it enables a straightforward and accessible way to purchase one.
Platforms Accepting Google Pay
Users can buy several cryptocurrencies via G-Pay as a payment service. Across so many crypto exchange platforms, few of them support this exchange on behalf of fiat currencies. Some major crypto exchanges, such as eToro, Kraken, Coinbase, OKX, and many more, are supporting features to exchange fiat currency via Google Pay. Users can opt for their preferred choice among so many reliable options.
For instance, a few platforms have higher transaction fees and strict know-your-customer (KYC) protocols that could be a little inconvenient for some users. These straightforward features enable only a few of them to easily purchase Bitcoin. As some platforms support G-Pay, some exchanges accept Apple Pay only.
Step-by-Step Guide to Buy Bitcoin via Google Pay
Some platforms have initiated fiat acceptance as a means of payment in exchange for cryptocurrencies. Users can harness this feature to buy popular cryptocurrencies like BTC, ETH, and many more. Here we have mentioned a step-by-step guide to buying Bitcoin using G-Pay.
Search for a Website Supporting Google Pay
Initially, you must select a supporting platform that enables Bitcoin purchases via Google Pay. There are numerous platforms, such as Coinbase, OKX, and Xcoins. These platforms let you compare charges, attributes, and accepted currencies. After selecting a preferred platform, you have to sign in for an account and verify your identity. Some personal information is required, including a photo ID, to abide by KYC norms and anti-money laundering (AML) rules and regulations.
Register a G-Pay Account on the Official Platform
You have to link your Google Pay account with the preferred website you have chosen. Registering a bank account or debit card on G-Pay is a necessary step. Further, you have to navigate to the platform’s deposit page and select Google Pay as a payment option. After entering a preferred deposit amount, the user must verify the transaction. After entering G-Pay’s pin or biometric, authentication or authorization of the transaction is done.
Use the Deposited Amount to Purchase BTC
After depositing a preferred amount, you must spend your deposit to purchase BTC. Go to the official platform’s purchasing page and choose your preferred crypto to buy. Enter the amount you want to exchange on behalf of Bitcoin. You must review the order information and further verify the transaction. G-Pay PIN and biometrics have to be entered again for payment authentication.
Go for a Safe Bitcoin Wallet
The last step includes the storage of Bitcoin in a safe wallet. The Bitcoin wallet provided by the platform is safe, or else you can transfer it to another preferred wallet. This wallet can be any hardware or software wallet that enables the transfer, storage, and receiving of cryptocurrency. Mobile, web, desktop, or paper wallets are some of its examples. You can opt for your preferred ones.
