Google Pay is one of the most popular online payment methods globally, which is developing online, and many online sellers also accept this payment method. Is it possible to buy cryptocurrency with Google Pay?
Many reputable cryptocurrency exchanges now support Google Pay, and you can easily buy and sell bitcoins with Google Pay. But in the following, we will introduce the best way to buy and sell cryptocurrencies through Google Pay.
How to buy cryptocurrencies with Google Pay
Countless exchanges support the Google Pay method. CoinKong, Binance, and LongHorn, for example, are among the platforms where you can buy and sell different cryptocurrencies for a lower transaction fee.
What is a Google Pay digital currency trading platform?
One of the most attractive platforms in the digital currency markets is the Google Pay Bitcoin broker, which allows you to buy and sell digital currencies while supporting Google Pay payments. More broadly, a Bitcoin broker is a platform that acts as an intermediary between transactions between coins for you. If you have connected your credit or debit card to Google Pay, a Google Pay broker can deposit money into your account faster and easier.
How to deposit and withdraw via Google Pay?
Deposit
Bitcoin brokers and exchange offices offer different ways to deposit. However, there is a general trend in each deposit that can be divided into the following steps:
- You must first create an account and authenticate it using the photo ID form.
- Go to your broker’s website and then select the Google Pay option on the Add money page.
- You will then be allowed to connect your Google Pay account to your broker account.
- Enter the desired bitcoin amount and then select Google Pay to pay to enter the payment page.
Withdraw
You have two options for withdrawing. If you have previously used Google Pay to make a deposit, you can click on withdraw on the website to complete the transaction faster. If you have not used the Google Pay option, you must select a withdraw method based on the methods mentioned above.
What features should every bitcoin broker have?
To choose a broker as a digital currency trading service, you must pay attention to the quality of the service and its capabilities and facilities. However, there are many standards for choosing a broker that we describe below:
Deposit and withdrawal costs should be as low as possible. When doing digital currency trading, you pay a separate fee to buy Cryptocurrencies or even withdraw at each broker. You should pay attention to choosing a broker that has the lowest amount of withdrawals or deposits.
The speed of a broker in performing the transaction is also very effective in choosing it as your cryptocurrency broker. A platform must be able to buy and sell or pay as quickly as possible.
Brokers are more successful if they are easy to use. You should never spend your time with brokers that have fewer features and are harder to use. The best option is the simplest option.
Check and see what views the broker you choose has. From the users’ point of view, is this platform reliable or not? The more positive feedback there is, the better the choice!
Trading platforms must have worked in the market for a long time. Therefore, the amount of time to build the platform can also be an option to determine the quality.
Advantages and disadvantages of buying and selling a digital currency with Google Pay
Pros
The speed of buying and selling and simplicity with this method is very high, and it is one of the most convenient payment systems in the world.
Many banking portals support Google Pay, and many financial institutions around the world approve of this payment method. So you can make a variety of payments at once with a credit card.
Increasingly, from 2019, cryptocurrency trading platforms will accept Google Pay and allow users to pay from such a system. So Google Pay has become one of the most widely used payment services right now.
Cons
Of course, its disadvantages include non-acceptance in all countries. If such a payment system is not accepted in your country, it is better to choose other alternative methods.
The security of this application is high, but its transactions are traceable and are done under the supervision of the US banking system.
Do you need a digital wallet to buy and sell cryptocurrencies with Google Pay?
It’s not always like this. Online brokers do the trading themselves and allow you to buy and sell without depositing in your wallet. However, some services will ask you for the wallet address to send the coins to that address.
Now it is better to use Cold or hardware wallets like Trezor or Ledger instead of software wallets.
Conclusion
Google Pay is one of the best and easiest ways to buy and sell cryptocurrencies in exchanges and digital currency trading platforms. Many of these services now accept payment with Google Pay and allow you to receive an order in different currencies. What do you think about this payment method? Have you ever used it?