How to buy crypto with Google Pay / Apple Pay

Crypto has become a viable asset attracting massive users, especially with the prospects of crypto trading being one of the ways to make considerable money online.

The popularity of cryptocurrencies is escalating and so is the number of people looking for convenient and secure ways of purchasing digital assets. 

Moreover, people who favor payment platforms such as Google Pay and Apple Pay have been on the lookout for ways to buy crypto with Google Pay or Apple Pay.

Today trading platforms enable a wide range of payment methods for cryptocurrencies. You can deposit fiat, for example, EUR, USD, and GBP, into your crypto trading account to buy crypto assets of your choice.

If you have a Google Pay or Apple Pay account and are looking for a fast, convenient, and easy way to invest in cryptocurrencies, this article is designed for you.

In this article, we discuss what Google Pay and Apple Pay are. Then discuss how to buy crypto with Apple Pay and Google Pay; giving factors to watch out for before choosing a crypto exchange/platform to trade with.

The Appeal of Buying Cryptocurrency with Mobile Payments

Why Use Apple Pay or Google Pay to buy cryptocurrency? Convenience is the top reason for buying crypto with these online payment method. You can buy crypto at any time, from anywhere; which is convenient in leveraging the fast price movements in the crypto market.

Other reasons for Google Pay/Apple Pay for crypto purchases include:

• Fast and easy transitions

• Seamless interaction through smartphones

• Enhanced security with features such as biometric authentication

Quick Overview of Apple Pay and Google Pay

Apple Pay

Maybe you’re not familiar with online payment methods and are wondering: what is Apple Pay? How does Apple Pay work?

Well, Apple Pay is used for payments in stores in a similar way to how contactless card payments work. 

First, you need to ass a credit or debit card to your Apple Pay wallet. Then you hold the device close to a store’s payment terminal. The payment is detected through near-field communication (NFC) technology. After detection, you’ll be prompted for a biometric confirmation or a passcode confirming the payment.

In the crypto space, investors can buy crypto with Apple Pay on exchanges that enable Apple Pay as a payment method. Apple Pay by Apple Inc. has become quite popular as a mobile payment service. The speed of transactions makes Apple Pay a favorite of most professional crypto traders.

Google Pay

Google Pay is a payment service offering a convenient way of making mobile payments through Android devices both online and in person.

Some of Google Pay’s key features include:

• Shop online within a few steps, you can buy something online and make payments with Google Pay 

• Google Wallet in which you can store cards and other items like tickets

• Autofills information; once you add card details and shipment information, it will fill in automatically for all future transactions

• Send Money enabling you to transfer funds to other Google Pay users

To start using Google Pay you need the Google Pay App or Google Wallet. Then, you have to add either a debit card or a credit card to the account.

Many banks and credit unions offer cards that are compatible with Google Pay. But not every card works with Google Pay at the moment, therefore, you should double-check.

Comparison: Apple Pay vs Google Pay

Although the two payment methods are competing for the same market, Apple Pay and Google Pay are quite similar:

• Both require users to upload card details to use the payment service

• Both utilize a similar tokenization method to secure personal account numbers each time transactions are made

• Both use NFC technology to enable shoppers to make contactless payments at store payment terminals.

Generally, there are no major differences between Apple Pay and Google Pay, except that each method works on different devices based on whether it is iOS or Android.

How to Buy Cryptocurrency Using Apple Pay

The first step in using Apple Pay to buy cryptocurrency is integrating a credit/debit card into the Apple Wallet on your iOS device. 

Next, select a suitable crypto exchange/platform to use. Determine whether the platform accepts Apple Pay and offers a wide range of cryptocurrencies to trade. Extensive research would help you choose a trading platform based on user-friendliness, reasonable transaction fees,, and enhanced security. Some popular examples include Coinbase, Binance, and SOPHIE.

Log into the crypto exchange/platform. If you are new, sign up and follow the verification process. Typically, this process requires verifying email addresses, setting a secure password, and presenting identification documents. It may take some days for the account to get verified.

After verification, link your Apple Pay wallet to the exchange. Navigate the payment methods section, choose Apple Pay, and follow the given directions to add your Apple Wallet. To ensure security, some steps may need further verification.

Start buying cryptocurrencies through Apple Pay. After funding your wallet, you are ready to start trading crypto. Navigate to find the ‘crypto buy’ section, and select your preferred crypto asset. Fill in the amount you’d like to spend then select Apple Pay as your payment method.

How to Buy Cryptocurrency Using Google Pay

If you have been using Google Pay, buying crypto with Google Pay will be easy for you. Consequently, if you are a first-time Google Pay user, the process is easy to comprehend.

Here is a short description of how to get started burying crypto with Google Pay:

First, install Google Pay on your smartphone or device. After installing, open it and follow the given instructions to set up your wallet. This involves adding debit or credit card information which is stored securely on the App.

Next, choose a crypto exchange. From the most popular online exchanges, choose one that meets your requirements and allows for deposits through Google Pay. Examples include; Paxful, BitPay, and SOPHIE.

Create an account. You have to register on the crypto exchange platform to buy cryptocurrencies. The registration process usually involves entering a username, email, a strong password, and identity verification.

Next, deposit funds onto the exchange through Google Pay. Go to deposit funds, choose Google Pay as a preferred payment method then confirm to deposit money. 

Lastly, buy the crypto of your choice. Once you have deposited fiat onto your crypto exchange trading wallet, you can choose a crypto asset to purchase according to how the exchange platform is designed. Exchanges have made this process straightforward and fast; meaning you can be a crypto owner in minutes after account verification.

Factors to Consider when Choosing a Crypto Exchange/Platform

One significant factor in making profitable crypto trades is picking a suitable exchange. Consequently, the chosen crypto exchange determines the ease with which you can buy crypto with Google Pay or Apple Pay.

Here are a few factors you should look out for:

Speed: Some exchanges are faster than others in completing transactions and verifications. Speed is crucial in the extremely volatile crypto space. You need to choose an exchange that is as fast as reasonably possible.

Fees: Crypto exchanges charge a commission for their services. The exchange fees are often low, but some incur additional fees for withdrawals and deposits. Try to find an exchange with lower trading fees and fewer additional fees.

Security: The exchange must have high-security measures protecting all users and their funds. It should demonstrate a record of protecting operations from cyberattacks and scams. Some security features to look for are two-factor authentication (2FA), insurance and address whitelisting.

Ease-of-use: You should find an exchange that is easy to navigate. If you are new to crypto trading, searching for a beginner-friendly platform, such as SOPHIE, is advisable. Especially because you get access to human support.

Advantages and Disadvantages of Buying Crypto with Google Pay/ Apple Pay

Advantages

Fast - Transactions made with Google Pay and Apple Pay are instant. Once you initiate a payment, the process is completed almost immediately; making git one of the fastest ways to buy crypto.

Convenient - Apple Pay and Google Pay are built to make payments seamless and easy. You will have the highest level of convenience buying crypto with Apple Pay or Google Pay.

Secure - Google and Apple Inc are among the top tech companies globally. As such the payment methods have enhanced security protocols; offering the highest protection levels for users.

Disadvantages

Not all Crypto Exchanges accept Google Pay and Apple Pay. Despite the popularity of these two payment services, they are yet to outdo direct bank transfers or credit cards. As such a considerable number of exchanges are yet to include them.

Google Pay is limited to Android device owners and Apple Pay is limited to iOS device owners. If you do not use either of those, buying crypto with Google Pay or Apple Pay will not be a viable option for you.

Conclusion

Buying crypto with Google Pay or Apple Pay has increased the convenience with which we can trade in the crypto space. These payment methods offer speed, easier entry into crypto trading, and more enhanced security. You can trade anywhere, at any time!

Remember, conduct thorough research before investing in any cryptocurrencies to ensure you are making informed trading decisions.  Starting with crypto investment platforms like Sophie.fi can help accelerate your crypto investment journey.