Google Pay might bring bitcoin to your Android phone
Although Bitcoin is the most widely used cryptocurrency, the whole crypto industry is rapidly becoming mainstream. Although Bitcoin is currently in a slump, it still had a great 2021 after years of bear markets. The rise in NFT, and the advent of the metaverse also contribute to cryptocurrency’s rising popularity. large tech companies are paying attention . Google is one of these companies. Google is launching a revolutionary new Google Pay experience for Android devices. This could include digital money management, such as bitcoins and other cryptocurrencies.
To trade bitcoin or other cryptocurrencies, you can use your iPhone or Android smartphone. To trade or spend Bitcoin, you don’t require Apple Pay or Google Pay. Google does not have to support crypto transactions directly. To start trading cryptocurrencies such as bitcoin, you only need to load an app like Robinhood, Coinbase, or Paypal.
It’s clear that Android native support for bitcoin and other digital currency could make it easier to manage your wallets. This is especially important in a world that is transitioning to blockchain technology. One example of this is the NFT revolution. Web3, the future internet, is another. Support for different blockchains will be required to create a decentralized internet. This support will likely extend well beyond bitcoin. This will also require crypto payments to be supported.
This is where Google Pay support to cryptocurrencies could play a crucial role. Google already expressed interest in expanding Google Pay support to cryptocurrencies.
Google Pay to support bitcoin trading
It is not possible to determine the details of how you can buy, sell, or store bitcoins in your Google Pay wallet. Bloomberg was informed by Google that the company is re-launching Google Pay, after having abandoned a push to banking. This will include support for cryptocurrencies.
Google has hired Arnold Goldberg, a former PayPal executive, to manage its payments division. PayPal supports bitcoin trading and other cryptocurrency.
It’s impossible to predict when you will be able store bitcoin in your Google Pay account. Or whether you’ll use Google Pay bitcoin or crypto balance to purchase goods in stores using Google Pay – , which is something PayPal supports.
However, Bill Ready, Google’s president for commerce, confirmed that Google Pay would offer a wider range of financial services. This includes cryptocurrency. After serving as the COO at PayPal, Ready joined Google in 2019.
Google Pay will be transformed into a “comprehensive digital wallet” with the new overhaul. This means that Google Pay will now support digital tickets, airline passes, as well as vaccine passports. Ready stated that Google would like to see more partnerships in the cryptocurrency space for Google Pay’s bitcoin component.
Already, the company has deals with Coinbase. Bitpay allows users to add debit cards from these exchanges into Google Pay. These cards allow users to spend bitcoin or other cryptos and convert them into regular fiat currencies. Google Pay is limited to fiat payments. Google Pay does not yet accept crypto transactions.
Ready stated that “Crypto” is something they pay a lot attention to. We’ll adapt to user demand and merchant demands as they evolve.
Chris Smith began writing about gadgets as an interest. Before he knew it, he was sharing his opinions on technology with readers all over the globe. He can’t seem to avoid gadgets even though he tries hard, when he isn’t writing about them. This is not necessarily a bad thing.