Apparently, it’s getting a lot easier for people to buy cryptocurrency through their debit or credit cards.
Crypto.com is a Singaporean cryptocurrency exchange platform that is allowing its 50 million users to start buying crypto on its app using a debit or a credit card. Moreover, the cards should be connected to Google Pay, they stated in a recent press release.
The life of Android users just got a whole lot easier. They will be able to choose from 250 cryptocurrencies to buy from their phones and tablets. However, it’s not going to be all that effortless, there are some things one should vary off.
Complications
First and foremost, to start purchasing through your credit or debit card, your card must be connected with Google Pay. When a user makes a purchase in the Crypto.com app, they’ll simply opt for the Google Pay option.
The users will be able to see their crypto balances updated accordingly. Their whole transaction history will be stored in the app and they can track it down at any minute.
This initiative by Crypto.com has called for a change in trends. Seemingly, Coinbase – an American-based cryptocurrency exchange platform allowed its users to purchase crypto through Apple Pay or Google Pay last year. It must be added that they had almost 98 million verified users at that time.
“Adding these payment types makes it more convenient for people to purchase cryptocurrency in ways that they are familiar with,” says Kris Hansen – Co-founder of Synctera.
“The ability to purchase cryptocurrency from a checking account makes it easier for people to fit cryptocurrency into their overall financial lives,” Kris further stated.
Stay Watchful
This goes without saying but making purchases of crypto through credit cards (borrowed money) convenient, can leave an individual in financial trouble. Every professional always advises changing little to nothing when it comes to your credit card. You should be in a comfortable state at the end of the month.
Also, an easement in acquiring these digital assets is a big stake as well. The cryptos are undeniably oscillating between their values. A minute it’s on top of the world, the next minute it’s 100 ft deep in the ground. You should only invest as much as you’re willing to lose.
Investors should also carry out a proper research process before diving into this market. It’s not something one does out of sudden interest. You should study the market properly, then inquire which crypto platform is doing good, and which has the highest potential, and then plays your cards.
