In the past, the complicated process of buying cryptocurrencies kept many investors away from the market. However, this is not the case anymore. More exchanges are adding more methods for direct crypto purchases using fiat. The latest of these is Gemini. The exchange has announced that investors can now buy cryptocurrencies using Google Pay and Apple Pay.
The exchange has stated that investors can now link their debit cards to any of the two payment methods and buy crypto using fiat. Gemini further added that anyone who chooses to use either Apple or Google Pay could expect to have their cash for withdrawing in just an hour of the transaction. What’s even more interesting is that it has not limited the crypto that can be bought to Bitcoin, as is often the case.
Instead, investors will be able to buy up to thirty cryptos using fiat. Some of those that investors will have access to include Ethereum, Bitcoin Cash, and ERC20 tokens such as Maker, Aave, and Dai. However, the exchange is yet to announce the amount to be charged in fees, though its prevailing rate for debit card purchases is 3.49%.
The move by Gemini is an indicator of crypto entering maturity and becoming more accepted as payments and investments. Two months ago, Bitpay, a recognized crypto payment processor, announced Apple Pay’s integration into its systems. This meant that users could connect to their Apple Wallets and buy stuff using cryptocurrencies, just like they would, with fiat.