When people first found out about cryptocurrencies, they believed that it was just a fad and that it would blow over eventually. However, to almost everyone’s surprise, not only did cryptocurrency stand the test of time, but it actively flourished. Today, cryptocurrencies are one of the biggest markets in the world right now and continue to grow by the day. And with each day that it grows, it is starting to dominate other major financial markets as well.
Countries like El Salvador have even recently taken to accept cryptocurrencies as a secondary tender. So now people will be able to easily buy things with cryptocurrencies like Bitcoin or even trade them freely. El Salvador even went the extra mile and added the ability for people to even exchange crypto for fiat currency using various cryptocurrency ATMs. These ATMs were not only very easy to find, but they were also incredibly easy to operate.
Furthermore, other countries have either started working on cryptocurrencies or accepting them, or they have stood against them. One of the most recent examples of countries that stood up against cryptocurrencies was China, as they made a historic decision to ban them completely from the country.
But countries are not the only ones that have taken a liking to cryptocurrencies. Even companies throughout the world have started to take on cryptocurrencies as they offer a multitude of benefits. Google became the most recent company to enlist the help of a cryptocurrency firm to tap into the crypto market.
The crypto marketplace Bakkt and Google have formed a partnership where users will be able to link their Visa Card to Google Pay. Therefore, Google Pay will now be offering its customers the ability to properly buy cryptocurrencies of their choice.
As per the agreement, Bakkt users will be able to purchase goods and services online using the Google Pay feature. The process is quite simple. People will use their cryptocurrency to buy whatever they need online. But before the amount is able to reach the other side, Google will intercept the payment and send over the fiat currency to the buyer. Simply put, Google will be your middle man, which will pay the other side for you despite you using cryptocurrencies.
Bakkt has also released its own version of a debit card in collaboration with Visa, which allows users to make crypto-based transactions through a normal debit card. And when pairing this unique debit card with the Google Pay feature, users will easily be able to make any transaction they want without having to worry about fiat currency.