We’re witnessing crypto vision unfolding in front of our eyes. With governments, businesses and individuals all rushing to capture some of the Bitcoin magic, the growth of mobile payment solutions could be the optimal catalyst pushing crypto towards mass adoption. Google Pay, which serves approximately 100 million users in over 40 countries, is one of the leading lights of the mobile payments revolution. Now Android users can have the freedom to invest in Bitcoin with Google Pay on Coinmama.
The Mobile Payments Revolution
There’s no doubt left that cash is no longer king. Thanks to the incredible rise of mobile payment solutions, physical money is becoming more and more of a dying asset. According to research from Mordor Intelligence, the mobile payments market is worth $1.4 trillion and is expected to reach more than $5 trillion by 2026. Mobile payments are already more popular than cash and credit cards in China and other parts of Asia-Pacific. They are fast overtaking traditional payment methods in the US and elsewhere.
Many governments are encouraging mobile payment solutions to foster financial inclusion in places where citizens may not have access to credit cards and bank accounts. In Africa, where only 23% of the population is estimated to have an account at an official financial institution such as a bank, the need for mobile payments is even more pronounced. Forty-eight billion users across the continent conduct their financial lives through M-Pesa, a mobile app run by Vodafone and Kenyan telecommunications provider Safaricom.
Mobile, Meet Crypto
While the mobile payments revolution continues to take over the world at blistering speed, the world’s mobile giants are getting deeper into the world of Bitcoin and crypto. Apple recently started accepting Bitcoin as a means of payment, and Apple Pay has been a popular way to purchase Bitcoin amongst Coinmama users.
Apple’s main competitor in the mobile hardware market, Samsung, was one of the first major mobile manufacturers to incorporate a cryptocurrency wallet into their phones. Moreover, Samsung recently announced an integration with hardware wallets that would allow crypto owners to manage their holdings and buy bitcoin with Google Pay maintaining all the security of cold storage and the convenience of their Galaxy smartphones. Samsung’s new blockchain features come in the wake of an announcement that the company has doubled the number of monthly active users in their blockchain ecosystem.
The leaders of the mobile universe understand that the future of payments and asset ownership is inextricably linked to crypto, and are taking giant strides in that direction.
How to Buy Bitcoin with Google Pay
Before you begin, make sure you have a government-issued photographic ID, such as a passport or driving license, on you as well as a phone with a camera that works.
- First, create your account: To sign up for Coinmama, go to the sign-up page where you’ll be asked to provide your first and last name, email address, and country of residence. We’ll send you an email with a confirmation link to confirm your account. Click the link.
- Next, add your details: Fill out the form, including your name, address, phone number, and date of birth.
- Upload your ID: Choose the ID you want to upload and snap a picture of it. Make sure all four corners are visible and that the image and text are both clear, then submit them to your account.
- Take a verification selfie: On a piece of paper, write “Coinmama” and today’s date. Take a photo of yourself holding the document and the ID you just uploaded. Check to see that your face, ID, and paper note are all visible. Then, on your account, upload the photo. Once you’ve submitted both the ID and the selfie, you should be verified in a matter of minute
- Buy with Google Pay: Coinmama allows you to purchase ETH, BTC, and other cryptocurrencies by logging into your account. Select your choice of coin, enter in the amount you want to buy, your wallet address and finally, select Google Pay as a payment method.
- Get your coins! After you finish placing your order, you’ll be asked to confirm your wallet address. Following that, we’ll be sending your coins directly to you.
Mass Adoption Pioneers
What cryptocurrencies and mobile payments have in common is that both are unlocking greater financial inclusion for those left out of the fold of the traditional banking system. While governments are encouraging the adoption of mobile payments, the leading companies in the mobile space are embracing crypto through concrete, operational moves. At the intersection of these two accelerating trends lies Coinmama, and we are proud to give our customers the ability to buy cryptocurrencies with mobile payments solutions, whether it be Google Pay or Apple Pay.
