Crypto.com Integrates Google Pay – Will Bring in an Economic Crisis?

Crypto.com is a global crypto exchange that has been in the headlines following its recent acquisition of licenses in Italy. The exchange has integrated Google Pay as the payment gateway providing easy access to android users. According to analysis, Google Pay is expected to reach 100 million users who would be interested in entering the crypto market.

Significantly, the announcement seems to provide easy access to android users as they can avail of more than 250 cryptocurrencies from Crypto.com. Users who link their Google Pay accounts with credit or debit cards can directly purchase crypto-assets from Crypto.com. Moreover, Crypto.com was the talk of the town in recent days as it acquired a crypto service provider license from Italy. It came after the regulatory approval from Greece, Singapore, and Dubai, which are a handful of countries. 

Is It Boon Or Bane?

Although it seems like a practical alternative for ordinary folks, every implementation has flaws. While some may see this incorporation as a benefit, there is a chance that it will cause economic hardship for the common person. While the world is fighting war and economic crisis, crypto.com’s integration might create a better future and opportunities. On the contrary, TheNewsCrypto analysts wonder, is it strategic to update during this bear market? Moreover, what if, after investing all of your savings there, the market falls?

Analysts adds:

“When it comes to the cryptocurrency market, people should be patient and conduct their own research before making any investments. It is not advised for regular people to invest in cryptocurrencies if they do not have the necessary knowledge of the market”.

However, the integration of payment gateways with cryptocurrency wallets has been ongoing for the past two years. Since its launch on the Gemini exchange in April 2021, Google Pay has already led the path for the cryptocurrency sector. Then, in October 2021, Google Pay partnered with Bakkt, and in April 2022, Nexo announced that Google Pay would be integrated into the launch of its Mastercard-backed cryptocurrency cards.