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Buy Bitcoin with Google Wallet – How-to Guide

Curious about buying bitcoin with Google wallet? You came to the right place. Here, you will find all you need to buy bitcoin with Google Pay. 
Buy Bitcoin with Google Wallet
Buy Bitcoin with Google Wallet

Google Pay, formerly known as Google Wallet, is a globally liked online payment system to make quick and secure purchases throughout the world. And, with more and more crypto exchanges accepting this payment option, it is also becoming a popular method to buy cryptocurrencies. 

There are a number of exchanges and P2P marketplaces that support Google Wallet as a payment option right now. So, to purchase bitcoin with Google Wallet, you need to pick up a broker, go through the verification process and start buying bitcoins. Still, finding the appropriate exchange platform may be a challenge for you as long as you need to consider several factors, including fees, transaction time, safety, etc. 

In this guide, you will learn where and how to buy bitcoin with Google Pay and get plenty of information about this digital wallet. 

Paxful - Top Crypto Exchange and Digital Wallet

Our Rating

  • Buy Bitcoin with a Gift Card
  • Highly Liquid P2P Marketplace
  • A Trusted Bitcoin Wallet
  • Low Fees

Best Brokers to Buy Bitcoin with Google Wallet in October 2021

During this guide, we checked several bitcoin exchanges and did thorough research to find the best brokers for this purpose. Our research indicates that the following are currently the best platforms to buy Bitcoin with Google Wallet. 

Paxful – Overall Best Crypto Platform to Buy Bitcoin with Google Wallet

Paxful is one of the best and most trustworthy peer-to-peer marketplaces that have a good reputation among crypto investors worldwide. It supports hundreds of payment options, including obviously Google Pay and iTunes Gift Card.

Paxful is not a broker, which means that there is no third party involved in the transaction. instead, you directly contact the seller and buy bitcoin straight to your wallet. The fantastic thing about the platform is that it does not charge any trading fees from the buyers. Still, the buyers set their own prices as long as Paxful charges them 1% for each transaction. 

Coinbase – Trusted and Reputable Crypto Exchange

Coinbase is a well-known cryptocurrency exchange in the US, but it also accepts customers from more than 100 countries worldwide. The broker is especially famous for its quick and straightforward interface, which makes it well suited for beginners and experienced traders. What is a bit confusing about the platform is its fee system as it applies different fees for various payment methods plus has a bit higher than average trading fees. 

Binance – Best Crypto Exchange for Active Traders that Accept Google Wallet

Founded in 2017, Binance is now the largest cryptocurrency exchange platform by daily trading volume. It also stands out with a vast selection of crypto assets that you can buy through various payment options which include Google Wallet. Additionally, Binance offers a very competitive fee system, an excellent trading platform, and a mobile app for experienced traders. Also, there are no deposit or account fees to start your first trade.


While there is an increasing number of brokers that support Google Pay as a payment option, many good brokers still do not offer this option. This means that our choice here is limited, so among those platforms that accept this payment method, Paxful, Coinbase and Binance are comparably better choices. 

Crucially, these platforms charge relatively lower fees, and they offer a good user experience for traders. Another vital thing is safety. Paxful offers an escrow mechanism to avoid scams and fraud and allows you to open a dispute if something goes wrong. Meanwhile, though Coinbase and Binance are not yet regulated by any financial institution, they offer you robust security systems to keep your account safe. 

At last, all of these platforms have their own characteristics that make them worth using. Paxful allows you to buy bitcoins directly from a second party without the involvement of anyone else. Coinbase is best known for its simplicity and a more cost-effective and professional trading account known as the Coinbase Pro account. Binance offers a wide selection of digital assets besides bitcoin as well as good trading tools for its users. 

How to Buy Bitcoin with Google Wallet Card 

In this section, we will show you how to buy bitcoin with Google Wallet and go through all the necessary steps from opening a Paxful account to making your first trade. 

Create a Paxful Account

It comes with no surprise that as a first step, you need to visit Paxful’s website and click on the “Register” button to sign up for an online account. In the first phase of the verification, you need to provide an email address and create a password for your account creation. Then you must check your email to find the verification code and verify your account by email. 

Then, you also need to fill in your phone number to get a code by SMS and verify your account by phone number. To create a username for you, visit the settings section, where you can also download a profile photo for your account. 

Step 1. Create an Account

Verify Your Account

Paxful has four levels of verification. The first one includes verifying your account with your email and a phone number, but you can hardly do too much on the platform in terms of trading going only through the first level. To get a Paxful Wallet and start buying, you also need to verify your identity with a copy of your passport.

Verifying your account also with address allows you to have unlimited trades and send-outs. 

Step 2. Verify Your Account

Get Your Wallet

If you visit Paxful’s wallet section, you will notice that you have three different wallet options – designed respectively for Bitcoin, Tether, and Ethereum. You can use these wallets to store your cryptocurrencies, but you cannot use them without second-level verification. As long as you verify your identity, the wallets will immediately become available for you. 

Find the Offer

Now, when you have a verified account, you can finally start looking for an excellent offer to buy your first bitcoins on Paxful. To start, click on the Buy button at the left corner on top of the website. Your profile will be flooded with thousands of sell offers from various users. To narrow down the list and filter only Google Pay offers, choose the left section of the website. Here you can select the payment option, location, and the amount of BTC you want to get. 

Step 3. Find the most suitable offer

Buy Bitcoin with Google Pay

If you have browsed the offers and finally found the one that best suits your requirements, you can finally start the buying process. For this purpose, you need to contact the seller through the Paxful chat and clear out the details about the upcoming contract. Deciding on the final details, you can eventually complete your transaction. 

Step 4. Buy Bitcoin

What is Google Wallet?

Google WalletDigital wallets have become very popular nowadays, as these payment methods help users to fastly and quickly buy goods or services and easily complete daily transactions. It is actually a software system that securely stores information about your payment methods and is used as an electronic payment method. Google Wallet, for that matter, is one of the best-known digital wallets that has been renamed Google Pay. Currently, it’s available in more than 40 countries of the world and is expected to expand over the next years. 

Google Wallet was developed by Google and was released in 2011 as a peer-to-peer payment service that allowed people to send and receive money through mobile devices or computers. In 2018, it was merged with Android Pay and rebranded as Google Pay or G Pay. Additionally, with the information about your payment methods, you can store your car keys, campus ID cards, different types of tickets, coupons, and other things in your Google Pay account.

Is Google Wallet Safe?

With all of this information being stored on your Google Pay account, the first thing that bothers our mind is its safety. It’s a legitimate question, actually, as you store crucial information about your credit or debit cards, etc. In general, the safety of each digital wallet depends on what security systems it uses. In that matter, Google Pay claims to use the most sophisticated security features and strong encryption to protect your safety. 

With this being said, using Google Pay is more secure than directly pay with your credit or debit card. The thing is that every time you make a transaction through Google Pay, it creates a virtual account number, so the receiver never gets your card information. Meanwhile, you need to also think about the safety of your phone so in case someone accesses it, it would be impossible to use your Google Pay Account. To protect your account, Google Pay offers several methods including two-factor authentication and SMS message. 

How to Use Google Wallet?

If you want to start using Google Pay for your online payments, in the first place, you need to open a Google Pay Account. So, what you need to do is to download its app and install it on your smartphone or even on a smartwatch which is a combination of some simple steps. It’s worth mentioning that only phones based on Android operating systems can use a Google Pay account. The same is with smartwatches. However, in the US, users can also download it with an iOS system with limited functions. 

Google Wallet and Pay

Once you manage to download and install your Google Pay, all that comes after it is a very straightforward process. In the first place, you need to make sure if your bank supports Google Pay. If it does, you then need to add your card information to it. To do this, just click on the “Add a card” button. 

Next, you need to verify your card by SMS code, phone call, or choose another option that the app suggests. Finally, when your card is verified, you can use it at terminals. Now, you don’t need to carry your bank cards with you everywhere, as long as you can access them and make payments with your mobile phone. You can use these in stores and supermarkets if they have the appropriate terminal that works for check cards. You can also use Google Wallet to buy online services and goods, including bitcoin and other cryptocurrencies. 

Advantages and Disadvantages of Buying Bitcoin with Google Wallet

If you are still uncertain about whether you should be buying bitcoin with Google Pay or not, you will find this section helpful. Below we have compiled a list of the advantages and disadvantages of this payment option to help you get a final decision. 

Advantages

  • It’s a popular digital wallet. Google Pay is an internationally famous online payment system with millions of monthly transacting users. 
  • It’s quick and simple to operate. Google Pay is one of the easiest and fastest methods of sending or receiving money around the world. 
  • It’s secure and reliable. Google Pay claims to use the world’s most advanced security features. It protects the safety of your payments with multiple layers of protection. Still, we should note that you don’t remain fully anonymous by buying bitcoin with Google Wallet as your transactions are logged in your Google Pay account. 
  • It’s supported by several financial institutions around the world. This includes the four largest financial institutions in the US – Visa, MasterCard, American Express, Discover, and several other banks worldwide. 

Disadvantages

  • Higher fees. It’s one of the main disadvantages of buying bitcoin with Google Pay. Paxful sellers, for instance, set higher than average costs for their bitcoin. Coinbase charges a flat fee of 3.99% for Google Pay transactions, plus additional trading fees. 
  • Not so popular for buying Bitcoin. Though an increasing number of cryptocurrency exchanges accept Google Pay as a payment option, there are still plenty of good brokers that don’t support it. So, finding a good broker for this purpose will be a real challenge. 

How to Withdraw Bitcoin Earnings from a Crypto Exchange

Withdrawing your Bitcoin earnings from a crypto exchange is almost the same process as funding your account and buying bitcoin but with the reverse steps. You need to do two significant steps – to sell your bitcoins or exchange them into a fiat currency and choose a withdrawal method to get your money. So, when you notice that bitcoin has increased in value and you want to get your earnings, or you simply need to withdraw the funds from the exchange – you need to sell your bitcoins first. 

If your BTC is not on your brokerage account, but you store it on your Bitcoin wallet, you first need to send them to a brokerage platform where you want to sell them. After this, visit your brokerage account and put a sell order filling in the amount of BTC you own or you want to sell. When your order is complete, you can select a withdrawal method and transfer your earnings to your card or e-wallet, etc.

How to Store Bitcoin on a Digital Wallet 

Bitcoin Wallet to secure coins safelyBitcoin is a decentralized digital asset, which makes it more secure and creates a challenge for hackers to steal it. But when you buy bitcoins on any decentralized cryptocurrency, your digital money is stored on your online account, which is a bit riskier. To make more secure storage for your cryptocurrencies, you need to create a digital wallet that is almost impossible to hack.

Notably, a digital wallet is not actually keeping your crypto assets, but it holds your keys. With your private ket, you get access to the section of the blockchain where your BTC is stored. You must create a private key for your wallet and don’t give it to anyone, as these private keys help you access your wallet and without the keys, you can essentially lose your cryptos. 

Additionally, you can select what kind of wallet you want to use as there are hardware ones and software wallets. The first one is a physical device that stores your keys to the blockchain offline, meaning no one can get access to this wallet. In contrast, a software wallet is an app that you can download and install on your phone or computer.

Both wallets are pretty safe to store your bitcoin, but hardware or cold storage wallets are obviously more secure. For more information about digital wallets, you can visit our guide and learn how to create your Bitcoin wallet. 

Taxation on Bitcoin Earnings in the US

There is one more thing to consider when you trade bitcoin – taxation. This is because cryptocurrencies are considered a taxable asset and in the United States are classified as property. Therefore, the US Internal Revenue Service charges the same taxes for Bitcoin that it charges for any property. In this aspect, there are some complicated calculations you need to do when you earn rewards through bitcoin trading and report about it to the IRS to be taxed for your earnings. 

For example, Bitcoin earnings are taxed differently depending on the period you hold it before you make a profit from it. Additionally, there are other factors you need to be aware of before you calculate your earnings from bitcoin and other altcoins. 

For more information about the taxes applied for this asset, visit US government pages, where you will find plenty of information about how to pay your crypto taxes. The IRS website also has a special page dedicated to the frequently asked questions about virtual currencies. 

Paxful - Top Crypto Exchange and Digital Wallet

Our Rating

  • Buy Bitcoin with a Gift Card
  • Highly Liquid P2P Marketplace
  • A Trusted Bitcoin Wallet
  • Low Fees

Conclusion

To conclude, Google Wallet is a well-known online payment system to buy and sell goods. Recently, it has also become a popular method to buy cryptocurrencies. Though there are not too many reputable brokerage platforms that support this payment option, some rather trustworthy crypto exchanges already accept payments with Google Pay. 

Our list of the best platforms to buy Bitcoin with Google Wallet includes Paxful, Coinbase, and Binance, which are pretty popular exchanges worldwide. To start buying bitcoin with this payment option, visit any of these brokers, sign up for an account and begin your purchase. If you choose Paxful, you can use our guide above that explains step by step how to buy BTC with Google Wallet on Paxful. 

FAQs

Where can I buy Bitcoin with Google Wallet?

You can buy Bitcoin with Google Wallet on cryptocurrency exchanges or peer-to-peer marketplaces. A cryptocurrency exchange or a brokerage platform is an online marketplace with a third party involved in the transaction, which typically takes care of your trades. In contrast, on peer-to-peer marketplaces, you get in touch with the seller and discuss how to conclude the transaction. To select a good platform where you can buy bitcoin with Google Wallet, you need to consider some factors, including predominantly your privacy, safety, and pricing system of the platform. From our research, the best options include Paxful, Coinbase, and Binance.

How to buy Bitcoin with Google Wallet?

To buy bitcoin with Google Wallet, you need to select a brokerage platform like Paxful that supports BTC and accepts Google Wallet as a payment option. Next, you must register for an online account, verify your identity, and even address if it is required. Finally, you can complete your purchase by selecting Google Wallet as a payment method and filling in the amount of bitcoin you want to buy. If you buy it on a peer-to-peer marketplace, you need to communicate with a seller and decide the transaction details.

Is buying Bitcoin with Google wallet safe?

Google Wallet is a reliable and secure online payment system, so there is no need to worry about the safety of your transactions. All in all, bitcoins that you have bought will not be transferred to your Google Wallet, but they will be stored on your Bitcoin Wallet. Still, we should mention that it's not an anonymous method to buy bitcoin on exchanges, as your bank cards are linked to your Google Wallet and every transaction will be logged in your account. However, you can buy bitcoin with Google Wallet and remain anonymous on P2P marketplaces.

What brokers allow Google Wallet payments for buying Bitcoin?

There are plenty of cryptocurrency exchanges and P2P marketplaces where you can buy bitcoin with Google Wallet. We have researched several of them and compiled a list of the best-recommended brokers, including Paxful, Binance, and Coinbase. Our research indicates that these three are the best platforms to buy bitcoin through this payment option.

How can I buy Bitcoin with Google Pay?

Firstly, you need to create a Google Pay account which is available worldwide, after which you need to link a credit or debit card to transfer money on it. Secondly, you must select a crypto exchange that supports this payment option and register for an account. When you finish the registration process and verify your account, you can finally buy bitcoin using Google Pay.

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