According to the latest reports, Gemini has announced that its users will now be able to purchase cryptocurrencies through Google Pay and Apple Pay. Gemini has confirmed that for the time being, the users will be able to major cryptocurrencies through the platform, including Bitcoin.
Gemini is currently one of the largest cryptocurrency exchanges and it manages its base of operations from the United States. The announcement around making payments through Apple pay and Google pay was made by Gemini on Thursday,
The firm has confirmed that the users now have the ability to connect their debit cards to Google Pay or Apple Pay. Once they are able to connect their debit cards, they can go ahead and start purchasing cryptocurrencies from the platform with fiat currency.
The firm has also confirmed the withdrawal time so there are no confusions with the transactions. According to the firm, once the withdrawal request has been launched, it will take an hour for the transaction to be processed.
According to Gemini, the users will currently have access to carry out purchases of thirty cryptocurrencies available on the Gemini platform. Some of the major cryptocurrencies include Maker’s MKR, AAVE, Bitcoin Cash (BCH), Litecoin (LTC), and Ethereum (ETH).
The Gemini exchange also has an Ethereum-based cryptocurrency asset called DAI on its platform. However, the firm has revealed that DAI will not be able to purchase through the service. Therefore, whether the users are using Google Pay or Apple Pay, they will not be able to purchase DAI.
The cryptocurrency exchange has also provided clarity on the fee structure for processing transactions through Google Pay or Apple Pay. According to the exchanges, the users will be able to process transactions through Google Pay or Apple Pay paying the same charges as debit cards.
Therefore, no matter the kind of transaction being made through debit cards, the users will be charged 3.49% of the actual transaction. On the other hand, if the users make deposits that are in the form of cryptocurrency to cryptocurrency or bank wire transfers, then there are no transfer fees.
This is not the first instance of a project providing services in a unique manner and integrating Apple Pay or Google Pay platforms into the infrastructure.
Ever since the start of the year 2021, the expansion and integration process of mainstream services and protocols has been going on in the entire cryptocurrency industry.
While the cryptocurrency industry continues to grow its roots into the mainstream industry, the mainstream industry is also making its way into the crypto world.
Prior to Gemini, BitPay, which is a prominent cryptocurrency to the fiat payment process, also announced the integration of Apple Pay on its platform.