Google To Start Accepting Cryptocurrency Payments For Cloud Services Next Year By 2023

Introduction

Google will soon start accepting cryptocurrency payments on certain cloud services, the company announced Thursday. The US multinational tech giant said it chose Coinbase to allow certain customers to pay for cloud services starting next year, by integrating the Coinbase Commerce service, Google said in a blog post. Cryptocurrency transactions will be handled through the same payment channel as traditional credit card and debit purchases are, with one added security feature—cryptocurrencies may be converted into their equivalent cash value when deposited in a user’s Google account.

What is cryptocurrency?

A cryptocurrency is a medium of exchange using cryptography to secure transactions and control the creation of new units. Cryptocurrencies are classified as a subset of digital currencies and are also classified as a subset of alternative currencies and virtual currencies. Bitcoin became the first decentralized cryptocurrency in 2009. Since then, numerous cryptocurrencies have been created. These are frequently called altcoins, as a contraction of bitcoin alternatives. Bitcoin and its derivatives use decentralized control as opposed to centralized electronic money / central banking systems. The decentralized control is related to the lack of central control (central server or single administrator) that distinguishes it from fiat money issued by governments or their associations.

What are cryptocurrencies used for?

Digital currencies, also known as cryptocurrencies, are fully digital assets that are used as a medium of exchange using cryptography to secure transactions and verify them. The first cryptocurrency to be created was Bitcoin back in 2009. Since then more than 1,000 new digital coins have been created. Many believe they will replace traditional money one day. There are more than 300 different cryptocurrencies in existence today, most of which are built upon a specific blockchain - an encrypted decentralized public ledger of all transactions ever made on that chain's network. This allows anyone with an internet connection to see and verify every transaction ever made within that blockchain.

What do people mean when they say ‘crypto’ in this context?

When we talk about crypto in general, we're referring to digital currency. In more specific terms, cryptocurrency refers to the digital currency that uses encryption techniques to regulate its generation and transfer. This is done without any central authority or banks. The first cryptocurrency was bitcoin. It was created in 2009 by an individual using an alias named Satoshi Nakamoto (the true identity remains a mystery).

Why are crypto prices volatile?

If you’ve ever bought or sold cryptocurrency, you probably think that volatility is one of its biggest problems. On a short-term basis, prices can be incredibly volatile. And it can seem like no matter what happens, most coins will eventually rise to an all-time high before inevitably falling to a new low. While these price swings can be frustrating from a trading perspective, they serve an important function in cryptocurrencies: allowing for fair pricing when there are no markets available for buyers and sellers to exchange assets at their true value. Without cryptocurrency’s ability to fluctuate so dramatically in price, there would be little reason for individuals or companies to use it as a currency rather than simply hold on to it as an investment over time.

How can I get started investing in crypto?

You'll need a place to buy, a wallet to store your bitcoin in, and exchange to convert it into cash. You have several options for each, with Coinbase being one of the most popular: It lets you buy up to $500 worth of bitcoin per day (at current prices) and supports 24 countries. There are also many exchanges that sell bitcoin in your home country that you can use. Keep in mind that all those transactions will count toward your transaction volume for calculating fees, so plan accordingly if you're looking to make big trades. And remember: once you buy, don't forget about security! That means not keeping all your coins on one exchange.