Google partners with Coinbase to accept crypto payments for cloud service

[Rikafip]

As the title says, Google plans to start accepting crypto payments for their cloud service early next year via partnership with Coinbase. No matter  what people think about Coinbase and centralized exchanges in general this is a good news and a step in the right direction regarding crypto adoption.

Google (GOOGL) will start accepting crypto payments for cloud services early next year, according to a press release.

Announced Tuesday at Google’s Cloud Next conference, the tech giant said it will receive crypto payment via an integration with crypto exchange Coinbase (COIN).

Crypto payments will initially be rolled out to a handful of customers involved in the Web3 industry. Google will also user Coinbase's custody service, Coinbase Prime.

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[Wind_FURY]

Good news!

But to play the devil's advocate, they "accept" Bitcoin "payments" through a centralized third party? Technically they're not truly accepting payments through Bitcoin. They're merely accepting payments through Coinbase, like they accept payments through PayPal.

[Doan9269]

It's a goodnews indeed as bitcoin serves them right in choice for making payments but also we must not forget the harm that can come through this online backup service providers, they are welcome into the world of adoption but that doesn't change the believe and conviction towards giving both of them a patronage to their services (coinbase and google cloud service provider), moreso we are close to the time where both of them will begin to seek for better security with blockchain with their services for maximum safety, which means even the cloud services and centralized exchanges were unsafe on the longrun.

[Rikafip]

But to play the devil's advocate, they "accept" Bitcoin "payments" through a centralized third party?

Of course. If they were accepting it directly they wouldn't need Coinbase.  

Technically they're not truly accepting payments through Bitcoin. They're merely accepting payments through Coinbase, like they accept payments through PayPal.

True, but its important to take one step after another. I don't think that it is realistic to expect from such a big company like Google to start accept bitcoin directly P2P. I mean, it would be great of course, but even this is a positive thing. Slow and steady wins the race so who knows, in a few years they might start accepting bitcoin directly.  

[DaveF]

Good news!

But to play the devil's advocate, they "accept" Bitcoin "payments" through a centralized third party? Technically they're not truly accepting payments through Bitcoin. They're merely accepting payments through Coinbase, like they accept payments through PayPal.

Yes, but they are large enough to do their own credit card processing and banking yet they still use other people to do that. At a guess, they really don't want to deal with any of the financial processing things themselves. They are large enough to be able to negotiate good rates with processors so why bother to invest the time & money & other resources when you can just sign on the line and let someone else deal with the headache.

-Dave

[NotATether]

Good news!

But to play the devil's advocate, they "accept" Bitcoin "payments" through a centralized third party? Technically they're not truly accepting payments through Bitcoin. They're merely accepting payments through Coinbase, like they accept payments through PayPal.

My more immediate concern is whether Google Cloud will start enforcing obscene KYC requirements on crypto payers and ruthlessly dismantle them from their platform like they do to gift/prepaid card users.

Hetzner already requires you to upload your passport if you pay by credit card.

[hosseinimr93]

My more immediate concern is whether Google Cloud will start enforcing obscene KYC requirements on crypto payers and ruthlessly dismantle them from their platform like they do to gift/prepaid card users.

Even if they don't force users to pass KYC, people will still have to verify their identity for crypto payments.
I don't think they are going to accept real bitcoin payments. They will probably accept off-chain transaction through coinbase and people will have to pass KYC on coinbase.

[so98nn]

I don’t understand why Google is not making up their own system to accept the payments. Are they broke? Lolz. 

Google could have been better at this by developing something their own, unique product which will attract more and more peeps with whole new experience of making payment through their “trusted brand” like Google.

It’s not for the first time they are using the third parties. Like in india they are using UPI and created Google Pay which uses traditional UPI method and keep promoting the app with new promos and stuff. 

However, better options soon came into the market and they are now far far better than GPAY. That’s why it’s better they launch something unique. :-D

[Hispo]

Apparent good news, also quite unexpected Google would consider to get step into the crypto market during this bear trend within the prices.

Make no mistake, Google will not miss the opportunity to start linking cryptocurrency addresses and balances to each profile of their clients and keep track of our possible total net worth in crypto to keep informed their friends in the government.

Let us see if they also allow people to adquire balance on Play Store with Bitcoin and other coins, it would be handy for us, users without any kind of credit card.

Do not expect them to accept Monero. 

[NeuroticFish]

But to play the devil's advocate, they "accept" Bitcoin "payments" through a centralized third party?

Most probably they use Coinbase as payment processor and they get at the end of the day their fiat.
I still see it a good development. The more big companies accept Bitcoin the better. Maybe someday soon the grocery store chains will get there too.

Apparent good news, also quite unexpected Google would consider to get step into the crypto market during this bear trend within the prices.

Bitcoin is money, no matter there's bull or bear market.
With a (mis)conception like yours, some don't sell in bear market because bull market will follow; then don't sell because "maybe it grows more" until the next bear market. Then someday they die and didn't make use of their coins. No. Bitcoin is money; every day.

Do not expect them to accept Monero.  

I would not be surprised if they would accept it, but ask for KYC  

[BitcoinBarrel]

Most websites use third party payment processors even for crypto.

But you would think Google would have the engineering capacity to implement such a feature 

[NotATether]

Do not expect them to accept Monero.  

It's completely limited to coins supported by Coinbase [Commerce] and they are the ones who choose which coins to list. And Monero was completely delisted a long time ago.

[Beefcake]

I like seeing these baby steps. While the implementation itself doesn't seem to make any sense (use a third party for something that was designed specifically to not need a 3rd party), it does show that large players are increasingly taking crypto seriously. It is exiting the "magic internet money" phase, and entering the beginning phase of mass adoption.

[snipie]

I like seeing these baby steps. While the implementation itself doesn't seem to make any sense (use a third party for something that was designed specifically to not need a 3rd party), it does show that large players are increasingly taking crypto seriously. It is exiting the "magic internet money" phase, and entering the beginning phase of mass adoption.

I don't consider it as a baby steps if Google will take at the end FIAT instead of cryptocurrencies. I don't know if Google will keep a sold in crypto or just convert it in the end to cash and withdraw it. I don't see anything mentioned in the article about the contract made between these two.

[rendravolt]

Very happy and proud to hear this. How could an internet giant like Google finally accept cryptocurrency as a means of payment. This will make cloud service transactions easier and I hope other Google products will follow soon. By cooperating with Coinbase as partners, it will certainly increase the level of public confidence in using crypto.

[Fivestar4everMVP]

As the title says, Google plans to start accepting crypto payments for their cloud service early next year via partnership with Coinbase. No matter  what people think about Coinbase and centralized exchanges in general this is a good news and a step in the right direction regarding crypto adoption.

I came across this news this evening on Twitter, and honestly, it's difficult to find the right words to express the joy....
This is a very big win for the entire crypto community, remembering that Google, being one of the biggest company in the world, has in time pasts banned crypto ads on their sites, which expresses their disapproval for cryptocurrencies, and now, has turned around to partner with coinbase to begin accepting cryptocurrency payments...
Indeed, it's a turn around the whole crypto community should be proud about, bitcoin and cryptocurrencies at large is indeed, here to stay.

[franky1]

Good news!

But to play the devil's advocate, they "accept" Bitcoin "payments" through a centralized third party? Technically they're not truly accepting payments through Bitcoin. They're merely accepting payments through Coinbase, like they accept payments through PayPal.

though using coinbase means google will be selling a % of coin for fiat.. i think the point is this

google customers that have bitcoin dont have to themselves sell their bitcoin to fiat and then put it on a credit/debit card to then hand google debit/credit card details to then buy a google service

in short people can buy google services with bitcoin

[Mpamaegbu]

Good news!

But to play the devil's advocate, they "accept" Bitcoin "payments" through a centralized third party? Technically they're not truly accepting payments through Bitcoin. They're merely accepting payments through Coinbase, like they accept payments through PayPal.

Wasn't it the same Google that outlawed anything crypto adverts a few years ago (I think it was in 2018) and then reversed it last year? I won't be too excited at this news of its partnership with Coinbase (or any), even though I know it's cheering to crypto fans. Google isn't reliable. It can cancel that partnership before we say Jack

[KennyR]

Google which was against cryptocurrency in the past banning cryptocurrency ads for different reasons now getting connected through it is a big change. Corporate networks always wants to stay active with the innovation of the period and here Google have done it. This is a big news and the same will make more other companies start accepting bitcoin into their businesses through some means.

[DapanasFruit]

This is already a big leap considering that Google generally is not a big fan of cryptocurrency...and so because they are enticed with the opportunity side of things they partnered with Coinbase which can be a big convenience for them...less headaches and less exposure to risks. As for me, I don't care if Google is using a third=party platform as a middleman in the process...this is big good news for the crypto industry as this means that Google has finally made a turnaround on how it is viewing cryptocurrency. Am hoping that soon more and more big business firms would be taking in crypto as another option for them to be accepting payments.