Onboarding to crypto can be challenging for beginners. Why? Due to a lack of understanding, security risks, complex user interfaces, and drawbacks of centralized exchanges.
For the blockchain space to grow and reach mainstream adoption, simplifying the onboarding process will be key to helping newcomers enter the ecosystem with confidence.
In order to address this, Phantom has integrated Apple Pay and Google Pay. This eliminates the need for users to navigate the often complex world of centralized exchanges—considerably streamlining the crypto buying process.
In this article, we'll explore the importance of this integration and provide a step-by-step guide on how you can leverage Apple Pay and Google Pay on Phantom.
Why onboarding to crypto can be difficult
To get a more in-depth understanding of the challenges crypto faces, let's look at them in greater detail.
Lack of basic understanding
For newcomers, crypto can seem like another world—with phrases such as “smart contracts” or “self custody” often leaving them confused.
Without a solid grasp of these basics, however, it becomes challenging to understand the practical applications of blockchains and crypto, or why they're so revolutionary.
For a beginner, this steep learning curve can be intimidating, especially when they need to make decisions involving real money or using decentralized finance (DeFi) platforms.
Security concerns and risks
Security is another significant barrier for newbies entering the crypto world.
Unlike traditional financial systems where banks or institutions manage your funds, blockchains require users to take full responsibility for their assets. This means you need to set up your own software or hardware wallets, manage your private keys, and understand how to secure your assets.
However, the irreversible nature of blockchain transactions, as well as scams, frauds, and phishing attacks targeting inexperienced users, can be major deterrents to onboarding.
Complex user interfaces
Many blockchain applications and platforms have notoriously complex user interfaces that aren’t beginner-friendly.
Often, it’s because they’re designed with tech-savvy users in mind, leaving those unfamiliar with blockchain technology struggling to navigate.
Simply put: The lack of clear instructions or simplified interfaces makes the onboarding process unnecessarily difficult, leading to mistakes, frustration, and, in some cases, loss of funds.
Onboarding through centralized exchanges
Centralized exchanges, such as Binance and Coinbase, are often people’s entry point to crypto.
While these platforms are designed to ease the onboarding process for newcomers, they’re not without challenges.
For example, people are increasingly frustrated with centralized exchanges due to issues with security breaches, a lack of transparency, high fees, and lengthy withdrawal processes. Also, people have concerns about the control these platforms have, highlighting the fear of assets being frozen.
Moreover, the need to transfer assets from a centralized exchange to a private wallet (non-custodial wallet) introduces additional steps involving wallet addresses, network selection, and transaction fees—increasing the barriers to entry into the crypto economy.
As the crypto world continues to evolve, addressing these challenges becomes crucial for widespread adoption, which is why we've recently integrated both Apple Pay and Google Pay into Phantom.
Buying crypto with Phantom via Apple Pay and Google Pay
As a non-custodial wallet, Phantom has been designed as an easy-to-use and secure on-ramp to crypto that doesn't rely on centralized exchanges. And with our new Apple Pay and Google Pay feature, onboarding to crypto is even smoother
Here’s how to get started with Apple Pay and Google Pay:
First, log in to your Phantom wallet and click on the “Buy” tile, select the cryptocurrency you'd like to purchase, enter the amount, then select “Credit & Debit Card” at the bottom of your wallet screen.
In the “Quotes” window, click on “Credit & Debit Card” again.
Now all the payment options will be listed, including Apple Pay and Google Pay. Fees for the payment options may vary, and some payment options may be unavailable based on your region.
After selecting either Apple Pay or Google Pay, you'll be able to choose your transaction provider. Select your preferred transaction provider. Next, you'll be rerouted back to the order form.
Select “Buy” button to proceed.
Now, your transaction provider will take you through a setup and order process, at the end of which, you’ll buy your desired cryptocurrency with the payment option you selected: either Apple Pay or Google Pay.
How to set up a Phantom wallet?
If you’d like a friendly multichain wallet for crypto, DeFi, and NFTs, try Phantom. We offer browser extensions for Firefox, Chrome, Brave, and Edge, as well as apps for iOS and Android.
- First, download Phantom. Then, create a new wallet.
If you’d like to fund, or send funds to, your Phantom wallet, you can do so via the process outlined above.
Once you do that, you're ready to go.
How to bridge tokens to Solana with Phantom?
To bridge assets from the EVM ecosystem to Solana, read this guide.
And if you'd generally like to bridge funds to the Solana ecosystem, use our very own Cross-Chain Swapper. With our Cross-Chain Swapper, you can bridge tokens across Ethereum, Solana, and Polygon right in your Phantom wallet.
Here’s how:
Disclaimer: This guide is strictly for educational purposes only and doesn’t constitute financial or legal advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
