Though cryptocurrency is fast becoming widespread as many businesses are starting to accept cryptocurrencies like Bitcoin as a mode of payment, many of our everyday needs and items can still not be purchased using bitcoin directly. There are still many retail and grocery stores that do not accept bitcoin as a mode of payment; in fact, there are numerous online stores that have still not adopted cryptocurrency payments.
What would happen if you are very much into cryptocurrency and most of your cash is stored in crypto? Many crypto traders have the bulk of their financial assets in cryptocurrency. How do these people get to buy everyday items using crypto? How do they shop? How do they get to buy gifts for their friends and loved ones? The answer is nothing mysterious. In cases where the online store or retail store does not accept crypto payments, they use bitcoin or another crypto to buy gift cards or vouchers of the store or product brand. With the gift cards, they believe whatever they want to buy. In the U.K alone, sales of gift cards increased by 17.1% in the second half of 2021. This shows that people adopt this method of using bitcoin and crypto to buy gifts through gift cards.
What Are Gift Cards?
Let’s give you a fast download of what gift cards are. A gift card is what many refer to as vouchers. It gives you an alternative to cash payments within a particular store or brand. To make this explanation clearer, let’s cite an example. If you have an eBay gift card worth $200, you can purchase items worth $200 from any eBay outlet without paying in cash or having to swipe your credit card by redeeming the gift card. Redemption of gift cards can be done on the store’s website or physically at an outlet of the same store. The redemption process varies depending on the particular store or brand. But most times, a code is generated on the store’s website to redeem your card.
How then can you buy these gift cards using bitcoin or another crypto? But just before then, some advantages come with buying gift cards with Bitcoin. Unfortunately, many do not know of these advantages, so they are skeptical about bitcoin and gift cards in the first place.
Gift Cards – Any Benefit(s)?
First, gift cards have a long expiration date, which is interesting. Gift cards can last for as long as weeks, months, or even years. Now, many are very skeptical about the volatility of bitcoin – it can skyrocket today and plummet tomorrow. But why worry about volatility when you’ve already bought gift cards with your bitcoin? If you use bitcoin to buy a gift card worth $50 today, your gift card will still be worth $50 next month and next year, depending on the expiration date. Remember that the value of your bitcoin can dip into $25 at a future time, but the value of your gift card remains the same.
Second, gift cards are anonymous to prevent hackers and scammers. Gift cards are not issued in the buyer’s name; custom codes and numbers identify each card and enhance security.
Lastly, gift cards are an excellent way to buy gifts for your loved ones using bitcoin. You can purchase gift cards worth thousands of dollars and gift your loved ones to purchase items of their choice.
How To Buy Gift Cards With Bitcoin and other Cryptos?
How can you buy gift cards using Bitcoin or other cryptocurrencies without much ado? It is easier than you imagined. First, you have to find a reliable gift card vendor and follow simple steps on their website(s). Coingate is one reliable online gift card vendor to buy more than 1,000 gift cards with bitcoin or other cryptocurrencies. Let’s take, for example; you want to buy a Starbucks gift card using bitcoin.
The first step is to visit a cryptocurrency platform, and select your particular country on the country list. After this, you will see the different packages available for a Starbucks gift card; you choose the specific amount you would like to purchase. After choosing your country and selecting the gift card package you’d like to buy, it is now time to select the cryptocurrency you intend to use to purchase the gift card package. Many gift cards usually have the cryptocurrency options of Bitcoin, Ripple, Litecoin, and others. Of course, you want to use Bitcoin, so you should select the Bitcoin payment option.
After this, you’d probably be asked to fill in details like your email address if it is your first time, and also tick the box to accept the terms and conditions of the website. You will then be asked to make a particular Bitcoin payment amount to the specific wallet address you’d find displayed. Ensure you send the exact amount or a little bit above it to ensure that your transaction is processed. After payment confirmation, you receive the gift card at your email address. Simple and easy. To learn more about the buying process, you could view website for more details.
Conclusion
The process of using bitcoin and other cryptocurrencies to purchase gifts, gift cards, and other retail items is easy. You just need to follow each procedure, step by step.
