Shop with Your Bitcoins on Black Friday


20. Nov 2020

 

It might be an understatement to say that the world has gone digital. Just about everything has gotten digitalized, so to speak.

Cryptocurrency is one massive result of this shift. These digital currencies keep growing at levels that can best be described as exponential.

 

The New Face of Bitcoin

Bitcoin is the first successful cryptocurrency out there. Several other cryptocurrencies also exist and they're all doing rather well alongside it. From Ethereum and Litecoin to XRE, and Tron, you just name it and it’s gaining momentum in the crypto market.

Bitcoin was originally designed to “create a ‘trust-less’ cash system and remove all third-party intermediaries traditionally required to conduct digital monetary transfer,” [1].

It's safe to say that Bitcoin has gone far beyond that and surpassed all expectations.

The blockchain system upon which Bitcoin was built has also changed tremendously. Its applications have gone far beyond simply building a decentralized network for cryptocurrency.

Industries such as technology, media, energy, health, retail, and more, are now utilizing this technology.

Even crypto banks are popping up!

Of particular interest to us is the use of cryptocurrency by retail giants such as Microsoft and Overstock for certain transactions. While others might not be using this decentralized form of exchange yet, they are working actively on it.

Take Starbucks for instance, who intends to partner with futures exchange Bakkt to enable certain Bitcoin-based features tailored to their brand soon [2].

However, a very popular means that most companies use in place of a direct Bitcoin exchange is Gift Card Services. This is an ingenious way to bridge the tech gap until they can assume a more cryptocurrency-centered approach to their business.

Here, some services accept Bitcoin in exchange for gift cards that you could shop with.

 

Bitcoin Use on Amazon

 

 

A major topic in the business world for ages now is why one of the biggest online marketplaces – Amazon – is not accepting Bitcoin directly for purchases.

While a lot of speculations are going on as to why, there are some ways to use Bitcoin indirectly on the platform…the use of gift cards.

You can purchase these gift cards with Bitcoin from cryptocurrency companies out there and use them on Amazon.

 

Black Friday

 

One of the biggest sales events of the year, Black Friday, is a great day both in the lives of retailers and consumers. Everyone is trying to get a piece of the cake and sales always skyrocket.

Now, you can use Bitcoins to purchase gift cards for Black Friday.

 

How to Save With Gift Cards On Black Friday

 

 

To save with gift cards often seems like an art form. You must be smart and strategic, otherwise, you just wouldn't save something tangible.

Here are a few ways you could make actual savings with gift cards, especially on Black Friday:

 

1. Buy discounted gift cards before shopping

Your best bet to saving money here is to not treat the discounted gift cards like free money when you do get them. Do some research for the best value you can get for your money (or cryptocurrency) before buying them.

 

2. ‘Give one Get one’ deals

Sounds almost like “buy one get one free” right? Well, the principles are similar. This is especially great during shopping periods such as Black Friday.

Here, sellers give buyers free promotional gift cards when they buy regular gift cards. It's often a great deal for the buyers and the sellers. This is because the buyers get promotional gift cards that are often worth more than they pay for it and the sellers get to make sales again.

Also, the sellers are bound to make an extra profit because most shoppers always go above what a gift card is worth when using them [3].

 

3. Gift card sales

Even gift cards go on sales sometimes. This doesn’t happen often, but during holiday seasons, you can expect a couple of merchants to knock the price of their gift cards down [4]. Start on time to surf for gift cards. You can keep them with you until you need to redeem them.

If you're able to find a good deal on gift cards before Black Friday, get them and keep till the sales commence. Imagine using gift cards that you bought on sales to buy products that are on sale - talk about value for your money…or cryptocurrency in this case.

 

Buying Black Friday Gift Cards with Bitcoin

Amazon or not, come November, Black Friday promises to be massive and everyone is jumping on the bandwagon of paying with gift cards and cryptocurrency.

 

A few ways you could do this include:

 

  • Search for platforms that support Bitcoin payments

 

Fortune 500s and other retail giants aside, there are small businesses that accept direct bitcoin payment for shopping. If they accept these direct payments, chances are they also accept gift cards.

 However, gift card usage may vary. While some are valid worldwide, others are region, country, or even currency specific. Always confirm from the website or the issuing company before purchasing it. 

 

  • Use wallet apps to shop with cryptocurrency

 

As we mentioned above, the advent of cryptocurrency companies has changed the face of retail and consumer transactional relationship [5]. They not only make the general process of purchasing digital gift cards very easy, they also offer other services such as digital recharges with Bitcoin.

On Black Friday especially, these platforms are sure to enable users to maximize their shopping expenses.

 

A Few Things to Know about Using Gift Cards to Shop

Platforms such as Amazon have a few rules regarding the use of gift cards for the purchase of items. A few of these rule/terms of use are:

  • Once your purchases exceed the amount of gift card you have, you will have to complete the payment with another mean or by purchasing more gift cards.
  • Gift cards cannot be used to purchase other gift cards.
  • There’s a risk of losing your gift card, especially through fraud. That is why you must purchase your gift cards from authorized sources such as Coinsbee.

 

Where to Buy Gift Cards With Bitcoin for Black Friday

Several platforms support the exchange or purchase of gift cards with Bitcoin and other cryptocurrencies. One such platform is Coinsbee.

With Coinsbee, you can buy Amazon gift cards with your bitcoin or 50 other altcoins, including Ethereum (ETH), Litecoin (LTC), Bitcoin Gold (BTG), and Bitcoin Cash (BCH). The best part is that these gift cards are redeemable for millions of items in just about any category [6].

Purchasing and using these gift cards is super simple. You can pay for your gift cards or voucher codes with different types of payment cards.

You can use credit cards from WebMoney or Neosurf. You can also use virtual prepaid credit cards such as those from Visa, Mastercard, or American Express.

Plus, the platform supports the purchase of gift cards with cryptocurrency from over 160 countries around the world. Your location doesn't matter, come Black Friday, you can purchase gift cards to use on different e-commerce platforms.

All you need to do is select the product you want, the value, and the preferred cryptocurrency on the Coinsbee website.

Once that is all sorted out, a confirmation email with your voucher card code will be sent to you.

Redeem this gift card by entering your voucher code on your Amazon account.

Here, the minimum amount of Amazon gift cards you can purchase is that worth $5. This costs $5.37 or ~0.00050892 BTC [7].

Amazon, however, is not the only platform you can use these gift cards on. Numerous other e-commerce platforms are supported on Coinsbee including iTunes, Spotify, Netflix, eBay, Zalando, Skype, Microsoft, Uber, and lots more.

We’re just particular on Amazon because of the upcoming Black Friday sales.

Granted, Black Friday is used around the world by different platforms. However, Amazon seems to be taking lead.

As of 2019, Amazon shoppers spent a whopping $717.5 billion globally on Black Friday [8]. This year, sales will probably be just as massive on Black Friday and everyone is getting ready.

On that note, smart shopping combined with the use of digital currencies is one of the latest trends in the commerce sector today. This isn't restricted to any one country or platform.

Wherever you are, take advantage of it to make this coming Black Friday memorable.

 

References

  1. Why was Bitcoin created? https://medium.com/bitcoin-blockchain-explained/why-was-bitcoin-created-20ab3a65d95. Accessed 15-10-2020.
  2. Who Accepts Bitcoin? 11 Major Companies. Jordan Tuwiner. Buy Bitcoin Worldwide. https://www.buybitcoinworldwide.com/who-accepts-bitcoin/. Accessed 15-10-2020.
  3. Top Gift Card Statistics. Shelley Hunter. Gift Cards. https://www.giftcards.com/gift-card-statistics. Accessed 15-10-2020.
  4. How to Use Gift Cards to Save on Black Friday. Shelley Hunter. Gift Cards. https://www.giftcards.com/gcgf/save-black-friday. Accessed 15-10-2020.
  5. How to Earn and Spend Bitcoin on Black Friday 2019. Leigh Cuen. Coin Desk. https://www.coindesk.com/how-to-earn-and-spend-bitcoin-on-black-friday-2019?amp=1. Accessed 15-10-2020.
  6. Gift cards – Shop. Coinsbee. https://www.coinsbee.com/en/shop. Accessed 15-10-2020.
  7. Buy Amazon gift card with bitcoins or 50 altcoins. https://www.coinsbee.com/en/Amazon-bitcoin. Accessed 15-10-2020.
  8. 45+ Black Friday vs. Amazon Prime Day Statistics. Fiona McKay. SpendMeNot. https://spendmenot.com/blog/black-friday-vs-amazon-prime/. Accessed 15-10-2020.