Bitcoin offers consumers all over the world a great opportunity to buy things they would normally need a credit card. Especially Amazon purchases are in high demand for Bitcoin users, which is why services like Purse are gaining a lot of traction in recent months. But at the same time, people are looking for options to convert an existing gift card to Bitcoin, which can prove to be a bit of hassle.

Also read: Deutsche Bank Is Not Planning To Abolish Cash in Favor Of Bitcoin

From Gift Card To Bitcoin

A fair few services are working hard to make Amazon purchases accessible to Bitcoin users, even though the company has no plans to accept digital currency payments any time soon.Luckily for all parties involved, there are plenty of intermediary companies who will take care of that problem.

In Europe, All4BTC is the leader when it comes to purchasing things off Amazon – or anywhere else in the world, pretty much = with Bitcoin. For a small service fee of 5 EUR – in most cases – there is no reason not to give this service a try. It does not matter what a person is trying to buy, as long as it can be shipped to their address, All4BTC will be able to help.

US customers, on the other hand, have a service called Purse.IO. By using this platform, Bitcoin holders can purchase things they want from Amazon, but even save some money while doing so. The way this system works is by letting credit card holders pay for Bitcoin owner’s Amazon orders, at a slight premium rate. This translates to a minor discount on every purchase made with Purse.io, although it might take a while before your order completes.

But what about those people who have an Amazon gift card, and are looking to convert it to Bitcoin? Such a reverse system is hard to come by, although there are a few options available. First and foremost, gift card holders can try and sell their product on auction sites such as Bitify, where the built-in escrow system will protect both buyers and sellers during the transaction.

Another option would be to try and sell the gift card on Reddit or any Bitcoin forum. Both types of platform are visited by tons of Bitcoin enthusiasts on a daily basis, and there will always be people looking to pick up an Amazon gift card. However, don’t expect to receive the card’s full value in Bitcoin, as a slight discount should be taken into account at all times.

This is one of the most intriguing aspects of Bitcoin and digital currency. Anyone in the world can offer something of value to them in exchange for the digital currency, and transactions can be completed in a matter of minutes. Granted, there is still a third-party platform involved in the process at some level, but we are slowly transitioning to completely decentralized marketplace ecosystem that does not require forums or auction websites any longer.

Source: Reddit

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