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How to Pay with Cryptocurrency on Amazon
Amazon is probably one of the most anticipated retailers for Bitcoin adoption. This articles explains how you can shop on Amazon using Bitcoin.
The Bitcoin⚡️ Energy Standard
October 31, 2022
Table Of Content
Content
Introduction
Conclusion
FAQ
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External Links
Even while Amazon does not directly accept Bitcoin or any other cryptocurrency, this should not prevent you from using your holdings to purchase items from the shop that holds the record for most sales. Unfortunately, a few roadblocks are involved in using cryptocurrency to pay for Amazon purchases. In most cases, this will require you first to convert your cryptocurrency holdings into fiat currency before you can use that currency to make a purchase using a physical or digital debit card. Another common choice is purchasing Amazon gift cards using cryptocurrencies like Bitcoin, Cardano, Ethereum, Litecoin, or any other cryptocurrency you already own.
We may hold out hope that the retail goliath will one day come to its senses and participate in the emerging decentralized economy. For the time being, we are here to assist you in navigating the waters of paying for those Amazon goods using your growing (or decreasing) bitcoin assets. Check out the different options to find the one that fits your Amazon shopping needs the best.
BitPay
BitPay is a company that provides users with payment software and a debit card that can be loaded with various cryptocurrencies. These cryptocurrencies include Bitcoin, as well as Dai, Dogecoin, Ethereum, USD Coin, and XRP. The application may be downloaded on mobile devices running Android, iOS, and Windows 10. It has the advantage over an online exchange such as Coinbase because it can also be used as a bitcoin wallet. One of the most important advantages is that your account assets will remain on your local device. This means you won't risk losing them even if someone manages to hack the internet service holding your cryptocurrency. In light of those mentioned above, connecting your Coinbase account to BitPay to fund the local wallet is a piece of cake. You can also use a credit card or debit card to purchase cryptocurrency straight from BitPay.
The opportunity to buy an Amazon gift card is clearly shown on the app's main page, and there was no charge associated with my purchase of one. There is also an option called "Redeem Now," which brings you directly to the Amazon website and inserts the gift card number into your balance without you having to do anything.
Bitrefill
Bitrefill asserts that it "makes it easier for everyone to live off of cryptocurrencies." It works similarly to some of the other alternatives available here, enabling you to purchase gift cards using your cryptocurrency. You will get a 1% reward in your account whenever you use Bitrefill to purchase an Amazon gift card. You may load Bitcoin, Dash, Dogecoin, Ethereum, Litecoin, or Tether onto the card by using the normal QR scanning or address entry for your wallet. Other cryptocurrencies that can be used include Tether and Dogecoin. For reasons of safety, there is also the possibility to connect an account with Coinbase. However, you may find it more convenient to maintain that account separate. Although the process of paying for Amazon purchases with Bitrefill is not as seamless as using BitPay or Purse, you can still copy the gift code with the click of a button and then go on over to Amazon with it in hand.
Blockcard
Blockcard is a company that provides customers with a Visa debit card that can be loaded with cryptocurrencies. BAT, Bitcoin, Bitcoin Cash, Dai, Ethereum, Litecoin, Stellar Lumen, Tether, Uniswap, and USD Coin are all valid cryptocurrencies that may be used to finance your account.
You can use a virtual card, a plastic card, or, in the near future, a metal card. The virtual one is free, but to acquire the plastic one, you need to deposit ten dollars. However, there are costs (opens in a new window) for some items, such as transactions using a PIN or ACH (one dollar) and ATM withdrawals (three dollars). Blockcard does not charge transaction fees for either deposits or conversions.
When you have your card that has been funded, you may use it on Amazon just as you would use any other debit card. The coin is converted into Blockcard's proprietary Ternio (TERN) crypto on an automated basis.
Cash App
The Cash App, which was developed by the same company responsible for the Square payment processors, enables you to easily buy Bitcoin. However, it does not yet facilitate the purchase of any other cryptocurrencies. You may even earn Bitcoin by making purchases using cash cards. For instance, one of the promotions offered a bonus of 5% in Bitcoin if you used the card to pay for your groceries. In order to transmit or receive Bitcoin using the normal blockchain, you are required to prove your identity by taking a selfie and presenting a driver's license. (The anonymity provided by cryptocurrencies is a myth.)
When you have accumulated a sufficient number of bitcoins inside the Cash App, you will have the option to sell them. Doing so will deposit the amount that you choose within the Cash App. After that, whenever you want to purchase anything on Amazon, you must enter the information for your debit card on the purchasing website. To see the number, expiry date, and CVV number associated with your cash card, you will need to enter your PIN after selecting Show Cash Card Info from the three-dot overflow menu inside the app. Simply input the information that is printed on your plastic cash card if you have one.
It is important for me to point out that I am not a huge fan of apps like Cash App and Venmo that let people display payment-receiving IDs. This is because these apps all too often lead to illegitimate uses, such as criminals paying you with funds from stolen credit cards, which can result in significant legal headaches. Due to the many fraudulent requests made on my Venmo account and the unlawful transfers of funds to it, I was forced to go through the laborious process of closing it down.
Crypto.com
You are able to use cryptocurrencies to make purchases not just on Amazon, but also on eBay and Walmart when you use Crypto.com. The organization makes available a Visa card that may earn you up to 8% cashback on your purchases. On the other hand, citizens of New York State are out of luck, as they are with many of the perks associated with digital money due to the state's stringent laws. Users located in states other than New York can finance their accounts with any of about 1,300 distinct kinds of crypto currency, each of which has a market valuation of more than $1 million. Using your Crypto.com card to pay for purchases made on Amazon is exactly the same as using any other debit card. If you keep a balance of around $1,100 worth of Crypo.com's CRO currency in your account, you will be eligible to receive incentives ranging from 2.5% to 10% on purchases and will even have your Amazon Prime membership fee of $12.99 per month repaid.
PayPal
Despite the fact that PayPal famously but hesitantly embraced the trend toward decentralized currencies, cryptocurrencies cannot be used to pay with it.Bitcoin, Bitcoin Cash, Ethereum, and Litecoin are the only cryptocurrencies that may be purchased using PayPal, and the service cannot be used in any manner that is directly relevant to cryptocurrency transactions. You are only able to convert it back to the amount on your account. After that, you'll be able to use this sum against any Amazon purchases you make. Other exchanges, like Coinbase, make it simple to transfer assets by using QR codes or your wallet address. At the very least, you can use PayPal to buy some cryptocurrency, turn it into dollars, and then use those dollars to buy things on Amazon.
Purse
PURSE is the option that is most geared toward Amazon and is also one of the simplest to configure. If you use Purse to make purchases on Amazon and pay with Bitcoin or Bitcoin Cash, you will get a discount of 15%. It provides a search field in which you may type in the URL of an Amazon product or product you are interested in purchasing. Even though Purse sadly adds a small cost to your transaction, in the case of the test order I ran, the fee ended up being less than the discount. When you reach the checkout page, all you have to do to add bitcoin to your account so that you may pay for the purchase is scan the QR code located on the final page.
Shopping.io
Shopping.io enables you to make purchases from retailers such as Walmart and eBay, in addition to Amazon, and you may pay with any one of more than one hundred different cryptocurrencies. When you shop on Amazon, eBay, or Walmart and possess a sufficient number of the company's SPI tokens in your Shopping.io account (beginning at $3,000 worth), you are eligible for up to a 10% discount on your purchase. If you want to pay for anything on Shopping.io, you have to go through a third-party gateway like Crypto.com, Utrust, or CoinPayments.net unless you're paying with SPI coin or another currency that's classified as a "Partnership token." The SPI coin is one of the more esoteric cryptocurrencies. Because of this, the procedure will be harder to finish than it would be with some of the other options in this roundup.
Beyond Amazon and The Future of Payments
Even if Amazon does not participate in the direct acceptance of cryptocurrency purchases, numerous other shopping websites, such as Fancy, Microsoft, NewEgg, and OverStock, accept this new kind of money. Or, you could do your shopping at De Louvois, where you can always pay with Bitcoin, Ethereum, and other cryptocurrencies—as long as you want to buy a Bentley, a Lamborghini, or even some high-end real estate.
Conclusion
Even while Amazon does not yet support Bitcoin transactions, there are many other payment methods that may be used to complete your order.
It is hoped that Amazon will start accepting Bitcoin directly in the near future, which would make the whole process much easier.
FAQ
How can you buy things using Bitcoin on Amazon?
On Amazon, you may make purchases of a wide selection of things with bitcoin if you so wish. On the other hand, the biggest retailer in the world has been rather silent on the prospect of accepting bitcoin payments directly. Amazon does accept gift cards, which can be used to pay for anything on the site, but the cryptocurrency bitcoin is not one of the payment methods it recognizes.
What can I buy with crypto on Amazon?
If you use BitPay to turn your cryptocurrency into dollars or Amazon credit, you will be able to buy anything you want with your cryptocurrency.
When will Amazon accept cryptocurrency?
Currently, there has been no announcement on when exactly Amazon will begin to directly take bitcoin payments. Until then, the easiest and safest way to pay for Amazon purchases with cryptocurrency is to do so through BitPay.
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
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