Crypto Basics Cryptocurrency

How to Shop on Amazon with Bitcoin?

May 3, 2019

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How to Shop on Amazon with Bitcoin?

Amazon does not accept bitcoin directly. One major reason is the asset’s volatility. The price of a single bitcoin fluctuates on a daily basis – and this is obviously a bit of a problem for an e-commerce website like Amazon.

 

Consider the following example. Let’s say you buy a product for $12 when bitcoin is $5,000 per coin. What happens if bitcoin falls to $4,500, even if only for a few minutes? That’s right. Amazon would stand to lose money – which means that they can’t take payments this way.

 

Will Amazon change their minds about the cryptocurrency in the future? It’s hard to tell. In 2014, an Amazon spokesperson said they didn’t feel it was “right for [the customers”]. Of course, this was before 2017’s crypto revolution – and things have since changed.

 

For example, Amazon now owns a long list of crypto-related domain names. While this doesn’t guarantee anything, it certainly does mean that Amazon is aware of and interested in cryptocurrency.

 

Having said all that, there are meaningful ways to buy Amazon products using bitcoin. Read on to learn more.

 

Buying Amazon items using bitcoin and other cryptocurrencies

 

Although Amazon doesn’t accept bitcoin directly, you can easily use the cryptocurrency to buy up amazon gift cards that you can use on the website.

 

Here’s how that works.

 

Let’s say you decide to trade crypto for Amazon gift cards using CoinCola. All you have to do is register with the OTC marketplace, find a vendor with an exchange rate you like, and complete a trade to get a gift card.

 

 

Afterwards, you can quickly and easily add your gift card balance to your Amazon account balance and start buying whatever you want. You can even pay for shipping this way, meaning that you can use bitcoin to shop on the website – albeit indirectly.

 

Important tips for staying safe and saving money

 

Before you do anything, understand 2 things. First, buying and selling gift cards online is convenient – but only when you’re safe. Never buy gift cards from strangers or through websites you’re not 100% are secure.

 

The reason is that a gift card can only be used once. If you give someone your bitcoin and get a card that’s already been spent, you’re never going to get your money back once the funds have been released.

 

Two features can help here. First, there’s escrow: a mechanism that stops the other party from getting your money unless you verify that the gift card worked for you.

 

The second is dispute resolution, wherein a third party – like a website representative – helps set things straight during any possible argument.

 

One service that has both features and multiple sellers and buyers dealing in iTunes gift cards is our website: CoinCola.

 

We’re secure, we have a large international customer base, and with over 100,000 monthly transactions, we’re one of the best places to buy and sell gift cards, period.

 

To learn more or start trading today, simply visit our website at coincola.com and get started now.

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About CoinCola

Founded in 2016, CoinCola is a Hong Kong based company offering both over-the-counter cryptocurrency trading and crypto-to-crypto pair trading exchange. CoinCola now serves millions of users from over 150 countries with our fast, secure, and reliable trading services. We support BTC, ETH, BCH, LTC, USDT, DASH, and XRP. Visit www.coincola.com to invest in digital assets.

Disclaimer: Trading and investing in cryptocurrencies, also called digital currencies, crypto assets, and so on) involves substantial risk of loss. All informations are used at your own risk, and any content on this site should not be relied upon as advice or construed as providing recommendation of any kind.