"Bitcoin?! But you can't spend it!", they said.
If you're new to the world of b-commerce...
(yes it stands for bitcoin commerce)
…you'll be forgiven for thinking that bitcoin is
'digital gold, a store of value, but it can not be used as cash'.
It's a trendy belief as of mid-2018.
And unfortunately it's half right...
Some retailers who began accepting bitcoin in recent years have cancelled their bitcoin payment checkout feature.
Bummer.
But why?
Is bitcoin really more like 'fools gold' than 'digital gold'?
Au contraire mon ami.
How Bitcoin Is Being Spent In The Real World
Bitcoin was originally intended for use as digital cash.
To work, it requires a few things. Namely…
That you own some. Duh.
That it's accepted by merchants 🤔
That it's quick and easy 😕
And that it's cheap-as-chips.
In fact no. It has to be cheaper than chips 🤑
And therein lays the heart of the problem today.
The old version of Bitcoin is expensive to use as cash 😤
And unfortunately, it appears that is by design…
Developers of the old version of Bitcoin (which uses the currency symbol BTC) denied an upgrade that would have increased transaction capacity and thereby kept transaction fees low 😡
Instead, they say:
Ermm - some developers would certainly fail as economists 🤦
So along came a set of mission-focused developers true to the original intention of bitcoin being used globally as 'peer to peer electronic cash' 👍
And so, on 1st August 2017, Bitcoin Cash was born (with the currency symbol BCH).
It's fast. And yes it's cheap to use as daily cash.
…super cheap in fact.
(less than a penny per transaction!)
But is it easy?
Well… If you're keen on the long-term potential of bitcoin - yet uncertain about its practical benefits in the real world today-what I'm about to demonstrate just might knock your socks clean off your feet.
Bitcoin Socks available at the Bitcoin.com Store
How to buy almost anything with Bitcoin Cash
Not only can you shop at Amazon paying with Bitcoin Cash, but you can also get 5%, 10%, 15%, or even higher discounts on the Amazon store price.
Yes - literally buying anything available in the Amazon store. Plus a big discount to boot! 🤗
Take the new Kindle Oasis for example.
Buy From Amazon Using Bitcoin Cash For 15%+ Discounts!A nice bit of kit to be sure. Kinda pricey for an eBook reader, coming in at £229.99 as of today on Amazon.co.uk.
But look. What's this… Just £195.49 from Purse by adjusting the discount slider a little to the right for a 15% discount. 😎
How does THAT work?!
Purse.io works via a community of Amazon Gift Card sellers.
People with Amazon Gift Cards, which they've bought or been gifted, who are super keen to receive Bitcoin Cash for its long-term investment potential.
Perhaps they don't have bank accounts (common in more parts of the world than you might expect), nor the required ID documents to get verified on international bitcoin trading exchanges.
Or perhaps they don't want to pay high international money transfer fees or local exchange fees.
Whatever the reason, they opt to exchange their Amazon gift card value for a little less than its face value in the form of Bitcoin Cash.
Purse.io manages the whole exchange process, automagically on its b-commerce platform.
…And you or I shop at Amazon, pay in Bitcoin Cash, and get a discount 😄
If you're outside the US, simply create a public Amazon wish list in your local Amazon store and import it to Purse. Took me 2 minutes to follow Purse's Instructions
So if you're in a country where it's easy to buy Bitcoin Cash, where Amazon can deliver to, it's an absolute no brainer to use BCH to get a discount on your Amazon shopping.
Plus it's a very practical way to learn about bitcoin cash personal finance.
Get a bitcoin wallet for your mobile — and benefit from a tidy discount on your shopping. 🎉
But wait, there's more
I did title this post "how to buy almost anything with Bitcoin Cash".
And some things Amazon does not sell...
Like, oh I don't know…. flights for example.
Well guess what.
www.cheapair.com accepts several cryptocurrencies including BCH (Bitcoin Cash) to pay for flights.
And there are soooooo many more examples. More happening every day.
Just keep an eye on www.bitcoin.com for regular updates.
Remember: Bitcoin is Bitcoin Cash-a peer to peer electronic cash system - and it's becoming easier to use every day.
Welcome to the rapidly advancing world of b-commerce.
