I'm constantly seeing articles and comments asking how to spend bitcoins as opposed to exchanging for fiat and it's actually a lot easier than you think, today I'm going to show you a simple way to purchase everyday items.
Businesses are now starting to realise the increasing demand for bitcoin, therefore, offering this is a means of payment for goods and services.
The most popular way to spend bitcoin is by purchasing gift cards.
Below you will find my recommended gift card retailers.
These websites may not allow you to purchase goods or services in your country, please check before purchasing.
All of the websites shown above have a reward scheme which enables you to future discounts or free gift cards... The more bitcoin you spend, the more points you will be rewarded.
How do I buy a gift card using bitcoin?
You will need to create an account at one of the websites I have recommended, for the purpose of this tutorial I will be using GiftOff which allows you to purchase goods and services within the United Kingdom.
Once you have registered you will be able to see all of the gift cards available for purchase.
Remember the value is shown in currency not bitcoin, from here you want to enter the required amount for the desired gift card and click "Buy Now".
You will be shown the following screen to confirm your order and you can click "Continue".
The final step is to transfer the correct amount of bitcoin from your wallet to the provider (remember to account for transfer fees).
Here are a few points to add.
- If you underpay the transaction all of your bitcoin will be refunded to your wallet.
- If you overpay the transaction, you will receive your gift card and a refund of overpaid bitcoin.
- You need to complete the transaction within the time limit, otherwise it will be cancelled.