While the number of merchants accepting Bitcoin for payment is growing daily, Bitcoin still remains far from being the primary mode of monetary transfer when it comes to the majority of our day-to-day shopping.
For brick-and-mortar stores, the acceptance of Bitcoin is mostly confined to but a handful of smaller businesses like restaurants and coffee shops. Online, only Overstock and Tigerdirect stick out as the major players taking the coin. And in the midst of much hype as to eBay’s and their child Paypal’s positions on cryptocurrency, the furthest they’ve advanced is by not banning the sale of mining equipment.
Here’s where eGifter.com can fill the void: They are now accepting Bitcoin for their 150+ giftcards, both for brick-and-mortar and online stores. Big names include Amazon.com, Home Depot and Gap. If you’re looking for some flexibility, you can even buy the “eGifter” gift card- good at eGifter.com to purchase other gift cards.
Cards are then redeemable like cash. They can be purchased online or with the mobile Android app. Speaking with Forbes, CEO Tyler Roye commented how this is effectively allowing shoppers to purchase items using Bitcoin in the store:
“I’ve seen purchases come in for exact amounts like $124.68, so I know folks are paying using Bitcoin physically in-store. That’s the advantage, and a real opportunity with digital gift cards: you don’t have to buy more than you need, down to the penny.”
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The integration with Bitcoin is provided by Coinbase.
In addition to the 150+ gift cards, users can create custom gift cards for their own products and services. In accepting bitcoins, this effectively expands their offering to an area dominated by fiverr, who also recently partnered with Coinbase.
While the concept is not totally new, their offering does bring several consumer centric advantages to the table. Gyft has a similar offering but it’s limited to only 15 stores, none of them on the scale of an Amazon.
SnapCard has integrated Bitcoin purchasing into virtually any online store (45,000+), but they charge a 2% fee. eGifter charges no fees to the consumer. Instead, Roye has said they earn money through “platform fees, margins on the sale of eGift cards, as well as from success fees for helping merchants and retailers acquire new customers.”