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Can I use Bitcoin on Amazon?

using bitcoin on amazon

January 6, 2021 | 

JOHN K MWANIKI |  0 Comments| 

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According to Forbes' latest rankings of the largest publicly traded retailers, Amazon emerged as the world's largest online retailer of 2020. Despite its popularity, this platform does not allow online shoppers make purchases using Bitcoin. 

Since 2018, many have tried ceaselessly to make purchases from Amazon using the 'I Accept Bitcoin' tab, but the platform still does not allow payments with actual Bitcoin. 

Luckily, even though you cannot use Bitcoin on Amazon directly, several services enable you to trade in your Bitcoins. This is in exchange for ordering the product for you or purchase Amazon gift cards with Bitcoin while allowing a particular discount for such purchases. 

This article shall discuss why Amazon does not accept Bitcoin directly and how you can still shop on Amazon using Bitcoin through workaround solutions.

Why is it not possible to use Bitcoin on Amazon?

Bitcoin is more than a decade old, and Amazon is yet to jump on the cryptocurrency train. There are several theories as to why Amazon does not accept Bitcoin. The more significant one being that pricing products could be challenging due to the volatile nature of the price of Bitcoin. 

Similarly, there is massive uncertainty about future cryptocurrency regulations, which has scared many e-commerce companies, including Amazon. There are also many speculations that Amazon already has great deals in place with major credit card companies and other payment processors, like VISA, that give them more favorable and profitable conditions than Bitcoin ever could.  

However, there also has been speculation that Amazon is gearing up to accept Bitcoin soon. In 2017 and 2018, the e-commerce giant purchased several cryptocurrency-related domain names. Its subsidiary bought a streaming data marketplace, which cites Bitcoin use as a case study in its patent. 

Despite all this, Amazon still does not accept Bitcoin as a form of direct payment. So, let us find out how to shop using Bitcoin on Amazon.

How to make Amazon purchases using Bitcoin

Although Amazon does not accept Bitcoin, it accepts gift cards. Online shoppers can purchase digital gift cards, which work like U.S. dollars, and can buy any product from various gift card hubs. These hubs allow you to buy these digital gift cards with Bitcoin. Even though the process may add a small step and a slight additional cost, it is the best solution to shopping using bitcoin on Amazon. Without further ado, here are some hubs you can buy digital gift cards with Bitcoin.

1.    Purse.io

As the most popular solution for making purchases on Amazon with Bitcoin, Purse.io connects online shoppers who want to pay with Bitcoin on Amazon with people who want to trade their Amazon gift cards with Bitcoin. 

Generally, an online shopper picks a product from Amazon and the desired discount. The order is put in the order book for various earners to view and fulfill. Once the order is fulfilled, the earner receives Bitcoins while the online shopper receives the Amazon gift card. The discounts offered vary between 5% and 33%. The lesser the discount a buyer requests, the faster an earner can fulfill the order. 

There are different levels of earners available on the site, with those that can receive orders of lower discount requests being on higher levels. It is also worth noting that online shoppers can easily add.

2.    Moon

Moon is a desktop browser extension that allows Amazon shoppers to make purchases using Bitcoin through the Lightning Network payment or a Coinbase account with Ether, Bitcoin, or Litecoin. Upon installing the extension on your desktop, it automatically detects when you are shopping on Amazon. As a result, you will notice the company's payment widget when you are about to check out, which shows you exactly how much you owe in cryptocurrencies before making the purchase.  

Whether you use the Lightning Network or your Coinbase account, Moon deducts the crypto from your account within minutes and converts it to top up your Amazon account. It proceeds to make payments with your Amazon balance without charging any additional fees. 

3.    Fold
With Fold, online shoppers can purchase different Amazon gift cards via Lightning Network payments. The website allows purchases of these gift cards, and buyers can get up to a 20% discount on their purchases.  However, there are set maximum limits on each gift card's value, which is subject to change.

Established in 2014, Fold is one of the earliest peer-to-peer digital cash systems. It was originally built to offer a 20% discount to Starbucks coffee consumers using Bitcoin. However, when the Bitcoin network became congested and on-chain transaction fees rose, Fold ran into some usability issues. As a result, it developed a secondary payment layer, like Lightning, to allow users to transact with each other directly. This facilitated cheaper, faster, and more private Bitcoin payments.

4.    Bitrefill
Another popular service that allows you to make purchases on Amazon using Bitcoin is Bitrefill. You can easily buy Amazon gift cards by topping up prepaid mobiles with crypto or via Lightning Network payments on this service. In addition, this service is available in the U.S., U.K., Canada, Germany, and many other countries. However, you should note that certain buying limits exist on this site, which can be increased after verifying your account.

To obtain an Amazon gift card from Bitrefill, go to Biterfill.com and click on the 'Get your voucher' tab. Between $10 to $1000 USD, pick an Amazon voucher value and add your email to receive updates on your order. Proceed to choose your payment method, which may include your Bitrefill account balance, Bitcoin, Ethereum, Litecoin, Coinbase, Lightning BTC, Dash, Dogecoin, or your LocalBitcoins.com account balance. Upon confirmation of your payment, you will receive your Amazon Digital code, which is redeemable at Amazon.

Conclusion

Although Amazon does not accept Bitcoins, there are several ways to make purchases using Bitcoin on Amazon. These workarounds are easy to use and allow buyers to save money by offering various discounts. Furthermore, these services are available globally, and online shoppers can buy anything from Amazon, as long as it is not time-sensitive.

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