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23 commentsEp 24 bitcoin is not a currency
Skeptics have been asking bitcoin users this question since Bitcoin's start in Well, the answer now is pretty much anything. Enter the online gift card marketplace, a powerful gateway for bitcoin's use in e-commerce transactions. These marketplaces broker the buying and selling of digital gift card codes redeemable at major brands, often at sizable discounts.
The gift card industry is already familiar with digital transactions as well as the high cost of credit card fraud. It's no surprise that gift card marketplaces have been some of the first large e-commerce businesses to begin accepting bitcoin payments, which carry no card fraud or chargeback costs for sellers.
A major player in the world of gift card marketplaces, eGifter was one of the first to begin accepting bitcoin back in The company's leadership have been big believers in bitcoin's potential to transform payments.
Here's why they took the initial leap:. Today, eGifter offers bitcoin users access to hundreds of mainstream and niche brands, including almost every major national and regional retailer in the US. They also offer a wide variety of restaurants and services. You can buy digital gifts card for yourself or give them as gifts through eGifter's website or mobile app. Shoppers who aren't sure what they want can choose the eGifter Choice Card, which can be turned into any other digital gift card later.
Bitcoin purchases have been a major contributor to eGifter's growth since , adding millions to sales volume which continues to grow. We were excited to begin working with eGifter this year when they reached out to us about BitPay's bitcoin payment processing.
They offered us a reliable and secure service that met or exceeded all of our requirements and made it easy to get up and running. Now, several months after getting started with bitcoin payments via BitPay, eGifter is seeing continued growth and some interesting purchase trends. This increased use is coming from existing customers as well as new bitcoin customers. BitPay has also helped us improve our checkout experience, which we believe is also having an impact.
This is encouraging for the future of bitcoin as a more widely accepted payment option. You can see eGifter bitcoin sales by category below:. We're excited about these trends, and they continue to provide evidence that bitcoin is powering everyday transactions, from clothes shopping to food purchases.
If you want to see the power of bitcoin for yourself, just visit eGifter. With so many choices on eGifter, you could pay for everything you need without touching your credit card. What can you really buy with bitcoin? Here's why they took the initial leap: You can see eGifter bitcoin sales by category below: