Amazon is fair and square, the fastest-growing company in the world. Maybe it is not yet the biggest, but it is right up there with the biggest companies in the world. Funny thing is, it started selling books. Books! One of the oldest technologies in the world. And from that, it just skyrocketed to the moon and beyond. All this, because one day, Jeff Bezos had an idea. The idea that he had to get on the Internet. On boy, has he achieved this. Let’s know ‘Does Amazon accept Cryptocurrency?’
And cryptocurrency is the new digital or virtual currency; banks or central banks do not control that. It is just there, on the web. It is secured by something called cryptography, which makes it secure. In general terms, bad things do happen, as with all things.
Both have disturbed the markets worldwide. Both are changing the world. Who knows who more. But are they together? Do they collaborate? Read on.
Does amazon take cryptocurrency?
Well, not directly. You can’t just use bitcoin, or any cryptocurrency, to pay for your Amazon purchases. However, you can use Bitpay. With Bitpay, you can pay directly for your purchases, or you can buy gift cards and with them, well, you know.
What is Bitpay?
Bitpay is like a debit card, but for cryptocurrencies. Hence, instead of connecting to a bank, it connects to a crypto wallet, allowing you to spend your bitcoins, Dogecoins, Ethereum, or other coins and many places, not just amazon.
How to use it?
Well, it’s super easy. First, you have to download the Bitpay app. Then, there, you sign up for the Bitpay card. It takes five minutes to get approved, and once that happens, a virtual card is available to you. Then, load the card with a compatible wallet, and that’s it! Start shopping! Use it like you would use any other debit card.
You can use the most popular cryptocurrency wallets such as MetaMask, Trezor, Coinbase, Kraken, and many more. It’s safe.
Bear in mind this is not a credit card. It is a prepaid card. A card that you fund and then use.
The total coins that they accept are as follows: Bitcoin, Ethereum, Bitcoin Cash, Dogecoin, Shiba Inu, Litecoin, XRP, Dai, USD Coin, Binance USD, Wrapped Bitcoin, Pax Dollar, Gemini Dollar. But they are working on getting more coins accepted.
There are limits, too, though. For example, you can’t spend more than 10,000 dollars a day. Your maximum balance can only be 25,000 dollars. So, it’s like a debit card, only with more limits.
Where else can I use it?
Anywhere that accepts MasterCard debit cards. If you are in the United States, you can also withdraw money from the ATM, which accepts Mastercard. That way, you can convert your Crypto into dollars. So, it is a global thing.
You can use Google pay Apple pay; it is practically like a debit card.
You cannot use your Bitpay card in places sanctioned by the OFAC (The U.S. Office of Foreign Asset Control). For example, Cuba, the Chinese military, the Balkans, Belarus, Libya, Lebanon, Somalia, and many more places. But, stay clear of the enemies of the United States, and you are good.
Amazon and cryptocurrencies
Crypto and blockchains are just starting. They are both babies. However, they have a lot of potentials. This is why rumor has it that Amazon will launch its very own cryptocurrency this year. Although nothing is yet confirmed, the rumors are pretty solid. If this happens, you will likely be able to buy in their site all you want with their cryptocurrency, the amazon crypto-token. When will this happen? It is still uncertain.
Conclusion
You can use cryptocurrencies on Amazon. You have to do it via Bitpay. It is simple, and it is safe. Are you on Crypto already? Well, it is simple, get your card and start spending. Are you not? Think about it. All new technologies are scary at first, but they become part of our lives later on. Remember when the Internet started, or online shopping? Those were difficult times, too? So, why not start now? Why not start here? Being bold and taking risks is what life is all about.
Remember, it is a prepaid card, not a credit card. You must fund the card with Crypto for it to work. Remember this and happy shopping!
FAQ
Who accepts cryptocurrencies?
Here are some major companies that accept Crypto:
Microsoft
Overstock
Namecheap
Starbucks
Whole Foods
NewEgg
Why is Crypto not safe?
The danger is that they can be hacked, on the one hand. And on the other, they have no fundamental value. Hence, they can drop to zero at any time.
What is a blockchain?
It is a mechanism to record information in a difficult or nearly impossible way to hack.
