Bitcoin is a cryptocurrency that comes with a lot of inherent benefits compared to traditional fiat currencies.
Right off the bat, the transactions are peer-to-peer as they require no intermediaries in the face of banks or other institutions. Not only does this make them considerably cheaper, but they are also almost instant. Needless, to say, there are more macroeconomic benefits of a scarce digital asset compared to inflationary currency controlled by a selected group of people.
In other words, when using Bitcoin as a means of payment, users can transact with each other, regardless of their whereabouts, without having to wait for the lengthy confirmation times and pay the high banking fees.
However, at the time of this writing, there still aren’t a lot of merchants that accept Bitcoin as a payment method for a variety of reasons.
This is where Coinsbee comes into the picture. It’s a platform where users can buy gift cards for countless merchants using Bitcoin and other cryptocurrencies and then spend them on whatever they see fit.
What is Coinsbee?
Coinsbee is a platform where users can spend their cryptocurrency on various gift cards and use them to purchase different goods and services from many different merchants.
The process is very convenient and easy to handle. As soon as the user lands on the website, they can click on the “Buy now” button and proceed with selecting the gift card of their choice.
This is how the platform looks like:
From here, they can search for gift cards based on various criteria such as region or specific fields like e-commerce, games, payment cards, and mobile phone credits.
As soon as you’ve selected the gift card that you want to buy and click on it, they’d be taken to another page where they have to specify the region and the value of the gift card and the preferred cryptocurrency. In this example, we’ve chosen a League of Legends gift card for the United States, valued at $25 and paid in Bitcoin.
Once you’re happy with the specifications of the gift card, you can proceed to the checkout process. When paying with Bitcoin, users can also opt-in to use the Lightning Network, which is quite exciting.
The process is very seamless and much like shopping at any other e-commerce store. Once you’ve paid for the gift card, you will receive it in your e-mail, and you can spend it with the selected merchant.
Supported Cryptocurrencies and Merchants
One of the impressive features of the platform is the vast array of cryptocurrencies that it supports. These include, but are not limited to:
- Bitcoin Cash
It also supports some stablecoins such as DAI, StableUSD, TrueUSD, and so forth.
They also have a wide selection of merchants such as Steam, Amazon, League of Legends, iTunes, Google Play, Spotify, Netflix, Blizzard, Razer Gold, Nintendo, and others of the kind.
Besides all that, the platform also offers prepaid phone top-ups for over 440 providers spread across over 148 countries worldwide.
Buying Visa and Mastercard Gift Cards
Another convenient feature of the platform is that users can buy Visa and Mastercard gift cards, which allow them to enjoy the convenience of card payments while also keeping the security and privacy of cryptocurrencies.
Buy these gift cards happens in the exact same way as in the one shown above, and there is detailed information on how to redeem the voucher on Coinsbee’s website.
However, it’s worth noting that when users redeem their vouchers, some personal information such as Name, Address, and e-mail, is stored. This is because some online retailers require this data.
Also, prepaid Visa cards are currently only available for the US and Canada. In contrast, Mastercard cards can be purchased by people in the US, Australia, the European Union, Hong Kong, Japan, and the United Kingdom.
Overall, the platform provides a convenient way to purchase general goods and services using Bitcoin and many other cryptocurrencies in a streamlined and easy way.