Bitcoin is on an adoption trend faster than the adoption trend of the internet between 1997 and 2005. Considering this is when Amazon was founded, it makes you wonder when Amazon, which started out selling only books online, will adopt bitcoin as a payment method.
Do you want to spend bitcoin on Amazon? There is an easier way. Keep reading to find out how to use your hard-earned bitcoin on Amazon.
Is Amazon Accepting Cryptocurrencies Any Day Soon?
Tell us if you’ve heard this one before: Amazon posts a job and Bitcoin surges by 14%. Yes, it’s true, the likes of Amazon and Tesla, headed by the two richest men in our modern times, have the kind of clout to move the economy with a word.
The job posting was for a cryptocurrency position. Amazon was looking for someone to head up leadership on the cryptocurrency front — an expert in blockchain technologies.
The rise of Bitcoin, in this case, also rose all other cryptocurrency boats by double digits.
Following the job posting, there were sources that Amazon was ready to accept Bitcoin and as many as eight other cryptocurrencies. However, not much later Bezos, Amazon, and their PR machine denied the claims.
What they did acknowledge was that the future is in blockchain and cryptocurrencies. AWS does use blockchain technologies as an infrastructure product, so there is hope in the future that Amazon will have a blockchain solution for payment.
For now, though, Amazon has other plans.
How to Use Cryptocurrency on Amazon
You have a few options for using cryptocurrency, especially Bitcoin. The top options are:
- Using a cryptocurrency card
- Buying Amazon gift cards using a cryptocurrency ATM
- Buying gift cards using cryptocurrency ATMs
- Using a peer-to-peer exchange
Using Bitcoin, Ethereum, or any cryptocurrency can be a bit of a runaround. However, using a cryptocurrency card may be the best option, since it can connect to ApplePay and Google Play.
Using gift cards from a cryptocurrency ATM could sound enticing but does bring into question privacy concerns. Peer-to-peer networks also are questionable, as the escrow system doesn’t always work out.
All in all, using a cryptocurrency card is the most secure and easy way to transact on Amazon. All cryptocurrency transactions take place on the backend of the company issuing the card. Fiat currency is transferred from the card to the vendor, in this case, Amazon, seamlessly.
Now You Can Spend Bitcoin on Amazon
While you can’t directly spend Bitcoin on Amazon any day soon, there are ways around this. Now that you know a few ways, you’ll have to find the best solution for you. As technology and regulations continue to make progress, that way right now is likely cryptocurrency cards.
Finding a whole new world opening up, now that you know how to spend your Bitcoin on Amazon like a pro? Keep browsing our articles to find out how to do more with your Bitcoin and more!