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Nordstrom and Whole Foods to accept cryptocurrency payments directly. It has come. The first big announcement coming from Consensus this week in New York, and it’s a big one. One of the newest payment processors called Flexa has launched and is partnered with Gemini, which is a large bitcoin exchange based out of New York and is underpinned by it’s own ERC-20 token called Flexacoin.
How does it work? You pay for your items using Flexa’s app, Spedn, which generates a QR code that you scan at the checkout register. The merchant receives immediate payment in dollars, and the equivalent amount of cryptocurrency is debited from your cryptocurrency wallet in the Spedn app.
Whole Foods, which is owned by the e-commerce behemoth, is now accepting bitcoin as a payment method. The mind-blowing development was made possible thanks to a deal between payments startup Flexa and Gemini, the latter of which is the crypto exchange launched by Tyler and Cameron Winklevoss.
Users only need to download an app dubbed Spedn and can make everyday purchases using cryptocurrencies including bitcoin, ether, Bitcoin Cash, and Gemini Dollar (GUSD). Considering that GUSD is the stablecoin of the Winklevoss’ Gemini exchange, it’s not surprising that it’s being supported as well. GUSD should will introduce some stability into crypto payments given its peg to the U.S. dollar and the volatile nature of the bitcoin price. As crypto investors have come to expect, there are no hidden fees or markups, so consumers will be incentivized to use the app.
Everyone knows that Nordstrom and Whole Foods customers are already “being green” given that the grocery no longer uses plastic bags. Wait till shoppers outside of the crypto community learn about bitcoin.
AMAZON’S MARKETPLACE COULD BE NEXT
Earlier this week, it was rumored that Amazon’s competitor eBay would stop using paypal and start accepting crypto payment directly on the site, and will facilitate payouts to sellers via that method as well. This is a key move as this is a large eCommerce retailer that does millions of transactions each month have found a way to implement a safer, faster, and cheaper payment system.
Tyler and Cameron Winklevoss have been mum about this secret but now that it’s out of the bag, there’s nothing stopping wide-scale adoption of bitcoin.
The Flexa/Gemini/retailer partnerships are really a reflection of the best of both worlds. The technology builds on existing payments infrastructure that’s used to accept digital payments such as Apple Pay, for instance. All the retailers must do is tweak their scanners to identify payments from the Spedn app. Customers are already familiar with tap-and-go with their mobile device, so there’s nothing new for them to do. There are no additional hoops for the cashier to jump through that might slow down the line. As for the merchant, they can either accept to take the payment in crypto or convert it into fiat money.
For the crypto ecosystem, the announcement is what everyone has been waiting for. It means that if Whole Foods can accept bitcoin and other cryptocurrencies, theoretically Amazon’s entire marketplace can integrate the infrastructure to do the same, seemingly with Flexa. In the U.S., Amazon Prime customers reportedly dole out an average of $1,300 per year on the e-commerce marketplace vs. $700 for non-members.
In addition to Whole Foods, the initiative extends to other merchants including Crate and Barrel and high-end retailer Nordstrom. The Flexa network is comprised of more than 30,000 stores and finally thrusting crypto into the spotlight for micro-purchases such as a cup of coffee, pizza, or electronics.
WHY THIS IS GOOD AND BAD
This will require people becoming aware of this change. This is amazing news, but there is always a learning curve when people start to adopt a new method of payment. People have been using only cash and credit card essentially for the last 60 years and it will take a an older generation and a newer generation to find ways to change their spending habits. That is the Bad.
Here is the good. With new innovation, comes new possibilities. Why would merchants want to start accepting crypto? First off, there are no chargebacks. It was reported that merchants can be charged upwards of $300 per chargeback when accepting credit cards. With cryptocurrency, the charges are irreversible. That’s not to say that you will not be dealing with customer service and/or returns in your business, but this is a HUGE advantage for no longer having to deal with credit card disputes.
Additionally, the fees to accept credit cards are typically anywhere from 2-5% per transaction, plus a $0.39 cent fee each time you accept a credit card. That’s absurd. As more and more awareness of this alternative, mixed with consumer confidence and adoption of spending cryptocurrencies on a consistent basis, the credit card companies and banks will hopefully soon be a thing of the past. Soon, it will almost be as antiquated as paying with a check.
THERE IS STILL A BETTER ALTERNATIVE TO THIS!
What if you could EARN cryptocurrency by shopping at these stores already? You can. I recently wrote an article on the new Life Info App that allows you to connect your bank account or credit card and use a shopping app that essentially allows you to create an instant electronic gift card, and save anywhere from 2-10% off on any purchase you make at thousands of retailers (including Nordstrom and Whole Foods).
How does this work? When you download the free app, you can use online or in person purchases on thousands of stores and brands and save on each purchase. The money that you save on each transaction is accumulated in the wallet and can be converted directly into Bitcoin! You can also convert it into several other altcoins that are supported by Coinbase as that is how you convert your savings directly.
This is a GREAT way to dip your toe into the cryptocurrency world, WHILE saving money at these stores you are already spending money at anyways, you may as well get free Bitcoin to do so.
If you refer to my review link I mentioned above, there are some demo videos that explain the entire process and it’s super easy to use. To me, this is a great bridge to get people familiar with the process. Additionally, you can then send your newly acquired bitcoin to the Spedn app, if you so choose. Please use my link here to get your free download and check it out.
All in all, this is very positive news for the cryptocurrency world, and this is a large first step in bringing the utility of cryptocurrency into the real world and offering people a BETTER alternative to our failed legacy financial system. Any tool that helps people transition from the inflationary dollar to the sound hard money of bitcoin, is something I support. The easier it becomes and the lower the barrier to entry is, we will begin to see MASSIVE droves of people start to transition from fiat to crypto.
What do you think? Is there a better way for us to start gaining mass adoption and utility for crypto payments? Let me know in the comments below!
The Crypto Renegade
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In this review, I will be going over the 3 best ways on how to buy gift cards with bitcoin in 2019. There are 3 trusted sites (and one app) that are used to buy gift cards very easily and it happens almost instantly. You can choose whether or not to email you the redemption code for the gift cards digitally via email, or you can choose to have them shipped as a physical card to your friends or family if you are going to use it as a gift.
It all is very easy, and more importantly, it proves that there is real world utility for bitcoin (in case you didn’t know that already). Let’s get right to the best ways to go about this below!
Before I get to these 3 options, I will recommend you first check out the LIFE INFO APP. This does the reverse and allows you to earn free bitcoin AND save money on thousands of merchants, just like the resources below. I HIGHLY recommend using this free app, because it’s a great way to start accumulating bitcoin for free while saving money on purchasing items you are already buying anyway. I will leave a link to the review that explains this free app HERE.
How To Buy Gift Cards With Bitcoin
This website offers a fully functioning website and a full service mobile app as well, but you can get pretty much any type of gift card you can think of. It’s essentially the Amazon of of buying gift cards and the selection is huge. It covers anything from pizza gift cards to department stores, like Macy’s to Best Buy to Cruises and Airlines.
This really is one of the largest sites that allows you to buy gift cards and isn’t fully dedicated to bitcoin. (we’ll get to that option below). You can actually buy these gift cards with any payment method, but bitcoin is an advertised method for doing so. I have used it once on this site and it’s fairly straight forward with scanning the QR code with my phone and authorizing with my BitPay wallet.
This probably has the largest selection of gift cards, but one thing I wish they did was incentivize the use of bitcoin by offering a discount for purchasing these gift cards, but for them it just appears to be another payment method.
If you want to save money and get discounted gift cards with bitcoin or bitcoin cash, I would recommend trying out Purse.io, which is Amazon built on top of a new platform that specifically deals in bitcoin payment. You can check out my review and recap in this article I wrote HERE.
This is a site that I love using because it was built specifically to help propel bitcoin being used in commerce specifically. Not only that, you can buy gift cards with Bitcoin, but you can also use several other altcoins as well. You can also top up gift cards on your phone in any denomination you need and it offers over 750 different gift cards, so it has a VERY large selection, just like above.
You can also use Lightning Payments for ordering bitcoin as well. This is a new development, but one that is very welcome. I just downloaded my first wallet for the lightning network and it was really fun to see it in action! Granted, I haven’t tested it out on a purchase here, yet.
However, I plan to do that very soon on my next gift card purchase. I always try to support businesses that support bitcoin payments, but especially ones that were built on the promise of bitcoin being a peer-to-peer electronic cash system that was developed by the elusive Satoshi Nakamoto.
Overall, this is probably my favorite place to buy gift cards when I pay with bitcoin or any other altcoin, because of it’s dedication to this cause. I also had a smooth experience and had the physical cards shipped to me within 3 days and arrived on time and as described.
The one thing that also makes this different, is you can pay your phone bill and cable bill with bitcoin. How? Well, you can purchase a specific gift cards amount, say $94.36 if that’s your phone bill amount, and use that to pay your monthly Verizon, T-Mobile, AT&T, or Sprint Bill. Pretty neat.
Also, you can do this with your cable bill if you use Cox or Xfinity if you’re in the U.S. The same thing applies where you can purchase a gift card for an exact amount and use it when you go online to pay your bill. Pretty cool if you ask me!
#3 BITPAY WALLET APP
This is my number one go to mobile wallet because of it’s utility. I also have a visa card that I can load up my bitcoin on directly, so it’s all managed and very easy to use in the app. But, it also offers integrations with Coinbase and you can buy gift cards directly from your wallet there.
The only downside is, it supports only Bitcoin (BTC) and Bitcoin Cash (BCH). If you are using any other cryptocurrencies with your day to day spending, then I would go with something else, but I use this one every single day, because the user experience is top notch.
In terms of gift cards, here is an article the wrote when it was rolled out last December HERE. Ultimately, it doesn’t quite have the features or selection that the other two offer, but when you use this mobile wallet for the debit visa card and for other everyday spending, it makes it easier to manage it all in one place..
It covers some larger name retailers like: Uber, Delta Airlines, Hotels.com and Amazon. There are other options, and they are adding more all the time, so keep an eye on that. Overall, I personally use this option the most as I mentioned above I have a lot of services integrated with this wallet and I’ve never had a bad experience.
These are the easiest steps on how to buy gift cards with bitcoin! Overall, I have a clear favorite in the list above in terms of specifically buying gift cards and that is Bitrefill.com, but that does not mean the other options are bad. I have personally used all 3 of these and they all have a good user experience.
The difference lies in their business models and the personal branding and position in the marketplace. They are all reputable and I can recommend all of them, but I still have a soft spot for “Bitcoin Companies” in general, and that’s just an emotional leaning on my part.
If you ever need to see some previews of get some other commentary, watch the video I did above that goes over this and shows you how to go about this process. Give these a try when you have a holiday, birthday, or any other type of event when a gift card would be appropriate. you won’t regret it.
What do you think? Are there better ways to buy gift cards online? Let me know below in the comments!
The Crypto Renegade
NOTE: This post may contain affiliate links. This adds no cost to you but it helps me focus on giving as much value as possible in every single post by being compensated for recommending products that help people succeed.Post Views: 825
In this Lolli review, we are going to deep dive into what the Lolli App is how it works? How hard is it to use? Can I really earn free bitcoin? Is it worth my time? How does it all work? Luckily, we are going to address all of these questions and MORE in this review, so sit tight and learn why this revolutionary app can help you accumulate free bitcoin for what you are already doing anyways!
This review will go into how to shop online and earn free bitcoin, but there is also another app I’ve been using recently that explains a free app where you can earn free bitcoin while shopping in major stores in person as well. This is called the Life Info App, and you can read my in-depth review of that HERE.
Let’s get right to Lolli!
How Does It Work?
I’m sure you’ve heard of “Cash Back Rewards” before, as that’s a common thing these days when shopping and using your credit card. Lolli has come up with their own version of this, but it’s MUCH more interesting (to me, anyways). It’s earning bitcoin back.
So what does this mean? Well, it means that when you shop online on over 500+ major retailers websites, you can now earn a percentage of your purchase in free bitcoin rewards back. There is a list of supported retailers, which you can find HERE.
These stores vary in terms of what percentage of bitcoin they will give back as a reward, but it typically ranges anywhere from 10-15% and includes major retailers, like Groupon, Best Buy, Marriot, Sam’s Club, GoDaddy, and even Walmart.
As a privacy advocate, I will share a secret of the largest discount I have found yet at a whopping 37.5% bitcoin back and it’s for a trusted VPN service, called PureVPN. Use this link HERE to get not only a special discount for my readers, but the chance to get the largest discount I have yet to find (and I’ve tested this out on hundreds of sites).
Lolli Extension + Wallet
The Lolli Chrome extension is the most common way people interact with Lolli, and it also includes a bitcoin wallet built in. Once you accumulate at least 15$ worth of bitcoin, you can then transfer it to your mobile wallet, or what we recommend, a hardware wallet to store you new bitcoin earnings offline, while keeping your private keys secure.
Here are the steps to download the wallet (you can also watch the review/walkthrough video below) if that’s easier for you.
- Download the Google Chrome Extension HERE. You can also download the FireFox extension and Safari Browser extensions, HERE and HERE, respectively.
- Once you download and activate the extensions, it will walk you through registering an account with your email and walks you through how to use it, but its very simple. Once you open a website that is supported by Lolli, it will automatically notify you in the top right corner of your browser, much like a small pop-up ad.
- Start shopping. You can simply navigate to any website you normally would and if it’s partnered with Lolli, it will notify you and as long as you are logged in with your account credentials, you will receive a bitcoin rewards immediately after the purchase has been processed.
Why Should I Use It?
If you are new to Bitcoin (and those of you who aren’t) should know that accumulating bitcoin can be an expensive and time consuming endeavor. Any edge and any advantage to accumulate bitcoin for free (especially by doing things that you’re already doing, like shopping online) is a win-win.
Bitcoin is the new currency of the future. Even people that hate it know that it’s inevitable and cryptocurrency is here to stay. As of this writing, Bitcoin is going for about $9,700 per bitcoin, so this allows you to start accumulating this digital currency over time and allows you to spend, save, and even cash out into fiat if you’re so inclined.
Even if you don’t care about bitcoin, this is basically a freebie. You don’t have to buy anything special, or have a minimal spending amount to use this. It either works with the entire retailer or it doesn’t. They will be adding more and more retailers as time goes on, and there is a rumor that Amazon will be added very soon.
When you download and activate this LINK, we both will receive 10$ worth of BITCOIN FOR FREE with your first purchase. No minimums. Additionally, once you sign up, you will receive your own referral link that you can share with friends, family, or any followers, and the same will apply to you. Very cool.
What Retailers Are Accepted?
As I mentioned above, there is over 500+ retailers that are currently supported and counting. This list is constantly growing, but a few examples include: Groupon, Best Buy, Marriot, Sam’s Club, GoDaddy, and even Walmart.
You can get a full list of retailers and their respective discounts by visiting this page HERE.
Additionally, you will automatically be notified on any website that may not be listed on that page by popping up when you visit the site. However, the above link is primarily up to date at all times.
Lolli Review – Conclusion
Ultimately, Lolli is an amazing product. There are very few programs that make it easy to earn bitcoin at all, let alone get it for free. There is no doubt that as the crypto-ecosystem inevitably grows, there will be plenty of bitcoin rewards and bitcoin cash back type of programs, but this is an amazing start.
As the price goes up and and the overall bitcoin supply goes down, this will become more important than ever. Currently, 85% of the total bitcoin supply is in circulation. Once it is all mined, even if every single millionaire on the planet wanted to obtain just ONE bitcoin, they won’t be able to. There just isn’t enough supply. This scarcity is a strong dynamic of supply and demand and will ultimately dictate the price.
Right now, this the BEST tool to earn free bitcoin on items you are already purchasing online. If you also want to earn bitcoin while shopping in stores as well, check out the review I mentioned in the first paragraph to use the Life Info App to start earning it as well.
Don’t get left behind on this revolution. We are still “early” but as more and more awareness is brought to the table, the harder it will be to get bitcoin at all. Download the FREE Lolli Extension below now.
What do you think? Is there a better tool for earning free bitcoin while shopping online? Let us know down in the comments!
The Crypto RenegadePost Views: 853