Gyft Drops Bitcoin Bombshell on Black Friday With 4% Back on Gift Cards Purchased With Bitcoins

Gyft Drops Bitcoin Bombshell on Black Friday With 4% Back on Gift Cards Purchased With Bitcoins

Gyft (, the leading mobile gift card company, has announced that it will provide an unprecedented 4 percent points on gift-card purchases made on Thanksgiving Day and Black Friday using Bitcoin. For non-Bitcoin users, Gyft will provide 3 percent points back on PayPal purchases, and 2 percent points back on credit card purchases. These percentage points will be rewarded in the form of "Gyft points" and may be exchanged for new gift cards.

Gyft currently sells gift cards from more than 200 retailers, including top retailers like Foot Locker, CVS, Kmart, Sears, Target and Zappos; apparel manufacturers, including Columbia Sportswear, Gap, Lands' End, Nike, Old Navy; restaurants, electronics, and much more. The promotion will begin at 9 p.m., Pacific Standard Time, Thursday, Nov. 28, and ends at 11:59 p.m., PST, on Friday, Nov. 29.

Gyft allows consumers to buy gift cards through their mobile phones, eliminating the expense and hassle of mail order or in-person purchases, as well as adding security lacking in physical gift cards that leave them prone to theft and fraud.

For the first time, holiday shoppers can buy gift cards that can be used at more than 100,000 physical stores across America, as well as more than 200 e-commerce sites. Unlike plastic cards, which can be lost, stolen or hacked, Gyft allows shoppers to carry hundreds of gift cards inside a single app, with secure password protection and cloud-based backup.

Besides its ease of use for mobile phone users (available for free download at the iPhone or Google Play app stores), Gyft integrates with Facebook, email and text, so gifts can be sent quickly and securely throughout the world. Gyft even lets users track whether the gift cards purchased for friends and family have been used, and it lets gift recipients re-gift the card to others.

Gyft has not only been a pioneer in mobile gift cards, but in Bitcoin e-commerce, with several thousand Bitcoin transactions to date.

"We are happy to be offering an extra 1 percent back on all purchases, be they by credit card, PayPal or Bitcoin, so everyone can have a happy holiday," said Vinny Lingham, Gyft's co-founder and CEO.

"There are no transaction costs, and in the case of Bitcoin, one is able to eliminate all risk of currency fluctuation by seeing the exact exchange rate at the time of purchase."

About Gyft

Gyft was founded in January 2012 by Vinny Lingham, CJ MacDonald and Mark Levitt with a goal to disrupt the existing $100 billion gift-card market. Gyft provides a gift-card platform for consumers and retailers that lets customers upload, buy, send, and redeem gift cards conveniently from their mobile device. Gyft is seamlessly integrated with Facebook so users can send gift cards to their friends around special events. Gyft is a private company funded by Google Ventures, Karlin Ventures and Ashton Kutcher's A-grade investments, with offices in San Francisco.

For more information about Gyft, visit

Related News

Gyft Launches Rewards Platform

Just this morning, Gyft, Inc, the lead mobile gift card company announced the Gyft Points program to reward customers for use of gift cards. In May of this year, Gyft began accepting Bitcoin for payment back and as a result exponentially increase the growth of the number of opportunities for individuals to shop with Bitcoin. An individual is able to purchase 1 of 50,000 gift card options and as a result put Bitcoins to use. Gyft put out the following press release: Gyft Launches Rewards Platform to Give Consumers Up to 3% Back on Gift Card Purchases. Expands Options for Payment to Include....

BuyGyft Tries to Scam Gyft Customers, Unsuccessfully!

Gyft users were faced with a phishing scam offering huge discounts on gift cards against Bitcoin payment. Gyft acts in time to save the day. Did you receive an email from Gyft informing you about an exciting offer on their gift cards? If yes, then you were probably one of those people who were targeted by scamsters. According to a report on social media, unknown individuals have tried to capitalize on the ongoing Black Friday weekend shopping spree to scam few bitcoins out of unsuspecting customers. In order to do so, they used a phishing website resembling Gyft. Few Bitcoin users have....

Gyft Offers 4 Percent Points Back on Bitcoin Purchases for 24 Hours

On Christmas Eve, gift card-buying service Gyft has announced that for a short time, purchases of gift cards made in bitcoin will earn 4 percent points back from Gyft. Compare that to using a credit card (1 percent points back) and PayPal (2 percent points back). "Given the huge demand and success of Bitcoin Black Friday, we decided to repeat the promotion as a once off for the next 24 hours only (until midnight PST, Dec 25th)," says the announcement. It's interesting this would happen so late (given Christmas is tomorrow), but we reckon it's being offered as a gift to the customer themselves.

Bitcoin Magazine Congratulates Gyft's Opening of 50,000 Locations to Bitcoin via BitPay, Inc

Just this morning, BitPay, Inc announced it's newest merchant, Gyft. Gyft, a mobile gift card platform, added support for Bitcoin purchases of gift cards on the Android platform, through its partnership with BitPay Inc, the world's leading payment processor for Bitcoin. Gyft offers a mobile gift card app to allow customers to buy, store, send, and redeem gift cards on their phones. In addition to a free phone app, customers can share gift cards via Facebook. Gyft works with 50,000 physical retail locations across the USA including GAP, Lowes, Sephora, Gamestop, American Eagle, Sports....

Gift Card King Gyft Teams Up with Coinbase for Seamless Transactions

It wasn't long after the announcement that Coinbase raised $75 million in funding that Gyft announced they've modified their platform to work with the Coinbase wallet. Now that they allow for the purchase of bitcoins through different bitcoin methods, Gyft joins the ranks of the few companies that allow for this kind of diversification. "Gyft is all about choice and flexibility," said Vinny Lingham, co-founder and CEO of Gyft. "That's why we offer gift cards from hundreds of retailers and why we accept a wide variety of payments methods." According to Lingham, the company is excited about....