Traders on Paxful sell $16.2M of Bitcoin for discounted gift cards each week
A new report has found almost half of all Bitcoin traded on the P2P exchange Paxful is exchanged for gift cards. A report published by Arcane Research has revealed that nearly half of Paxful’s trade volume comes from trade between Bitcoin (BTC) and gift cards.The report found that, “purchasing Bitcoin with gift cards has been the preferred solution on Paxful each month throughout the five-year span analyzed,” and in June accounted for 48% of Paxful’s volume. Paxful processes nearly $40 million in weekly trade, which means up to $20M of BTC is exchanged for gift cards every week. Arcane....
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Do you have bitcoins and don't know how to spend it on one of the large format stores or an e commerce site that does not accept bitcoin. There is a solution for that and it's called gift cards. There are many services that allows users to buy and sell discounted gift cards for bitcoin. Some of them include Gyft and Fold. Now there is another service by the name CardCash added to the list. CardCash is an American online discounted gift card site which has been around for a while, but they are now back in the news for introducing bitcoin payments on their platform. According to the CEO of....
Gyft Cloud is a cloud-based digital gift card solution. Gyft is pretty well-known in the bitcoin world. The service allows users to purchase digital gift cards with bitcoin or credit card for hundreds of retailers. Users can also upload their plastic gift cards to their Gyft wallet so that cards can be stored securely and retrieved anywhere with an Internet connection. And now, Gyft is expanding its services to merchants with Gyft Cloud - “the ultimate mobile gift card solution.” “Offering plastic gift cards can be cost prohibitive and an operational nightmare for small to mid-sized....
Looking for an easy medium to trade Bitcoins (buy or sell) against cash, Paypal, gift cards, bank transfers and others? Bitcoins for all your need. Earn money or spend it, your new online currency the bitcoin gives you the much-desired anonymity along with flexibility in the amount of money you spend. Indeed, one may spend in thousands or even in fractions of a penny with the help of bitcoins. Paxful helps you cover all your bitcoin needs. When you buy bitcoins at Paxful, it sets up a wallet for you instantly. Through this, you can transfer your money or indulge in trading with your....
Bitcoin is a booming business in the United Kingdom, assuming one knows how to play their cards right. Gift Off, a company specializing in selling gift cards for Bitcoin, recorded an all-time high turnover in February of 2016. Cryptocurrency enthusiasts in the United Kingdom will have heard of Gift Off before, as this Norwich-based online shop sells gift cards in exchange for Bitcoin payments. Up until this point, the company has sold close to GBP2.1m worth of gift cards, of which over GBP200k was processed last month. Considering how Gift Off is focusing on various gift cards, it seems....
One of the more common ways for consumers to spend Bitcoin is by buying gift cards from various retailers and outlets. Popular Bitcoin gift card services will often offer a small discount on every purchase. Giving consumers an extra incentive to spend digital currency. A recent survey by CardCash shows how Starbucks gift cards are a clear fan favorite, whereas Visa Gift Cards are far less preferable. Most of these trends seem to correlate with how consumers would spend USD balances on gift cards, though.