Gift Cards Highlight the Potential of Spending Crypto as Actual Currency

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Gift Cards Highlight the Potential of Spending Crypto as Actual Currency

Post by theDarkGoatisBAAAAD » Mon Jun 25, 2018 4:09 pm

The number of use cases related to cryptocurrency is relatively small. Especially for regular consumers, there is little to no appeal in this regard. As such, gift cards may present an interesting stepping-stone toward taking cryptocurrency mainstream in the years to come.

Gift Cards and Crypto
People who have been involved with cryptocurrency for some time now know of gift card services related to Bitcoin. Gyft and eGifter are two interesting examples in this regard. Users can purchase major brand gift cards with cryptocurrency. As such, they can – indirectly – spend cryptocurrency at said retailer whenever they feel the need to do so. It is a concept that works quite well, although still only targets a niche market.

Another interesting solution comes in the form of Fold. This mobile application lets users buy virtual Starbucks debit card balances with Bitcoin. Any excess balance can be converted back to cryptocurrency at any given time. While only limited to locations with USD transactions, it has proven to be a popular use case.

Both of these developments are pretty interesting for the gift card industry. Since gift cards are also great presents to friends and family, spending cryptocurrency can achieve many different goals. It would also highlight the potential of Bitcoin and altcoins as an actual currency, rather than being a store of value. ... -currency/

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