The popularity of digital assets has grown today because of their increased adoption by people. What are these digital assets? Cryptocurrencies and gift cards; have piqued the interest of many individuals in using them for various transactions, most importantly trading. With this idea in mind, you may want to know how to buy Amazon gift cards with Bitcoin on a platform like Prestmit.
Bitcoin is the pioneer cryptocurrency that set the pace for over 10,000 cryptocurrencies we have today. This is due to its decentralized feature that has, in a way, revolutionized the financial space, such that there is third-party influence. Hence making transactions fast and relatively cheap, unlike the traditional banking system.
This has helped Bitcoin become a payment method for some companies that adopted it. This means you can use Bitcoin to pay for products or services instead of fiat currencies.
Let’s not forget that Bitcoin is also a digital currency. Therefore, there is still an open debate on if digital currency will replace traditional money. This is because of the spate of benefits that an asset like Bitcoin offers its users.
Moreover, Amazon is one such company that accepts Bitcoin as a payment option. Therefore, you can use your Bitcoin for your preferred product on the Amazon store; as you know that you can buy almost everything in the store.
As a result, the use of Bitcoin to buy products on Amazon does some magic of bringing you the following:
- The convenience of buying on the Amazon
- Ease of currency conversion as products on Amazon are valued at US dollar
- Quick payment confirmation
In the foregoing, Bitcoin is a great payment method to access a wide range of products on the Amazon store.
Understanding Amazon Gift Cards And Bitcoin
Amazon gift card is a prepaid card of stored value that you can use to shop on the Amazon store. This card exists in physical and digital forms, and Amazon is the brand that issues them. Although it has other benefits, you can only use an Amazon gift card on the Amazon store. Some of the uses of the card are:
- Convenient shopping
- Give to a loved one as a gift
- You can sell Amazon gift cards for cash or cryptocurrency
All these benefits are possible because the gift card holds real-time face value, making it one of the best gift cards with the highest rates. Therefore, it positions Amazon gift cards as a viable digital asset.
Amazon cards are in various denominations, enabling you to spend them on any purchase on the Amazon store.
For instance, if you have a $100 Amazon, you can buy the product(s) within this value at the store, but you can not exceed your Amazon card balance. This, in a way, also guides you from an event of impulse buying.
Meanwhile, it is common knowledge that you must buy an Amazon gift card to use it on the Amazon store. But there are different options for buying an Amazon card, such as card payments or wire transfers if you are in the United States. People in and outside the United States can use Bitcoin, a digital currency that has gained prominence globally.
In its right, Bitcoin is an expensive digital asset that allows you to buy products at stores or from businesses that accept it. Therefore, using your Bitcoin to buy another digital asset like gift cards is possible and easy. This is due to the following advantages it provides when you use it for such transactions:
- Convenience of purchase
- Low transaction fees as a result of currency conversion
- Anonymity of use when you use your Bitcoin
How To Create A Bitcoin Wallet
Bitcoin wallet is important for Bitcoin-associated transactions. Therefore, it is imperative to know how to create a Bitcoin wallet. The Bitcoin wallet enables you to receive, store, and send Bitcoin. It functions in a way similar to your bank account.
But if you want to buy an Amazon gift card with Bitcoin on Prestmit, you must create a Bitcoin wallet on the platform.
The following are the quick and easy steps to create a Bitcoin wallet on Prestmit:
- Log into your Prestmit account
- Click on “Wallet”
- Navigate and click on “BTC Wallet”
- Your Bitcoin wallet is ready to use
- You can download the wallet QR code or copy the address
However, it should be noted there are three (3) types of Bitcoin wallets: software wallet, hardware wallet, and paper wallet.
Software or hot wallets are online wallets available with digital platforms like Prestmit. You can easily create a wallet, just like Prestmit, and you can start receiving, storing, and sending your Bitcoin from the wallet.
There is a private and public key with your software wallet. In comparison, a public key is an address you give to people to send Bitcoin and a private key grants you access to the Bitcoin. This is why you must always keep your private key safe.
How To Acquire Bitcoin
There are different ways to buy Bitcoin to enable you to also buy Amazon gift cards. These are digital assets that you must acquire through digital means. Different platforms sell Bitcoin. So let’s look at them.
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Cryptocurrency Exchanges
You can buy your Bitcoin from various exchanges available in the crypto market. These platforms often have a wide range of payment options for users to acquire Bitcoin. Popular of these exchanges are Binance and Coinbase. Binance is notably the world’s largest crypto exchange by daily trading volume.
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Peer-To-Peer (P2P) Platforms
These are digital trading platforms on which buyers meet sellers for Bitcoin-related transactions. Here, the two parties negotiate on the best rates of Bitcoin to forge a deal. These P2P platforms only serve as the medium of their meeting but do not determine the trading rates between buyers and sellers.
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Over-The-Counter (OTC) Platforms
This is another digital platform on which you can buy Bitcoin. This platform offers the rate of buying and selling Bitcoin, mostly compared to the average Bitcoin rate across the crypto market. A major example of an OTC platform is Prestmit, which offers the best Bitcoin rate in Nigeria and Ghana.
How To Register On Prestmit And Verify Your Account
Here are the quick steps to register an account on Prestmit:
- Download the Prestmit app on Google Play Store or Apple Store
- Create a Prestmit account and log in
- You will be required to provide some personal information for know-your-customer (KYC) purposes to verify your account
- Your Prestmit account is now ready for use
How To Buy Amazon Gift Card Using Bitcoin On Prestmit
Are you ready to buy an Amazon gift card after creating and verifying Prestmit? Do not forget your Bitcoin wallet on Prestmit must have also been ready. So let’s buy an Amazon gift card on Prestmit with these few steps:
- Log into your Prestmit account
- Click on “Buy & sell gift cards”
- Click on “Buy gift cards”
- Navigate to the Amazon gift card section
- Enter your preferred value of Amazon gift card and choose the quantity
- Click on “Continue”
- Ensure to click to accept the terms and conditions for the purchase
- Click on “Proceed”
- Choose “Pay with Crypto” as your preferred payment method
- Click on “Complete purchase”
- You will be required to “Make Crypto Payment”
- The amount of Bitcoin will be displayed to you, and the address to send your BTC
- Copy the “Bitcoin address” and “Payment Reference ID”
- Proceed to complete the transfer
- You will immediately receive your Amazon gift card in your email
Tips For Buying Amazon Gift Cards With Bitcoin On Prestmit
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Check The Denomination Availability Of Amazon Amazon Gift Cards
There is a range of countries of Amazon gift cards on Prestmit. Therefore, you must know your preferred country of Amazon card you want to buy. Also, you need to know the denomination range of these gift cards to give you an idea of the threshold and maximum value limits.
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Confirm Any Restriction Of Buying Gift Card With Bitcoin
Notably, Bitcoin is not legally accepted as a payment method globally. So you must understand if there is a restriction in using Bitcoin to buy gift cards from your country or region. A good knowledge of this would guide you in your decision of purchase.
Safety Measures For Buying Gift Cards With Bitcoin
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Keep Your Bitcoin Wallet Safe
Keeping your Bitcoin wallet safe is important, just as you do with your bank account. Ensure that your vital details and private key is out of reach to prevent an ugly event of theft.
Your funds are safe if you can keep your Prestmit and Bitcoin wallets safe. Prestmit has a sophisticated security infrastructure to protect its users’ funds. This is one of the features that make us one of the best gift trading platforms in Nigeria, Ghana, and Africa. But it is incumbent on you to also play your part by being proactive to keep your wallets safe.
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Ensure To Copy The Right Bitcoin Address
Buying an Amazon gift card with your Bitcoin on Prestmit means you will be sending Bitcoin as the fund for the purchase. As such, you must avoid mistakes in copying the correct Bitcoin address to enable the successful completion of your purchase.
Conclusion
Amazon gift card is an excellent gift card as it opens you to many opportunities for buying on the Amazon store. One of the viable ways to buy this card is using Bitcoin, as it provides you with a good level of convenience and safety.
However, buying your gift card at a reliable and credible place such as Prestmit at the best prices you can not find elsewhere than with us is essential.
