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Stablecoins accepted by Amazon

Buy on Amazon and pay with cryptocurrencies

Paying with cryptocurrencies is now a reality. These currencies, which a few years ago did not even exist, are today one of the most used ways to make purchases online. Although some may think that most of those who use these currencies can only use them to make their purchases on the deep web, the reality is entirely different today. Not long ago, cryptocurrencies such as Bitcoin, Litecoin, and others became part of our lives. Today you can make your purchases on Amazon with cryptocurrencies.

About a year ago, a way to make purchases on Amazon with cryptocurrencies came to light. This way consists of using a platform called Purse.io with which, in addition to making purchases, it is possible to get discounts. This platform works as an intermediary between someone who wants to buy Bitcoin and another who wants to make purchases with cryptocurrencies

How the Purse.io platform works

It is necessary to have an Amazon account, a Purse account, and cryptocurrencies. Although Purse.io only works with Bitcoin, it is possible to carry out the transaction using any cryptocurrency. Through a system called Shapeshift, the exchange of any cryptocurrency to Bitcoin is made.

If you want to purchase something with cryptocurrencies, the platform does the following: look for someone who wants to exchange fiat currency for Bitcoin. That person is who buys the item on Amazon with dollars, for example. In turn, you pay the equivalent amount to Purse.io in cryptocurrency, and the platform takes care of making the change. You get your item, you have paid in cryptocurrency, and the other party gets their fiat currency exchange to Bitcoin.

Amazon has decided to add to its payment methods the possibility of buying in its store with cryptocurrencies. For this, you need to have an extension called Moon installed in your browser (Google Chrome, Opera, or Brave). This extension offers you two possibilities for payment. The first one is directly through the Lighting Network, a network that routes micropayments on the Bitcoin blockchain. The second form of payment is by associating your Coinbase account. With this method, you can pay, at the moment, in four different types of cryptocurrency: Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), and Litecoin (LTC). When you use this extension, you will be provided with a QR code (and a link, just in case you cannot scan the code) so that you can make the payment with your cryptocurrency wallet. 

Also, note that Amazon will not have direct contact with Bitcoin or any of the other cryptocurrencies. A contracted financial institution will be in charge of making the change from cryptocurrency to fiat currency. Without a doubt, the future has arrived, and paying with cryptocurrencies is already a reality today. 

 

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