May 15, 2013

Where Can I Spend Bitcoins?

As Bitcoin grows in popularity, we are seeing more and more businesses beginning to accept the virtual currency, from small specialty shops to large brands. While our blog is generally focused on earning bitcoins, today we're going to take a moment and go over some newer options for spending bitcoins.

Gyft is a mobile gift card platform that recently added support for bitcoin purchases of gift cards via its Android app. This immediately opens up over 50,000 retail locations across the US to bitcoin holders. What we love about this service is that there are no fees for purchasing gift cards. What we don't like is that the service is restricted to the US.

Coingig is a marketplace where anyone from around the world can buy or sell products using Bitcoin. They launched about a month ago and already have hundreds of products up for sale. Buying from Coingig is easy and safe—payments are protected with an Escrow system. They also have a simple and fair refund policy to ensure buyer satisfaction. Also interested in earning bitcoins? It's easy to set up a store, and their 2.5% selling fee is very competitive.

BitcoinStore is the largest electronics retailer that deals exclusively in Bitcoin. By taking advantage of Bitcoin's unique properties of no chargebacks and minimal fees, they are able to maintain highly competitive prices. Some products on BitcoinStore are even cheaper than on Amazon or Newegg. BitcoinStore officially launched a few months ago and has already generated over 6,000 BTC in sales.