Cryptocurrency adoption means that one day, we’ll be able to buy apples with Bitcoin, take taxis with Ethereum and take out mortgages with XRP. Whilst some of the above might already be possible in some niche environments, from a commercial perspective, cryptocurrency adoption isn’t feasible just yet.
This is where cryptocurrency gift cards come in. Cryptocurrency gift cards allow investors and traders to use their crypto to purchase gift cards that have an inherent store value. So, whilst you can’t always directly buy apples with Bitcoin, you could end up purchasing a gift card using Bitcoin, for a store that sells apples. It’s a simple idea, but gives cryptocurrency a sort of demi-adoption that helps us at the very least, simulate how cryptocurrency adoption might exist in the future.
According to a new report by Bloomberg, famed cryptocurrency exchange Coinbase have entered a new partnership with London based firm WeGift. WeGift offer a service that allows people to purchase over 120 different types of gift card with cryptocurrency, such gift cards include; ASOS, Uber, Ticketmaster, Tesco, Google Play and Nike.
Coinbase users can now link their wallets with the WeGift platform- https://wegift.io/coinbase/
According to Bloomberg:
“The program will initially only be available to customers in the U.K., Spain, France, Italy, the Netherlands and Australia, though Coinbase ultimately plans to expand into other countries.”
Moreover, according to Bloomberg, a spokesperson from Coinbase has said:
“Whether it’s converting Bitcoin into Uber credits or Ethereum into an ASOS e-gift card, customers will have greater flexibility and control over how they use their crypto. With the launch of e-gift cards, customers have a new option to spend their crypto balances, realizing its value to buy tangible things or experiences.”
This is a novel concept but indeed acts as a great simulation of how cryptocurrency might exist in the mainstream. Moreover, this can be used to make very wise investment choices and can even be used to make your daily shop a little cheaper. As it is online and instant, users are able to convert their crypto to gift cards in an efficient manner that in turn, could help you save money. Most importantly though, this sort of service continues a guaranteed flow of cryptocurrency, encouraging more spending and more buying, a prospect that can only be promising in today’s climate.