As the crypto market shows signs of recovery and your portfolio is (hopefully) in the green again, it may be the right time to finally treat yourself and spend some of your precious internet coins on real-life goods.
But how does one spend their crypto? Although cryptocurrencies are accepted as legal tender by a few nation states like El Salvador and even some major companies like Tesla, GameStop, and Gucci, consumer and retail crypto adoption is still in its nascent stages. This means that in most cases you would need to off-ramp, which, in crypto speak, means cashing out from crypto into fiat money, like the US dollar.
Since off-ramping basically means moving value between two totally separate monetary systems, the process can be quite messy and exhausting. For instance, cashing out through a centralized exchange can take anywhere from several hours to several days, plus KYC screening for identity and ID documents — obviously not the best choice if you fancy using your crypto with the same speed and agility as fiat money.
Luckily, there’s always another option — to buy gift cards from a wide range of retailers with your Bitcoin and altcoins directly from your wallet. And although the “gift” part implies that these cards are given as gifts, they can also be a convenient way for holders to spend their crypto on tangible goods without planning their shopping two days ahead, as would be the case with off-ramping through exchanges.
Do I have you hooked already? If yes, you may want to consider Coinsbee, a reliable and easy-to-use service where you can purchase gift cards from hundreds of merchants and services around the globe for Bitcoin and 100+ other crypto.
What is Coinsbee?
Coinsbee is basically a website where you can spend your crypto on gift cards for real-life products and services. The platform allows users to purchase gift cards from over 2,500 regional and global e-commerce platforms, brands, and retailers, including Amazon, Netflix, Steam, PlayStation, Uber, Spotify, Decathlon, Fortnite, Nintendo, Adidas, and Tinder, just to name a few. Coinsbee features brands from over 165 countries, and you can always filter available options by region to view offers relevant to your account.
If you never used gift cards before, just know that they are prepaid vouchers that are loaded with a specific amount and can be used as an alternative to cash to pay for goods and services from a particular retailer. With these cards, crypto users can easily spend their holdings without the need to convert to fiat.
What’s more, at Coinsbee, offers aren’t limited to just gift cards — prepaid credit cards from Visa, PayPal, American Express, and Mastercard are also in abundance, as are mobile top-ups from over 440 providers and various game vouchers.
Coinsbee supported cryptocurrencies
As of March 2023, Coinsbee supports exactly 174 cryptocurrencies, including, but not limited to the following:
Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Tether (USDT), USD Coin (USDC), Tron (TRX), Ripple (XRP), Dogecoin (DOGE), Binance Coin (BNB), Bitcoin Cash (BCH), Cardano (ADA), Solana (SOL), Monero (XMR), Nano (XNO), DAI, Stellar (XLM), Shiba Inu (SHIB), Toncoin (TON), Cosmos (ATOM), Algorand (ALGO), Polkadot (DOT), EOS, Tezos (XTZ), Zilliqa (ZIL), Polygon (MATIC), Harmony (ONE), Apecoin (APE), Uniswap (UNI), Hedera (HBAR), Ethereum Classic (ETC), Avalanche (AVAX), Holo (HOT), SushiSwap (SUSHI), Ocean (OCEAN), Decentraland (MANA), AAVE, The Graph (GRT), Baby Doge Coin (BABYDOGE), Yearn.finance (YFI), Quant (QNT), 1INCH, The Sandbox (SAND), and Huobi Token (HT).
Pretty impressive, huh? And if you still prefer keeping your funds on the exchange, you can purchase gift cards right from your Crypto.com or Binance apps, since Coinsbee supports both! Finally, if you decide that it's not time to part with your crypto bags yet, you can always opt to pay with good old fiat through Visa, Mastercard, Volt, or Pix.
How to buy gift cards from Coinsbee
First, you can create your account on Coinsbee, by clicking on “Sign up” on Coinsbee’s page. Enter some basic details, such as your name, password, address, and country of residence. Verify your email address by following the link sent to your email, and you’re all set up!
Note that although registration brings some advantages, such as order history and more relevant offers, you don’t even need it if your single order doesn’t exceed €1,000 (about $1,074 at the time of writing), or a maximum €10,000 in total. Above that limit, you would need to register and pass a KYC (Know Your Customer) check.
Now select the product or service you want. Don’t forget to make sure that the desired product or service is supported in your country.
After that, select the gift card amount you want, your country, and the cryptocurrency you want to use for payment. Currently, Coinsbee supports 174 cryptocurrencies.
Next, go to your shopping cart and proceed to checkout. Check the boxes to agree to Coinsbee's terms and conditions and click on "buy now." Enter the recipient email where you would like to send your gift card, and then Scan the QR code or send the amount to the address on the payment page.
The address number is always individual for each purchase. You will receive a gift card code after you complete the transaction within 20 minutes.
Congrats, that’s pretty much it! The voucher code will be sent to you via e-mail immediately after payment and is valid right away. For some products, Coinsbee sends you a link to the gift card code.
Is Coinsbee legit
Yes, Coinsbee is a legit and reliable platform where one can purchase gift cards and mobile refills with Bitcoin and other cryptos. ScamDetector gives Coinsbee an authoritative high rank of 80/100, which means that the website is legitimate and secure. Trustpilot reviews rank Coinsbee at 4.6 stars with 255 reviews.
As you can see, Coinsbee is the top destination for anyone looking for a convenient and flexible way to spend their crypto on real-life goods and services. Visit the Coinsbee website to learn more about their products and see the full list of partner brands and supported cryptocurrencies.