Coinbase launches crypto gift card | Bitcointalksearch.org

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legendary

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Quote from: LeGaulois on July 25, 2018, 10:32:45 AM

The company integrated WeGift so users are able to buy gift cards using their coinbase wallet. It's instant and no fee, you can use Bitcoin, Ethereum, Litecoin, and Btrash. The sad news is, it's currently only available in the U.K., France, Spain, the Netherlands, and Italy.
(you need to log in your account to see the full list of retailers

https://wegift.io/coinbase/

I'm okay with it using as an alternative as long as I can buy PSN network gift cards for my country. Right now, the only way I can buy a PSN subscription is through Amazon US. However, I would avoid coinbase at all costs if there is a better service just specializing in gift cards.

Quote from: timerland on July 27, 2018, 06:46:31 PM

This is a good initiative in my opinion. It's got decent discounts on gift card purchases while still retaining the trust and legitimacy of buying gift cards from a trusted source instead of from a random person, which is probably going to be fraudulent.

Look at the bigger picture, you are forced to create a bitcoin address there and they control your private keys. Just like a Bank giving you a free credit card with massive discounts on a number of products. You are hooked to the product.

Quote from: timerland on July 27, 2018, 06:46:31 PM

Exactly this. I don't really see this attracting any new customers to coinbase per se, but it'll just be a convenient and trusted way of obtaining gift cards using BTC, something of a grey area if you deal with someone p2p.

You would prefer a service that just sells giftcards for bitcoins over coinbase right? Of course the cards will be legally obtained.

timerland

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This is a good initiative in my opinion. It's got decent discounts on gift card purchases while still retaining the trust and legitimacy of buying gift cards from a trusted source instead of from a random person, which is probably going to be fraudulent.

I definitely think that this is available currently in way less countries than it should be accessible in, considering that only 5 countries in Europe essentially have access to this.

Quote from: LeGaulois on July 25, 2018, 01:48:21 PM

Most users who will use this service will be users who already know-own-use Bitcoin and are just looking to convert their coins to gift cards. You won't see a newbie buying bitcoins and then to go on Coinbase to buy their gift card. They would buy their card directly in fiat.

Exactly this. I don't really see this attracting any new customers to coinbase per se, but it'll just be a convenient and trusted way of obtaining gift cards using BTC, something of a grey area if you deal with someone p2p.

LeGaulois

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Ok, so I managed to log in my Coinbase account. Basically, you link your coinbase wallet to the site. You can buy up to $5000 daily but you can change this setting. I wanted to know what retailers gift cards can be purchased and here it is https://prnt.sc/kbtum9 You can have more or less depending on the country you are located in. In my case, there are only 5

hugeblack

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I think it's a good step especially for those looking to use Bitcoin as a currency.
Many people scammed with stolen cards or a fake one. It was one of the most famous ways to buy bitcoin entirely anonymously.
Finding new ways to spend a bitcoin in purchasing daily needs is always good.
about centralized, I agree with you but accepting Bitcoin "legally" means imposing ways to check the identity of users

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Quote from: OmegaStarScream on July 25, 2018, 12:37:45 PM

In my opinion, this is not good for bitcoin. At least, not for the long term.

If people get used to gift each other bitcoins using Coinbase, the 'get control over your private keys' will start to fade. I know they are a business and they are trying to make money but from the way I see it, Coinbase is trying to centralize bitcoin and turn it into a banking system.

Yea, I agree. It's good news for trying to get people who are unfamiliar with Bitcoin into the ecosystem. However, long term, it will just result in more of a mess.

LeGaulois

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I know Coinbase is trying hard to be like a bank, I wouldn't be surprised if in 3-4 years Coinbase becomes a pure neobank (similar to Revolut) with a banking licence or something around. I do not agree with centralized stuffs too, but if there is something we can be thankful is how they helped to make bitcoin wallets more user-friendly and easier to use. Coinbase has a huge userbase now and I think most new Bitcoin users start with a wallet from Coinbase.

Most users who will use this service will be users who already know-own-use Bitcoin and are just looking to convert their coins to gift cards. You won't see a newbie buying bitcoins and then to go on Coinbase to buy their gift card. They would buy their card directly in fiat.

@socks435
You need to be logged in Coinbase.

socks435

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That's good news only for selected countries and the good thing is no fees when sending with a free additional bonus.
Could you try to click the see all eGivecards because when I clicking it I'm redirecting to checkout page without the list of other gift cards.
Here's the link where I'm redirecting to https://coinbase.wegift.io/cashout/checkout

OmegaStarScream

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In my opinion, this is not good for bitcoin. At least, not for the long term.

If people get used to gift each other bitcoins using Coinbase, the 'get control over your private keys' will start to fade. I know they are a business and they are trying to make money but from the way I see it, Coinbase is trying to centralize bitcoin and turn it into a banking system.

LeGaulois

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The company integrated WeGift so users are able to buy gift cards using their coinbase wallet. It's instant and no fee, you can use Bitcoin, Ethereum, Litecoin, and Btrash. The sad news is, it's currently only available in the U.K., France, Spain, the Netherlands, and Italy.
(you need to log in your account to see the full list of retailers

https://wegift.io/coinbase/

Topic: Coinbase launches crypto gift card (Read 208 times)