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2 min read 19.03.2022 256
Ese Precious
Ese Precious
Fintech writer at AskWallet.io
How to Pay with Cryptocurrency on Amazon

How to Pay with Cryptocurrency on Amazon

Variety, as they say, is the spice of life. In search of a new way to buy and sell, Amazon, which started as an online bookstore in 1994, is now the world’s largest eCommerce website, selling millions of miscellaneous products. Similarly, our world is gradually moving from buying and selling goods with fiat money such as the U.S. Dollar and the Euro to using cryptocurrencies such as Bitcoin, Ethereum, and others. If you have some crypto and would like to exchange them for goods on Amazon, this article is a specially prepared guidebook for you.

Is Bitcoin Accepted on Amazon?

The short answer is no. Amazon does not accept cryptocurrency for direct payment. However, there are indirect ways you can pay for your purchases with Bitcoin or any other cryptocurrency on Amazon. Following our tips, you will learn how to use cryptocurrency on this service.

What Can I Use Crypto to Buy on Amazon?

There is no limit to what you can buy with Cryptocurrency on Amazon. The list of buyable items includes computers and accessories, dresses, books, smartwatches, pet supplies, toys, fitness needs, and numerous others. The main thing here is to know the workaround to spending crypto at an online store that does not directly accept it.

How Can I Pay with Crypto on Amazon?

You will need to use an indirect method to pay with your cryptocurrency on Amazon. The method could be a crypto-trading platform or any credible digital tool that accepts crypto. Your goal would be to convert the cryptocurrency to fiat money for direct payment on Amazon. An alternative method is to use your crypto to buy Amazon gift cards and pay on Amazon with the gift cards.

How to Convert Your Crypto to Fiat Money and Pay on Amazon

The following are three methods you can use to change your cryptocurrency to fiat money so that you can pay for Amazon products:

Crypto exchanges

Crypto exchanges are online markets for buying, selling, and trading in Bitcoin, Litecoin, Dogecoin, and other cryptocurrencies. They provide users with accounts and allow them to exchange fiat money for cryptocurrencies and send the digital currencies to their private cryptocurrency wallets. You can use traditional payment methods (bank transfers, credit/debit cards, and so on) to buy cryptocurrencies on crypto exchanges. All transactions on these platforms are completed by an automated engine. Examples of leading crypto exchanges include Binance, Kraken or Coinbase. However, in terms of trading volume, Binance is the largest of them today.

P2P exchanges

Peer-to-peer (P2P) currency exchange platforms are another way to change your crypto to fiat money so that you can pay on Amazon. This option bypasses automated engines and makes your crypto trading and conversion manual, thus allowing you to choose who you would like to exchange your crypto with, decide on a mutually convenient fee, payment method, and other decisions relating to the transaction. 

Since most P2P services are essentially working as bulletin boards where you can negotiate an exchange of cryptocurrency for something else, buyers on these sites often offer to exchange cryptocurrency for Amazon gift cards. However, it is also quite easy to become a victim of scammers on such resources, so it is much easier to withdraw money into fiat currency and buy the desired goods with it 

Due to its low fees and high privacy, the most popular P2P kind trading platforms change Bitcoin to cash. There are many P2P exchanges, but Binance P2P has the highest level of security.

Cryptocurrency wallets

Digital wallets that support crypto and fiat currencies are also ideal for shopping online. While there are many apps for trading cryptocurrencies, not all of them can let you pay for goods on Amazon. This is because some of them do not support crypto-to-fiat conversion. 

What Cryptocurrency Wallets Can I Use to Make Payments on Amazon?

Basically, you need to register an account with a cryptocurrency wallet that can allow you to change crypto to fiat money and withdraw the money to its card so that you can use it to pay with fiat money on Amazon. Therefore, we recommend using any of the following top cryptocurrency wallets:

Binance

 

This is the official wallet of the Binance cryptocurrency exchange. It supports a wide range of crypto-to-crypto as well as crypto-to-fiat currency conversions. When you create an account with Binance, you are required to pass the identity verification process before you can start buying, selling, and converting crypto on it. In February 2022, Binance launched its new feature called “Sell-to-Card.”  Through this feature, users can now directly convert their crypto to fiat currency and instantly transfer the fiat money to their Visa debit or Visa credit cards by following four easy steps. The first step is to log in to the app and choose a credit/debit card. Secondly, you must choose the crypto to sell and tap “Sell” after entering the amount. Thirdly, you must select your payment method, which is the Visa credit or debit card (only Visa cards are supported now). Lastly, you are to confirm your order to complete the transaction.  But not so many fiat currencies are supported by Binance now. The only supported traditional currencies for crypto-to-fiat conversion are EUR, GBP, UAH, DKK, CZK, AUD, NZD, BGN, HRK, and PLN. Nevertheless, when you have changed your crypto for any of these fiat currencies, you can easily make your direct payment on Amazon using your Visa card.
 

BitPay

When you think of one of the world’s powerful tools for cryptocurrency acceptance and payments, think BitPay. It offers its users an app and a debit card that can be funded using cryptocurrencies such as Bitcoin, USD Coin, Ethereum, and others. This digital wallet was created in 2011 to allow people to make fast, secure, and less expensive payments with crypto globally. Enthusiasts of Bitcoin and other cryptocurrencies can pay for their purchases on Amazon using this tool, and there are two options available to them: the BitPay card or Amazon gift cards. They can use the BitPay Mastercard card to pay directly for items on Amazon - the card will convert the crypto to dollars and pay instantly. An alternative is to use the BitPay app or BitPay browser extension to buy Amazon gift cards which they can now use to pay for the item(s) selected. 
 

Crypto.com

Crypto.com was created in 2016 with a mission to help speed up the transition of the world from fiat money to cryptocurrency. With this digital wallet, you can get a Visa debit card and cashback rewards of up to 8% for using the card to make payments with cryptocurrencies on Amazon. It supports up to 1,300 cryptocurrencies which can be used to fund your debit card. The card can be used like normal debit cards when paying for goods on Amazon. It is possible to earn between 2.5%-10% rewards on every purchase you make on Amazon using this app if you can maintain a minimum crypto balance worth US$1,100.
 

Unbanked (BlockCard)

Unbanked, which is also known as BlockCard, is another digital wallet that you can use for payments on Amazon. Every user of Unbanked can get a Visa plastic/virtual debit card which can be funded using cryptocurrency. The plastic card costs US$10 while the virtual card does not require any fee to obtain it. Unbanked supports Bitcoin, Ethereum, Tether, Litecoin, and other cryptocurrencies. Besides, it offers free crypto-to-fiat currency conversion. So, fund your debit card with any cryptocurrency and use it to make payments on Amazon. 
 

Cash App

Cash App only supports one cryptocurrency – Bitcoin. Therefore, this wallet is not ideal for anyone who wants to use some other cryptocurrency on Amazon. As common with most digital wallets, Cash App has a debit card. You can use the debit card to buy anything you want on Amazon. In case you do not have the plastic card with you while about to pay for your purchase(s), you can use the overflow menu in the app to find the information of your card – its number, date of expiration, and CVV number.

Conclusion

For reasons best known to Amazon, it does not allow its customers to pay with cryptocurrency. However, the good news is that there are alternative ways for you to spend your Bitcoin, Tether, Ethereum and other cryptocurrencies shopping on Amazon. Therefore, instead of limiting yourself to the use of only fiat money on this online shop, try to use any of the tools we have put forward to you in this article.  We hope that you will find them invaluable while everyone is waiting to see whether Amazon will soon provide a direct payment method for its share of customers who are crypto users.