Creating the Bitcoin killer app is not an easy task, but that isn’t preventing startups and companies from trying a few different approaches to see what sticks. Coinimal has announced a new service that lets users spend Bitcoin directly on the German Amazon website, with no fees or verification required. This creates another use case for European Bitcoin users, as there are a lot of people shopping on Amazon.de.
Also read: Politicians & Banks Helped Bitcoin Beat All Sovereign Currencies in 2015
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Spend Bitcoin on German Amazon Through Coinimal
The connection between Amazon and Bitcoin keeps getting stronger, even though the retail giant has no plans whatsoever of enabling digital currency payments anytime soon. Until that happens, services such as Purse.io and Coinimal are working hard to let users spend Bitcoin on their respective Amazon sites while still complying with the retailer’s Terms of Service.
Coinimal has launched a new service that will allow users to sell Bitcoin in exchange for German Amazon vouchers. For example, if someone wants to sell 100 EUR worth of Bitcoin, they will receive an Amazon.de voucher for that same value. No fees will be charged during this process of converting Bitcoin to an Amazon.de gift card.
Unlike how Purse.io operates, the Coinimal team will deliver the Amazon gift card themselves. Purse.io users can list an item they want to buy on Amazon and offer a certain amount of Bitcoin at a premium price, which then has to be bought by a different user. This process can take anywhere from a few days up to a few hours, which can be frustrating sometimes.
Coinimal has deliberately chosen a different approach to making Bitcoin spendable on Amazon.de, even though this occurs in an indirect fashion. Once a user sells their bitcoins to Coinmal, it will take anywhere from one to three blockchain confirmations to complete the transaction. Customers will then receive their German Amazon gift card via email, and there is no further verification required.
By using vouchers instead of relying on other Amazon users, Coinimal offers a direct Bitcoin-to-fiat conversion service. Whenever someone purchases one of these German Amazon gift cards through Coinimal, they can top up their Amazon account with the gift card balance immediately after receiving the code. As a result, anything people sell on Amazon.de can be bought with Bitcoin, without additional fees.
Direct Partnership With Amazon.de
None of this would be possible without a direct partnership between Amazon.de and Coinimal. To some people, it might come as a surprise to hear the German Amazon platform was open to such a partnership, but the company is always looking for ways to expand their customer base. Furthermore, this ensures all of the gift card codes are 100% legitimate, which will put customers’ minds at ease.
Coinimal Co-CEO Paul Klanschek stated:
‘Facilitating purchases and building bridges with established online businesses is a crucial part of growing the bitcoin economy, and we are proud that once again our record of integrity and strong reputation for compliance has enabled this partnership with Amazon.de – giving our customers the chance to spend their bitcoins on just about anything they want, from one of the largest and most reliable e-commerce platforms in the world!’
As one might come to expect, this service offered by Coinimal is subject to certain limits. A minimum purchase of 25 EUR is required to buy a German Amazon gift card, and the maximum limit is set at 5,000 EUR per day. Regardless of how much money a user exchanges from Bitcoin to gift cards, there will not be any verification requirements.
What do you think about Coinimal’s new partnership with Amazon.de? Let us know in the comments below!
Source: Coinimal Blog
Images courtesy of Coinimal, Amazon Germany, Shutterstock
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