Buy Gift Cards with Bitcoin (Quickly & Easily)

Coinbase has just announced a partnership with WeGift. This’ll allow you to instantly convert your cryptocurrency into gift cards for popular retailers (e.g., Nike, Tesco, Argos, + many more). It’s a quick and easy way to buy gift cards with bitcoin in the UK.
I think this is awesome… but is it really worth using?
Check out this quick post to find out.


Thursday January 01, 1970

Who are WeGift?
WeGift (a London-based FinTech startup) are “continually busy” putting together tools which “make buying and selling gift cards simple and seamless at scale”. They’re backed by Ascension Ventures, Fuel Ventures, and GuanQun Investment – in addition to some individual investors (see below).
You can find out more here.


Thursday January 01, 1970

Buy Gift Cards with Bitcoin


Thursday January 01, 1970

Following Coinbase’s announcement, you can now easily and quickly buy gift cards with your cryptocurrency balance on Coinbase.
Some key points:

You can spend any cryptocurrency supported by Coinbase.

This currently includes Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).

Select from 36 different e-gift cards.

Includes popular brands: Nike, New Look, Google Play, & many more.

Receive extra bonuses!

Ranges from 2% to 10%.
Average is about 5%.

You won’t pay any fees.

You’d normally pay 1.49% when selling cryptocurrency on Coinbase.
BTC to GBP exchange rate is very close to the BPI (+0.5%).

Cost of withdrawing via bank transfer (on Coinbase) versus buying a gift card (on WeGift).
While you can only select from 36 different gift cards, Coinbase is looking to expand the selection in the next 3 months.
Want to see WeGift’s full list of supported gift cards in the UK? Click here.
Availability
This only supports 6 countries (at the moment).
Coinbase’s integration with WeGift is currently only available in:

UK
Spain
France
Italy
Netherlands
Australia

Coinbase is looking to support more countries in the near future.
We’ll update this list and let you know when they begin supporting other countries.
Getting Started
Setting Up
Before you can get started, you’ll need to have a Coinbase account. Sign up here!
Signed up already?
1) Go to wegift.io/coinbase.

2) Click ‘Get Started’.
3) Authorise WeGift to access your Coinbase account.

I’d recommend lowering the ‘Debit money from your account’ amount (default is 5000 USD).
At the bottom, you can change the cryptocurrency wallet used.
Don’t worry! You can always modify these settings in the future.

 
4) Boom! You’re ready to go!
Buy Gift Cards with Bitcoin
1) Select from the supported e-gift cards under ‘Cashout Options’.

The min/max value you can buy varies.

2) Confirm your details:

Check you’re using the correct wallet.
Enter email you want the gift card delivered to (defaults to your registered email).
Confirm the country you want to spend in is correct.
Enter the cashout amount (in GBP or crypto).

6) Happy? Select ‘Buy E-Gift’.

You’ll need to verify the purchase through 2FA.

7) Done!

You’ll receive an email with redemption instructions.
You can also click ‘Get Your E-Gift’ (at the bottom of the confirmation page) to access this gift card.

WeGift Alternatives

An obvious alternative to this is GiftOff.
With GiftOff, you can:

Easily buy gift cards with Bitcoin (BTC).

They claim to “use competitive exchange rates”.

Receive 2% cashback (in Gift Off Points) when you buy selected gift cards.
Select from over 95 gift cards.

Popular options: Tesco, Argos, Google Play, & Primark.

The selection on GiftOff is obviously better, but it’s nowhere near as convenient.
With Coinbase’s WeGift integration, they’ve made it simple and easy to spend your cryptocurrency on real things that you want/need. The whole experience with WeGift is smoother than on GiftOff.

Want to try out GiftOff anyway?
Signup through this link and you’ll receive 100 FREE Gift Off Points.
Summary: Buy Gift Cards with Crypto
This Reddit user nails it on the head…
Full thread here.
Coinbase’s integration with WeGift allows you to easily and instantly buy gift cards with crypto (bitcoin, ether, litecoin, and bitcoin cash) in the UK.
I think WeGift is great.
Here’s why:

You’re buying gifts cards with your Coinbase wallet, so you don’t need to make an on-chain transaction.

Translated? You can immediately access and use any gift card you buy. It’s all automated.

You can buy gifts cards with any cryptocurrency supported by Coinbase.
They’ll throw in a bonus between 2% and 10%.

While WeGift’s selection of gift cards is limited at the moment (just 36), Coinbase will be “expanding the number of retailers and markets over the next three months”.
With bitcoin and crypto acceptance among major brands almost non-existent, Coinbase’s partnership with WeGift is likely to be welcomed by the community.
It’s not an ideal situation. We’d prefer to buy everything directly with cryptocurrency. However, it’s a decent temporary workaround which allows Coinbase users to easily cashout their cryptocurrency (without getting ripped off).
What Do You Think?
What do you think about this?
Let us know via social media – Twitter, Facebook, or Google+!

WeGift Supported UK Gift Cards

Supported Gift Cards (UK)Bonus %

All Bar One6

Argos3

Blackwells4

Bloom & Wild8

Bonmarche7

B&Q5

Caffe Nero5

Cineworld6

Clarks5

Costa5

Currys PC World4

Debenhams6

Ernest Jones4

Evans Cycles5

Global Hotel Card GB6

Great British Pub Card7

Halfords6

House of Fraser7

H. Samuel4

John Lewis3

L.K. Bennett7

Marks and Spencer3

Mitchells & Butlers7

Mococo Jewellery10

Mothercare GB6

New Look GB6

Nike6

Pizza Express7

Ted Baker8

Tesco2

The Entertainer7

Thomas Cook3

Ticketmaster GB3

Uber2

Uber Eats2

Zalando GB5

 
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