Ethereum is one of the most vastly used cryptocurrencies in the world. As the second-largest crypto by market cap, Ethereum is used by a large number of cryptocurrency enthusiasts to pay for goods and services online.
Although Ethereum is accepted by several online merchants such as Overstock, and TapJets, the cryptocurrency hasn’t had success with the giant e-commerce companies like Amazon and Alibaba. Amazon is arguably the largest e-commerce platform in the world and accounts for billions of dollars’ worth of transactions annually. However, it is yet to directly accept Bitcoin, Ethereum, or other cryptocurrencies as payment options. This is despite the company’s entry into the blockchain space.
Despite Amazon’s refusal to accept Ethereum directly, cryptocurrency users can still pay for goods on Amazon using Ethereum. There are two primary methods you can pay for products on Amazon using Ethereum, and we will discuss them in this post.
Using Ethereum to buy Amazon gift cards
Perhaps the most popular way to pay for goods on Amazon using Ethereum is to use the cryptocurrency to purchase Amazon gift cards. A wide range of sellers on Amazon accept the gift cards as payment as they can redeem the gift cards in exchange for cash. Thus, you can purchase the Amazon gift cards using Ethereum and pay for products on Amazon using those gift cards.
Several platforms are not allowing cryptocurrency users to purchase the Amazon gift cards using Bitcoin, Ethereum, and other cryptos. Some of these platforms include eGifter, Bitrefill, Paxful, Bidali, and a host of others.
These platforms sell Amazon gift cards to cryptocurrency and accept Ethereum, Bitcoin, and others as payment. After buying the gift card, head over to Amazon, and search for the product you wish to purchase. You can choose the gift card as a payment option is the seller accepts them.
Using an app browser extension
Paying for goods on Amazon would be easy thanks to a new technology called Plasma Cash. The Plasma Cash is technology for Ethereum that works similar to Bitcoin’s lightning network. At the moment, crypto payments firm CLIC Technology is working alongside blockchain infrastructure provider and B2B platform Opporty to build an app-like browser extension that would make it possible for cryptocurrency users to pay for Amazon products using Ether. Although this method is yet to be finalized, it is an exciting way of paying for products on the e-commerce platform.
The browser extension will be released, and it will make it easier for people to pay for goods on Amazon and a host of other e-commerce platforms.
Amazon has ventured into the blockchain space but is yet to accept cryptocurrencies as a means of payment. However, people can still use Ethereum to pay for goods on the e-commerce platform by purchasing gift cards and using the gift cards to pay for items on Amazon. A browser extension is also being developed that would permit users to pay with Ethereum on Amazon.