Want to go shopping with your Bitcoin gains this holiday season, but not sure how?
Our BitRefill review will go over all the things you need to know when it comes to using your Bitcoin to buy at your favorite stores.
Background and Company Information
Table of Contents
- Background and Company Information
- What is BitRefill?
- How Does it Work?
- BitRefill Features
- Gift Card Purchase From Over 500+ websites
- Phone Refill Program
- Multiple Cryptocurrencies To Use
- BitRefill Cost & Fees
- Lightning Network Costs
- Fold App
- Pros and Cons
- The Real Review: BitRefill Review
BitRefill was founded in Stockholm, Sweden in 2014 by Patric Stiller and Sergej Kotliar.
The founders built BitRefill to be a crypto-only platform. They would offer gift cards, pre-paid mobile cards, and other services by purchase with cryptocurrencies.
This sort of business model was revolutionary at the time due to its mass scale in helping customers all across the world.
All you need to do is have a bit of Bitcoin or other supported cryptocurrencies to make a purchase. No KYC needed – 100% fraud-proof method of living on crypto.
In fact, their slogan is to inspire their customers to “Live on Crypto“. With BitRefill, living on crypto is possible and enjoyable.
What is BitRefill?
BitRefill allows their customers to buy gift cards with cryptocurrency. That’s it!
You are able to do all of this on their online website without even needing to sign up for an account.
This concept has stemmed from the fact that currently, you are not able to buy and spend cryptocurrency all throughout the web…yet.
This will change in the future with big players like Square, Wirex, Paypal. But, services like BitRefill will always be around whenever you are looking to buy things.
- Privacy is the #1 priority
- Large catalog of gift cards and prepaid phone cards
- Beginner Friendly
- Only cryptocurrencies, no use of fiat available
How Does it Work?
BitRefill’s catalog provides 100s of different options in gift cards to choose from. You simply select the gift card for the store you want and make an order of the gift card options available.
Since this is supported by cryptocurrency, it is not necessary to sign up and create an account with BitRefill. But there are many benefits to doing so.
You do get a benefit from creating an account by having a central point to access all the gift cards you collect. BitRefill also provides a Balance Card.
With the Balance Card, you can put money on it whenever you need to transact, you won’t need to wait. The money will be accessible fast.
This will make it incredibly easy to buy gift cards on the go without needing to connect your wallet and send over the coins every time.
Gift Card Purchase From Over 500+ websites
BitRefill has an extensive list of gift cards and services that range from eCommerce to Travel and Entertainment. With all of these options, you will be able to find a use-case for getting a gift card through their platform.
If you are planning on taking a trip, you can purchase gift cards that are from airlines like Delta and Southwest. You can also get a gift card for Uber for traveling and an Airbnb gift card for your stay.
If you are a foodie, you can get a gift card for your favorite steakhouse in town or get a Grubhub gift card and get food delivered.
If you love gaming, you can purchase a gift card for the Playstation Store or Xbox and Nintendo with multiple options to choose from.
They truly have all the options that you are looking for when it comes to gift cards.
Phone Refill Program
Another great benefit of the BitRefill is that you can pay your phone bill through their platform with cryptocurrencies.
You simply need to find your phone carrier amongst the list of hundreds of providers they have available and choose the plan that you have.
You are instantly able to benefit from this method and make payments on your phone with your coins.
Make sure to confirm the correct pricing for this payment method as certain carriers can charge extra for this sort of payment.
Multiple Cryptocurrencies To Use
You can very well use multiple coins to purchase a gift card or service off of BitRefill’s website. The coins that you can use have their own conversion and this will save you time and effort from having to convert coins that you have into only one option.
The list of coins that BitRefill currently takes is the following:
BitRefill Cost & Fees
The costs of buying gift cards are linked with each order. They earn from receiving a margin off of the gift card that you buy from them.
BitRefill doesn’t provide any direct explanations of how their fees are distributed. But we tend to see anywhere from 2-4% in fees for every purchase.
The product you decide to buy could raise the fee amount too, such as buying from a cell provider with higher costs for prepaying.
Lightning Network Costs
Of course, making transactions on the Lightning Network will incur some additional costs as well. Especially if you are buying gift cards with a lot of trading volume at that particular hour.
Some consideration should be made as to if you should transact in Bitcoins or using an altcoin with lower network fees to buy your gift cards.
This alone can save you a lot of money, especially if you plan on using BitRefill quite a bit.
This is a serious contender when comparing to BitRefill. The best thing that Purse.io provides as an incentive to using their platform is a 15% discount on using Bitcoin to purchase Amazon products.
You can even earn higher discounts after your first order through them. If you solely use Amazon to purchase things online and have some Bitcoin to spare, then Purse.io would be a great option.
The business model of eGifter is very similar to BitRefill. You will find that you can buy gift cards through their platform and make those purchases with Bitcoin.
eGifter has an immense catalog of gift cards available. The best thing with eGifter is if you’re a business owner and would like to purchase gift cards for company use. They offer a corporate program for buying through them.
Another alternative for BitRefill would be Fold. The same concept as eGifter and BitRefill with purchasing gift cards through their platform.
The difference with Fold App is that there are tons of rewards that you can earn through their platform. Those rewards make it extremely enticing to buy off their platform if you are buying daily.
Read our in-depth review on the Fold App here.
Pros and Cons
- Privacy is first and foremost
- Tons of variety when it comes to gift cards, services, and prepaid phone
- Very easy to use for a beginner
- Only cryptocurrencies, no use of fiat available
The Real Review: BitRefill Review
BitRefill is a legit player in this space. They do exactly what they say they will do and you will find the platform extremely easy to use. And their privacy-first approach makes it a great platform to use.
If you are trying to use BitRefill for your entirety of daily purchases, this would definitely be possible on their platform.
Other competitors like Purse.io and Fold App provide awesome savings opportunities and rewards. But BitRefill makes up for it in usability, speed, and anonymity.
Interested in checking out BitRefill, check out their website below!