Do you have bitcoins and don’t know how to spend it on one of the large format stores or an e commerce site that does not accept bitcoin. There is a solution for that and it’s called gift cards. There are many services that allows users to buy and sell discounted gift cards for bitcoin. Some of them include Gyft and Fold. Now there is another service by the name CardCash added to the list.
CardCash is an American online discounted gift card site which has been around for a while, but they are now back in the news for introducing bitcoin payments on their platform. According to the CEO of CardCash Elliot Bohm, the company decided to introduce bitcoin payment option after they realized that many large format stores spread across the United States still do not provide an option to purchase using bitcoin while there are few which already does. The service is meant to bridge the gap and enable people to spend bitcoin and save money at the same time.
The CardCash application with bitcoin integration will be out next month, enabling users to buy gift cards with bitcoin using the application. The CardCash mobile application helps users buy gift cards on-the -go using bitcoin instantly. For example, one can just walk into Macy’s or Walmart, do shopping and while waiting at the billing counter, order a gift card and pay for the purchase using the barcode generated at the check-out. It will also cave anywhere between 5%-20% for the customer as CardCash users are entitled to discounts.
CardCash has also got mechanisms in place to prevent money laundering and fraud. The stringent AML and fraud prevention measures implemented on the platform. Each card is verified, with 45 day balance guarantee, Sellers on the platform are authenticated, and there is also a maximum purchase limit of $10000 in place to prevent misuse and keep a check on money laundering.
The CardCash service is available only in the United States for the moment.