Saturday, August 20, 2022

What Is Bitrefill and Is It Safe to Use?

One of the biggest problems facing cryptocurrency is that it’s still difficult to use most cryptos to pay for the things we need in life. A few businesses and organizations have taken up the mantle and allow you to pay using Bitcoin or Ethereum, but typically, if you want to pay with crypto, you’re going to have a bad time.

That’s where crypto gift card services like Bitrefill step in. Instead of struggling to spend your crypto, you could swap it out for a gift card for the place or service and spend that instead.

So, what is Bitrefill, and how does it work?

What Is Bitrefill?

In short, Bitrefill is a site that allows “anyone to live on cryptocurrency more easily.” What that means is that instead of struggling to find places to accept cryptocurrency, you can swap your cryptocurrency for a gift card instead. Well, at least, that’s how Bitrefill started, like all other crypto gift card sites.

Today, you can use Bitrefill for so many different payments, and there are thousands of different options. Want to pay your credit card bill using crypto? Bitrefill has you covered. Want to top up your smartphone minutes and data using crypto? Bitrefill has you covered.

The number of services available to you heavily depends on your location. Countries like the USA and UK have the most services to choose from, as you might expect. However, that’s not to say crypto users from elsewhere around the world shouldn’t give it a look.

How Much Does Bitrefill Cost?

As you might expect, Bitrefill doesn’t provide this service for free. Bitrefill typically adds a service fee between two or three percent, which isn’t awful considering the range of services available to you.

You’ll also have to account for crypto network fees, which vary between networks, demand, and more. However, Bitrefill has also thought of that, and one way around those pesky network fees is to pay directly from a Coinbase account. Bitrefill and Coinbase have a partnership that allows you to pay for a gift card direct, cutting out the network fee.

What Cryptos Can You Use On Bitrefill?

There are several cryptocurrencies you can use on Bitrefill:

  • Bitcoin
  • Ethereum
  • Litecoin
  • Dash
  • Dogecoin
  • USDT
  • Tron

You can also integrate Binance Pay into your account, which adds another glut of cryptocurrency payment options to the list. Bitrefill’s open approach to paying any type of bill or for any service with any type of crypto is slowly expanding and offering crypto users many more options.

How to Buy a Gift Card on Bitrefill

Now, onto the good stuff: how do you actually go about buying a gift card on Bitrefill?

First up, you need to choose the service you want to spend your hard-earned crypto at. In this example, we’re using Amazon, as it’s a service most people will use at some point. Please note that there is a different procedure for paying bills with crypto in the US, but as I’m a UK citizen, it’s not something I can fully explore. Check out the Bitrefill US Bills tutorial for more information.

It’s a very simple process.

  1. Select the retailer or service you want to use.
  2. Enter the amount of money you want to spend. The box uses the dollar amount (in my case, sterling), and illustrates the crypto value alongside. You can change the type of crypto you’re using in the dropdown box.
  3. Now, select Add to cart > Checkout.
  4. If your Bitrefill wallet is empty, as mine is, you can use the External Payment option.
  5. On the next screen, you’ll see an invoice of sorts, with a Bitcoin address QR code option. You can use the dropdown menu above this to select the wallet you’re sending from.
  6. Either scan the QR code with your Bitcoin wallet or select the QR code to reveal the recipient Bitcoin address and amount to copy into your Bitcoin wallet.
  7. Once you send the transaction, Bitrefill should detect it almost instantaneously, though it can take up to 30 minutes to complete the transaction (good old Bitcoin, eh). That said, my transaction was complete within four minutes!

Once complete, the gift card will be sent to whatever email account is linked to your Bitrefill account. That’s all there is to it. Oh, and for each gift card purchase, you receive a small number of sats (the smallest bits of Bitcoin) in return.

How to Redeem Bitrefill Gift Codes

Redeeming a Bitrefill gift card is incredibly simple.

  1. Click the link you are sent, and it’ll take you to the Bitrefill site. Sign into your account if required.
  2. Select Redeem.
  3. Do it again if you have more cards to redeem.
  4. Now, select the retailer or service you want to use, then enter the amount of money you want to spend.
  5. Now, select Add to cart > Checkout.
  6. On the next screen, you can select your Bitrefill balance, which has been topped-up with the gift cards.
  7. Now, on the final screen, you can Confirm payment, and you’ll receive your gift card immediately.

Are you wondering why it is this way around? In this example, someone has been sent Bitrefill gift cards paid for using cryptocurrency, which the user can then spend in their local currency.

Is Bitrefill Safe?

Gift cards always raise an eyebrow. Rightly so, as they’re the tool of choice for scammers worldwide. However, despite the dodgy reputation of gift cards, Bitrefill itself is a perfectly legitimate business, as evidenced by the now more than 20,000 utility bills you can pay using the service in the US.

For added security, make sure you enable two-factor authentication on your Bitrefill account. Select your name and icon from the top menu, followed by Settings, then scroll down and follow the on-screen instructions.

Crypto Gift Cards Are Legit—But Be Careful!

We’re under no illusion that crypto gift cards aren’t a handy tool for scammers. But they also play a legitimate and important role in enabling crypto-users to spend crypto as they would in regular stores or elsewhere online. Sites like Bitrefill are useful for the sheer number of services they connect cryptocurrency users to.

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