Did you recently buy Bitcoin and want to make gaming payments using it?
As you may be aware, cashing out and using crypto for regular purchases is still a bit difficult. You might not be able to pay for your groceries using Bitcoins or any other crypto, even though cryptocurrencies have earned worldwide acceptance. Likewise, it would be virtually impossible to buy your favorite video game using Bitcoins and other cryptos. That’s because most retail and online gaming stores do not recognize crypto as a payment option for purchases.
However, there is a clever and safe workaround for this minor setback. The trick is to buy gift cards with cryptocurrencies. You can trade crypto for gaming gift cards the same way people use gift cards to buy cryptocurrencies. Buying gift cards enable you to make payments for games using Bitcoin. But, what are gaming gift cards?
About Gaming Gift Cards
A gaming gift card works the same way as a regular gift card – only that it is specific for gaming. You can use a gaming gift card to buy a wide range of downloadable games, renew gaming subscriptions and purchase game add-ons and avatar gears, among more. These gift cards are only redeemable through their respective systems. For instance, you can use play station gift cards to make payments for PlayStation games only.
Therefore, you must know which system you intend to use before you purchase a gaming gift card. Some of the most common gaming gift cards in the market include PlayStore, Nintendo eShop and Xbox gaming gift cards.
You can redeem gaming gift cards online or in person at the retailer’s store. That often depends on the gaming store’s policy. However, the majority of gaming stores hand out their gift cards online. Therefore, you can only redeem them through the store’s website.
Online gaming gift cards are based on a numeric code system, referred to as a redeemable Pin Code. To redeem your gift card, you will enter the Pin Code on the gaming store’s website.
Why Now is the Best Time to Buy Gaming Gift Cards using Bitcoin
As we already know, it can be a little challenging to spend crypto directly on most gaming platforms. However, buying gift cards offers you a safe and reliable workaround. But why is it a good idea to purchase gaming gift cards using Bitcoins?
Acceptance
The majority of offline and online gaming stores do not accept Bitcoins as a payment method. However, with gaming gift cards, you can still pay for your favorite games using crypto. Therefore, the greatest flex about buying gaming gift cards using crypto is the ability to make payments using Bitcoins, even if your gaming store doesn’t accept cryptocurrencies.
Worldwide Use
As we already know, cryptocurrencies are international – meaning they have no geographical border. As such, you can use it to trade anywhere in the world. That is a massive boost for a gamer as you can easily purchase gaming gift cards from any store across the globe. Furthermore, trading using Bitcoins would cost you less in terms of transaction costs.
You can lose lots of money in transaction fees if you purchase gaming gift cards internationally using fiat currency. That’s why Bitcoins might be the best way to make the payment.
This has raised concerns in the industry about inflation in the should i buy ethereum at Uphold ecosystem from inception. Advocates point out that the rate of supply of Ether will decline over time.
Maintain the Value of Bitcoins
Bitcoins are pretty volatile, with the value rising and dropping multiple times a day. If you are worried about losing your crypto coins to fluctuations, you may want to purchase a gaming gift card. The majority of gaming gift cards have a long ‘shelf-life’ – ranging from a day to years. These gaming gift cards can ensure you maintain the value of your Bitcoins as 50USD of PlayStore today will be worth 50USD of PlayStore tomorrow.
The beauty is you can always use the gaming gift cards to buy cryptocurrencies if you change your mind about using them in the future.
