UPDATE: This method is no longer working since Coinbase changed their referral model.
A lot of people say that Bitcoin isn’t being used as an actual currency since you can’t buy anything with it. The problem is that Bitcoin hasn’t been widely adopted by merchants yet and there are only a few hundred websites around the web that accept it as a form of payment.
Link to Coinbase for getting your $5 free
Link to eGifter for buying gift cards with Bitcoin
Link to Coin.MX
Link to Xapo for getting a Bitcoin debit card
However the good news is that you can actually buy anything with Bitcoin, you just need to know how. Today I’m going to show you exactly how to do this and in the process we will be getting a $5 item from Amazon or Ebay for free.
First thing you’ll need to do is sign up for Coinbase using the link below this video. Now I want to disclose that this link is my own referral link, but here’s the cool thing about it:
If you sign up through this link you get $5 in Bitcoin for free.
After you sign up remember to verify your account by adding your phone number and connecting your bank account. Keep in mind that this whole process is free of charge and Coinbase is a very respected company in the Bitcoin space.
Once you’ve completed these short steps you’ll see the $5 appear in your account. But how the heck can you use these $5 ?
Well, there’s a site called eGifter which will sell you gift cards for all sorts of stores online. For example you can get a $5 card for Amazon, Ebay or even Best Buy. Just go to eGifter.com, create an account, and just choose your gift card.
Enter $5 as the gift card amount and choose “buy for myself”. On the checkout page choose Bitcoin as your payment method. You’ll now get a Bitcoin address to send your coins to. Go back to Coinbase and just send your complimentary $5 to that address.
Congratulations, you just got a $5 gift card to buy anything you want on Amazon, Ebay or any other store absolutely for free.
A few important things before we conclude. This process is only applicable to US residents with a bank account who do not already have a Coinbase account. Having said that, if you’re living outside the US you can do the same thing with Coin.MX. The link to Coin.MX is also in the bottom of this video. Keep in mind that Coin.MX require a $50 deposit so I only suggest you do this if you’re going to actually buy Bitcoins from them.
Also, if you don’t see the $5 in your Coinbase account make sure that you verified your account, that you entered US as your country and that you actually used the referral link shown in this video.
To sum things up you can buy anything with Bitcoin, it’s only a matter of finding the right workaround. Last week I actually got myself a Bitcoin debit card which allows me to pay at any shop with my Bitcoin balance, if you want to know more about that visit the link to Xapo.
is it essential to link banks to have free $5??
Yes, but I think Coinbase changed their terms and I’m not sure if they are giving these $5 any longer.
Yep. They are giving 10bits of satoshi each new user.and $25 ref commision if ref buy btc.
Well at least if you refer someone you get a lot more now
no point on getting the gift card since you can withdraw the Bitcoin to USD and pay for anything as you would normally do.
Also, Circle is much better because it doesn’t charge you a fee.
Hey JP, I don’t think Circle gives you $5 like Coinbase does.
Love how you send everybody not in the US to coin.mx and before you can sign up to the site you have to OK terms declaring you love the US and it’s better than anywhere else LOL
I guess there’s some irony in that 🙂