BitRefill is a crypto-based company that allows users to buy various items using their crypto. To do this, the company lets users purchase gift cards, which they can use to acquire the items they desire. The service fees range from 2% to 3%.
The History Of BitRefill
If you are looking for how to sell Ethereum for a gift card, this is one of the best firms to help you do that. Three entrepreneurs in Stockholm, Sweden founded BitRefill in 2014. In 2019, they expanded the services offered by the exchange after they received funding worth $2 million from investors.
One of the most notable investors in the project was Charlie Lee, the creator of Litecoin. According to Lee, he decided to invest in the project since he believes in its mission of making access to crypto much easier. The goal of this platform is to make it possible for users to buy whatever they want using crypto. Currently, this is possible using mobile phone top-ups, gift cards, and a lightning network mode.
Services Offered By BitRefill
This video details how to use BitRefill!
BitRefill can be accessed via its official website or an app. The company currently offers three main services. These are:
Gift Card
Once you visit the BitRefill site, you are given the option to buy a gift card using crypto. For instance, you can purchase an Amazon voucher. The entire process is quite easy to get through. Buying a gift card takes place in just three easy steps. First, you pick the amount you wish to spend, and then you add an email address where the voucher will be sent.
Learn more: How to Use Shapeshift Like a Boss
You will then pick the cryptocurrency you wish to use as your payment option. Finally, you just scan the QR code and the payment is sent to BitRefill. In about two minutes, you will receive your gift voucher. If you have been wondering how to sell Litecoin holdings to buy Christmas gifts, this is the way to do it.
Phone Refills
The steps to make the refill are similar to that you use for the gift card. Once you make the payment, a refill code will be sent to your email address.
Lightning Network
On BitRefill, there is also the innovative Thor Lightning Network channel. This unique function is not found on many other platforms. With this channel, users are able to send and receive BTC between each other almost instantaneously.
Accepted Currencies
If you are looking for where to sell Ethereum for fiat, this platform is not much use to you. On this platform, you will only be able to use your crypto to purchase gift cards and phone refills. The platform currently accepts the following cryptocurrencies:
- Dogecoin
- Ethereum
- Bitcoin
- Litecoin
- DASH
The platform currently offers users over 1500 vouchers from some of the biggest firms in the world such as Apple, Amazon, Steam, Google Play, PlayStation, eBay, Walmart, and Microsoft.
The Fees And Limits Of BitRefill
While the fees are not clearly stated, they range between 2% to 3%. This usually depends on the amount you purchase and the cryptocurrency you pick. When sending payments, the network fees from the external wallet are not included. In general, this is a great platform due to the speed and convenience, which it offers.
Learn more: Matcha: When 0x Meets Accessibility
There are also limits on BitRefill depending on the product you purchase. For instance, an Amazon US gift voucher comes with a maximum of $2000 for each transaction while the Amazon UK comes with a gift voucher of £5000.
The minimum limit is set at around $10. On the Thor Lightning Network Channel, the lower limit is set at about $50 and the maximum is set at around $1500.
In Summary
BitRefill has been around for a number of years, it has proven to be a legitimate platform, and it has already received numerous investments from notable figures in the crypto community.