Bitcoin is the beginning of something great: a currency without a government, something necessary and imperative
— Nassim Taleb – Author and Risk Analyst

iPayYou is Bringing Bitcoin to Amazon

Bitcoin payments have never been advocated or accepted through the online mega-platform Amazon, but it looks as though things are changing.

Is it fair to say that Amazon and bitcoin have had a rocky relationship?

While major selling havens like Overstock.com have been quick to embrace the digital currency’s stamina, the same cannot be said about Amazon. Bitcoin payments have never been advocated or accepted through the online mega-platform, but it looks as though things are changing.

Amazon has begun accepting bitcoins “indirectly.” No, customers cannot actually use bitcoin to pay for goods and services yet, but transferring bitcoin to USD is certainly accepted. Amazon Direct now allows consumers to transfer any dollar amount from their bitcoin wallets with iPayYou to Amazon.

This is likely to stir a commotion. With the holiday season coming up, Amazon will soon see its numbers rising, and with events like Bitcoin Black Friday just around the corner, the savings could be endless, so it’s a fine time for the fuse to take place.

Current CEO of iPayYou Gene Kavner previously served as the worldwide director for Amazon. In a press release, he explained:

“During my time as an executive at Amazon, we closely studied the friction points and obstacles faced by shoppers, including and especially with payments. Bitcoin is a solution to so many of those problems. That’s why today, in time for the holiday season, we’re launching the most direct way to spend bitcoin anywhere, starting with the world’s largest retailer.”

Prior to the move, bitcoin could only be used to purchase digital Amazon gift cards. 

iPayYou is a Seattle-based startup that launched in May of this year. The wallet service also allows users to purchase gift cards for Best Buy, Starbucks, and iTunes with bitcoin.

Kavner added to his words by saying:

“We want bitcoin to be the everyday default currency. The only way for that to become a reality is to provide consumers with practical ways to spend their bitcoin ... that is our grand mission, something the team at iPayYou is working tirelessly to achieve.”

~Author Nick Marinoff