Two big online gift stores eGifter and Gyft have changed their policy and require that bitcoin payments are made through a major bitcoin wallet. Wh
Two big online gift stores eGifter and Gyft have changed their policy and require that bitcoin payments are made through a major bitcoin wallet.
While the two gift card shops used to accept bitcoin payments, they have changed their current requirements. Payments at Gyft should be made through Coinbase or BitPay, whereas eGifter works with Coinbase, according to cryptocoinnews.com.
Gyft and eGifter have announced the changes in the way they accept bitcoins.
“We realize this may not be right for everyone and are considering other options going forward”, stated eGifter.
Also, eGifter notes that if users have extraordinary buying needs, they might consider switching to a VIP Consumer Member or a Corporate Bulk Account.
On the other hand, the Gyft blog explains that Gyft has directly integrated with Coinbase which will enable users to pay with their Coinbase wallet. The Gyft website advises customers who don`t have a Coinbase account to set up one via the link provided by them.
Why changes matter?
Gift cards have played an important role in enabling the use of bitcoin to pay for everyday shopping online. It should be noted that both Gyft and eGifter make it possible for users to purchase gift cards for retail shops that don`t accept bitcoin directly.
“These changes demonstrate rising monopolization of bitcoin acceptance of retail purchases by two of the largest bitcoin wallets. Such monopolization will be viewed by many bitcoiners as contrary to one of bitcoin’s initial benefits – decentralization.”, according to Lester Coleman, a writer for cryptocoinnews.com.