6. Gyft
Gift giving has always been a viable means of earning money for the companies that provide those gifts. Early in the 2000s, many online gift stores soared from the then young internet. It became a popular venture, as people weren’t limited by the offers of their own vicinity. Although it wasn’t as stable or reliable as physical gift purchasing, it made things much easier for people who weren’t around a wide choice of gifts. Within that myriad of gift-purchasing sites, one stood out, and that is Gyft. They usually provide gift cards at not so steep prices.
The appeal of Gyft was mostly in the fact that they give simplicity to a world where gift purchasing is already a complicated venture. However, in 2013, they made a move that allowed their popularity to skyrocket even more. After some speculation, Gyft decided to start accepting Bitcoin as a viable means of payment. Because Bitcoin hasn’t really taken off at that time, many experts and customers were suspicious about this strange way of amassing a fortune and selling gift cards.
However, there is more to this venture that it seemed at first. Gyft allowed customers to bypass the Amazon payment system. They gave us a workaround which enabled us to buy Amazon gift cards via Bitcoin. Given the fact that many people in developing country didn’t have access to credit cards at the time, this form of payment was proven to be a hit in the making. It immediately increased their revenues, as it gave many people an opportunity to fool Amazon.
Unfortunately, Jeff Bezos decided that Bitcoin is too volatile for constant use and, therefore, he made the decision of removing Bitcoin payments altogether. We’re sure this was just a move to be safe, not a final decision. As Bitcoin rises, Jeff will surely recognize its significance.