CNN Money covered the story of BitPay and Gyft’s new partnership. [TIP: Watch the top video in the article, it gives a great short overview of Bitcoin, while the bottom video shows how easy it is to spend and receive Bitcoin payment--via QR code.]
1. BitPay allows the processing of Bitcoin.
2. Gyft is an Android app that allows you to buy and upload retailer gift cards to spend at those retail stores.
So, together, you can buy retailer gift cards through Gyft while paying with Bitcoin via BitPay, then spend the giftcard balance at the common retailers, like Gap, Lowe’s and Burger King!
BitPay co-founder and CEO Tony Gallippi shares that this partnership will allow Bitcoin usage to expand from their 8,000 nationwide retailers to over 50,000 retailers!
The article touches upon the adoption of Bitcoin from WordPress and Reddit. WordPress spokeswoman shares they started accepting Bitcoin more out of curiosity, then profit and some have paid with Bitcoin. Whereas, Reddit is experiencing 5% of sales being made by Bitcoin.
Knowing that more retailers are accepting Bitcoin shows that this cyrtocurrency is more here to stay and is being taken more seriously, and the more retailers accepting it–the more it will become mainstream…rather than just a digital fad.