PayPanaEnables Anyone to Spend Bitcoins Via Gift Cards from Amazon, Walmart, Google Play, iTunes – The Philippines, International, 30th August 2014
PAYPANA, a Philippine company, is contributing to the expanding purchasing power of bitcoin owners.
What they have arranged with carefully chosen partners is a means to use bitcoins through redeemable GiftCards, allowing what has been considered an extraordinary way to enjoy real life products with digital currency.
By a custom web platform, users can log into PayPana and deposit bitcoin funds. From there, they can proceed to the shop and redeem from a wide selection of gift cards for a minimal fee.
Cryptocurrency news website CoinDesk reported in October 2013 that: “The ability to purchase daily necessities with bitcoin has been something of a holy grail for digital currency enthusiasts, and a lack of such options is often used by cryptocurrency naysayers to claim bitcoin isn’t mainstream enough for mass acceptance.”
Even with the growing popularity of bitcoin, limitations to spending the cryptocurrency remain. Merchants who accept digital currency are still relatively few in number. Therefore, bridges are need to stimulate more widespread bitcoin adoption by both merchants and consumers.
Some companies such as Cryptex and Xapo are attempt to bridge the divide between the existing financial system and cryptocurrencies by introducing debit cards. These debit cards can be used to spend bitcoin funds wherever mastercard or visa are accepted. A bitcoin gift card mall like PayPana offers an alternative means to purchase groceries, gadgets and sporting items by accepting bitcoins and exchanging it for gift cards from reputable retailers.
Reader can learn more at: www.paypana.ph