Bitcoin and Altcoins are finally getting the attention they deserve!
After undergoing several phases, an increasing number of individual and online merchants now accept Bitcoin as a form of payment.
The adoption seems to be on the rise as some offline stores are also accepting the cryptocurrency as method of payment.
Bitcoin has gotten its most significant adoption from the e-commerce space. Overstock have been accepting BTC payments for a while now.
However, Bitcoin payment method is yet to be accepted by the largest e-commerce giants like; AliExpress (owned by Alibaba), EBay and Amazon.
Though, Amazon now has another subsidiary that is known as Amazon Pulse, which accepts only cryptocurrency as its own method of online payment.
AliExpress being the biggest e-commerce platform, manufacturers and buyers use them often. Despite the popularity, it only accepts fiat currencies as payment options.
Note: They are yet to adopt Bitcoin and Altcoin (i.e. Alternate cryptocurrencies) as a means of payment.
Despite not having cryptocurrency as one of the payment options, people can still use Bitcoin to purchase products on the shopping platform.
This is possible, because some vendors accept BTC in exchange for virtual debit cards or gift cards, which can, in turn, be used to buy goods on AliExpress.
In this guide, am going to discuss some of the options available to you, when using Bitcoin to purchase products on the e-commerce platform.
3 ways to pay with Bitcoin on AliExpress
Although you can’t use BTC to pay for products directly on AliExpress, these methods are only available for you to use instead of fiat currencies.
1. Shopping gift cards
This is another way to purchase items using Bitcoin indirectly. You can exchange BTC for gift cards, which are acceptable by some merchants on AliExpress.
Gift cards have been around for a while, and they can be redeemed as cash. Thus, the reason why merchants accept it as a reliable payment method.
2. Third-party services
There are third-party services online that services as intermediaries to these top shopping platforms, and allows you to make payment for items with your cryptocurrency investment.
One of the these kind of service is Shopping.io, which was established as of December 2020.
It was founded by dropshipping veterans with a vision to make purchases with crypto. This platform allows you to buy items online from your favorite stores with crypto-coins.
3. Bitcoin debit cards
You can fund your debit cards with Bitcoin, and the provider automatically changes the BTC to fiat currencies when making purchases.
These debit cards allow you to shop items on AliExpress using Bitcoin.
The debit cards can either be real or virtual. There are numerous Bitcoin debit cards that convert the cryptocurrency to fiat currencies at the point of checkout.
You can use their Bitcoin debit card to pay for goods on AliExpress and other e-commerce platforms like Amazon.
You may have some confusions about this subject, but here are my answers to some of the frequently asked questions about how to pay with BTC on AliExpress.
What is AliExpress?
AliExpress is an online retail service launched in 2010, and owned by the Alibaba Group.
The platform is made up of small businesses in China and other locations, such as Singapore, which offer products to international online buyers.
AliExpress is generally, a popular online store for buying products at much cheaper prices than Amazon and other similar services.
Why are AliExpress items so cheap?
Unlike Amazon, majority of merchants selling products on AliExpress are based in China, and source their merchandise directly from Chinese manufacturers.
This keeps costs down and means they can afford to offer free or very cheap shipping as well.
Does AliExpress accept Bitcoin directly?
Overall, Alibaba group does not accept Bitcoin, or any other cryptocurrency payment directly on AliExpress, but you can make use of the methods mentioned above.
Is it safe to buy from AliExpress?
Contrary to popular belief, buying from AliExpress is very safe. In fact, it’s probably safer than shopping from eBay, because of their buyer protection.
AliExpress guarantees that if your product doesn’t arrive on time, or as described in the listing, you can get a full refund.
Can you get scammed on AliExpress?
AliExpress offers some really good deals, but not all products are legit. You can get all sorts of counterfeit items – from electronics to clothing.
Some sellers have also been known to defraud buyers by tricking them into paying before they receive an item and then disappearing with the money.
Bitcoin is slowly gaining adoption in the e-commerce space, but yet to be adopted by the most prominent players like; AliExpress and Amazon.
Despite the fact that it’s still not available, people can still pay for goods on AliExpress with BTC using either Bitcoin debit cards, gift cards or intermediary services.
The cryptocurrency is converted to fiat currencies at the point of checkout, making it convenient for all parties involved.
Don’t leave your cryptocurrency in an exchange wallet, as they are most target for hackers, who steal people’s investment with viruses.
Since you are going to doing shopping online a public platform, it’s good to hide your transaction footprints with a VPN (i.e. Virtual Private Network).