Bitcoin E-commerce: Gift Off3 min readReading Time: 3 minutes
Gift Off, founded in 2013 in London, was one of the first companies to sell gift cards to retail businesses in exchange for Bitcoin. Created by Rusty Nash, Gift Off makes shopping in Europe using Bitcoin very simple.
Rusty started Gift Off by purchasing gift cards for customers who had paid him in Bitcoin. In the first month of operation they generated $10,000 in profit, and Rusty realized the potential for growth. Rusty started working directly with retailers instead of purchasing cards on his customers’ behalf.
Today, Gift Off accepts Bitcoin on-chain and via the Lightning Network using OpenNode for the largest range of digital gift cards in Europe from retailers like Amazon, Tesco, Nike, Adidas and many more. Gift Off now offers more than 180 gift cards.
A simple service for purchasing digital gift cards with Bitcoin
Rusty always had a goal to create a simple solution for anyone interested in spending Bitcoin at their favorite retailer.
Signing up for the Gift Off platform takes minutes and only requires a name and an email to get started. After creating an account, customers can simply browse the selection of gift cards, choose their desired gift card and value, and select the option to “Buy Now.”
After selecting to pay with Bitcoin and going through the OpenNode checkout, customers will receive an email confirmation of their purchase and a message informing them that their gift card is ready to use.
Lightning Network powered business
By integrating with OpenNode, Gift Off now has the ability to accept Bitcoin payments both on-chain and via the Lightning Network. After receiving repeated requests from their community of users, they knew they needed they needed to implement the newest Bitcoin tech.
“Adding Lightning Network support at Gift Off initially came about through repeated requests from customers. This is often how new features are added. For example, Gift Off originally started out in 2013 as a way for bitcoin users to shop with Amazon, driven by the community wanting to be able to use digital currencies day-to-day, not just as a way to invest and trade. We looked into rolling this out and understood the benefits of near instant transactions and reduced fees.”Rusty Nash, CEO Gift Off
Gift Off only provides gift cards that can maintain the seamless digital gifting experience. Gift Off takes in as much feedback from their users as possible to help improve their platform. They’re always accepting suggestions and requests for new gift cards to offer.
Automatic Bitcoin conversions
Gift Off requires the exchange of Bitcoin for traditional currency quickly to make payments to their supported retailers. This is why Gift Off finds the OpenNode platform very useful: OpenNode offers automatic conversion of Bitcoin to traditional currency at the time of the transaction.
“Without automatic bitcoin conversion, we wouldn’t be able to accept bitcoin. This is (sadly) since the brands we sell gift cards for won’t accept digital currencies themselves, only fiat. We avoid fluctuations in bitcoin price by using automatic conversion to fiat, which allows us to operate the business in the first place.”Rusty Nash, CEO Gift Off
Gift Off has found the formula for success in the gift card industry due to their focus on providing a seamless experience for their customers. If you have Bitcoin and are looking for a place to spend it in Europe, check out GiftOff.com for one of the easiest ways to spend your Bitcoin using the Lightning Network online today!