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Is it possible to buy Bitcoin on Amazon?
Is it possible to buy Bitcoin on Amazon?
Bitcoin

Is it possible to buy Bitcoin on Amazon?

By Marco Cavicchioli - 8 Nov 2020

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It is not possible to buy Bitcoin (BTC) on Amazon, although several related products can be purchased. 

The curious thing is that for example on eBay this is possible, although somewhat differently.

In fact, on eBay there are individual BTC owners who put them up for sale using the huge number of users who browse this platform. 

In other words, these are private citizens who own bitcoin, and who use eBay’s popularity to get in touch with potential buyers through the publication of sales announcements. 

In some ways, it works the same as on more specialized platforms, such as LocalBitcoins or Paxful, but with a big difference: on LocalBitcoins or Paxful it is possible to make the exchange, complete with escrow, while on eBay it isn’t, leaving it to the two individual users to organize and manage the exchange in another way, which entails some risks.

Whereas on Amazon it is not possible to do this either, for the simple reason that the platform does not allow private citizens to sell their BTC using dedicated ads. 

eBay is not an exchange either, but merely a huge public bulletin board where sales announcements can be published. 

The fact is that, for security reasons, it is worth relying on real exchange platforms to buy bitcoin. These exchanges process the transaction on behalf of users, so that they can be sure to receive BTC from the seller once the payment has been made. 

Given that nowadays there are a lot of exchanges, with often very low rates, the vast majority of users prefer to use this safer and cheaper way of buying, even if usually it is not anonymous. 

In particular, the purchase of bitcoin with fiat money, such as dollars or euros, almost always requires identity verification, while it is possible to do it anonymously, for example on so-called decentralized exchanges (DEX), but only with cryptocurrencies or stablecoins.

Buying Bitcoin products on Amazon

In any case, on Amazon, there are several related products that can be found by searching for “bitcoin”.

The most famous is the so-called “physical bitcoin“, a metallic coin that represents the bitcoin symbol, but that has nothing to do with BTC. It is only a collector’s item, often of little value, but still very popular. 

Probably the most important product sold on Amazon linked to bitcoin are the physical wallets, i.e. devices such as hardware wallets, for storing and sending BTC and other tokens. These devices are widely used, and often purchased on Amazon.

Other popular products are books on Bitcoin, blockchain and cryptocurrency, as Amazon is in fact the largest bookstore in the world. They are also available in both paper and ebook formats, and in this second format they can even be free for Kindle owners. 

Finally, there is crypto-themed clothing, i.e. hats, sweatshirts, and other merchandise, which are often sold mainly on specific sites, i.e. websites dedicated specifically to crypto merchandising, with a greater range of products on offer, and the possibility of paying in cryptocurrency.

 

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 25 thousand subscribers.

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