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Mar (GetBspendB) Review: Buy and Spend Bitcoins Via Amazon

GetBpendB has changed to The service is now open to the public so go try it out!

A new service is under construction that is intended to enable people to buy Bitcoins through Amazon and to spend Bitcoins on Amazon products with a discount. GetBspendB is described in detail on by one of the developers. The terminology there might be a bit confusing, because when you think about it, spending and buying are basically the same thing, but the odd description does not change the quality of the service. logo

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I was given the opportunity to beta test this new idea and while there were plenty of minor technical glitches, the service was still very interesting and convenient. There is a 5% fee when buying Bitcoins through Amazon, which is a little steep for me, but some people will love to buy with a credit card or other payment methods that are usually more difficult to use. On the other hand, there is a 4% discount when spending Bitcoins for Amazon products, which I love and will probably use more often in the future.

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As a Bitcoin “Spender,” my journey began with creating a wishlist on Amazon. Sigur Ros CD, in case you were wondering).

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My only significant gripe is the fact that you can only place orders that are fulfilled by Amazon. This will not always be bad, but sometimes other sellers have the same items available for cheaper. For instance, one seller had my CD available for $8, but I had to spend the full $11.50. Even with the 4% discount, I was forced to pay more than was really necessary. Fortunately, this will not always be the case. For many items, Amazon’s offer is really the cheapest, and the discount can really be beneficial.

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Another potential problem area could be with disputes. I never had to deal with one because my order was successful and legitimate, but I can see scammers possibly causing problems in the future. They might supply bogus tracking numbers, or maybe Amazon will make a mistake and the “Spender” will be in trouble. Hopefully GetBspendB can do a good job of collecting evidence and settling disagreements.

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The developers have also said that they plan to add functionality for other retailers eventually. This will broaden the horizons of GetBspendB quite a bit, perhaps allowing people to spend Bitcoins at Wal-Mart, Best Buy, and more. This might be particularly useful for those who desire to liquidate unwanted gift cards. For instance, I have a $330 Best Buy gift card that I really don’t need. If I could be matched up with people who want to spend Bitcoins on Best Buy items, then I could turn that card into real money. In fact, let me know if you need anything from Best Buy, I’ll give you a 5% discount. This sort of service could be profitable for all kinds of people.

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GetBspendB still has a long way to go, but I think it once it’s complete, it will become relatively popular. The Amazon discount is the most attractive feature to me, and I’ll probably end up doing some Christmas shopping with Bitcoin. It will also be convenient for people who want to buy Bitcoins with a variety of payment methods. This really is a unique service, and I hope it is successful.

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