This is no news that Amazon has so far been reluctant in accepting Bitcoin payments for their products online. They also don’t intend to start this service any time soon. However, regardless of their reluctance and forward action in enabling customers to make purchases using Bitcoins, there have been cases where these people have involved third parties to buy Amazon gift cards in exchange for this digital currency. While this is certainly a trend online, it is not entirely reliable and trustworthy. Coinjay will change that and more!
The change Coinjay will bring
Coinjay is a browser extension that can be added to the most commonly browser, Google Chrome. This extension is freely available on Google store and it gives the users an option to pay for their Amazon purchases through Bitcoin. After you have successfully installed this extension on your browser, all you need to do is browse the online catalogue of Amazon and select the products that you need to buy. As you reach the checkout page of the online store, you will see an extra option of payment “pay with Bitcoin” against other payment options under the regular “place your order” tab. Once you choose the payment mode as “Pay with Bitcon”, you will be automatically redirected to “Coinbase”, payment portal powered by Coinjay. Here you will be allowed to make a payment from your account associated with coinbase or any other wallets.
The Additional Charges
The service is undoubtedly convenient for all the users that are looking to make purchases with their Bitcoin wallets or by using digital currency, but be informed that there is an extra charge associated with this type of transaction. Coinjay’s website gives little information about this additional charge but as per the available information, it will be either close to 10% of the transaction value or $5 flat transaction fee charged against bitcoin payments.
The phenomenal response
Despite being just a fortnight old, Coinjay is already 25 installs strong and has garnered 2 positive reviews on the web store of Google. Coinjay is a concept developed by Michael Lee and Richard Gong who also belong to the BayLaunch, a group of passionate designers and hackers who are known to design viable products for the online users.
Even though the concept is well received so far, it is not free from its own set of challenges. It is still unknown if Coinjay will become a mainstream alternative for payment on Amazon or not. So far, this feature is only functional with the Amazon US site and not outside of this country.
Learn about more exciting news related to Bitcoin here.