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100 sats \ 1 reply \ @gringo 24 Oct 2023 \ on: How to create a local alternative to Bitrefill? bitcoin
I’m currently trying to figure this out myself… learning as I go.
In general my plan is:
- Find gift cards people want
- Find ways to acquire them cheaply
- Find ways to acquire fiat with BTC cheaply
There are several challenges:
- Many gift cards people want are from big companies; gas stations, supermarket chains, telcos. They don’t want to bother with a startup, it’s too low ROI for them to invest effort in integration
- Many bulk gift card providers explicitly ban reselling cards to third parties, only buying for your employees or gifting to customers
My solutions are:
- Manually purchase gift cards via the e.g. phone topup websites
- Program screen scraping tools to enter my credit card details into the aforementioned websites
- Going after small businesses and webshops as early-stage partners
- Selling BTC to buyers willing to pay a premium for noKYC sats
None of this is scalable long term but hopefully I’ll get off the ground.
Thank you for your detailed response
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