George from Honey here. Introducing HoneyCoin, the bitcoin payment product we promised to build

A few months ago we proposed a frictionless bitcoin payment idea on /r/bitcoin and promised to build it if the community wanted it. The community wanted it, so we built it.

The project turned out to be a lot harder than expected, especially the business side of purchasing exact value gift cards in real-time. To make sure HoneyCoin is scalable and sustainable, we are going through the process of getting official approval from the merchants. The approval process is slow, but we’re encouraged to see that most merchants already have bitcoin on their radar. The biggest thing holding back many of them is the risk and cost of adding a new payment method to the checkout for an unknown gain in sales. HoneyCoin is a risk-free way for them to test the water before jumping in.

The good news is that we can support far more stores than just Amazon. We have approval on 8 stores and another 30 stores, including Amazon, are in the approval pipeline. Instead of waiting any longer, we want to get the product out into your hands so we can get your feedback and begin improving the product.

Approved stores:

• Papa John’s


• AMC Theatres


• Bass Pro Shop


• FTD


• Brookstone


• Hyatt Hotels and Resorts


• Omaha Steaks


• Burlington Coat Factory

Some stores in the approval pipeline:

• Amazon


• GAP/Oldnavy/Bananarepublic/Piperlime/Athleta


• Dominos Pizza


• Groupon


• Kohl’s


• Best Buy


• Barnes and Noble


• Sears


• Gamestop


• Dell


• Carnival Cruise Lines


• Adidas


• American Eagle


• and many more

As promised, we will create a public dashboard to publish the real-time sales data for each store.

We’ll be opening up HoneyCoin for private beta later this week. You can sign up for a beta invite here.

Some caveats:

• You will need a user account to use HoneyCoin. We're selling you a gift card and we will need your email address to send a backup.


• There will be a global daily spending limit because we have limited funds to pre-pay for the gift cards.


• It will be Chrome only for now but FF support is on the way. We want to iron out all the major issues first.


• HoneyCoin will be a separate extension from Honey. Google recently updated their Chrome store policy to limit extensions to "single use".

If you have any feedback or feature request, please post them here in this thread. We can’t build everything but we will give each request serious consideration.

TL:DR

OP delivers!

HoneyCoin is a real-time btc to gift card exchange that gives you a frictionless bitcoin payment experience on some really popular sites.

Sign up for HoneyCoin beta here.

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