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How to buy Netflix using Bitcoin?

Netflix—as most of you streaming and binge-watching addicted readers of SuperChillin already know—is a super famous streaming site that was launched originally as a DVD rental service by Reed Hastings in Los Gatos, in Santa Clara valley, Northern California.

Many people want to enjoy both privacy that cryptocurrencies like Bitcoin bring and the incredible content that services like Netflix offer. With that in mind, we’ll be exploring how one can use cryptocurrencies like Bitcoin, for example, to buy or renew a Netflix subscription.

First up, what is Netflix?

Netflix, Inc. – as previously discussed—is an American media-services provider and production company headquartered in Los Gatos, California, founded in 1997 by Reed Hastings and Marc Randolph in Scotts Valley, California. The company's primary business is its subscription-based streaming service which offers online streaming of a library of films and television programs, including those produced in-house. As of April 2019, Netflix had over 148 million paid subscriptions worldwide, including 60 million in the United States, and over 154 million subscriptions total including free trials. It is available almost worldwide except in mainland China (due to local restrictions) as well as Syria, North Korea, Iran, and Crimea (due to US sanctions). The company also has offices in the Netherlands, Brazil, India, Japan, and South Korea. Netflix is a member of the Motion Picture Association of America (MPAA).

Netflix's initial business model included DVD sales and rental by mail, but Hastings abandoned the sales about a year after the company's founding to focus on the initial DVD rental business. Netflix expanded its business in 2010 with the introduction of streaming media while retaining the DVD and Blu-ray rental business. The company expanded internationally in 2010 with streaming available in Canada, followed by Latin America and the Caribbean. Netflix entered the content-production industry in 2012, debuting its first series Lilyhammer.

Since 2012, Netflix has taken more of an active role as producer and distributor for both film and television series, and to that end, it offers a variety of "Netflix Original" content through its online library. By January 2016, Netflix services operated in more than 190 countries. Netflix released an estimated 126 original series and films in 2016, more than any other network or cable channel. Their efforts to produce new content, secure the rights for additional content, and diversity through 190 countries have resulted in the company racking up billions in debt: $21.9 billion as of September 2017, up from $16.8 billion from the previous year. $6.5 billion of this is long-term debt, while the remaining is in long-term obligations. In October 2018, Netflix announced it would raise another $2 billion in debt to help fund new content.

What is Bitcoin?

Bitcoin (₿) is a cryptocurrency. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.

Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people using the name Satoshi Nakamoto. and was released as open-source software in 2009. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. Research produced by University of Cambridge estimates that in 2017, there were 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.


How exactly can one purchase or renew Bitcoin with Bitcoin?

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Here's a list of steps involved in the purchase or renewal of Netflix using Bitcoin or other cryptocurrency:
• Make sure you have enough Bitcoin value in USD or other fiat currency to make the purchase. You can always check for the latest bitcoin rates by going to bitcoin price tracking sites like TradingView or Blockchain.info
• Go to BTC to Gift Card trading market place like Bitrefill.com
• On the Bitrefill site, one can purchase USD denominations of $25, $30, and $50, and EUR denominations of €15, €25, and €50. After selecting the exact amount you would like to purchase and adding your email, choose your cryptocurrency to start the order.
• From your wallet, send the exact amount of the order to the QR provided. The transaction is instantaneous, and you’ll receive your digital code in seconds.
And, as cliché as it may sound, VOILA, you now have a Netflix that you can redeem at Netflix.com or on it’s mobile app to enjoy streaming content.
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