Can I Do Shopping Using Cryptocurrencies Saved in Exchange Wallets?

mmoga.com is a website selling a wide variety of online gaming products, game cards and PlayStation Network (PSN) and PlayStation Plus card codes. I have been a frequent customer for almost a year now because they accept Bitcoin as a method of payment via BitBay (MMOGA, 2016). Once the BTC transaction has one confirmation upon payment, you could receive your code to your email within 10 minutes max. The website is great, their customer support is professional and they accept other methods of payments, but discussing the website itself can be done in another review or article.

When I first tried the website, I did not want to risk much, so I tried purchasing a £5 PSN card via Bitcoin and it worked smoothly. I did so from my blockchain.info wallet. Six months later, because of the Bitcoin scaling issues, the transaction fees became a nightmare. Paying low fees might keep the transaction on hold for a long period of time, like weeks or even months, so I stopped purchasing cards via BTC for a while. Then, an idea came to my mind. Until almost a couple of weeks ago Poloniex used to charge me 0.0001 for each BTC transaction. This is absolutely cheeper than many other Bitcoin wallets. Thus, I decided to give it a try and purchase a card by initiating a BTC transaction from my poloniex wallet, which is a wallet that I do not control its private keys. Surprisingly, everything went smoothly again. Five minutes after one confirmation, I received my PSN card codes to both my mmoga account and email. Subsequently, I repeated the process several times buying PSN cards way more expensive than the £5 one.

Please be careful though. What I did was really risky. I was lucky enough to not have any problem with Poloniex leading to filing a support ticket. Otherwise, I would have probably received a reply 23 years later. Also, even though the total amount of BTC I have spent on PSN cards seems reasonable to me, I might regret my actions in the future when the BTC price skyrockets more. I could end up asking myself why I purchased a couple of stupid PSN cards in exchange of valuable BTC. Yeah, same like that guy who bought a pizza for thousands of Bitcoins.

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