If you regularly purchase products on Amazon and would like to receive discounts on almost any product you buy, then this article is for you. In this post, you will discover how to save up to 25% on Amazon by buying your products using bitcoin through the platform Purse.
What is Purse?
The company offers an online platform that allows people to buy items from Amazon using bitcoin while at the same time giving steep discounts to the buyers. This is a dream come true for anyone who regularly purchases on Amazon and is happy to use the digital currency bitcoin to make online purchases.
How does it work?
For instance, let’s say you decide to use bitcoins to buy a couple of items off Amazon at a discount. First, you buy bitcoin on an exchange, such as Coinbase, and then deposit your bitcoins in your Purse.io account. Next, using ‘share URL’, import your Amazon ‘wish list’ to the platform and indicate what level of discount you prefer each item. Once complete, the listing will be posted on the Purse.io marketplace.
The items on the wish list will be purchased by someone who is seeking to obtain bitcoin for the same amount using his/her credit card. Releasing the bitcoins requires you to notify Purse.io upon receipt of the items at which juncture the bitcoins are transferred from the escrow into the other party’s account. An interesting point is while a 25% maximum discount is recommended, users are allowed to set the limits and discounts on transactions have been known to reach 45%.
Purse, therefore, allows users to receive discounts on Amazon purchases and allows their counterparts to receive bitcoins in the amounts they desire.
Furthermore, Purse aims to incentivize buyers by not charging any service fees. Instead, the company levies a 1% fee for people selling bitcoin and getting a discount on Amazon. The company noted people were eager to spend bitcoin but were discouraged by the high fees charged by other services. To encourage people to unload their bitcoins and improve access to the digital currency, changes were made to the fee structure.
“I think people that try it and realize they just saved 25% on Amazon are excited about that possibility. For the first time they’ve been able to do something useful with bitcoin (rather than just buy and hold)” – Andrew Lee, co-founder of Purse.io
If you are regular Amazon shopper and are comfortable using the digital currency bitcoin, then you should definitely check out Purse’s platform.