HOW TO SAVE ON AMAZON WITH BITCOIN?
It is a marketplace for crypto supporters that allows shopping on Amazon using cryptocurrencies as payment. As you may know, the official Amazon store currently does not accept Bitcoin or altcoin payments. Purse’s purpose, therefore, is to bridge the gap between Amazon and cryptocurrencies.
For instance, if you want to buy a Ledger Nano S on Amazon. You could readily do so with the Purse platform.
The company launched in April 2014 and introduced the “Buy Now” feature in November 2015. As of today, 19 workers are employed, 47% of which are non-US citizens.
According to their website, their service has “No minimums, no blackout dates, no gimmicks.” They claim to have the best deals online.
Purse accepts both Bitcoin and Bitcoin Cash as payment.
Shoppers and Earners are the two types of users on the platform, and they have a transactional relationship.
Shoppers purchase Amazon goods with their cryptocurrencies. Earners receive those currencies and trade them for their Amazon gift cards, which are used to complete the Shoppers’ orders.
It works like this:
- The Shopper places an order.
- The order is placed in the order book until an Earner accepts.
- The Earner completes the order of the buyer.
- The Earner receives the equivalent cryptocurrency.
The Buyers enjoy discounts while the Earner gets the opportunity to liquidate their gift cards for cryptocurrencies. Everybody wins.
Earners trade their gift cards slightly below market price, at a default 5% discount for Shoppers. If Shoppers want to raise the discount amount, they can opt for the Name Your Discount option, which enables them to set their own discount between 6% and 33%.
Lower discounts usually result in quicker order executions while higher ones likely take longer to complete. Shoppers who raise the discount percent too high risk not matching with any Earner at all.
The Purse Executives
Andrew Lee – CEO and Co-founder. Andrew is in charge of Pures.io’s strategy, partnerships, and growth. He co-founded Superior Payment Processing and worked as an engineer at LG. He holds an MBA from Georgia Tech and a bachelor’s from the University of Florida.
Christopher Jeffery – CTO. Jeffrey has worked with several big-time internet companies like GoDaddy and Bitpay.
Steven Bower – VP of Engineering. Bower is a full-stack web application developer and tech entrepreneur who has extensive experience in front-end development, backend application design, and mobile applications. He is very interested in the Bitcoin development space.
Purse allows users to buy Bitcoin and Bitcoin Cash not only with Amazon gift cards, but also Amex Membership rewards, credit card rewards, Chase Sapphire points, Amazon credit cards, and general credit cards.
All you need to do is navigate through the Earn tab of the website and browse the available orders.
For a successful online business, Purse seems to have garnered a lot of negative user reviews, mostly due to issues with transactions and poor customer service. Many individuals even declared the whole thing a scam.
One reviewer called the experience a “nightmare” and said he would never recommend the service nor try again.
Another dissatisfied customer stated that the site is “full of scammers and [has] terrible customer service”. The same user also shared that he was allegedly scammed £200 yet customer service ignored all his queries.
But it’s not all negative. A self-proclaimed long-time user shared that “the experience definitely leaves a lot to be desired and support staff takes forever to address issues. However, the savings are well worth the hassle.”
Purse offers a unique Amazon shopping experience, specifically geared towards crypto enthusiasts and users, despite their flaws.
All things considered, it’s safe to assume that their service does “work”, but needs improvement on their customer support department as well as the buying process. Resolving user pain points should be a top priority.
If anything, the fact that this company is still around after nearly five years of operation proves that there are users satisfied with their service.