On this episode of the official Bitcoin.com podcast, our host Zach Doty sits down with Kent Liu of Purse.io, a service that lets users spend bitcoin on Amazon purchases with discounts.
Also read: The Bitcoin.com Podcast: Trace Mayer
Spending Bitcoin on Amazon With Purse.io
During the show, Liu explains how Purse.io works, and how much users can expect to save by using the service to shop on Amazon with bitcoin. Liu says that the Purse team themselves found it “shocking” how they saved so much by using their own platform. With the “Name Your Discount” feature, Purse users can upload their Amazon wishlists to the Purse marketplace, and pick the discount they would like to receive. Someone claims the order, buys the items on the wishlist, and they get the customer’s bitcoin payment.
Zach chimes in with his own experience using the service. He says that he has saved thousands of dollars by purchasing Amazon products through Purse. The biggest discount Zach says he got on Purse was 46% off.
Zack and Liu go on to discuss the success Purse has experienced. Over the last year, the website saw over $7 million USD in volume, and Liu says their activity is growing fast.
The two also discussed the the huge pool of Amazon Gift Cards, which appears to be a huge source of business at Purse. With a market cap in the tens of billions of dollars, those gift cards present a huge potential market for the bitcoin service. Zach and Liu talk about who has those cards, and how bitcoin and Purse.io can help them financially.
To hear the entire discussion between Zach Doty and Kent Liu, listen to the full podcast here:
“We started Purse with the intention of making bitcoin easy to spend while at the same time providing discounts to further drive bitcoin adoption. We believe that bitcoin will revolutionize how we transact . . . Our mission is to make the world flatter and fairer through blockchain commerce. When we started Purse in a coffee shop, we didn’t set out to create a company. We had a hunch that we could use blockchain escrows to liquidate Amazon gift cards and deliver great deals. Our hunch proved to be correct – we transacted over $6M and saved users over a million dollars.” — Purse team
Be sure to stay tuned for future episodes of the Bitcoin.com Podcast, hosted by Zach Doty!
Image courtesy of Purse.io, Zach Doty.