The below is based on my personal experience and point of view, none of the parties below have been involved in any way with me while writing this guide. Enjoy.
If you don’t know how to use your BTC to buy Amazon Gift Cards (while paying an average of 73% of the value) redeem the card and then buy BTC again (for an average of 85% of what you had in Amazon) this guide is for you. You will be earning around 12% in BTC during the process if not more than that.
If you do know please share your experience with me I would love to improve.
I’ll be writing a short version of the guide in the beginning for those who don’t like to go through a lot of line and then I’ll explain everything in details and I want absolutely nothing in return, my words will prove that.
If someone wondered about my motives I’ll be more than happy to share the reasons behind doing this but for now here is what you need to do:
1. Have accounts on the safe P2P trading networks LBC and PAXFUL are the only two I know.
2. Fund your wallet(s)
3. Make your own listing (You can find my terms and instructions in the guide if you don’t want to write your own)
4. Wait for someone to comply with your requirements. Don’t give up easily if you have little to no positive feedback
5. Successfully complete the purchase of the gift cards and redeem them to your Amazon. Repeat till you are satisfied with the amount of funds you have in your Amazon balance
6. Go to the amazing Purse.IO and fulfill a wish list that will make you profitable, in addition you can buy something and sell it locally if you have sales skills, you will be making your BTC value +25% if not more or just get something you fancy yourself at a nice discount
Unfortunately it is not as simple as that. You will meet a lot of buyers who don’t know what to do and Amazon will eventually close your account for no reason. There are a lot of details you have to pay attention to and I am going to share my experience from the beginning till the end.
First you need to connect to the trade networks:
LocalBitcoins (LBC)
This is where I purchased my first BTC a couple of years back while I was living at Dubai. Registration is easy, the site is safe and the moderators are really decent. The higher the level of verification you give the more perks you get.
I assume getting to the point where you are reading about trading, you know how to fund a BTC wallet, if not you can’t check on YouTube, you will find a lot of resources.
Once you are done just go to the dashboard and create your AD (My personal terns and instructions are written below)
Make sure your AD is active and wait for a buyer.
Paxful
I started using Paxful 8 months back and the word to describe is impressive, whether they are one of the few companies on Earth that implements a real business excellence model or they are just lucky, you see them improving faster than your need for them to improve.
As a vendor, and a computer engineer who had experience working with multi Billion dollars organizations I really respect this team; very methodical and creative.
If I have one concern about them, it’s my BCH and BCG which till date I didn’t receive.
Again registration is easy and verification will put you in a better place, this is only fair and reasonable.
Fund your wallet and below are the things I write in my terms
Create a listing
You will be Selling BTC Buying AmazonGiftCards from the USA and the currency is USD
Trade terms:
This is very important! And you always have to remind the buyer about that she/he accepted the terms and it goes like this:
By initiating a trade you have understood and accepted the below:
• This offer is for US AmazonGiftCards only. “Some people may try to sell other kinds of gift cards or gift cards from other countries”
• You have a physical cash receipt and the matching card in hand, I will not be responsible if you are a reseller as I may ask as for different pictures from the one you will share. “All this data will be explained in the Amazon section of the guide; the card has to be purchased by cash from an amazon authorized store.”
• Do not share anything without me asking for it. “A lot of people will come and dump pictures to you then claim they paid you, these cards are probably always used. NEVER REDEEM A CARD UNLESS YOU PAID FOR IT ON PAXFUL/LBC, this is very important to resolve future possible disputes with Amazon.”
• If you violated the terms you must cancel upon request. “Cover your behind”
• If I asked you to cancel at any time before you pay you must comply without asking for any reasons. “Sometimes you will have a dozen trade open and you will be shuffling between windows, get an important call or just reach your limit and can’t take any more for now.”
• You will strictly follow the trade instructions. “Will be covered below”
Instructions:
Please read the terms if you haven't read them already
1. Wait for me to initiate a chat “Say hello”
2. Share a clear photo of the receipt. Make sure it includes all 4 corners of the paper. This must be the receipt that shows the method of payment “This is a very important step, you need to make sure the receipt is readable and legit as Amazon may ask you to send it to them along with the card. I will share in details what to examine in the receipt later
3. Do not share anything else until I ask you to, If you did you must cancel “Some people may not share a valid receipt and they need to understand that if you do not accept the receipt you will not accept the card”
4. I examine the receipt and I decide whether I ask you to share the card or cancel the trade
Optional:
To avoid having problems I advise you to go to http://www.amazon.com/redeem put the claim code and press check. Please do not press redeem of keyboard enter otherwise you will lose the balance.
Take a screenshot and make sure you have this trade window in your explorer bar and you have the time and date available.
You can skip this step if you want, your choice.
Receipt is OK.
If you don't want to do this. Please move to step 5.
If I decided to proceed you must share a clear picture of the card if the numbers on it are matching the receipt. Make sure I can see all 4 corners of the card
5. If everything is fine I redeem
6. Escrow will be released in less than 5 minutes
Have a nice day
What to examine in Receipt/Card:
1. Store Name on the receipt
Only accept cards from stores on the list shared, otherwise Amazon may lock you out of your account:
https://www.amazon.com/b/ref=amb_link_1?ie=UTF8&node=13582391011&pf_rd_m=ATVPDKIKX0DER&pf_rd_s=center-1&pf_rd_r=4R9AE9YAZN02Q9W3E3MQ&pf_rd_r=4R9AE9YAZN02Q9W3E3MQ&pf_rd_t=1401&pf_rd_p=767aac4b-1b02-4a6f-ac6b-54067e9a9271&pf_rd_p=767aac4b-1b02-4a6f-ac6b-54067e9a9271&pf_rd_i=1000465651
2. Time and date of purchase
3. Gift card serial number (Complete or Last 4 digits)
Some receipts come in 2 pieces, this is where you use the time and date to verify
4. Payment method. In general go for cash, but if you are dealing with someone you trust/verified and can support you in case Amazon asked questions go for Debit/Credit
5. Visually examine the receipt for any inconsistencies make sure it is not edited by any image processors
6. If you are new I do not recommend accepting cards for above 200USD. I personally redeem the 500USD card easily but that requires additional processing which I will cover later
7. If all the above passed, accept the card then make sure the AQ claim code on the card is readable
8. Make sure the serial number on the card is matching the receipt
9. Try to redeem to your Amazon account, if it worked release the escrow if not quickly take a screenshot (Windows has a very useful tool called snipping tool) and share it to the trade and communicate with the buyer
That’s all that there’s to it. It takes a while to hold your grip on it and you might lose a little money but once you made it, you will enjoy it.
While communicating with buyers try your best to always be professional, it may not come from the next day but set your goals high, attempt to provide world class service and try not to lose your temper “note to self”
Margins
If you are going to use the http://purse.io model do not go for anything below 28%, otherwise it’s not worth the risk/effort.
Price is one of the key elements to attract buyers but it’s not the only one. Be patient, traffic varies based on time, date, supply and demand. Always check the market prices to determine where your listing will be placed.
Note: A lot of genius traders will block you so that you won’t see their price in an attempt not to have you compete. You can very easily overcome this by asking a friend to create another account on your machine using a different browser and you can keep monitoring the market.
Special Conditions
I personally don’t put any special conditions except “Cash only, Receipt Required, Physical Cards only”. I’ve noticed some traders ban traders from certain countries due to repeated misbehavior from certain people but I am against banning a whole group of people because of the trouble caused by some. This will also improve your chances if you are starting.
When trading gift cards I do not see the necessity in trading with buyers who verified their emails/phones. Again this will enhance your opportunities.
Purse.io and other means of spending your Amazon Balance
With time, patience and dedications you may build your personal trade network, have your own gift card suppliers and contacts for Amazon shoppers who are just waiting for you to order for them, but if you are just beginning and you are not buying something for personal use, or giving to a store http://purse.io is the place to be.
All this service does is regulate the trade between people with BTC and Amazon wish lists, and people with Amazon balance. It is dedicated entirely to that so they give it a lot of attention.
100% safe, easy interface, and awesome support along their team is the exceedingly beautiful Zarina.
All you need to do is see how much you sold your coins for and how much you are buying for and enjoy your profit.
AMAZON
I am putting this at the bottom as this is the riskiest most complicated part of the process. Although the business is 100% legit, Amazon had been the biggest kid on the block for so long and now they no longer care.
Over the past few years their service had been going from bad to worse, they now have around 1000 complaints registered with the BBB (Better Business Bureau) and a B rating (which is given to shitty companies), they also have a 3/5 stars on consumer affairs, which again a rating you give to restaurants that gives you food poisoning.
According to multiple sources on the internet Jeff Bezos is the worst boss in the world.
They now have a lot of room to improve.
When dealing with Amazon you have to be very careful, there’s a chance you may lose your money.
Here’s what you need to know about Amazon:
1. Never use the same device for accessing more than 1 account. Amazon will mark your MAC address and will close any accounts related to your account. You can easily overcome this by using VMWARE or an Anti-detect browser. I prefer VMWARE
2. Never use a VPN or a Proxy
3. Try not to use your account from different places
4. Before you open an account make sure you have; A picture/scan of a valid ID/Proof of address
5. Consider asking friends/family to open Amazon accounts as well for you to use, or just ask strangers and give them part of your profit. Never use unauthorized ID’s. I personally am profiting from around 10 different Amazon accounts all over the world and I have 3 persons who I trained to handle Amazon support at any given time, they in turns have trained people …etc. Should 1 account fail I will not be losing anything.
6. Try to place 1 order per account and distribute your load of redemption
7. Don’t worry about sending faxes you can send them online for free
8. Try not to use your Credit card, instead pay for shipping yourself
That’s it. Hope you find the information shared useful.
If you need further assistance or you have a comment please do not hesitate in contacting me
If you liked what you read, helped you improve your methods, or it made you profit I’ll be accepting tips for the time being, for some reasons I need them.
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