Topic: Should I be comfortable using Purse.io? (Read 211 times)

Elsewhere I also saw the thread:[ANN] official Purse.io created by: @mrkent, as you said last update thread in 2019, not much information to be had.

their ANN: Topic: [ANN] Purse.io - Bitcoin Amazon Marketplace - Save ~10-25% on Amazon Wishlist


Now the decision depends on you, want to use their services or something else, if something can be accounted for why not.

Thanks for the links. I'll have a look through these soon and I'm not sure if I've seen them before but they look to be from users who were fairly newbie/ones I hadn't come across around the time those threads were created. They also seem quite old compared to the more recent users that have used it for years.

It'll be an interesting read though to see what actually happened in each of their cases. The one about them closing down I'm aware of but they didn't actually change owners and the reopening looked more like a publicity stunt at the time (like a "use it or lose it" style stunt).

Edit: one of those looks like it's from part of the service (or another service entirely) that was defunct. The two others seem to be from earners facing problems which could be legitimate, and they might not be too there's such little information given (such as how they got the vouchers) from what I can tell anyway.

@jackg I've seen serious discussions members discuss and talk about the Purse.io exchange.

But if you want to see about the Purse.io talk, of course you can see it below.

• Topic: [Warning] Purse.io is a SCAM stay away!

• Topic: [Warning] Purse.io is a scam

• Topic: Purse.io is shutting down

• Topic: Purse.io Thief and Lies

Apparently, the difference is quite far from what I saw on the purse.io exchange, there have been a series of accusations against purse.io.

I don't know exactly what is right and wrong, in fact, I see some confusion about purse.io's reputation.

Yeah my main issue with the site was that a lot of the reviews were very old of people discussing it (a lot on reddit are 3+ years old and thing change - like how they were discontinued and then wasn't stopped).


Yeah I did think another use of this was probably to hold bitcoin and, based on averages, you'd probably be up when you wanted to spend the crypto if you only had the take a cut of 15-20% and were planning to consolidate a few vouchers at once.

You can no longer buy vouchers or any digital products with it abs that's probably quite a good thing - if you buy something physical and wait a day or two for it to be delivered, it's less your fault and more amazon's/a bank's and the hacked. Most things bought with cards are refundable too. I got stuck putting in a 2fa code when trying to buy groceries to the same address registered with my bank so I guess they are quite responsive with security surrounding credit card usage (as well as chargeback potential making Amazon do better due diligence).

I used both side there, buyer and seller

There are truly people ready to pay a premium price but like everywhere, there are always idiots trying to cheat the system.
From time to time I received Amazon vouchers but didn't know what to do with it, so Purse.io was good enough to get rid of.
Stupid thing since I could use the vouchers with Amazon Pantry but didn't know Pantry.

You're always at risk to get someone using stolen credit cards but nowadays this risk is low since we need to receive a SMS verification or Android notification (at least in EU, hard to pay something without a phone)

The only thing I wouldn't do with purse.io is to buy gift cards (if it's still possible)
Either the wish list or nothing

If you are not comfortable using it for now maybe seek more feedbacks comes from there user then see to it that if those people really getting a nice experience by using that platfrom.

Also so far using this for months never get any problem but since this is also new to me I didn't tend to put some huge volume of BTC since I'm to skeptical about using other platforms which I didn't used for years. So if you want to try maybe use only what you need for transaction or anything you want.

They seem to have a wishlist import feature too? I thought you could make a wishlist with amazon and import that (they'll probably only then see your profile name and your wishlisted items)?


Thanks! I've seen a lot of examples of posts of this but a lot are on reddit and I'm.barely over there (also those were quite old).

The mturk link looked interesting too. I saw the thing about amazon.com cards too being offered as rewards too for things like credit cards which would also make sense (gift vouchers can probably be bought even more cheaply by those firms - like.flight miles and other things normally offered as rewards).

I've spent several hundred dollars buying through Purse.io and have not had any issue with payments. My only concern is with privacy. I do not like having to disclose personal information to Purse so I only use it if I'm on a tight budget and need to make an expensive purchase.

I have been using it on and off for years with no issues.
From my understanding, and it could be very wrong, a lot of the users are using gift cards that they got for doing things that they cannot cash because they are out of the region and Amzaon does not allow you to use a US gift card in India, and things like that.

Also, once again I heard do not know, a lot do come from people that are a lot come from the Amazon Mechanical Turk program. https://www.mturk.com/

Either way it purse.io has been fine for me and a bunch of people I know.

-Dave

Not sure if there's been a discussion on this before but I'm not sure how trusted the funds credited to this exchange are (particularly with savings above 16%).

There's obviously a chance a lot of these savings are made via various prizes that can be won in the general computing sense (such as hackathons) where people are fine trading in vouchers below their value and cases where amazon marks up things especially high that there are some places that sell them for a lot cheaper (particularly if a company chooses to sell something at cost because it encourages people to buy more from them or if a company has an exclusive agreement - a catalog company in the UK sold a lot of electronic products at a 25% drawdown from most places at one time: I think they worked out how to do efficient tests to check the devices worked or had some arrangement to be a logistics facilitator for everyone else or something).

Anyway, I know amazon offers a 17% discount on vouchers if you buy more than £/$50 worth so perhaps there's a chance they give higher discounts for other things too and that means a 15% saving is just using someone else to facilitate that deal (ie if you buy something for $160, you're not left with $20 to waste on something you might not use).

But considering voucher balance lasts 10 years, are you safer converting crypto to cash and buying things yourself or is there no additional safety about it considering you're using an imported wishlist and the site is probably known to amazon anyway?