Topic: Where do LocalBitcoins.com buyers of Amazon Gift Cards sell same cards? (Read 1790 times)

Do they trade amazon gift cards too? I thought they are for cryptocurrencies only.


The topic that i might buy vouchers myself and buy with them on the amazon websites.

While investigating i found this topic. http://www.sythe.org/14118510-post10.html One user claims that the risk only exists with digital ones. e-giftcards. And that its not possible to charge back with physical ones. Though i wonder if thats true if the card was bought with a carded CC or a user makes simply a credit card chargeback.

And this user http://www.sythe.org/14212800-post20.html claims he has special ways to deal with such cases which arent available to normal users. I wonder what they does.

By the way... they all have great signatures. I wished signatures on this forum would be that great.

That's why I can't trust services like coin.mx

That does sound like a genius idea, but the risk of buying a carded gift card, and the large fees that amazon charges would make it worthless, unless the product is of high value.

Yup,  it's possible to make about a 10% profit by using the amazon sellers account,maybe even more especially if your dealing in bulk gift cards of 20k

Which topic?

Yeah, this whole thing is... high risk.

Ill just leave this here.

Last week my father in law had a replacement debit card sent to him (not a new one).  Apparently they are sent live and require no activation.  Someone got ahold of the card in the mail and starting spending it and made quite a bit of trips to Rite-Aid.  A lot of money was spent (looked to be $100 purchases which I believe to be giftcards).  This past weekend my sister in law had went to the store in question and asked about the purchases and how they could of happened and guess what?  Rite-Aid policy is not to check the ID apparently (this came from the store manager). 

Yes, amazon has high fees. Thats why i wonder how he can be sure to make a profit. I mean i checked out things on that topic too because it seems amazon gift codes are widely used as cash replacement in some countries. Thats why it happens that gift codes are sold for lower than they are worth.

Though the problem is the possibility to claim a sold code stolen. I dont see a security against it. Some suggest physical codes but still... i think thats very risky.

If he really trades with 20k worth of gift codes then he might be really at risk at some point. For example he got codes that were bought with carded cc's. he will lose them. Or the seller makes a chargeback claiming it wasnt authorized to buy the code with his card.

Either risk or he has a way to protect against? Is there a way to protect?

Since it matches the topic... purse.io allowes spending gift codes to buy bitcoins and buying amazon items with bitcoins with discounts. Because for those trades often gift codes are used.

Still... i already got one trade where two items were charged back. At least purse refunded.

I dont understand purse on that point. they started this without thinking it would be needed to verify buyers? Thats simply an invitation to carders. and i would think for a company rasing half a million usd of investment funds, that at least one investor would have been so smart to think about that. They now even closed a whole countries amazon because of problems. 

OK. Let's assume I have 20k worth of totally legit Amazon Gift Cards (which I don't have, unfortunately). On LocalBitcoins.com I can get - roughly - 13-14k worth of bitcoins for it, but if I open an Amazon Seller account, I can convert them to 20k in cash? Easy as that?

Or, what are the steps -and possible precautions - to take? Anything to look for? Possibly I need multiple Amazon (Seller) accounts (as well)?

Better to write it here on the public forum for the benefit of all.

Some people have businesses that ship Amazon products to other countries where it's not readily available. For the US, Canada, ect, Amazon is easy to access and has a wide category. Others in foreign countries purchase US Amazon cards to have access to all the products and have it shipped to their own countries. This is one way someone might possibly utilize thousands in Amazon, but 20k seems far fetched.


Perhaps he gets a discount on the cards he buys as he purchases in great bulk.

Can you explain? You mean he buys his own products? But wheres the profit then if he has to buy the gift cards first?

Clever.

Say, current bitcoin market price is $225.

You can buy 1 bitcoin for $300 worth of Amazon Gift Cards on LocalBitcoins.com. One seller wrote in the description he needs 20k worth of Amazon Gift Cards per day! What's the business here? Where he might sell those cards?