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What is Purse and How Does it Work?

Purse is an online marketplace that enables anyone to buy items listed on Amazon by paying with Bitcoin and receiving a discount you select yourself. Our main product offering, Name Your Discount, lets shoppers add items to their cart, name a discount and pay with cryptocurrencies.



Purse.io: The Two Players

Purse is an online P2P marketplace that enables crypto enthusiasts to either:

1. Shop and use Bitcoin/Bitcoin Cash to get an Amazon Discount

OR

2. Earn Bitcoin/Bitcoin Cash by selling Amazon gift cards to Shoppers on Purse

Purse provides the platform for this exchange and benefits by getting a small fee from the purchase.



Amazon Discounts

Our main product is called 'Name Your Discount', and it's exactly that, you name how much discount you want to receive on your order.

“Name Your Discount”

Choose a discount of 5–33%, then you will be matched with an Earner who fulfills your order. Select 15% or less discount and your order will be offered to VIP earners (with Prime) for the first 24 hours.

Purse Fees

Purse charges a fee for “Name Your Discount” orders based on the set discount. Purse will always display the fee that applies to your order. See below for the fee schedule.



Delivery Time and Tracking Procedure

How do you get your tracking information and how long can you expect to wait for your Amazon Discount orders?

“Name Your Discount” delivery time consists of the time it takes for the Earner to pick up your order (fulfillment time) and the time it takes to deliver it. Fulfillment time can depend on the discount rate, order value, and crypto marketplace.

Pro tip: If you want the biggest Amazon discount and you’re willing to wait several days for your order, choose a discount of 20–25% off.



Tracking

We will provide a tracking number as soon as the order is shipped. Please note that some low-value Amazon orders might ship without a tracking number, this is rare but it can happen.

Shopping on Purse: The Complete Process of How to Make Transactions



Step 1: Import Your Wishlist

Either select your items directly on Purse.io or select your items on Amazon.com and import your public wishlist.

Step 2: Select Your Amazon Discount

Navigate to your shopping cart

You can choose any discount you want from 5 to 33%



Step 3: Select Your Shipping Options

Provide the address where you’d like your item to be shipped.



Step 4: Review Your Order, Shipping Information, and Payment Information

Step 5: Select Your Payment Options

Don’t have cryptocurrency yet? Click here to learn how to buy it!
If you already have enough cryptocurrency in your Purse wallet to cover the order this step will be skipped and your order will be placed. You can set your preferred coin to spend first on your account page.
Otherwise, press “Continue” to the next page where we request that you send your BTC or BCH to your hosted Purse Wallet.



After arriving, the funds for your order will be held in escrow and your order will be listed on the Purse order book for an Earner to pick up.
Additionally, you can make purchases with other digital assets besides BTC and BCH using the Purse ShapeShift integration.
Please note that you cannot pay for an order with two different currencies at the same time. You can only use one per order. If you have both Bitcoin and Bitcoin Cash in your Purse wallet, you can choose which one to spend by default.



Step 6: An Earner Accepts Your Order

Once an Earner accepts your order, they will place the order with Amazon and inform Purse of the order ID.

Step 7: Order Tracking

Your order will be updated with the relevant shipping information as soon as Purse gets confirmation from an Earner. Purse will let you know once your order has a tracking number, is sent, and delivered to the address you selected in the checkout process.

Step 8: Receive Your Amazon Item in the Mail

You just used crypto to get an Amazon discount. Say Whaaat?!
Make sure to confirm your package as soon as it arrives so the Earner who fulfilled your order can be paid promptly.

Possible Complications

Long Shipping Times

If the Shopper selects an item with a long shipping time, it may prompt Earners to cancel the order. If the order is cancelled, it will be sent back to the Purse order book for the next Earner to pick up.

To ensure the fastest shipping, only order items that are currently in stock and be sure to note the estimated delivery time that’s listed for that item. It is most ideal to select items with a 5–7 day shipping time or less. Please note that Purse doesn't support Amazon lockers. That's because Amazon doesn't let you ship to a Locker using a Wish List (which is what Purse uses to fulfill orders). 

High Amazon Discount Rates

If the Shopper places an order with a request for a high Amazon discount amount (more than 18–22%), the Shopper will need an Earner to accept that Amazon discount. There is a high likelihood that most Earners will be hesitant to fulfill a high Amazon discount order because they will be accepting payment at a lower rate.

For example, an item with a desired discount rate of 25-33% may take a couple of weeks to be picked up by an Earner. (But… imagine the savings!)

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