Led 24

2.3 Billion People Can Now Use Bitcoin on Amazon

· January 24, 2017 · 7:00 am

Almost 2.3 Billion people can now shop on Amazon without a computer or a bank account following Purse.io’s Android app launch. 


Shopping with Bitcoin on Amazon Now Available to 2.3 Billion

Following the launch of its iOS app, Purse.io has now released the Android version for its platform, enabling billions to shop on Amazon with Bitcoin on the most popular smartphone operating system with over 1.4 billion users globally.

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With both operating systems supported, the number of people globally that can now use this service is now around 2.3 billion and expected to reach 2.8 billion by 2020, according to Statista. 

Purse announced:

We’re excited to formally announce the arrival of our official Purse Android app! We released our iOS app back in November […]. So, of course had to spread the love to the largest and most widely used mobile operating system in the world, Android.

Although the online retail giant does not accept Bitcoin directly, Purse.io matches buyers with gift card holders creating an extremely powerful use-case: online shopping. Furthermore, it enables those who don’t have a bank account or credit card to use the Amazon e-commerce platform, even if they don’t have a computer. The service also lets merchants register their Purse account and sell directly on the platform.

Needless to say, all items from Amazon that are purchased on Purse.io are cheaper than the ones listed on Amazon itself. Not only because of Bitcoin’s smaller transaction fees but also because it provides a gift card/bitcoin exchange market as well as significant discounts

How does Purse.io work?

Sellers can create a free or paid account on Purse.io and list their items for sale. Once a purchase takes place, Purse.io will act as an escrow until the transaction is complete. The Purse system allows merchants and buyers (depending on the payment system) to save a lot on transaction and conversion fees.

However, the most ingenious feature in Purse.io is its Amazon alternative. Purse.io matches shoppers buyers with gift card holders. Since gift cards are usually unredeemable, this creates an alternative for those that don’t want to use their gift cards.

purse instant

Then, the shopper can select a product he wants from Amazon, create a wishlist for it on Purse.io and name his discount or accept the one available. Gift card holders will then take the order and use the gift card to purchase the item. The gift card holder receives Bitcoin for the card he could not redeem previously and the buyer receives the item, creating a win-win environment.

This means that if you have extra gift cards you don’t want, you can also take advantage of the Purse.io system to exchange them for Bitcoin at a discount.

Bitcoin & Amazon

Despite third-party services like Purse.io, Amazon still does not accept Bitcoin as a payment method. There are a few evident motives as to why Amazon has yet to integrate Bitcoin into its e-commerce platform, including volatility and the lack of refund options for Bitcoin. 

However, online retailers like Overstock.com and Newegg.com have demonstrated that Bitcoin can be used as a viable payment system, while OpenBazaar has even built a decentralized e-commerce platform that accepts only Bitcoin and other cryptocurrencies as payment.

Some speculate that Amazon already has deals in place with major credit card companies, an advantage it would lose over smaller online retailers if they start dealing with Bitcoin. Another theory is that Amazon CEO Jeff Bezos does not like Bitcoin due to his political views on the unregulated and anonymous nature of Bitcoin.

In 2014, Amazon stated that it would not accept Bitcoin due to the lack of interest from customers, which it still could in the future if Bitcoin’s user-base grows. But if the e-commerce giant, which comprises about 15% of total U.S. consumer online sales, according to the company’s statements and the Department of Commerce, begins to accept it, then we can safely say that Bitcoin has finally become mainstream.

Will Purse.io push adoption forward? Will Amazon ever add Bitcoin to its list of accepted payment systems? Share your thoughts below!


Images courtesy of ShutterStock, amazon.com, Purse.io, Statista

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Led 12

Here Are Some More Creative Ways of Using Bitcoin in 2017

· January 12, 2017 · 5:00 am

We’re seeing a lot of new ways of using your Bitcoin, some more creative than others. In this article, we are going to take a closer look at how all of those Bitcoins you have accumulated can be used to get anything from the latest gadgets to more discounts and special offers.


Bitcoin recently reached a new all-time high by crossing over the $1,000 mark. Those who were skeptical about the future of Bitcoin and other cryptocurrencies are now far more confident about the future. But for many, Bitcoin is already the go-to currency used to make everyday purchases of all kinds.

Bitcoin for Businesses

One of the most interesting developments is how businesses started using Bitcoin as part of their operations. When sending micro-remittance to various recipients, Bitcoin works better than conventional remittance options from banks and financial institutions.

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Bitcoin is far cheaper than existing alternatives. Businesses no longer have to worry about exchange rate differences and bank fees when sending money to vendors and contractors overseas. The fact that Bitcoin can be cashed in just as quickly in almost every country in the world means it is a viable payment solution many more businesses will use in 2017.

There are also Bitcoin apps and services that specialize in sending and receiving money. Luno, for example, is an app that allows individuals and businesses to manage their Bitcoin accounts, including making cash withdrawals to local bank accounts in most Asian and African countries. Other services are just as easily accessible.

Pay Your Bills

Another interesting way of using Bitcoin is for paying bills. Yes, your monthly bills can now be paid using Bitcoin, either through an intermediary service or directly to the recipient. You may find that some loans, including NJ home equity loans, can also be repaid using Bitcoin.

The use of Bitcoin to pay bills means you also don’t have to pay bank charges and other fees. There are services that will help manage and automate your bill payment using Bitcoin as a payment method. Once you have entered all of your regular bills and how much need to be paid, the service will deduct the right number of Bitcoins from your wallet automatically.

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It will still be a few years before Bitcoin is more commonly used this way, but those who are making the switch this year are pioneers nonetheless. It will be interesting to see more of these expenses added to the list of things you can pay for using Bitcoin.

Hold On to It

The new administration was one of the reasons why Bitcoin reached its $1,000 milestone again after a couple of years. Many believe that holding on to some Bitcoins is actually a good investment to make, especially with a lot of economic uncertainty on the horizon.

BitGo

Keep in mind that Bitcoin is not yet considered to be a reliable investment instrument since its value can be quite volatile, which means you can’t really rely on the cryptocurrency as a way of maintaining your wealth.

Nevertheless, holding on to some Bitcoins and keeping a positive balance in your wallet is a great idea to try, especially this year. Many expect the value of Bitcoin to rise further over the coming months. Market changes have the potential to push the rise even further than many can anticipate, which means those with Bitcoins in their wallets will be the ones enjoying the biggest advantage.

Shop at Amazon for Less

There is one particular service that every Bitcoin user must definitely try, and that is Purse.io. The site is basically an exchange site that allows Amazon and Bitcoin users to meet. What the site does is let users sell their Amazon credits in exchange for Bitcoins.

purseio-bitcoinist

There is no definite exchange value that everyone uses. The exchange rate fluctuates based on market balance and other factors. You can save up to around 20% on your Amazon purchases when you use credits sold on this site.

Services such as Purse.io are also expanding their operations further. Soon, you won’t only be able to exchange Bitcoin with Amazon credits, but also with other credits for online shopping. There are even online stores and marketplaces that accept Bitcoin directly.

There is no doubt that 2017 will be an interesting year for Bitcoin. The market will continue to bloom and more ways to use the Bitcoins you have in your wallet means more ways to benefit from the cryptocurrency.

Do you have your own ways of using Bitcoin? Be sure to leave your stories in the comments section below.


Images courtesy of Shutterstock, Purse.io

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Kvě 17

Pre-Order With Bitcoin Using Purse Pre

Source: bitcoin

Purse

The Bitcoin-based marketplace that has connected the community with discounts at Amazon for using cryptocurrency has just announced the launch Purse Pre. This new Purse Pre market will allow Bitcoin users to place pre-orders on goods and trust they will receive the product or get their digital currency back.

Also read: Bitcoin Is The Original DAO

Bitcoin Marketplace Guarantees Pre-Ordered Products With Purse Pre

The San Francisco-based company says Purse Pre will enable pre-orders with Bitcoin and “ensuring  orders are either perfectly fulfilled or customers get all their money back.” Pre-ordering on the worldwide web is great but at times, customers never receive the goods they ordered. Platforms such as Kickstarter, Indiegogo, and from a company’s own website fail to send items more 60% of the time. Kickstarter alone has an alarming rate of over 87% never receiving a refund. Just last week Paypal explained it would stop insuring crowdfunding failure this summer. Purse wants to put an end to the pre-order madness and offer a more secure solution. During the launch announcement Purse CEO Andrew Lee explains the platform’s objectives saying:   

“Purse Pre is the ultimate place to pre-order the hottest products available. With Purse Pre, you can purchase multiple pre-order items at the same time and in a safe way. Purse’s blockchain technology securely escrows bitcoin to ensure that your money is only released when your items arrive or if you decide to cancel an order. We are excited to bring Purse Pre to consumers around the world and to the community of entrepreneurs on Kickstarter and Indiegogo.”   

Purse CEO Andrew Lee

Purse Pre will use its secure escrow system to safeguard consumer funds until the product ships. The service allows customers to monitor “the production status” and users can cancel at any time before shipment to get a full refund. So far the Purse system has saved customers more than $600,000 in discounts and all purchases are secured with blockchain escrows. Purse Pre will be no different but will apply to the pre-order ecosystem with companies like Indiegogo and Kickstarter.

The marketplace Purse tells us that on launch day the pre-order marketplace will feature “over 80 hand-selected, pioneering gadgets” which include Lily the throw-and-shoot camera, the June Oven, BuzzClip the wearable for the blind, Nebia the sauna-like shower, Trunkster the advanced luggage and so much more. Purse says no other marketplace will have this broad range of pre-order goods and back the purchases by blockchain technology. The company states:

“Purse Pre finally allows consumers to purchase the most popular pre-orders from a single website while using Bitcoin.”  

The company is excited to bring this level of pre-ordered goods to a Bitcoin marketplace and believe they are raising the bar with this additional feature. The company claims to process $1 million USD a month in Bitcoin sales and says it’s only getting started. The firm’s mission is to “make global commerce easier and fairer through blockchain technology.” With its popularity, the startup has attracted investors such as TA Ventures, the Digital Currency Group and more with the hope it will expand the company’s mission vastly.

What do you think about the Purse Pre marketplace? Let us know in the comments below.


Images Via Purse Websites and Crypto-Graphics

 

The post Pre-Order With Bitcoin Using Purse Pre appeared first on Bitcoinist.net.

Pre-Order With Bitcoin Using Purse Pre

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Úno 16

Bitcoin Liquidity: Why Are we so Stingy?

Source: bitcoin

Liquidity

The problem I am observing lately is that there are many different markets by which I can earn bitcoin, yet there aren’t many who are willing to spend their bitcoin in these markets so it’s sometimes a desert for opportunities (I can find you a developer in “X” with less than 5 minutes of effort; try doing the reverse and finding that same said developer some work involving “X” for bitcoin; good luck).  It’s a shame because Bitcoin could bring much success to the world by engaging in and fostering liquidity markets for wealth distribution so that the common competent web worker may earn a reasonable income through the production of his or her goods and services (and not be subjected to sub $1 per hour wage levels.)  

Also Read: Bitcoin in Business: Risk Management

The Importance of Liquidity in any Market

Bitcoin Earning Landscape for the Many markets

What is a liquidity market?  I would say it is the value represented by the earning potential that a person can prospectively earn within any given marketplace – We see the reverse so often in real life as stores or even salesmen – a collection of goods or services grouped together so that we can spend less time moving and more time shopping around, accruing goods…why do you think they do this?  It’s obvious that they see pools of individuals with purchasing power as ‘liquidity markets’.  With the dawn of the digital age, we have seen a transition to an online marketplace ecosystem instead of shopping across town for non-consumable articles such as clothing or electronics or jewelry.  When was the last time you did shopping on amazon?  Now ask when did you last purchase the thing you bought on Amazon in a local store?  See how long ago it has been in most cases?  The internet itself is the liquidity market for vendors, but it seems to not be the case for Bitcoin oriented entrepreneurs who would rather spend fiat.  

Within peer to peer systems there are always means to see how strong the stream (Quality) is so you can make the value judgement of whether or not your time is worthwhile to invest in procuring said digital resource.  Think of seeds vs leeches in torrents.  Yet as I stated earlier, the market is oversaturated with sellers, but not buyers.  So we have a terrible ratio of too few earning opportunities despite the large level of markets available to earn from.  I’ve mentioned myself the lures of jobs4bitcoin, satoshibox, honeybadgr, angel-list and yet it’s still somewhat barren for earning income (for the average less than ample skills employee).  Those opportunities work well for the hiring manager but do not bode well for the end-worker looking to earn a digital wage in the 21st century (compared to the likes of upwork).  

Part of the problem I believe comes from a lack of transparency for how many users may be engaged within any given network.  I’m sure this is a problem far reaching and beyond the realm of cryptocurrency – and yet its intensified here due to the common ‘hoarding’ nature of bitcoin users.  Who want’s to be holding the bag on a 10 million dollar pizza or 20 Million dollar home (that you paid $250K for worth of BTC that one time in 2016.)  The level of fear of not wanting to lose future value is what causes the ‘Hodl!!!’ call.  Though, I have a proposed solution – we should create block explorers or data aggregators for all the potential markets – give a way for an outsider to quickly observe whether or not a market for earning exists for them!

Maybe that sounds crazy or un-necessary?  I disagree, for these reasons: Bitcoin exchanges seem to work well because their potential liquidity is transparent – traders can learn or at least observe if there are buying or selling opportunities available.  Bitcoin services need show this ‘liquidity’  so that participants know whether or not they are wasting time using their service.  Bitcoin based opportunities are often eschewed by the idea then forgotten, if we had a track record of how the various powered by bitcoin services proliferated, we could better gage how the technology is utilized by the masses and use this information to improve the technology further.

I felt the consequences of wasting time blindly wondering if it was even worthwhile through using services such as Lighthouse, JoinMarket, Drop Zone, Streamium, and Open Bazaar.   I think that both Dropzone and Joinmarket have Live Orderbook features available (a type of block or transactions explorer…again..that would work fabulously for these various bitcoin-powered™ alternate to fiat service markets – for instance Purse.io shows a liquidity market whenever you attempt to earn BTC – when you use their service as they intended, you are indirectly creating a liquidity market for BTC. Why can’t the various liquidity markets show the statistics of providers to buyers? One immediate example that comes to mind is the jobs4bitcoins market. It is more often than not filled with sellers of services rather than with users in the market looking for services to be completed. The ratio to earn vs spend is missing and should be filled in.  

Sea of yellow means an Oversaturation of Services for hire

I’ve had my own custom search for bitcoin setup for years now but even that has an equal draw of strictly localized and false/scam level resources. I’m afraid that what we’re having are desert markets where many different people offer an exchange of goods and services for coin but not many buyers aren’t in the market spending coin as opposed to fiat.  Not so much for lack of traditional alternatives available so much as that the greater market offers far more opportunities than purely BTC does at this time, particularly because the community has been more apt to save than to spend.  

This is the incorrect mentality if you earn a full time income – you should spend your BTC as you would have spent the cash and use the cash to replenish the BTC (especially if you are able to replace a necessity such as filters, clothing, heating, or consumables).  Use your standard income to replenish your BTC supply and spend it often (for this is  currency to be distributed, not simply held).  As you become more familiar with usage, it’s also easier to discuss the pros and cons and experiences with others.  I’ve had my fair share of experience with different wallets but don’t know how to best convey holders of bitcoin to become recyclers of bitcoin to allow the community to flourish.  Hopefully me drawing attention to this helps.  

Do you shop online with BTC?  Where do you think we need improvements in what we can buy with BTC? Let us know in the comments below!

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Bitcoin Liquidity: Why Are we so Stingy?

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Led 13

I Use Bitcoin To Save Money

Source: bitcoin

I Use Bitcoin To Save Money

There’s a new website on the crypto-block that was created to show real people who save money using Bitcoin. The digital currency has quite a bit of great attributes like decentralization, an open source code, and being the first true peer-to-peer money worldwide. Another pretty cool aspect about Bitcoin is certain applications can also save people money literally every day. So Thomas Hunt host of Mad Bitcoin’s created this site and video to create excitement for these money saving features. Here’s what he told Bitcoinist:

“I made this video because I want people to know how much money they could save by using Bitcoin. If you like saving money, you should be into Bitcoin.” — Thomas Hunt, Mad Bitcoins

Also read: Peter Todd Double Spends on Coinbase

iusebitcointosavemoney.com has gathered together some of the creative innovators, executives, and enthusiasts in the digital currency industry to tell people about Bitcoin savings. Applications such as Fold, Airbitz, PurseGyft, and others save people money every day by using the virtual money. Savings can be upwards of 20% when purchasing using these platforms. These community members appearing in the short video want the public to be aware of this especially with a looming recession ahead of us.

So employees of Airbitz, Purse, Fold, Gyft and an array of other guests have partnered up with the Mad Bitcoin’s host to make this video and website. Some of the members of the community that joined forces to record the short film include Barry Silbert and associates from the Digital Currency Group (DGC). Other industry movers and shakers including Brock Pierce, Roger Ver, Will Pangman, MK Lords, Blake Anderson, Jason King, and much more join in. Also, Readers here at the Bitcoinist are encouraged to submit a 30-second video of you saying the same testimony:

“I Use Bitcoin To Save Money” 

Bitcoin encourages saving money and a different paradigm of the way we operate with mediums of exchange. Existing methods of centralized services and its tethered fiat money hasn’t been working out too well for the people of this world. The decentralized currency was designed to help battle this manipulation and corruption by deploying a system of transparency and peer-to-peer exchange. When people figure out, they can also save significant sums of money using the currency and see percentages deducted off their daily spending this will add more incentive to use Bitcoin.

The team members of Purse, Airbitz, Fold, Gyft, The World Crypto Network, DGC, Blockchain Capital and their friends want the world to know these applications already exist. You can save right now up to 20% using a platform like Purse on Amazon and save a few bucks a week at Starbucks using the AirBitz wallet. After a while, these savings will be something you become accustomed to, and you too will also want to inform your friends and family. So if you’d like to participate in this websites video and would like to shout to the world that you “Save Money Using Bitcoin” then head on over to iusebitcointosavemoney.com today!

Do you save money using Bitcoin? Let us know in the comments below. 

Editor’s Note: The guests mentioned in the above article may not appear in the first half of this video but will be added today at some point. Guest submissions will also be reviewed and added as they come in. 


Images courtesy of crypto-graphics.com, Twitter, and Pixbay

 

The post I Use Bitcoin To Save Money appeared first on Bitcoinist.net.

I Use Bitcoin To Save Money

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