How to Save Money at Amazon with Bitcoin

Save $38 on a $140 Amazon purchase in about 25 minutes ‐ then 18% off every purchase after that!

Hack value: $91/hr

Introduction

Bitcoin is a complicated open source software project, currency, distributed peer-to-peer computational network and open distributed ledger. It sounds really complicated, but for our purposes, it is just a payment platform. Instead of using Visa and paying Amazon directly, you will transfer the money, through the Bitcoin network, to an Amazon giftcard reseller platform. This is a 3-part process, but will save you 16% off every purchase. In addition, there's a $15 sign-up incentive redeemable after a $100 (pre-discount) purchase1. If it were five steps, it would still be worth it. Plus, you'll get items shipped at "Prime" speed without Amazon Prime (yeah, you can save $99/year and cancel your Prime membership). The process shouldn't take very long (less than 15 minutes), but you may have to wait to get verified with Coinbase.

Step 0: Install Google Authenticator app

Step 1: Setup Coinbase Account

  1. Install Google Authenticator mobile app ‐ HELP
  2. Create Coinbase account
  3. Change bank login password - provide new password to Coinbase
  4. Once verified, change your bank login password again
  5. Purchase $100 of bitcoin (nearly $102 with fees)
  6. $10 bonus should instantly credit - balance should be $110
  7. Verify two-factory authentication is enabled. Did you use a six digit code to make your purchase? If not, setup two-factor authentication

Step 2: Setup Purse.io Account

  1. Create Purse account ‐ Follow sign up instructions
  2. Make sure to enable two-factor authentication. Note: Google Authenticator is safer than Authy ‐ HELP
  3. Link your Coinbase and Purse.io accounts ‐ HELP
  4. Transfer bitcoin from Coinbase acccount to Purse.io account ‐ HELP
  5. Log out of Purse and log back in. Do you need a six digit code to login? If not, verify two-factor authentication setup

Step 3: Setup Amazon Wishlist

  1. Create a new wishlist or two on Amazon.com - these will only be used for Purse.io
  2. Naming lists Alpha, Beta, etc can be helpful.
  3. Edit wishlist settings to include your proper name and shipping address
  4. Uncheck "Do not spoil surprises"
  5. c & d must be completed for every list once ‐ HELP

Step 4: Save Money

  1. Detailed instructions for configuring and using Amazon wishlists with Purse: avialable here
  2. Populate wishlist with Amazon Prime shipping items only. Notice 'Ships from Amazon' & checkmark
  3. 'Share' wishlist or just copy and paste URL while viewing wishlist into Purse's searchbar

Why Should I Trust Any of This?

First, most scams want you to send irreversible payments (Western Union, Money Gram) to unknown/unauthenticated sources. The three companies here (Coinbase, Purse, Amazon) are verifiable with the green lock in the location bar and the payment type (ACH bank transfer) is fully reversible in case of any fraud. Second, the company receiving your funds initially, Coinbase, is a reputable company that has received more venture capital money than any other Bitcoin company ($217MM total). It is the most trusted, well-financed company in the Wild West of cryptocurrency and can be safely considered the PayPal of Bitcoin. It has the lowest fees and one of the best reputations. Purse is a Coinbase merchant, fully vetted and verified. Payments to Purse from Coinbase are direct, processed instantly and for free. Rest assured, that although sounding 'too good to be true', this is a 100% legitimate endeavor.

Notes

  1. To get the full sign up incentive, you must buy $100 in BTC from Coinbase. Then, you must make a wishlist with $50 or more and purchase that list using Purse. A $10 incentive will apply to your first purchase of any size. The additional $5 is usuable on any purchase made after your first $50 wishlist purchase. Confused? Make 2 wishlists with $65 of prime items each (approximately). Submit the second wishlist to Purse only after you receive the items from the first list. Excluding state sales tax, you will have paid ~$102 for $140 of items from Amazon.