How to Save $1000s on Amazon Purchases Using Bitcoin

bitcoin how-to Dec 14, 2022

So, you wanna know how to use Bitcoin to save $1000s on you Amazon purchases? Yeah, we thought so, that's why we wrote this post! According to Google the average American household spends over $1500 on Amazon every year. That's a lot of cat litter! So, we're going to teach you how to save up to 50% on Amazon using Paxful.com and Bitcoin, step-by-step. We'll also take a look at the advantages of using Paxful.com, their security measures, fees, customer support, and reviews. Ready? Let’s get started!

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What is Paxful.com?

Paxful.com is a peer-to-peer (P2P) cryptocurrency marketplace that allows users to buy and sell Bitcoin and other cryptocurrencies without the need for a centralized exchange. The platform was founded in 2015 by Ray Youssef and Artur Schaback and is headquartered in New York City. Paxful serves more than 4 million users from over 200 countries and offers over 300 different payment methods.

The platform provides users with a secure, user-friendly experience that supports over 300 different payment methods, including credit cards, bank transfers, gift cards, and more.

Paxful offers a variety of features, including instant buy and sell options, a built-in escrow system to ensure secure transactions, and a live chat feature that allows buyers and sellers to communicate with each other in real-time. The platform also provides its users with an easy-to-use wallet system that makes it easy to store, send, and receive Bitcoin and other cryptocurrencies.

Advantages of Using Paxful.com

With Paxful.com, users can take advantage of a variety of benefits, including:

Low Fees: Paxful.com charges a nominal fee of 1% for each transaction.
Security: All transactions on Paxful.com are secured by a built-in escrow system.
Wide Selection: Paxful.com offers users access to over 300 different payment methods.
Customer Support: Paxful.com offers 24/7 customer support to help users with any issues they may have.
Variety of Currencies: Paxful.com allows users to buy and sell Bitcoin and other cryptocurrencies, including Ethereum, USDT, and USDC.

Paxful.com Security Measures

Paxful.com takes security seriously and has implemented several measures to ensure the safety of its users’ funds and personal information. These measures include:

Two-Factor Authentication: Paxful.com requires users to enable two-factor authentication before they can access their accounts.
Encrypted Wallets: All transactions are stored in encrypted wallets to protect users’ funds from hackers.
Built-in Escrow System: All transactions are secured by a built-in escrow system to ensure that buyers and sellers can securely complete transactions.
KYC/AML Verification: Paxful.com requires users to verify their identity before they can buy or sell Bitcoin and other cryptocurrencies.

Paxful.com Reviews and Customer Support

Paxful.com has earned a reputation as a reliable and trusted P2P cryptocurrency marketplace. The platform has an overall rating of 4.5 stars out of 5 on Trustpilot, with users praising its ease of use, customer service, and security measures.

The platform offers 24/7 customer support to help users with any issues they may have. The customer support team can be reached by email, live chat, or telephone.

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Amazon Savings Step-by-Step Guide

Using Paxful.com is simple and straightforward. Here’s a step-by-step guide on how to use the platform to save money on your Amazon purchases.

Step 1: Create an Account

First, you’ll need to create an account on Paxful.com. To do so, simply visit the website and click “Register."

Next, you'll need to enter your email address, username, and password.

Step 2: Verify Your Email

Once you’ve created an account, you’ll need to verify your email. Simply input the code they sent you into this box.

Next, you'll need to KYC (Know Your Customer) the account. You can do this by submitting your personal information and uploading a valid ID. Click the "verify me" link.

Next, you'll be taken to this screen where you can do the following:

Verify the account with your phone number.
Change your username and set a profile picture.
Set security questions and answers, in case you forget your username and password.
Write a short bio for your account.
Choose the type of notifications you'd like to receive from Paxful.

Step 3: Upgrade your account privileges

Once you've verified your email and selected your account preferences you will be asked to submit identity and residential address verification documents. If you want to get the most out Paxful, then you'll need to complete this step!

You'll also want to secure your account information by completing the 2-factor authentication process. You don't have to complete this step, but we highly recommend that you do!

Step 4: Add Funds

Once your account is verified, you’ll need to add funds. You can do this by clicking the "Wallet" link and then "Receive" link. In this guide we are using Bitcoin, so we'll highlight that option.

Next, you'll be asked to send the Bitcoin to an address that is connected to your Paxful account. Make sure you send to the exact address you're shown on this screen or you will lose that Bitcoin!

Step 4: Create an Amazon Gift Card Offer

Once you’ve added funds, you will create your first offer. This is how you will save money on your Amazon purchases! To do so, simply click on the "Dashboard" link, then "My Offers" on the left-side navigation menu. Finally, click the "Create New Offer" button.

Then, you'll perform the following steps:

Choose Bitcoin as your cryptocurrency.
Select "Sell Bitcoin" option.
Type "amazon" on the payment method search bar.
Select "Amazon Gift Card" option.
Click "Next Step."

Next, you will perform the following steps:

Select either "Market Price" or "Fixed Price." If you use Paxful often, we suggest selecting market price for your offers.
Select the trade limits. Here, you decide what denominations of Amazon gift cards you want to accept. This depends on how much Bitcoin you're trying to sell. Since we are selling less than $100 worth of Bitcoin in this example, we will select limits between $10-$50. (Pro tip: use round numbers for trade limits).
Select the offer margin. This is where the SAVINGS come from. What we are doing is buying Amazon gift card at a DISCOUNT. So, how much money you will save on your purchases depends on the offer margin you select here. It is possible to get up to 50% savings using Paxful, but it will depend on the market conditions. If you wanna buy the gift cards quickly select between 20-35% margin.
Select the offer time limit. 30 minutes is what almost everyone uses.
Before you go to the next step, you'll notice Paxful will take 4% from every gift card you purchase. So, even though we selected 20% margin for our offer, the actual saving will be 16%. This is something to keep in mind when you're selecting the offer margin.

Then, you will perform the following steps:

Choose your offer tags from drop-down menu..
Create an offer label. Notice our label says "AQ Codes Only." We recommend you do this for your offer, too. "AQ" is a type of gift card code that was genuinely purchased with cash at a store. AQ codes were not bought with stolen debit or credit cards. AQ codes are safe to use on your Amazon account. We have bought $10,000s worth of Amazon products over the years using AQ codes, and there have never been any problems.
Create the offer terms. (Pro tip: keep it short and simple, just like we did here).
Create the trade instructions. Keep this clear and concise.
Require that your trade partner has been verified.
Review your offer's terms and conditions and click "create offer."

Step 5: Wait for a Trade

Once you have created your offer, it will show up on your dashboard. Make sure its turned on, and simply wait for someone to open a trade with you. This part could take as little as 5 minutes, depending on the conditions of your offer.

While you wait, go check out this article on how you can make millions of dollars with cryptocurrency.

Step 6: Complete a Trade

Alright, so when someone wants to trade with you it will show up on your dashboard like in the picture below. Click the "view" button and a chat box will appear where you will complete the trade with your trade partner.

Next, you'll chat with your trade partner and ask them for the Amazon gift card code. Keep it short and sweet, you don't need to spend too much time chatting to complete this step. Here, we are selling $20 worth of Bitcoin in exchange for a $25 Amazon gift card, so we're saving 20%. However, Paxful takes a 4% fee from this transaction, so we are actually saving 16%.

Next, you'll apply the gift card to you Amazon account. If its a good code you will receive a message like the one below.

Then, you'll release the Bitcoin to your trade partner. This is done from inside the chat box by clicking the "Send Bitcoin" button.

Finally, you'll leave feedback on your trade partner. This is important because Paxful is a peer-to-peer marketplace where your reputation determines how much activity your account will have. If no ones trusts you, no one will want to trade with you. Likewise, you won't want to trade with partners that have bad reputations.

Now, get out there and start saving!

We hope this article has helped you understand what Paxful.com is, and how it can help you save money on your Amazon.com purchases. Paxful.com is a secure and user-friendly platform that allows users to buy and sell Bitcoin and other cryptocurrencies with ease. With its low fees, variety of payment methods, and 24/7 customer support, Paxful.com is the perfect platform for anyone looking to buy and sell cryptocurrencies, and save money while doing so! If you’re looking for an easy and secure way to buy and sell Bitcoin and other cryptocurrencies, then Paxful.com is the perfect platform for you. Thanks for reading!