Purse.io is truly a unique platform that offers large discounts on virtually any product for their buyers and, allows sellers exchange products for Bitcoin with only a 1% service fee which is much lower compared to eBay, Amazon and Etsy.
As of April, 2020 Purse made an announcement on its page that it is shutting down.
Purse.io is an online marketplace that launched their business in 2016. The Bitcoin based marketplace wanted to allow vendors to easily connect with a wide range of buyers. The company also received backing from some of the largest names in Bitcoin including the Digital Currency Group, Roger Ver and Bobby Lee.
There are no restrictions as to what can go on sale on Purse and as such allows for a number of different items to be listed. Purse also makes sure to carefully curate all the listings. Many who are familiar with the Etsy arts / crafts marketplace can easily relate with the current vendor market on Purse. Purse will charge the vendors a 1% fee for all the sales.
Sale curation is an important aspect of the Purse’s operation as it can avoid any situations where users are attempting to sell questionable goods.
Purse.io takes a different approach, it allows you to purchase items directly off of Amazon, and gives you 5% off immediately for your trouble, or more if you are willing to wait for another user to pick up your order.
It isn’t quite as simple as that on the back end. Specifically, buyers tell Purse what they want and put the appropriate amount of bitcoin into escrow and then either Purse or another seller purchases that item for the buyer and sends it to their address. Once the items are received, the buyer releases the escrow and the transaction is completed, 5% or more is saved by the buyer and if it is available on the item, Amazon Prime shipping is usually included to boot.
Depending on the size of your purchase, Purse.io can save a lot of money, especially if you don’t have an Amazon Prime account. But is the experience of using Purse.io as good as it could be? That is what I’d like to explore here, with this Purse.io Review, because I think that is one area where they have a lot of room for improvement.
First, what a quick word on how Purse.io actually works: You can import an entire Wishlist or paste a item URL in the Purse.io search box and it should pop up. I say should, because it fails if Amazon has added some text to the URL because I looked at pictures or read reviews. It seems like it would be a trivial fix to have the search bar automatically truncate those URLs and find the intended item, but that doesn’t appear to be the case.
In addition to buying things from Amazon, you can purchase items directly from Purse.io merchants. However, while it is consistently growing, the selection is rather bare at this time, focusing on bitcoin products and a smattering of tech gadgets.
That said, it is still relatively simple to import an item you want from Amazon to Purse. However, while it is simple, it also seems like an unnecessary step. Why can’t I search and browse Amazon items directly on Purse? As mentioned, there is a search bar, but it isn’t as effective as Amazon’s. For an example, a search for “Xiaomi” brings up 20 pages of products on Amazon.com but only 11 total products on Purse.io.
- Country: United States
- Headquarter: San Francisco
- Type: Financial Services
- Round: Seed
- Cost: $0.3 million
- Date: 27-Nov-2014
- Investors: Roger Ver, Bobby Lee, Terrence Yang, FundersClub, StrongVC
See Also on BitcoinWiki
- https://www.coinbureau.com/review/using-bitcoin-buy-products-amazon-purse-io/ Purse.io – Review, Buy for Bitcoin
- https://coinjournal.net/purse-io-review/ Review of Purse.io and Amazon