Can you explain? You mean he buys his own products? But wheres the profit then if he has to buy the gift cards first?
Yes, he makes a listing for a product worth of $20k and buys it with another account.
People generally don't sell BTC for Amazon GC at spot price since it's a high risk payment method. You'd have to buy those cards at least 20-30% cheaper to be profitable (Amazon fees are very high!)
Yes, amazon has high fees. Thats why i wonder how he can be sure to make a profit. I mean i checked out things on that topic too because it seems amazon gift codes are widely used as cash replacement in some countries. Thats why it happens that gift codes are sold for lower than they are worth.
Though the problem is the possibility to claim a sold code stolen. I dont see a security against it. Some suggest physical codes but still... i think thats very risky.
If he really trades with 20k worth of gift codes then he might be really at risk at some point. For example he got codes that were bought with carded cc's. he will lose them. Or the seller makes a chargeback claiming it wasnt authorized to buy the code with his card.
Either risk or he has a way to protect against? Is there a way to protect?
Since it matches the topic... purse.io allowes spending gift codes to buy bitcoins and buying amazon items with bitcoins with discounts. Because for those trades often gift codes are used.
Still... i already got one trade where two items were charged back. At least purse refunded.
I dont understand purse on that point. they started this without thinking it would be needed to verify buyers? Thats simply an invitation to carders. and i would think for a company rasing half a million usd of investment funds, that at least one investor would have been so smart to think about that. They now even closed a whole countries amazon because of problems.
