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Author Topic: Selling Bitcoin on Amazon  (Read 8788 times)
FLHippy
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October 09, 2012, 08:09:28 PM
 #41

I wasn't talking about fixed rates, I was talking about not selling 400 bitcoins in a shot. Keeping it to smalls sales (.5-5 BTC) helps reduce risk. I'm also talking about not selling at all using digital delivery.

Digital delivery is the best way to get scammed.

Switch to paper delivery for the least scam potential. It's still there but it's far easier for them to scam someone else who is offering digital delivery. Scammers, like all predators, prefer easy prey.


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coincollectingenterprises
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October 09, 2012, 08:17:43 PM
 #42

I cant believe no one beat me to it, amazon makes setting up a store fairly easy

Thought about it. Researched it. Amazon has huge fees they charge the seller and VERY high chargeback risk. There is also a lot of fraud using amazon giftcards to make purchases and claim the item never arrived to have the funds reloaded back on the amazon card. Amazon sides almost exclusively withe the buyer like Ebay.

That being said, best of luck to you and I hope you're successful!
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October 09, 2012, 08:33:38 PM
 #43

my question was: what differs fixed rate shops from this guy? why do they not fail?
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October 09, 2012, 09:00:52 PM
 #44

my question was: what differs fixed rate shops from this guy? why do they not fail?

amazon shops pay a monthly fee and get better "closing fees" though not much. And shops can add products to sell on Amazon. There is no actual difference other than that. Frankly, Amazon was a waste of time for my business so I shut down the shop before the trial period ended. Either the market place for copper bars and copper pennies on there is ridiculously small, no one found me, or no one wanted a better price. I never understood why people pay over $10 a pound for shiny .999 copper bars with buffing and shiny stamps on them when you can buy the same exact metal price for under industrial commercial price.
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October 09, 2012, 11:24:10 PM
 #45

I do realize that this is a risky business, and that my profits are very slim.  I do however have a few different methods that I am keeping to myself to track orders and prove that the items were sent to the seller's address.  I am doing this because I know how difficult it is for new people to get started with bitcoins and the run around you get when trying to buy them the first time.

I hope this service proves usefull and safe for both parties

Thanks for my first 4 orders, I believe they are all from members of this forum
FLHippy
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October 09, 2012, 11:51:23 PM
 #46

Please let us know how you make out with your amazon coin sales. I am very interested to hear about it. I use eBay myself.

On a side note, I have never advertised my auctions on the forum. I'm not so sure it's safe to do so.

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BurtW
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October 10, 2012, 05:03:31 AM
 #47

I am happy to report that I got my BTC.  The transaction went as follows:

Code:
Total paid:    15.19
Fees:          -1.06 (7%)
Paid for BTC:  14.13
BTC received:   1.17919

Cost of BTC:   11.9828/BTC

Mt.Gox low:    11.57
Mt.Gox high:   12.35

Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
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October 10, 2012, 05:25:43 AM
 #48

I cant believe no one beat me to it, amazon makes setting up a store fairly easy

You are about to get screwed in the a$$ Smiley


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October 10, 2012, 07:35:04 AM
 #49

I am happy to report that I got my BTC.  The transaction went as follows:

Code:
Total paid:    15.19
Fees:          -1.06 (7%)
Paid for BTC:  14.13
BTC received:   1.17919

Cost of BTC:   11.9828/BTC

Mt.Gox low:    11.57
Mt.Gox high:   12.35

What payment method did you use?

keybase.io/abrkn/key.asc
BurtW
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October 10, 2012, 11:50:20 AM
 #50

I am happy to report that I got my BTC.  The transaction went as follows:

Code:
Total paid:    15.19
Fees:          -1.06 (7%)
Paid for BTC:  14.13
BTC received:   1.17919

Cost of BTC:   11.9828/BTC

Mt.Gox low:    11.57
Mt.Gox high:   12.35

What payment method did you use?
Totally 100% reversible good old-fashioned VISA credit card that I have on my Amazon account.

I am not a scammer so I will not be reversing the charge any time in the next 180 days.

BTW does everyone know that the 180 day chargeback limit is really just a "rule of thumb".

Actually, chargebacks can and do happen even after the 180 day "limit" in certain cases.  Just Google "How long after a transaction can a customer initiate a chargeback?"

There are cases of chargebacks being initiated after one year!

Sucks to be a vendor taking credit cards.  I believe that this is one of the strongest, if not the strongest selling point for taking Bitcoin as payment as opposed to credit cards and we as a community should really drive this point home when talking about Bitcoin to all vendors.

If it sounds like I am trying to scare you out of doing this as a business - that is correct.

There is a very good reason you have not found anyone else doing what you are doing - and it is not that you are the first one to think of it!

Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
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October 10, 2012, 12:03:57 PM
 #51

I am happy to report that I got my BTC.  The transaction went as follows:


Holy crap, he's doing digital delivery? I missed that part.

Yeah, you shouldn't do that.

There are some beautiful paper coin designs you can print yourself. And you can buy copper coin blanks and sell those too. Physical goods are the best way to limit the scams.


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ookape
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October 11, 2012, 06:45:13 AM
 #52

I'm really interested in this service too, btc exchanging is a pain, and I use amazon pretty much every day. Keeping an eye on this also.
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October 11, 2012, 07:32:30 AM
 #53

I'm really interested in this service too, btc exchanging is a pain, and I use amazon pretty much every day. Keeping an eye on this also.
Welcome with your very first post!  Congrats!

Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
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October 11, 2012, 08:28:13 AM
 #54

Will be keeping an eye on this, although buying from 'traditional' online shops, like ebay always seems an expensive way to buy. Struggling to find many options at the mo though
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October 11, 2012, 11:51:39 AM
 #55

Most bitcoins are sold out already. I'd give it a try if it wasn't for that. Wink I assume it would be the fastest if you're around when I pay.
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February 21, 2013, 09:50:50 AM
 #56

A question to a very old post: Would it be possible to make selling Bitcoins on Amazon work if Amazon giftcards was used as only payment method?

I don't think that chargebacks are possible with gift certificates, am I right?
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February 21, 2013, 10:08:28 AM
 #57

I'm interested in this - could I use amazon coupons to pay?
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February 21, 2013, 10:23:52 AM
 #58

No. Amazon gift cards have to be purchased with cash (provable by receipt) to be unchargebackable.

Saying that you don't trust someone because of their behavior is completely valid.
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February 21, 2013, 10:37:52 AM
 #59

Okay thanks, bummer.
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