The Gift Card / Bitcoin Business Model

[thom88]

Hi,

I came here to ask a (some) question, hoping not to be fried right away as I have some legitimate questions about the entire Gift card/Crypto business...

Overall I am curious how this entire business works as a whole. I see so many offers on exchanges like paxful and even here in the forum, so I am sure somebody reading this is a pro and could help me out.
I am even willing to pay a small fee to someone who would take the time and walk me through this business on a zoom call or so (message me in pm) as I understand that knowledge is valuable.

Specific questions i have is:

1. Who are the people selling 100 USD Amazon for 60% of the value only? I mean you can get more for that on ebay.
2. How are you making sure, that gift card works and is not cancelled after you got the code?
3. Some People trade for 20k$ a day. what you do with 20k worth of gift cards a day? 
4. Are platforms like amazon allowing a person to redeem millions in gift cards a year without raising any flags?

Looking forward to understand the science behind this business model

cheers

[1714610346]

1714610346

[1714610346]

1714610346

[wheelz1200]

Hi,

I came here to ask a (some) question, hoping not to be fried right away as I have some legitimate questions about the entire Gift card/Crypto business...

Overall I am curious how this entire business works as a whole. I see so many offers on exchanges like paxful and even here in the forum, so I am sure somebody reading this is a pro and could help me out.
I am even willing to pay a small fee to someone who would take the time and walk me through this business on a zoom call or so (message me in pm) as I understand that knowledge is valuable.

Specific questions i have is:

1. Who are the people selling 100 USD Amazon for 60% of the value only? I mean you can get more for that on ebay.
2. How are you making sure, that gift card works and is not cancelled after you got the code?
3. Some People trade for 20k$ a day. what you do with 20k worth of gift cards a day? 
4. Are platforms like amazon allowing a person to redeem millions in gift cards a year without raising any flags?

Looking forward to understand the science behind this business model

cheers

No one rightly (legally) sells amazon cards for 60% off.  Most of these are stolen, or bought using stolen credit cards.  All said if something seems to be good to be true it usually is.  Think about it.  Why would someone sell an Amazon card (which you can literally almost buy anything).  I can see maybe a really niche card that you just wouldn't use personally and sell it at a discount...but not Amazon.

[thom88]

Hi,

I came here to ask a (some) question, hoping not to be fried right away as I have some legitimate questions about the entire Gift card/Crypto business...

Overall I am curious how this entire business works as a whole. I see so many offers on exchanges like paxful and even here in the forum, so I am sure somebody reading this is a pro and could help me out.
I am even willing to pay a small fee to someone who would take the time and walk me through this business on a zoom call or so (message me in pm) as I understand that knowledge is valuable.

Specific questions i have is:

1. Who are the people selling 100 USD Amazon for 60% of the value only? I mean you can get more for that on ebay.
2. How are you making sure, that gift card works and is not cancelled after you got the code?
3. Some People trade for 20k$ a day. what you do with 20k worth of gift cards a day? 
4. Are platforms like amazon allowing a person to redeem millions in gift cards a year without raising any flags?

Looking forward to understand the science behind this business model

cheers

No one rightly (legally) sells amazon cards for 60% off.  Most of these are stolen, or bought using stolen credit cards.  All said if something seems to be good to be true it usually is.  Think about it.  Why would someone sell an Amazon card (which you can literally almost buy anything).  I can see maybe a really niche card that you just wouldn't use personally and sell it at a discount...but not Amazon.

40% off, not 60 but yeah, same thing. I know what you mean. this is where I am but I am sure, there is a whole other business behind it bthat is not stolen cards as what I see, big users int he space do care if the card has been paid with cash and even want a picture of the receipt and that its paid with cash (removes the chargeback risk entirely). The space is too big to just be stolen cards i think

[wheelz1200]

Hi,

I came here to ask a (some) question, hoping not to be fried right away as I have some legitimate questions about the entire Gift card/Crypto business...

Overall I am curious how this entire business works as a whole. I see so many offers on exchanges like paxful and even here in the forum, so I am sure somebody reading this is a pro and could help me out.
I am even willing to pay a small fee to someone who would take the time and walk me through this business on a zoom call or so (message me in pm) as I understand that knowledge is valuable.

Specific questions i have is:

1. Who are the people selling 100 USD Amazon for 60% of the value only? I mean you can get more for that on ebay.
2. How are you making sure, that gift card works and is not cancelled after you got the code?
3. Some People trade for 20k$ a day. what you do with 20k worth of gift cards a day? 
4. Are platforms like amazon allowing a person to redeem millions in gift cards a year without raising any flags?

Looking forward to understand the science behind this business model

cheers

No one rightly (legally) sells amazon cards for 60% off.  Most of these are stolen, or bought using stolen credit cards.  All said if something seems to be good to be true it usually is.  Think about it.  Why would someone sell an Amazon card (which you can literally almost buy anything).  I can see maybe a really niche card that you just wouldn't use personally and sell it at a discount...but not Amazon.

40% off, not 60 but yeah, same thing. I know what you mean. this is where I am but I am sure, there is a whole other business behind it bthat is not stolen cards as what I see, big users int he space do care if the card has been paid with cash and even want a picture of the receipt and that its paid with cash (removes the chargeback risk entirely). The space is too big to just be stolen cards i think

40% off at Amazon all day everyday is too good to be true.  Call me a cynic but I wouldnt be able to buy into it.  There might be a small discount you can get with people trying to sell off cards they had but at 40% on a consistent basis I just can't buy into.  If anyone tells you different its probably for nefarious reasons.

[magneto]

Most of the activity in this field is grey at best and at worst illegal. You should steer clear altogether.

Especially with "bulk suppliers" who are actively seeking out 1000's of dollars worth of cards from a "long-term seller" at high discounts (I'm talking >50%), it is pretty much guaranteed that they are not in the legit business.

Watch out for these people on paxful too. If you use a highly discounted GC that proves to be stolen/hacked/carded and you use your address on the order, there is a real risk you'll have law enforcement knocking on your door. Check out some purse.io stories on reddit if you don't believe me.

[thom88]

Most of the activity in this field is grey at best and at worst illegal. You should steer clear altogether.

Especially with "bulk suppliers" who are actively seeking out 1000's of dollars worth of cards from a "long-term seller" at high discounts (I'm talking >50%), it is pretty much guaranteed that they are not in the legit business.

Watch out for these people on paxful too. If you use a highly discounted GC that proves to be stolen/hacked/carded and you use your address on the order, there is a real risk you'll have law enforcement knocking on your door. Check out some purse.io stories on reddit if you don't believe me.

I would not agree more with you BUT I am not asking for if its legal, grey or something else but the economy behind it. We cannot deny the fact that there is people with over 1000+ Gift Card trades (hundreds of them) and i highly doubt, they pulled of even 10% scams as you can only scam so much with one account. So I am not asking to ENTER that market, god no! Just to understand it.

Sure there must be someone doing this business and have an insight.

Someone sending lets say 0.01 BTC for a 200 USD Gift card for example, must have a way or know exactly, how to avoid being scamed. Doing it 1000 times in 1 year. People are stupid but nobody does a stupid thing a 1000 times if it doesn't work somehow right (i hope not haha)

[Podgor]

I haven't seen any trusted suppliers offering that on regular basis. That's not possible, person would have to rob a store or something. These 60% codes are CARDED and will lock your amazon account (maybe you could manage to add a code or two if your account is good) but long-term amazon will ban you for redeeming these codes. All these newbies who said they do 20k daily are just delusional multi accounts.

[magneto]

Most of the activity in this field is grey at best and at worst illegal. You should steer clear altogether.

Especially with "bulk suppliers" who are actively seeking out 1000's of dollars worth of cards from a "long-term seller" at high discounts (I'm talking >50%), it is pretty much guaranteed that they are not in the legit business.

Watch out for these people on paxful too. If you use a highly discounted GC that proves to be stolen/hacked/carded and you use your address on the order, there is a real risk you'll have law enforcement knocking on your door. Check out some purse.io stories on reddit if you don't believe me.

I would not agree more with you BUT I am not asking for if its legal, grey or something else but the economy behind it. We cannot deny the fact that there is people with over 1000+ Gift Card trades (hundreds of them) and i highly doubt, they pulled of even 10% scams as you can only scam so much with one account. So I am not asking to ENTER that market, god no! Just to understand it.

Sure there must be someone doing this business and have an insight.

Someone sending lets say 0.01 BTC for a 200 USD Gift card for example, must have a way or know exactly, how to avoid being scamed. Doing it 1000 times in 1 year. People are stupid but nobody does a stupid thing a 1000 times if it doesn't work somehow right (i hope not haha)

Yes, and I'm telling you the way that they do it is illegal/greyhat at best. What part of that do you not understand?

They're likely knowingly getting carded GCs because they have a way to cash it out. Perhaps it's buying resellable electronics and changing their address each time, perhaps it's passing on the GCs to an unknowing someone else. There is a ton of possibilities if you are willing to ignore the law.

As long as there are profit incentives (which there are, since most illegitimate cards are sold at absurd discounts), these bulk purchasers will continue to be in business.

[hugeblack]

One of the reasons why people sell these cards at a discount is that they want to buy bitcoin anonymously, so offers that include 5% or 10% discounts seem reasonable for those looking for more privacy or interested in it.

More discounts can be believed in that some people get these cards at a lower price when buying them in large quantities, but below 40% levels, which do not seem reasonable.

It is not possible to know the validity of the cards until they are used and it is not 100% guaranteed, so always try to buy them from well-known sources such as companies or physical cards.