Purse Announces Upcoming Bitcoin Marketplace

Hoping to entice the everyday man (or woman) into using bitcoin, Purse offers a service to trade unused gift cards for bitcoin, thereby providing large discounts for shoppers. It has provided large discounts on Amazon purchases for people using bitcoin. Purse’s platform will, in the next week, be expanded to allow anyone to sell goods for bitcoin on their new marketplace, in a similar vein to websites like eBay, but using bitcoin.

The direct payment and decentralized nature of bitcoin will be utilized for people to sell goods online without requiring an account with a payment processor, thereby ensuring that users get as much from their sales as possible. Compared with other bitcoin marketplaces like OpenBazaar and BitMarkets, Purse will be focused on providing its users with an easy and manageable system, rather than a completely anonymous one. In addition to this, Purse will be providing an escrow agent for all transactions on its new platform as this is an area in which it already has experience.

Having to compete with established online market place giants like eBay will not be easy but Purse believes that it will enjoy success as it will have additional selling points, such as linking with discounted Amazon products. The user interface is designed to be as friendly as possible and to resemble existing retail websites to assist customers in feeling comfortable using the site.

Companies like Coinbase and Circle will be used to seamlessly allow users to use local currency to pay for goods without having to worry about the process and technology behind it. Andrew Lee, Co-founder & CEO of Purse, is currently answering questions in Roger Ver’s AMA.