Hola folks! Yesterday we got caught up with everything that happened in July 2020 at Parachute and ParJar. Today, I will be sharing news from August. Looking back at those five weeks, they were easily one of the most action-packed ones in the Parachuteverse ever. If you missed my note about the new format from yesterday: “…I thought it would be best to club all the Parachute news into monthly reports and publish them back-to-back over the next few days to catch up with the latest…For a change, we will be focusing on Parachute + ParJar news alone in these monthly reports. Because if we include news from our partner project in these, we might as well publish the Encyclopaedia Britannica”. In case you thought yesterday’s was a long read, boy are you in for a shock today. Make sure to get yourself a beverage and set aside an hour to go through all that will follow. So here’s goes the Parachute scrolls dating 31-Jul-20 to 3-Sept-20 –submitted by abhijoysarkar to ParachuteToken [link] [comments]
31 Jul – 6 Aug'20:
$PAR became one of the top trending coins on CoinGecko this week. The token also received a perfect score on DEXTools. Pretty sweet! We crossed 2500 members in the Parachute channel after quite a while. But no sign of Ron yet. Haha. BrainiacChess Network ($CHESS) was added to ParJar. We got a surprise listing on Hotbit ourselves with an ETH and BTC pairing. $PAR was listed on CoinW exchange this week too. More details here. Looks like wrapping up a day at Parachute usually ends with steaks. If you ever thought otherwise, a look at the $PAR contract should dispel that doubt. A community vote was opened up to list the next token on ParJar. Congratulations to Chirag for winning this week’s Parena and taking home 6k+ $PAR. Neat! Everybody knows about the bitcoin pizza. But did you know about the bitcoin burger? Read all about AlBundy185's crazy BTC journey here. What a wild ride indeed!
AlBundy185’s BTC ride has to be a stuff of legends
Pic of Gian with Diamond Dallas Page taken from his epic WCW Thunder story (https://t.me/parachutetokengroup/395125). Spooky sent us!
Gian announced a temporary stoppage of Two-for-Tuesday to make way for the second annual Big Brother contest. Soon after, he opened up entries for the contest. Woot! Fans can also get updates and spoilers from the GC’s BB group. Gamer Boy hosted a “Random Gk” trivia in TTR this week. Naj hosted a Sunday “Mega Trivia”. Afful held a “General knowledge” trivia as well. Sebastian shared the new ParJar Gaming schedule for August. Yes, you read that right. 75k $PAR in the monthly prize pool. Woot! For this week's Friday creative prompt (#nottodaycovid) by Jason, Parachuters talked "about what you are doing to keep yourself sane during the pandemic" for some cool $PAR.
Alejandro’s betta fish collection is a sight for sore eyes
Elmar, these are all amazing!
Model ships made by Bada during the lockdown. Awesome!
Ivan (from Ivan on Tech) joined the Parachute channel this week. Looks like next few weeks are going to be super exciting! Doc Vic hosted a flash game in the Parachute War Zone for some cool $PAR prizes. Mario had an interesting idea. Change the ParJar display name to “ParJar Wallet” to actually reflect the true nature of ParJar. And voila! “ParJar” is now “ParJar Wallet”. Instant feedback implementation! We also finally got an unofficial price chatter group running. As we mentioned in the last update, Clinton released a limited edition shirt in the Parachute Store this week to commemorate the Liquidity Program on Uniswap. Some of the Parena merch had to be sunsetted from the store though. So if you grabbed some before that, you are now the proud owner of rare Parena merchandise. James from the Parachute Athletics and Running Club announced a Secret Challenge for 400 $PAR. Cap shared a sneak peek into what’s brewing behind the scenes. He also posted some experimental visuals for the website and for ParJar:
Cap’s creative spurts are super trippy! Pt. I
Trippy creatives from Cap Pt. II
7 Aug – 13 Aug'20:
ParJar did some heavy lifting on behalf of Uniswap this week when Uniswap got clogged but ParJar swaps were running smoothly. If you haven’t seen how swaps work yet, CF made another cool video tutorial. Following last week’s community vote, Enjin ($ENJ) won a spot to become the next swappable token on ParJar. DMM DAO’s $DMG token was listed on ParJar as well. Inputs from the community were taken for listing the next DeFi token on ParJar. A new tier was added for the Parachute Uniswap Liquidity Rewards Program this week. Last week’s incredible Parachute run on CoinGecko was noticed by many including DAO Maker and Blockfyre. We got word that Parachute was featured in Ivan’s (Ivan on Tech) private report meant for his closed group of subscribers. Word on the street is that Parachute was reviewed in detail in the Hidden Gems section of the report and received the highest score among all the projects covered there. Super cool! He also talked about Parachute in his latest video. Watch out for timestamps 42:23 and 47:48. And followed it up with another mention in next day’s video as well. Pretty cool! $PAR also saw some crazy movements and activity. And all this started while Cap was chilling on an Amtrack on his way to Vermont. Haha.
Cap shared this amazing view from Vermont
Check out the Sentivate gear in the Parachute shop. For this week's creative prompt (#donkeyart), Jason had Parachuters "find an image of a piece of art that particularly moved" them and explain how and why. Darren’s Mega Friday Trivia in Tiproom had a sweet 6300 $PAR prize pot. Peace Love (Yanni) hosted another quiz in TTR with some more cool $PAR prizes. Clinton’s charity For Living Independence (FLI) became Lumenthropy’s spotlight charity this week which means they will be matching all $XLM donations to FLI. Lumenthropy is Stellar’s charitable arm. The entries to Gian's Big Brother Contest closed this week with Gian starting to share updates on episodes and $PAR rewards to weekly winners. If you want to catch all the action, head over to the BB Group set up by GC. And the most amazing thing happened this week – As new folks were joining into the Parachute group, someone named Ender Wiggin chimed into the chatter and as we talked we figured that he was not only Cap's neighbour in NYC but was also my school senior. Parachute truly brings the world together! PARs & Recreation wants to create a Parachute foodies group. And if his posts are anything to go by (figs, blueberries, Ikura), it’s going to be a hunger-inducing channel. Doc Vic (from Cuba) announced the start of a team Deathmatch tournament in the Parachute War Zone.
Looks like an epic ParJar video is underway. Parachute was also covered extensively by EllioTrades Crypto this week. YouTuber CM TopDog too made an awesome video on Parachute where he talked at length about the project, the roadmap, the token and more. Saweet! After seeing Albundy185 struggle with pooling on Uniswap, Cap and Ice had a light bulb moment for an entirely new feature on ParJar that would make pooling social and fun. More details to be released over the next few weeks.
Jose’s epic new gif puts Cap’s lightbulb moment about social pools into perspective :D
Looks like Alexis’ neighbour is into Uniswap pools as well. Get it, get it? Haha
Congratulations on the new store, Hang! Folks who don't know, Hang is building a hempire. World domination next
14 Aug – 20 Aug'20:
As mentioned last week, Cap and crew had something cool brewing for folks who pool assets on Uniswap. Presenting Social Liquidity Pools (SLP) by Parachute. No more pooling/staking alone in silos. Get together with others doing what you love most – pool assets on Uniswap (either directly or through ParJar - upcoming), then stake the received liquidity tokens into SLPs on ParJar to get additional rewards and social bonuses like entry into VIP or premium token curated groups. Making Uniswap social! Click here to read about what’s next for ParJar and Parachute. The first Uniswap $PAR Liquidity Pool Rewards Program came to a close. All qualified poolers will receive their rewards in 2 months. DeFi superstar yearn.finance ($YFI) was added to ParJar this week for both sends/tips and swaps. Woohoo! Waifu in the house. After last week’s community inputs regarding the next new token on ParJar, a public vote was started. Uptrennd founder Jeff Kirdeikis’ latest project, TrustSwap ($SWAP), got listed on ParJar after winning that vote which got a shoutout from Ivan as well. So now we have a tongue twister on our hands. Haha. Cap also shared the first hints about $PAR governance. More details to be posted next week. Plus, Cap announced that he will be hosting a townhall next week. Stay tuned! Get your questionnaire ready. Like last week, Parachute chatter popped up in Ivan’s latest video this week as well.
Dang! What an amazing place, Victor
For all the mobile gamers out there, Tony set up a Parachute Corporation for the EVE Echoes game. Hit him up if you want to join. Naj hosted a Sunday TTR trivia with a 6300 $PAR prize pot. Gamer Boy held one as well. Darren’s Mega Trivia in Tiproom was super fun as always. Jason did an impromptu token giveaway so that fellow collectors could complete their ParJar collection followed by a mini contest to "guess the closest to the number of miles I am about to run" for some cool $PAR. Chris hosted this week’s creative Friday prompt (#adminfunday): “Using the profile image of any Parachute admin as inspiration, draw what you think that admin would like to do on the weekend”. And what an amazing video Hans (Pad of DeFi Chad). Haha! Super hilarious and fun.
Some of the radest #adminfunday entries. Clockwise from top left: Skittish, TyReal, Staph It!!, Yosma, Ik Now, Jeff, Chica Cuba, Jhang, Kuuraku
21 Aug – 27 Aug'20:
Ivan (from Ivan On Tech) joined Parachute as an advisor. Woot! Welcome to the Parachute fam. Here’s a sneak peek into what the first day discussions with Ivan as an advisor revolved around. The project got featured in France’s largest crypto news platform, Journal du Coin. Noice! Click here for the English translated version. As mentioned earlier, Cap hosted a townhall this week. If you missed it, you can catch up here. He also shared a rough draft snapshot of “how the governance and fee distribution contracts could look for ParJar Wallet”. Plus, some updates from this week and a big picture view at what staking liquidity through ParJar could look like. Parachute also got mentioned in another of Ivan’s videos this week.
Snapshot from the Parachute Townhall
In partnership with Sentivate, ParJar distributed $SNTVT tokens this week to 1500 people of whom 800 were new users. Sentivate hosted this drop for members of a specific group as a token of appreciation for their support. Reminiscent of the AMGO drop, this was a precursor of “how PAR drops + other token drops could work for our Social Liquidity pooling”. The $PAR Governance whitepaper was released and initial brainstorming started in the tokenomics group. Cap was also interviewed by YouTuber Money Party (@Edward_F) this week to talk at length about where we are at and where we are heading. We also received a super duper shoutout from CryptoTube in his latest video where he did a deep dive into ParJar and Parachute. Thanks a ton! Cryptovator did a cool feature on the project as well.
Cap added more changes to the site to show: \"ParJar wallet in action along with…the integrations\" + Big Picture
In this week's creative contest, Jason put up a #writingprompt: "...imagine you are a brand new intern at my new mega corporation...Today is your first day and you are told you need to present something about crypto to upper management...all you know is Bitcoin is a thing and some vague information about it. Pick a coin or general crypto subject and write a short story...None of the facts or material can be correct in your presentation...". Haha! After helping fellow Parachuters with their ParJar collection last week, Jason set up a collector’s group this week. If you have more than 30 of the coins/tokens listed on ParJar in your @parjar_bot collection already, send Jason a PM and he will get you in. Victor hosted a “Big Trivia” in TTR this week for 6300 $PAR in prizes. Afful held a quiz in Tiproom on “General Knowledge” as well. Check out these wicked new shorts in the Parachute Store based on Jose’s gif.
Epic stuff, Jose! Haha
Nice haul from the Parachute Beer Exchange, CF! Markus did you a solid
Boldman Stachs pointed out that $PAR had the highest Galaxy Score on social media analytics platform LunarCRUSH this week. Pretty neat! CF took note. And like Cap mentioned, it has mostly been thanks to him. Haha. And big up to Jesús (@JALBARRAN02) for making a ParJar guide video for our Spanish crew. You rock! Interesting results from the DeFi survey: majority of crypto folks are still DeFi-curious. A new community vote was thrown open for listing the next DeFi token on ParJar. Anyone who's been around a bit already knows that Clinton does some amazing work at his charity, For Living Independence, which creates assistive technology for disabled individuals. This week he shared some snaps of a build which now enables a lady in a wheelchair get upstairs in her home.
This is so wholesome, Clinton! Thank you for doing what you do.
28 Aug – 3 Sep'20:
ParJar was featured in Altcoin Buzz’s latest video. Noice! Click here and here to read some recent updates from Cap. After winning last week’s vote, Akropolis ($AKRO) became the latest token to be listed on ParJar. Woot! bZx crew gave some serious competition too. So we had to get them on ParJar as well. $BZRX was listed this week right after $AKRO. $PAR now has 7k on-chain HODLers. Saweet! Sentivate will be our first partner project to have a Social Liquidity Pool on ParJar. This is amazing! Time for another community vote to get a new project listed on ParJar – this time it is DeFi Pie v/s Ren v/s Proxi DeFi v/s Others. If you’ve missed all the latest Parachute-related videos, we have your back. Check this tweet thread to catch up. Naj hosted a Saturday Tiproom Trivia for 6300 $PAR in prizes. Congratulations to Maria for winning the latest Parena. 8k $PAR in the bag. Woohoo! And congo rats to Yanni as well for winning a special edition shirt from the Parachute store. Gamer Boy’s Big Trivia in TTR saw a ton of participation as always. The Parachute Fantasy Football contest is back! Chris set up the entry rules this week.
CF has done wonders for Parachute’s social metrics: “..+500% in our fi(r)st marketing month..”
Whew, what a month! And with that we close for August 2020 @ Parachute/ParJar. See you again with one more epic monthly update tomorrow. Cheerio!
claimAll will not work for most users. When you get to the claim step, please use the following tutorial: https://steemit.com/eos/@koyn/minimizing-the-cost-of-gas-when-claiming-eos-using-myetherwallet
REMEMBER YOU ONLY NEED TO REGISTER YOUR TOKENS IF YOU BOUGHT THEM ON AN EXCHANGE. YOU DON'T NEED TO CLAIM THEM.
So PLEASE REGISTER your Ethereum address NOW, don't forget about it, or plan on doing it some time in the near future.
- Go to the EOS website https://eos.io
- Scroll down and select "GET EOS"
- Tick all the required boxes and click "Continue"
- Scroll down and click "Register"
- Select Metamask, MyEtherWallet, or Ethereum Wallet
- Follow the guide.
- Remember that the reason you need to register your Ethereum ERC-20 address is to include your EOS tokens in order for the balance of your EOS Tokens to be included in the Snapshot if a Snapshot is created, you must register your Ethereum address with an EOS public key. The EOS snapshot will take place prior to the 1 June 2018. After this point your ERC-20 EOS tokens will be frozen. And you will be issued EOS tokens on the EOS blockchain.
“EOS.IO software utilizes the only known decentralized consensus algorithm proven capable of meeting the performance requirements of applications on the blockchain, Delegated Proof of Stake (DPOS). Under this algorithm, those who hold tokens on a blockchain adopting the EOS.IO software may select block producers through a continuous approval voting system. Anyone may choose to participate in block production and will be given an opportunity to produce blocks, provided they can persuade token holders to vote for them.
The EOS.IO software enables blocks to be produced exactly every 0.5 second and exactly one producer is authorized to produce a block at any given point in time. If the block is not produced at the scheduled time, then the block for that time slot is skipped. When one or more blocks are skipped, there is a 0.5 or more second gap in the blockchain.
Using the EOS.IO software, blocks are produced in rounds of 126 (6 blocks each, times 21 producers). At the start of each round 21 unique block producers are chosen by preference of votes cast by token holders. The selected producers are scheduled in an order agreed upon by 15 or more producers.
Byzantine Fault Tolerance is added to traditional DPOS by allowing all producers to sign all blocks so long as no producer signs two blocks with the same timestamp or the same block height. Once 15 producers have signed a block the block is deemed irreversible. Any byzantine producer would have to generate cryptographic evidence of their treason by signing two blocks with the same timestamp or blockheight. Under this model a irreversible consensus should be reachable within 1 second."
"The EOS Tokens do not have any rights, uses, purpose, attributes, functionalities or features, express or implied, including, without limitation, any uses, purpose, attributes, functionalities or features on the EOS Platform."
"In sum, Defendants capitalized on the recent enthusiasm for blockchain technology and cryptocurrencies to raise funds through the ICO, illegally sold unqualified and unregistered securities, used a Swiss-based entity in an unsuccessful attempt to evade U.S. securities laws, and are now admittedly engaged in the conversion, selling, and possible dissipation of the proceeds that they collected from the Class through their unregistered offering."To ensure EOS tokens are not classed as a unregistered security block.one has made it clear that they are creating the EOS software only and won’t launching a public blockchain themselves. This task is left down to the community, or more precisely, the Block Producers (BPs). The following disclaimer is seen after posts from block.one:
"block.one is a software company and is producing the EOS.IO software as free, open source software. This software may enable those who deploy it to launch a blockchain or decentralized applications with the features described above. block.one will not be launching a public blockchain based on the EOS.IO software. It will be the sole responsibility of third parties and the community and those who wish to become block producers to implement the features and/or provide the services described above as they see fit. block.one does not guarantee that anyone will implement such features or provide such services or that the EOS.IO software will be adopted and deployed in any way.”It is expected that many blockchains using eos.io software will emerge. To ensure DAPPs are created on an ecosystem that aligns with the interests of block.one a $1bn fund will be has been created to incentivise projects to use this blockchain.
“A lot of token distributions only allow a small amount of people to participate. The EOS Token distribution structure was created to provide a sufficient period of time for people to participate if they so choose, as well as give people the opportunity to see the development of the EOS.IO Software prior to making a decision to purchase EOS Tokens.”
“block.one intends to engage an independent third party auditor who will release an independent audit report providing further assurances that block.one has not purchased EOS Tokens during the EOS Token distribution period or traded EOS Tokens (including using proceeds from the EOS Token distribution for these purposes). This report will be made available to the public on the eos.io website.”
"DDoS'ing a block producing is not as simple as knowing their IP address and hitting "go". We have distributed systems engineers in each of our candidate groups that have worked to defend DDoS systems in their careers. Infrastructure can be built in a way to minimize the exposure of the Block Producing node itself and to prevent a DDoS attack. We haven't published our full architecture yet but let's take a look at fellow candidate EOSphere to see what we mean. As for the launch of the network, we are assuming there will be attacks on the network as we launch. It is being built into the network launch plans. I will reach out to our engineers to get a more detailed answer for you. What also must be considered is that there will be 121 total producing and non-producing nodes on the network. To DDoS all 121 which are located all around the world with different security configurations at the exact same time would be a monumental achievement."
"The only way to maintain the integrity of a community is for the community to have control over its own composition. This means that open-entry systems built around anonymous participation will have no means expelling bad actors and will eventually succumb to profit-driven corruption. You cannot use stake as a proxy for goodness whether that stake is held in a bond or a shareholder’s vote. Goodness is subjective and it is up to each community to define what values they hold as good and to actively expel people they hold has bad.
The community I want to participate in will expel the rent-seeking vote-buyers and reward those who use their elected broadcasting power for the benefit of all community members rather than special interest groups (such as vote-buyers). I have faith that such a community will be far more competitive in a market competition for mindshare than one that elects vote buyers."
This link-packed ebook is intended for people looking for the best-kept secrets on the web for buying bulk Amazon, Walmart, Best Buy and other national brand gift cards at the highest discounts—accounting for speed, quality, volume and risk.submitted by levi_d-19 to Redeeem [link] [comments]
Executive SummaryThis article covers some of the many ways to buy discount gift cards. We focus a lot of attention on Amazon gift cards since they are the largest retailer in the world and has the 2nd most gift cards in circulation. We have either purchased or researched in depth most of the sites on this list to come up with some conclusions about the fastest, safest and cheapest places to buy discount gift cards. Please remember, there is no one best place to find gift cards, the goal is to give you options.
The lowest-risk gift cards with the lowest discounts are directly from that brand and at grocery stores and other retail locations (CVS, Safeway, Walgreens, etc). You will also find these 0% offers from 3rd party e-code generators like eGifter and BitPay. You can usually buy instantly and they are guaranteed forever.
Slightly higher risk are the old-school secondhand gift card exchanges like CardCash, CardPool, Raise and others. They offer very small savings up to 5% off the top brands. You can pay with a credit card and they guarantee the card for up to a full year so you can gift them as gifts much easily.
The highest discounted gift cards are on peer-to-peer bitcoin marketplaces with users from many different countries, like Paxful and LocalBitcoins. This also comes with the most risk and the highest amount of work. These platforms have lower regulation and majority of the trades are conducted in non-USD currency.
Finally, there is an emerging category of crypto gift card exchanges that also use bitcoin to offer the same discounts as peer-to-peer marketplaces, but they have more advanced protections in place for buyers and sellers. Sites like Redeeem and Purse.io fall into this category because they can offer larger discounts on gift cards and other products but they use technology to cut out the negotiating. Cards are guaranteed for minutes, hours or days here, so this isn’t the best for gifting.
Your savings (and profit margins) will depend largely on your risk tolerance, length of time you are willing to get paid, country where you are located, capital available, ability to buy alternative forms of currency (like bitcoin), the ability/willingness to ship physical products, overall time commitment, and many other factors.
1. Buy gift cards on marketplacesRedeeem. Save 15% or more on bulk Amazon, Walmart and Best Buy gift cards with auction-style pricing buying with bitcoin. They have great support and great reviews.
CardPool. Save 3-5% on hundreds of brands, including Best Buy, Target, iTunes and Lowe’s. They send the card directly to your email inbox or via USPS in 3-7 days.
CardCash. Gift card marketplace that buys unwanted gift cards for less than their value and resells them at a discount to savvy shoppers across the country. Save 3-5% on hundreds of brands, very similar to CardPool.
Gift Card Granny. This is a nice resource because they link to the sites that have the best deals, unfortunately they don’t index many of the bulk discount sites.
Raise. One of the biggest in terms of volume. Discounted gift cards to hundreds of national brands such as Target, Southwest, Uber, Home Depot, etc. However, discounts are minimal here, ranging from 0-3%.
CardCookie. A great site with great potential—currently offering 5-10% discounts but not very high volume yet. Keep them bookmarked.
2. Buy gift cards with bitcoinRedeeem. Redeeem is a great option for buying Amazon gift cards at 20% discount or higher using bitcoin. Unlike Paxful or LocalBitcoins, they manually validate and guarantee every gift card sold on the platform and have an easier buying experience. But you will have to trade during market hours (they are only open 8 hours a day).
BitPay. Raised over $72 million from investors, they’re the largest bitcoin payment processor. Download the app to buy Amazon e-codes fast at 0% discount.
Paxful. With 300+ currencies to trade, Paxful’s peer-to-peer platform with millions of users in Africa offers likely the best discounts for gift cards, but there are a lot of scammers (and yelling) so be careful. You may find yourself with a lot of stolen/invalid cards and trade disputes with money at risk.
LocalBitcoins. LocalBitcoins lets you buy and sell bitcoin in over 248 countries. Like Paxful, this comes with high risk and high reward. Every trade starts with a listing, similar to Craigslist, and the platform is strictly peer-to-peer.
Purse. Save 10% or more on Amazon when you pay with bitcoin, or dropship products (including gift cards) to people to earn bitcoin.
CardBazaar. An online secondhand gift card marketplace where you can buy and sell unwanted gift cards for cash or bitcoin.
Bidali. A bitcoin payment processor that competes with BitPay and offers full-priced e-codes from Amazon and other retailers.
eGifter. One of the best way to buy eGift cards quickly for friends, family and yourself without hassle. Choose from hundreds of top national brands. You can personalize your gift with an animated greeting card, photo or video greeting.
3. Fill out online surveys for gift cardsSurvey Junkie. offers a massive inventory of paid surveys. Each survey is assigned a point value (most between 100-200 points) and estimated completion time. Once you accrue 1,000 points (around $10) you can cash out with a gift card.
Beer Money on Reddit. This a Reddit group dedicated to making some cash on the side. Don’t know much about it.
PointClub Surveys. You can earn points for completing paid online surveys. When you have enough points, you can redeem them for cash or the gift card of your choice. Gift cards can either be digital or real cards sent to you. It's that easy!
OpinionOutpost. You can earn cash and rewards for the time you spend taking online surveys with points you can redeem for cash or gift vouchers to popular brands.
4. Buy directly with people onlineReddit. Reddit is used by a ton of gift card traders, but you have to be familiar with the platform and have some karma on there before using it seriously. Otherwise, your listings will just get filtered out by their algorithms. If you go in there moving quickly without reading their rules carefully you will likely get banned.
5. Buy directly from people offlineCraigslist. As you probably know, you can get anything on Craigslist. But like Paxful and LocalBitcoins, it requires a lot of negotiating and there are scammers galore. The only deals worth doing are small volume with trusted local partners.
Facebook Marketplace. Although this wouldn’t be my first choice due to the randomness, there are a lot of gift cards on Facebook Marketplace—a growing platform.
eBay. Older than time itself, eBay earns millions of dollars a day in gift card volume. They are fairly warm to buying and selling physical gift cards but they are cracking down on e-codes. The downsides here are shipping costs and eBay/PayPal fees which add up to over 10%. There are also a lot of international buyers on eBay taking advantage of currency exchanges, which inflates prices of gift cards above their face value. It’s an expensive place to find gift cards—but always there.
6. Arbitrage gift cards on AmazonAmazon is unique in a lot of ways. One way in particular is that they let you buy other brands of physical gift cards with your Amazon credit balance—such as Nordstrom, Southwest, Nike, Starbucks, Google Play, iTunes, Best Buy, Lowe’s, Sephora, Hotels.com and dozens more.
This opens the door for people to buy gift cards on Amazon and then sell them to CardCash, CardPool, Raise, Paxful, Reddit, LocalBitcoins, Redeeem, etc. The risk, believe it or not, is that Amazon loves shutting down people’s accounts with gift card balances frozen inside. So don't let your balances get too high and try to mimic normal behavior that doesn’t make you look like a large dropshipping business (e.g. ship to yourself, buy other products too, have a real phone number and billing address on file, etc). There are also hard quantity limits on how many gift cards you can buy for each SKU on Amazon.
Your profit margin will depend on how you get Amazon credits, your ability to keep your Amazon accounts in good health, and the rate at which you sell your cards to gift card marketplaces (some let you choose your own rate, others have fixed rates), and the speed and method you want to get paid (check, ACH, bitcoin, PayPal, etc).
7. Swap other gift cards for AmazonCardCash Amazon Exchange. This is a cool resource that CardCash built alongside Amazon to allow customers to swap out other national brands for Amazon e-codes for a small fee. The rates are comparable to what they have on the main CardCash website and the e-codes are delivered within 24 hours. It’s a cool way to jump from one brand to another if you want Amazon gift cards in particular and have another.
8. Buy gift cards from retail storesRetail Stores. There are hundreds of physical retail store locations where you can buy physical gift cards in person (the link points to Amazon retail locations). You pay full retail price but it’s fast, safe and reliable—and you can earn 3-5% cash back with certain credit cards like Amazon Prime card.
9. Earn gift cards for online workMechanical Turks. Amazon Mechanical Turk (MTurk) is a crowdsourcing marketplace that makes it easier for individuals and businesses to outsource their processes and jobs. This will require a lot of work, but you can get paid in Amazon gift cards.
Swagbucks. You can redeem a Amazon Gift Cards by using the Swagbucks you earn through playing, searching, discovering, answering, watching or shopping on websites that are trying to sell you things. Not very profitable but can be fun.
10. Daily deals websitesGroupon. Although not as popular as when it first launched in 2009, Groupon is still used by millions of people to get discounts on stores, experiences and even gift cards like Amazon, Walmart and Best Buy. There is also a gift certificate category that has similar offers (sorry, we couldn’t find anything similar on Living Social).
Amazon Daily Deals. Amazon has daily deals on many categories of products as high as 20% discount. On some occasions they will slash prices on gift cards. Amazon Treasure Truck. Amazon has a Treasure Truck that they drive around many of their Whole Foods locations they use to promote Amazon Video shows and offer 10% discount deals on food, clothing and tech.
Gift Cards.me. Simple app, good reviews, worth a try. The discounts aren’t very spectacular, but they claim to have fast gift card delivery.
Nimble Commerce. Not sure how long they’ll be around, but worth a shot.
Bonus KnowledgeOn the back of your gift cards, check all the stores where that brand is accepted. For example, gift cards for Gap also work at Old Navy, Banana Republic, Athleta and Piper Lime. Walmart gift cards work at Sam’s Club, Amazon gift cards work at Whole Foods, and Albertsons gift cards work at Safeway, Vons and a dozen other grocery store chains in the same family. Make sure you know these sister-company store policies before you buy a brand.
One limitation you may find with many stores like Amazon, Walmart and Best Buy is that they have per-product purchase limits. Obviously you can create new accounts or ask friends and family to buy products for you, but some products have gift cards under many different SKU numbers—like a Christmas and Birthday version. There are also limits set for each of these individual items, not the gift card category as a whole.
Finally, based on the U.S. government regulations, the maximum amount of gift cards that can be purchased in a 24 hour period by a single person $10,000. So please keep this in mind when you are out there shopping.
Good luck, be honest, and happy trading!
submitted by PIEXGO to PIEXGO [link] [comments]
In the month of September, PIEXGO has grown significantly! We've continued to establish ourselves in Korea, launching our first Korean and fifth IXO project with PRO School, a premium edu-curation platform, and expanded our operational and marketing efforts.
These milestones have been crucial in establishing our brand and instilling confidence towards our users.
Let's take a look at PIEXGO's progress in the month of September:
Technical and Product Development
Should you have any feedback, please feel free to reach out on any of PIEXGO’s official accounts below:
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