Friday, June 9, 2023

Amazon shopping with Bitcoin Cash


The Purse service, which allows you to make purchases from Amazon in bitcoins, has now added Bitcoin Cash as a payment method. This news was shared by the head of Bitmain, Jihan Wu in his twitter account on June 28.

Service Purse gives the opportunity to make purchases on Amazon for the cryptocurrency. Previously, the system used only bitcoin, but now users have the opportunity to pay with Bitcoin Cash.

Bitcoin Cash is the fourth largest cryptocurrency in the world. Its price is 704 US dollars, the capitalization is equal to 12.1 billion dollars.

Technically, Purse is an intermediary between people who want to buy goods on Amazon, and people who want to buy cryptocurrency.

The mechanism is simple: the buyer selects the goods on Amazon and sends it to the shopping cart on the Purse website. Anyone who wants to buy a cryptocurrency pays the selected goods with fiat money on the Internet retailer’s website. As a result, the buyer receives the goods, and the one who paid for it, receives cryptocurrency in return.

When paying in a cryptocurrency, the customer of the service can receive bonuses of 5% or more of the value of the goods.

Amazon itself does not accept cryptocurrency as payment yet. But the Amazon Technologies company, part of the Amazon structure, patented a solution that allows users to receive data on cryptocurrency transactions in real time.

Beta version of the new Cashpay wallet for Android and iOS devices allows you to pay for purchases in any online store in the Bitcoin Cash cryptocurrency.

The Cashpay team wants to create an intuitive user interface that allows payments with the BCH. Developers warn, while Cashpay is at the testing stage, therefore it is not recommended to store a large amount of BCH on the wallet. At the same time, they emphasize that no one except the owner himself has access to his keys and facilities.

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