I saw this comment yesterday: The concept seems okay, but the OP did not seem to have a good understanding of Ebay and Amazon fees, so I suspect with the margins they are discussing they may lose money on some items?
Some background: Amazon to Ebay arbitrage has been a common money making method discussed on money making forums for a few years now, put simply, you sell an Amazon item on Ebay with a small profit, and have amazon ship the product direct to a customer.
Bitcoin is a digital currency which allows for the easy flow of value around the world, which is creating a lot of oppurtunities.
Example item: Deluxe Chicken Coop Nesting Box - $174.95 & $209.99 Free Shipping that is a potential $35.04 profit on an item with 28 Watchers on Ebay.
Increasing profit with Giftbac: Giftbac.com sells discounted Amazon gift cards, with discounts ranging from 5% to 12%. The amazon item in this example costs $174.95 so I would use this $189.98 giftcard being sold for $170.98. This brings the real money cost of the item to $157.45 and my profit to $52.53 ($15.03 of this would be left on my Amazon account as gift card balance, leaving me $37.50 in Paypal.)
Increasing profit again with Localbitcoins.com: If you buy Bitcoin with cash you can often find a 5% discount, people pay a 5% premium to trade Bitcoin for Cash, the key here is to set yourself up as a buyer, and not go looking for people selling Bitcoin for cash.
The $189.98 gift card being sold for $170.98 will now only cost me $161.48 in real money. The item will now cost me $148.70 making my total profit $61.29 before ebay/amazon fees.
Do you think this idea can work, and what would be my limiting factors to scaling?
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