Purse, a bitcoin-powered e-commerce marketplace, has announced its partnership with Coinsecure, one of the leading bitcoin exchanges in India.
Through this partnership, Purse said that it will provide Coinsecure’s customers with a unique value proposition to incentivize further adoption of bitcoin.
The recent demonetization drive in India has led to an increased demand for bitcoin in the country, Purse noted. This is accompanied with demand for value-added services to spend that bitcoin.
Purse already has a partnership in place with another Indian bitcoin exchange Unocoin, which was announced in April 2015. The collaboration aimed to complete the cycle from Mechanical Turk to Indian rupees.
“Through this partnership, Coinsecure users can be directed to try our service to enable them to seamlessly buy products and goods from Amazon, at a discount. This is in combination with our pre-existing partnership with another leading India-based exchange, Unocoin”, Purse said in a blog post.
“Purse.io also makes it possible to buy products from Amazon at a discount. You automatically get 15% off on products on Amazon when shopping with the Coinsecure/Purse.io partnership!”, Coinsecure said.
Mechanical Turk, launched in 2005, is an initiative by Amazon to employ human intelligence (i.e. manual work) for tasks that cannot be executed by computers. It is a marketplace that connects individuals who perform tasks in exchange for Amazon credit.
As majority of Turkers are based outside the U.S., they have limited choice of payment options, that is, a USD check in the mail, or an instant Amazon gift card balance. Purse.io can solve this problem by converting this balance into bitcoin.
“Amazon Mechanical Turk workers continue to need ways to liquidate their excess Amazon gift credit as well. With over 500,000 people working through their Mechanical Turk service, Purse is an excellent way for those users to cash their credit out for bitcoin, where they can easily sell for INR through a local exchange like Coinsecure”, it added.


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