Skip to main content
Crypto Companies Capitalize on Amazon’s Prime Day

Crypto Companies Capitalize on Amazon’s Prime Day

in Bitcoin & Cryptocurrency published on 19, July 2019

On Prime Day, shoppers snap up numerous bargains. After all, it is one of the main ecommerce events of the year at Amazon. But this year, a number of cryptocurrency firms stepped up to offer even better deals and rewards for shoppers taking part in the sale.

Amazon Prime Day Deals

Blockchain payment platform Fold was amongst those to offer further incentives for customers to shop on Amazon and pay by cryptos. Shoppers spending $50 through their app were eligible for a $5 gift card. The firm said this would help introduce consumers to their new payment experience powered by the ‘lightning network’.

“Our goal with the promo is to incentivize more people to get onboarded into the lightning ecosystem and show off our incredible new lightning payments experience.”

Certificates are limited to one per user. This is in order to avoid the need for identity verification.

However, the firm hopes to use similar promos in the future. Their aim is to encourage more people to try out their crypto payments platform.

Encouraging Greater Crypto Adopton

Amazon marketplace crypto payments app Moon introduced a similar offer with its ‘Crypto Prime Day’ promotion. Customers were subsequently offered the chance to secure a further 5% discount on Amazon transactions.

CEO Ken Kruger said the offer should yield a number of benefits, stating: “We figured that offering a 5 percent discount on Prime Day would both reward the hodlers and also incentivize folks to learn more about crypto. Who doesn’t want to save an extra 5 percent? Maybe you have a friend who’s been skeptical about Bitcoin and that extra 5 percent off on Prime Day is just the incentive needed to get them to give it a try. Adoption is good for everyone.”

Credit card-to-crypto payment service Purse already offers savings on Amazon purchases throughout the year. It does so with the tagline “Every Day is Prime Day”. Overall, users can then save an average of 15% on their Amazon purchases.

Purse has been another crypto firm to capitalise on the event in a bid to attract new users.

The promotions reflect the growing synergies between mainstream marketplaces like Amazon and the cryptocurrency community. All this coming at a time when a growing number of consumers are using cryptocurrencies like bitcoin for the first time.

These platforms should subsequently introduce more consumers to crypto transactions. Especially with even bigger savings, over and above those available during the Prime Day event.