Purse and Unocoin can help translate Amazon gift card balances to bitcoin and Rupees. Work on HITs to earn Amazon credit and then turn gift card balances into bitcoin and Rupees. Mechanical Turk is a marketplace that connects individuals who perform tasks in exchange for Amazon credit.
There are certain tasks which can be carried out much faster by humans than computers. Mechanical Turk is Artificial Intelligence for outsourcing some parts of a computer program to humans. It is a great system, but cash out options are limited.
Over 80% of Mechanical Turks live outside the US where direct deposit is not an option. There are 2 cash out options on Mechanical Turk:
- USD check in the mail
- Instant Amazon Gift Card Balance
Through Purse, Turkers can exchange Amazon gift card balances for bitcoin in 2 days. Through Unocoin, Turkers can sell their bitcoins and get Rupees to their bank account. Register now with Purse.io.
Here is an example of how it works
Systematic Investment Plan (SIP) is a new and exciting way to acquire bitcoin – the first of its kind that is introduced by Unocoin. This is a more conservative approach to investing in bitcoin than spending all your money on bitcoin at once. This technique allows you to commit to a fixed INR amount on bitcoin on a regular schedule regardless of the price. You can invest as little as 50 INR per interval. You need to fund your INR wallet and schedule the orders below to start with SIP. This feature helps with financial discipline by averaging out your cost and there by reducing risk resulting in generating better returns.
Whats more? Enjoy 0% transaction fee till 30th April.
Unocoin proudly announces INR wallets for customers in India. This will allow users to store rupee balances and also make instant bitcoin purchases without waiting for bank transfers.
The only way Indian customers could previously acquire bitcoin through Unocoin was to place a buy order in advance, make payment within 8 hours and get the bitcoins at the locked-in rate.
With the new wallet service, users can add INR whenever they wish and use that balance for instant trades at a later time. Important to note that clients may not use the INR wallets to store proceeds from bitcoin sales. Instead, proceeds from any bitcoins sold will be deposited directly to the user’s bank account. The flow is designed this way as an effort to self regulate and make sure that every rupee used to trade bitcoin goes through appropriate banking channels and do not circulate within Unocoin’s wallet.
Cooperation with regulators
Unocoin has worked with its accounting team and legal representatives to assess whether its INR wallet is a regulated activity.
Unocoin has so far offered customers the options of a bitcoin wallet, bitcoin trading and merchant gateway services. Customers in India who have verified their accounts may access INR wallets immediately.