As I continue my journey to make a living from my computer in my efforts to be a digital nomad, I may have come across my most brilliant scheme yet! It's not really a scheme - just taking advantage of good deals. This is a way of buying from Amazon at a low price and turning around and selling it back through Amazon at a higher price and it's fulfilled by Amazon (FBA)!

This means, I can let Amazon handle all the shipping and customer service through their FBA service while I focus on purchasing products at discounted prices from Amazon. I also buy from other distributors for my business, but today I will outline how to do this with one of, if not the best source, of discounted products I have found - Amazon itself!

As some of you know I have been playing with bitcoin and altcoins ever since I earned some STEEM from blogging. I have recently decided to take some of my bitcoin holdings and buy items from Amazon through purse.io for a 20% discount. This is how I am turning my crypto into cold hard cash at great premiums!

This investment makes sense for me because, much of the Bitcoin I have was from trading in STEEM that I earned from blogging on Steemit.com. Also the price of bitcoin has gone up since I acquired it. However this would be profitable even if those two things weren't the case.

How To

The items that I am buying are items that I have found through www.camelcamelcamel.com. I am always monitoring for % percentage price drops that look like they will go back up soon based on the price history chart. I then choose my item to to be added to my wish list for purse.io at a 20% discount.

Now I will tell you exactly how I have been doing this and making some really nice profits. First of all I will explain the basics of online arbitrage and then explain my exact process.

Online Arbitrage

Online Arbitrage (OA) is similar to Retail Arbitrage (RA) in that you are basically just taking advantage of discounts, clearance, priced drops, etc to buy products at a low price and immediately turn around and sell them at a higher price. I started doing this before I used purse.io and it was already profitable, so the extra 20% off I have been able to get from purse.io equates to pure profit.

There are many different ways of doing this type of arbitrage. I have heard of going to to stores like Big Lots, Target, Walgreens, etc and taking advantage of discounts, rewards, and clearance sales to get products they then turn around and sell on Amazon at full price. Amazon even provides a sellers app that facilitates the process by giving you the ability to quickly scan the product and see what it sells for on Amazon.

Some of the best deals to be found though are on Amazon itself. Amazon periodically has huge inexplicable price drops that cause the the best seller rank of the product to go up and often sell out quickly at that price. Soon after the product is selling at the full price even by Amazon itself.

CamelCamelCamel.com

Funny name, serious discounts. Thats my tagline for the site anyway, but they should use it because I have found some great deals on the site. I check the % price drops every day that I do online arbitrage. It is also the first place that i started finding products to buy and sell for on Amazon for great profits.

When you go to the site, click price drops, then on the settings, click the relative percentage button. It defaults to the highest absolute price drops, but if you looking to make profits on Amazon FBA the percentage price drops are the only thing to look at, in my opinion.

Also, I don't bother with any profit margins under five dollars even if the the discount is 500%. Even if your only paying a dollar and charging five, you are going to lose most of you profits in shipping. Unless you charge for shipping of course, but for cheap products like that, people generally buy at brick and mortar locations or find ways to avoid paying shipping.

These are just my standards though, feel free to develop your own profit strategy. I notice products that don't meet my standards also selling out quickly. Another site that is designed for doing this is www.keepa.com. They have lots of price drops to check out but camelx3 seems to focus more on items with higher best seller rank, making much better to find products the will sell.

Amazon Best Sellers Rank (BSR)

If you are going to do this successfully, you must be aware of the BSR. Always check the BSR by scrolling down on the Amazon product page and looking at product details. A good BSR number varies based on product category but a rule of thumb I follow is nothing above 150,000.

Purse.io

For those that don't know www.purse.io is site that facilitates the buying or using Bitcoin by setting up transactions for people to buy Amazon products for people with bitcoin by seeing the shared wish list and using their dollars to buy amazon items off your wish list and ship to you for which they receive your Bitcoin. '

Users seem to be happy to pay a 20% premium as I have named my discount price of 20% with no problems with multiple orders. The process should also feel comfortable for the buyer of my items/Bitcoin because Purs.io requires me to deposit my Bitcoin when I share my wish list and name my discount so when someone excepts the order and completes the purchase to be sent to my address, Purse.io releases the Bitcoin I previously deposited to the buyer.

Steemit, Steem, and Bitcoin - Money For Nothing and Trips For Free

As many of you know I have been doing some traveling from online money making endeavors I have engaged in, SteemFest in Amsterdam being one the trips resulting directly from blogging on Steemit! The reason I am making this stuff my full time job is because of Steemit. The first Bitcoin I ever bought, I paid for with STEEM. As I have enjoyed writing about whatever i want, I feel like I have used this free money to make more and more money!

When I think of it like that, the Bitcoin I got from STEEM from blogging has been multiplied in dollars with 100% pure profit. I did spend my time doing this, but I loved every minute of it. I am beginning to love this e-commerce/crypto/steemit world more and more as it becomes my full-time job.

As I continue my crypto journey for making money online, I will fund my travels and continue to share my journey with you here one Steemit.

Combining 3 awesome deals into one great way to make money!

Formula for huge profits = Earn STEEM(exchange for BTC) by writing about whatever cool stuff you are already doing/have done--->Find price drops on camelcamelcamel--->Get 20% purse.io discount off Amazon items using BTC--->Sell items at full price(200% to 300%+ above cost) on Amazon with FBA for USD.

And if you use my referral link and spend 50$+ we will both get .01 BTC! - https://purse.io/?_r=lys7Fx