Don’t worry. You can keep on HODLing your Bitcoin but if you’re interested in buying and selling stuff with cryptocurrency, there’s a bunch of emerging decentralized blockchain marketplaces that allow you to do just that.
From investing in assets to monetizing your content and data, decentralized marketplaces are gaining momentum fast. Check out the top 3 crypto-enabled shopping platforms here:
SysCoin is a cryptocurrency and decentralized marketplace where you can buy and sell stuff in a completely commission-free manner (via the native platform token). SysCoin allows users to create an entire storefront to sell their own goods or resell goods for a profit.
Claiming zero downtime and being free from “political interference” or “corporate gauging,” if you’re fed up with the likes of eBay and Amazon, you may want to give this marketplace a whirl.
As a fork of the Bitcoin protocol, SysCoin is merge-mined with Bitcoin to make it inherently secure, and also scalable. Since scalability is an issue for most blockchain companies as more users start to onboard, SysCoin looks well placed in this regard.
If you’re the type of person who enjoys a good haggle or barter, you’ll love Listia. What makes this platform stand out is the fact that you don’t need any money–virtual or otherwise–to sign up.
Listia is a bartering platform that allows people to trade the stuff they don’t want anymore for things they want now. So, if you regret buying the new iPhone X but don’t want to take a loss on it, you can simply trade it for something else of equal value.
Almost. It’s a little more complex than that. You place the items you want to trade on Listia. When people buy them, you get paid in Ink cryptocurrency (XNK). You can then use your XNK to buy whatever you want on the site.
The company has been around for a while now, originally operating with fiat, but they’re integrating blockchain tech into their business model. This is being done not only through cryptocurrency but also through blockchain’s ability to verify user reviews and history.
One of the oldest legal decentralized marketplaces around, you may have heard of OpenBazaar. Winner of the Toronto 2014 Hackathon, OpenBazaar was initially intended to be a dark marketplace for selling illicit goods. However, when a new owner took control of the project, it became the open, fee-free marketplace that we know it as today.
OpenBazaar is interesting in a few ways. It uses Ricardian contracts and Bitcoin’s Escrow multi-signature feature to settle any payment disputes. The buyer and seller must select a mutually trusted third party to release their funds and nothing is transferred until two out of three parties agree on the transaction.
To use OpenBazaar, you need to download the program to your computer, following which, you can set-up and manage your own storefront. You can buy and sell whatever you want, from artworks and sunglasses to accommodation listings, with no commission fees at all. What’s more is that OpenBazaar now accepts 50+ cryptocurrencies as well.
So, before you hop onto Amazon or Etsy to buy your next gift or purchase, why not check out these commission-free cryptocurrency marketplaces instead?