What is OpenBazaar
OpenBazaar is a brand new way to do online commerce. It's decentralized marketplace with no fees and no restrictions.
How does it work?
OpenBazaar is a peer-to-peer network, which means that data is distributed across the network.
No fess & restrictions? How?
OpenBazaar is not controlled by anyone, it's open-source software. It's purpose is to provide everyone with the ability of selling and buying freely.
Supported payment methods
Pay with 50+ cryptocurrencies, including : BTC, ETH, LTC.
Seller receives payments in BTC.
Pros
- No Transaction Fees
- No Monthly Fees
- No Listing Fees
- No Bank/CC required
- Ability to customize your shop
- It's Peer-to-Peer (no middleman)
Cons
Since the market is not controlled by anyone, i personally think, darknet sellers will take advantage of that. The attributes of OpenBazaar are much more better than any other darknet marketplace.
Easy to setup
OpenBazaar costs nothing to download and use, there are no hidden fees and every trade is p2p.
Download the software, run the installer and list your items in a minute.
Cryptocurrencies
OpenBazaar uses Bitcoins, which is leading cryptocurrency. Cryptocurrencies are not tied to identity, they do not cost money to accept.
Secure Escrow and dispute resolution
OpenBazaar uses multisignature. Both buyers and sellers agree to a mutually trusted third-party before starting a trade.
Livechat
Every user of OpenBazaar network has access to encrypted chat feature, that means that buyers can ask sellers about their products and sellers can confirm shipping of orders. If there is an dispute, all parties can talk to a trusted third-party and find a fair solution.
News
- Recently, OpenBazaar has been raised $200k in funding from investment firm DCG.