Sell anything in exchange for cryptocurrency
There are quite a few different projects in this arena. For example, eBay-type marketplaces, e-commerce payment gateways, decentralised P2P markets, and even recycling goods services. It’s only natural that we need to see more integration within commerce for cryptocurrency to truly be ubiquitous as a payment method. Here are a few examples that deserve a look.
Formerly known as junktion.io, forra.io is an online marketplace to buy and sell good using crypto. It started life providing the single service where users could send their old goods (junk) to forra in exchange for crypto (BTC, LTC, BCH, ETH) – hence the name junktion. Since then they’ve rebranded and improved on their minimum viable product by introducing a marketplace for users. Users can sign up and start buying and selling their spare items, best thing is that there are no fees for selling at all – instead the buyer is charged 3% on the purchase and funds are safely mediated by an escrow contract. Forra also encourages people to setup their online stores and are actively recruiting Amazon, eBay and Etsy sellers to the platform.
The service where you can sell your items directly to Forra is still in available. They accept pretty much anything – their philosophy follows the old saying “one man’s trash is another man’s treasure”, however they do have a list of things that they prefer to buy. All you need to do is fill in a form quick form, attach some pictures and Forra will get back to you regarding further information / shipping information. Once the items have been received, inspected and approved, Forra will release the funds. If the items do not meet the quality, or you state the deal is over, you will have to pay return shipping.
This fairly new project has come a long way in a relatively short time and the team are always providing updates on discord and publishing some interesting blog posts. So if you are looking to earn some extra cryptocurrency and aren’t fond of the idea of a garage sale, or are looking for a new audience for your already thriving online business. – Forra could be what you’re after.
Cryptocurrency integration with your e-commerce and retail stores
E-commerce payment gateways offer an easy way for sellers to accept cryptocurrency on their websites. Coinbase Commerce has been around since the start of the year and are already integrated with PrestaShop, WooCommerce, Shopify, Magneto and OpenCart. There are also a few more established offerings such as CoinPayments and Coingate that offer thousands of different altcoin payments and point-of-sale integration for face-to-face transactions in a retail setting.
Auction your goods with Bitify
Bitify is very similar to eBay in that you can not only buy and sell, but auction too – something that Forra does not yet offer in its marketplace. They are the world’s largest Bitcoin marketplace and auction site that accepts BTC and LTC. Set up in 2013, they have listed and sold over 75,000 items and processed in excess of $6m USD through their escrow service. Unlike Forra, Bitify lets you list items for free but charges 2.5% on anything sold, and in comparison they have a wider range of categories from advertising, and automotive to precious metals and real estate.
Truly decentralised, peer-to-peer e-commerce
Open Bazaar is a piece of software that you install on your computer which then becomes your shop front. Users of this marketplace will be using the software client to buy and sell to each other – no need for a middleman like eBay or Amazon that will take a cut. It is entirely free e-commerce. The only drawback is that the computer that is hosting the store will need to be on for other people to browse and purchase from it. However that means that when you are going on holiday all you need to do is power down the computer. Payments are only processed in BTC and the community on the platform aren’t as many as you’d find on the likes of Bitify. In terms of features it is fairly rich, offering a built-in wallet, escrow and dispute resolution, inventory and order management, and live chat. Furthermore it is also open source so anyone can contribute to it or fork the codebase build their own variant.
The online commerce landscape when it comes to the blockchain and cryptocurrency is still somewhat in its infancy. The offerings will become more useful and user friendly with time. If anyone else has come across any other examples of marketplaces utilising the blockchain or cryptocurrency, please feel free to comment below and enlighten the community!