The marketplace of bitcoins is quite wide. People can easily purchase any product they want, all thanks to bitcoins. The different marketplaces of these digital currencies allow users to sell their products and get cryptocurrency in return.
This digital marketplace has a lot of sellers and buyers. The interesting fact about this is that every one of them is searching for something unique, something fascinating. Where the group of people increases, it means that the variety of the products also increases. Be it cars, luxury products like watches, or anything else, every single product has different prices.
Take the crypto exchange marketplace as an example. Here, users can easily purchase or sell cryptos like bitcoins or other altcoins. Which seems to be the future of business with cryptocurrency.
Now, when it comes to selling products, all of you must know about receiving cash in exchange for products. Imagine how great it would be if you can get bitcoins every time you sell any product. A quick and incredible way to earn bitcoins is to find the platform that will help you in selling your products. Here’s how it works:
The procedure to sell your products for bitcoins is similar to selling your products for PayPal, cash, etc., on eBay. What people normally do is that they post an ad on their website that lists out their items and describes them. Then, buyers who are interested in buying it can make their bid or contact you directly. You can visit here to buy bitcoin in Australia.
Suppose that the item you want to sell can easily be downloaded or is so small that it can be shipped. Then, what will happen? Would you still have to meet your buyer physically and get to trust him? Not a chance. If you want to sell an item at a high price like real estate, car, etc., you will have to schedule your appointment so you can meet whoever wants to buy it and then lock the deal.
Now, coming to the real technical part. Once the deal is made, do you think that it’s safer to ask the buyer to purchase bitcoins first, and then the seller will ship the item?
Every seller has the right to make their own terms whenever they put an item for sale. You can ask the buyer to send bitcoins if you want or you can share the item first. However, the ideal thing is to establish a strong position in your market first. Once the buyers get to trust you, they will send the bitcoins right away. Moreover, the buyer does not have any safety or buyer protection against aimless, unmotivated sellers.
You Can Use Escrow
Using a third-party service always comes in handy. When there is a buyer and seller in the marketplace, it’s always good to involve a third party which may add a small cost out of the total percentage. However, it strengthens the bond between sellers and buyers who want to use the Escrow service. It helps in the following things:
- The buyer puts in a few quantities of bitcoins with the help of a well-known third-party service. The name of the service is escrow. This proves that buyers always have money to buy whatever they want.
- Escrow also sends a notification to the seller whenever a bitcoin is deposited into the account of the buyer. In this part, Escrow generally utilizes all the fees which might be paid by different sellers or buyers.
- When the buyer finally gets the products and starts discovering them, they reach out to the escrow service so that bitcoins are released quicker than the seller.
- Escrow also shares bitcoins with whoever is selling them.
In case there is a disagreement, for example, if the buyer says that the products had not reached his height, the service will have to find a solution. Since you are selling them, you should start making an attempt to make a video or prepare a document and then validate if the products you have are being sold traditionally or not.
To conclude, there are a lot of perks and cons of cryptocurrencies. Their price fluctuations, market range, and all other trends need to be considered before you invest in them.