Buy or Sell Stuff With Cryptocurrency - List of Crypto P2P Marketplaces
Using cryptocurrency to buy goods on P2P marketplaces can usually save you quite a bit of money. During my search to find all these different crypto marketplaces, I've noticed that there actually aren't that many options. Most of these services that do exist either don't have many users or they are rifled with spammy offers.
There are however a few interesting marketplaces to be found, some of which might have a very bright future ahead. I'll be looking at some truly decentralized P2P marketplaces, but also some regular old-fashioned websites that allow people to buy and sell goods for cryptocurrency.
Safety Precautions
Since we're dealing with strangers on the internet, it's always a good idea to use escrow whenever possible. You don't have the option of issuing a chargeback when you're paying with crypto, so try to find merchants that have a good reputation. When downloading software like OpenBazaar or BitBay, always make sure that you're getting it from the official website.
List of Crypto Marketplaces
BitBay Market
BitBay is looking to revolutionize the future of decentralized marketplaces, they want to facilitate P2P trade through the power of smart contracts. What this means is that both buyer and seller lock funds into a smart contract, only to be released when all conditions are met. They have a few interesting categories, such as job listings and offers for bartering. Bitbay also uses their own token for use in the platform, BAY on Coinmarketcap.
I've personally had some trouble viewing the existing listings on their application. To view everything, the entire blockchain has to be downloaded, that process is very slow for me. I have read on their roadmap that they're planning on building a web-interface this year, so I'm looking forward to using that.
Bitcointalk Market Boards
Once again we end up at the Bitcointalk forum... This marketplace probably has the most active user-base, you can find almost anything there. Looking for collectible coins? No problem, they have a board for that. Also great for getting a cheap second-hand crypto miner.
Most of the listings there might be crypto-related, but you can definitely also find good deals on just about anything. I would definitely recommend checking this out from time to time, I've found some really interesting items there over all these years. Do always use escrow!
Bitify
Bitify is a regular marketplace website where you can buy or sell goods and pay with either Bitcoin or Litecoin. They offer escrow on their website and members have their ratings displayed next to their profiles. You can find both physical as well as virtual items on Bitify, but I've noticed that there are a lot of vouchers for sale.
The quality of the listings isn't too great here and I would be afraid to accidentally buy items that were obtained through fraud. Seeing so many discounted vouchers among the listings if a huge red flag for me personally.
OpenBazaar
Openbazaar is currently the most used and stable decentralized P2P marketplace out there, in my opinion. Once you've downloaded the OpenBazaar app, you can immediately start browsing the thousands of listings. They support over 50+ different cryptocurrencies and also offer escrow to ensure buyers aren't scammed.
I really love where OpenBazaar is going. I've been following this project for a couple of years now and they've continued to improve their software with every update. Using the OpenBazaar application is fairly easy for new users, but I would recommend reading about all of its features first..
Bitmarket Subreddit
This is a fairly active subreddit where you can buy and sell almost anything for crypto. This place isn't that active anymore and you'll mostly find offers to buy or sell cryptocurrencies. Sometimes you can come across some interesting items though. You'll see a couple of offers being made every day.
Additional Notes
I really wish that I could have added even more crypto-exclusive marketplaces, but there just aren't that many around. Perhaps we'll see more Ebay or Craigslist competitors pop-up in the future, but for now your options are fairly limited.
Some projects such as OpenBazaar and Bitbay are a significant step in the right direction, but are still far behind established platforms.
Overview of all my lists
- The Best Crypto Advertising Networks
- Let's Talk About Universal Basic Income (LIST of UBI coins!!)
- Find Jobs That Pay in Crypto - BIG List Of Crypto Job Boards
Let me know what you think in the comments and consider upvoting or resteeming if you like this type of content!
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Thanks for sharing this. It's great that there are places where we can actually use cryptos to buy actual things. You are right that there is a long way to go, but we are still in the early stages. Someday you will be able to buy anything and everything with crypto. There is a lot to look forward to.
You forgot #steembay!
Oh dang it, I knew there was something on steem, but couldn't remember the name. I'll add it later today :)
We are working on something but it is very beta.
Thanks for sharing this! When I get some more steem saved up I will have to transfer and look into these :)
Also @IFC has started their own marketplace within the community where people are offering goods and services in return for Steem!
Very good article, keep up the good work! I followed you, I hope you will follow me. Together we will be able to develop much faster on Steemit. Upvoted your post!
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I fully expect decentralized marketplaces to spring up and take hold relatively rapidly, almost undoubtedly in the next two years. The blockchain tech is capable, it'll be up to individuals to figure out the how.
Thanks for a great list, it's always nice to have.