Good day everyone, i would be writing about a very interesting platform today which goes by the name BITSTASH PLATFORM.This is the first marketplace to buy and sell Bitcoin and Cryptocurrency.Today i would be writing on the following ;
a) WHAT IS BITSTASH?
b) PROBLEMS AND SOLUTIONS
WHAT IS BITSTASH ?
BitStash is a peer to peer (P2P) crypto commerce marketplace which enables buyers and sellers to
purchase or list products, goods or services.The BitStash platform provides a simple and secure
marketplace for users to transact seamlessly between each other and with the trusted protection
provided by our escrow system.16.8 Trillion USD is spent annually for products, goods or services all around the world.
The e-commerce industry is growing rapidly and it is becoming easier to transact across borders. This opens
the door for BitStash to scale globally and provide millions of people around the world the opportunity
to open an online store and earn cryptocurrency; economically developing countries can
greatly benefit from this. BitStash will be implementing several language translations for ease of use
for all users across our platform.
PROBLEMS
The followings problems encountered are listed below;
a) Cryptocurrency not accepted:
Cryptocurrencies and digital assets have remained unused by mainstream marketplaces and
stores. This is significantly reducing the awareness, adoption, and usability of Cryptocurrency as a
whole.
b) High monthly & transaction fees:
Not only is it very hard to find places that will accept cryptocurrency, but if you are a vendor, manufacturer,
wholesaler, or retailer, it can be expensive to sell your products online. Lots of the popular
marketplaces require a monthly subscription to be paid in order to sell on their platform. For
example, Amazon, Shopify, eBay, Alibaba, etc. In addition to their monthly selling fees, users on the
various platforms are also subject to their processing and transaction fees that take away from the
vendor’s or seller’s profit.
c) Extremely one sided resolution process:
It is very typical for marketplaces to be one sided when attempting to provide a resolution to a
dispute. They tend to trust large vendors, even if you have been with them longer. Things do sometimes
get misplaced or forgotten about; however, just because a large vendor or customer
declares they are right does not mean that is the ethical course of action.
d) Existing crypto-marketplaces require downloads & complicated setup:
If you are savvy enough to find other cryptocurrency marketplaces online, then you have found
that just about all of them will require you to download and install their program to run the client.
This can be extremely confusing for some vendors or customers, and reduces the overall experience
that is already natural for most consumers. Most consumers will completely lose interest and
move on to something else that is more convenient and easily accessible, which in turn will greatly
reduce the opportunity for vendors and sellers to earn a sufficient stream of income via their marketplace.
e)Large and Small marketplaces often tend to charge a high rate for advertising on their platform:
They are not transparent at all when it comes to their “Organic and Paid” displays.There are some options that are sponsored; however, in many cases when you, as a seller, are a paying an advertiser
to advertise select products, the products that are not being advertised will appear higher in
search naturally.
SOLUTIONS
The solutions to the above problems are listed below;
a) Lowest possible marketplace fees
Their current fee rate will never increase. In fact, they will only decrease over the course of time. The
marketplace seller fees will not be a monthly subscription, but will pay a maximum of 3% of the
total order.
b) Payments Accepted (Bitcoin, Ethereum, STASH, & more)
Currently, BitStash can process payment in Bitcoin and Ethereum. After the crowdsale, they are
working to develop the internal exchange and integration of STASH Tokens. Before the end of the
crowdsale, they will be listing three additional tokens, which can be used for transactions on the
BitStash Marketplace.
c) Resolution Center / Returns & Refunds
The security of your cryptocurrency is something they will prioritize and take very seriously. There is a lack
of trust on the internet, especially within the cryptocurrency space; which is why they have designed
and implemented our cutting-edge escrow system. This ensures delivery of product orders and
payments. In the event that an ordered item is not delivered or can’t be verified as delivered, they
will not issue funds to the vendor.
d) Product Advertising and Placement
Ads can be slightly annoying at times, however, they have created a sustainable model where
advertisement occurs seamlessly within our marketplace. Advertisers will be able to purchase what
will be called “ad slots”. Advertisers will need to utilize STASH Tokens to start advertising. Advertising
will be based on a first come first serve and will be a fixed price in tokens. All advertisements must
meet BitStash standards and must not be in violation of BitStash Terms & Conditions.
e) Web & Application Clients
BitStash has a 100% functional web application that can be accessed from all computers, mobile
phones, and smart devices that have internet connectivity. This allows BitStash to reach the mainstream
consumer base. Any vendor that does not wish to download or install any programs on their
machine can avoid this completely. In addition, you can easily login anywhere within the world as
long as you have an internet connection.
THANKS FOR READINGS.
To know more about this platform;
visit the website: https://bitstash.co/
join the telegram group: https://t.me/bitstashmarketplace
whitepaper link: https://bitstash.co/wp-content/uploads/2018/05/bitstash-whitepaper.pdf
my bitcointalk link: http://bitcointalk.org/index.php?action=profile;u=1070043
ANN/BOUNTY THREAD LINK: https://bitcointalk.org/index.php?topic=3755105.0
facebook link: https://www.facebook.com/BitStash-Marketplace-170184787153225/
twitter link: https://twitter.com/bitstashco