Second-hand marketplace with smart contract payments launches in beta

Vancouver-based startup eShopCrypto has introduced a trailblazing online marketplace for buying and selling a wide variety of items, using cryptocurrency for transactions. By leveraging T2tkn's smart contract payment system, the platform aims to minimize the common risks associated with online marketplace purchases.

The prevalence of scams in online marketplaces is well-known. While eCommerce giants like Amazon provide a safe environment for purchasing from larger retailers, regular consumers buying or selling the occasional used item are often under-served.

Traditionally, the safest way for two strangers to complete a transaction after meeting on marketplaces is to connect in person and exchange items for cash. While generally considered the best practice, it limits buyers and sellers to a small local radius and still poses potential safety risks.

Smart contracts provide a solution. Events such as depositing funds or confirming that a product has shipped can be verified on the blockchain, significantly limiting the abilities of bad actors. With eShopCrypto, when sending money to a seller, for example, your funds are securely held in the smart contract until you've verified the item's receipt. The platform is designed to protect both buyers and sellers, and the company provides plenty of details about how it does so on its how it works page.

To enhance security and trust, eShopCrypto has implemented Jumio's know-your-customer (KYC) processes for user verification. This added layer of security helps ensure that users on the platform are genuine, further reducing the risk of scams and fraudulent activities.

The company also offers user-friendly features and benefits that set it apart from traditional online marketplaces. Its use of blockchain technology ensures secure transactions, eliminating the need for third-party escrow services, and provides users with peace of mind. Additionally, eShopCrypto's model offers lower fees compared to other marketplaces. Reduced overhead costs result in savings for both buyers and sellers.

eShopCrypto is now live in beta, and features a growing number of listings. It plans to continue its beta program for the next six months to gather valuable feedback. The platform caters to a diverse array of interests, making it a one-stop shop for users wanting to trade safely online. So far, the platform has attracted listings in categories such as second-hand clothing, collectible toys, and electronics, and it plans to accommodate a wide range of consumer goods.

High-priced items like watches and jewelry could become a key segment, as these rare objects often require buyers to search beyond their local area. With easy shipping, purchasing a pre-owned luxury watch from across the country would give consumers more options. Currently, there is no ideal solution for transactions like these.

eShopCrypto aims to support such sales in the future. By addressing the challenges in the current marketplace, and offering a secure, user-friendly platform, the company aspires to revolutionize how people buy and sell second-hand items.

Users can now join the beta program, and experience the benefits of a secure, cost-effective, and user-friendly platform for trading pre-loved goods. eShopCrypto's use of blockchain technology, low fees, enhanced KYC processes, and diverse product categories make it the ideal marketplace for buying and selling with ease.

Learn more at www.eshopcrypto.com.