Since Bitcoin was introduced in 2009 and had been rapidly developing for these several years, people had found out that Bitcoin has more potential than just been a kind of electronic currency especially blockchain. The underlying technology of Bitcoin has the unlimited capacity even more valuable than Bitcoin itself. The blockchain technology can be applied in the development of different kinds of application, which have the same characteristic that is decentralization. Indeed, the blockchain technology has been applied to many projects. Using the secured and fast payment method provided by the blockchain technology, BitYo provides the best online market place with major cryptocurrencies as an acceptable legal tender.
BitYo is a peer to peer market place where users can buy and also market their items for sale. BitYo is providing a platform similar to OfferUp, but with a much more benefit as users of the BitYo application can buy and sell their desired products using cryptocurrencies such as Bitcoin, Bitcoin Cash, Litecoin, etc. as the mode of payment.
As such, instead of paying to the website or making payment using bank cards or other known fiat method, now users can make peer-to-peer trades without having to trust any website or individual using Bitcoin and other cryptocurrencies as a trusted mode of payment.
The most valuable currency in the BitYo marketplace is trust, and as a result of this, BitYo is building a local marketplace where the wellbeing of buyers and sellers comes first. The developers are always working day in day out to improve on the quality of service being received by the users. They keep obsessing over every detail of the experience of users, such that buyers and sellers can connect with more confidence. BitYo is a community built on trust and will always hold its community of buyers and sellers to high standards.
BitYo is the simplest, most trusted and secured way to buy and sell products both locally and internationally. The BitYo application comes with a user friendly interface and an easy to use/navigate Menu options which will enhance swift buying and selling of product and services among users. Payment for products and services are secured using the blockchain network.
BitYo is providing a platform whereby users can browse deals on tons of great items from far and near such as phone & tablets; BitYo is providing a platform whereby users will be able to buy and sell mobile phones and also Computer and Accessories, using a secured cryptocurrency as a mode of payment. Furniture and electronics lovers are also not left out as this platform is integrated for all. Parents can also get toys and other baby and kids product for their loved ones.Are you planning to move into a new house? You can also get your home and kitchen appliances from sellers on the BitYo platform.
HOW IT WORKS
1. User Lists item.
On this platform, users/sellers will list the item or items which they are willing to sell including all the necessary details about the product, the condition of the product and also the price.
To get items listed for sale on the BitYo platform, the seller will fill the following requirements:
- The user will fill in the title and/or name of the product which he is willing to sell. The title should be short and well-descriptive of the product, it should not in any way be misleading.
A successful transaction starts with a great post. Sellers are encouraged to include an original photo of the item they are willing to sell and a detailed description. BitYo is a platform built on trust, thus, as a seller, make sure you state the condition of an item, and clearly outline any defects or damage to them.
- Pricing. A user listing an item for sale must necessarily put the price he is willing to sell the product. On this platform, users can list the price in dollars together with its equivalent value in Bitcoin.
Here, the user will also indicate whether the price is up for negotiations from prospective buyers or not.
- Category. For ease of access, the seller also has the opportunity to select a category which best befits the particular item he is putting up for sale, as well as a sub-category for a more tailored and detailed search result by buyers. For instance, a seller willing to sell a mobile phone will list his product under the Phone & Tablets category, while the sub-category can be Mobile Phone or even Android/Windows phone, to be more specific.
- Shipping fee. Here, if the product being listed involves shipping, the seller can indicate to prospective buyers whether the shipping fee is free or as the case may be, whether the buyer has to pay an additional shipping fee to get the product delivered.
- Refundable policy. Here, seller will indicate whether or not there is any guaranty or warranty to the buyers on the product purchased. Similarly, in a case whereby the purchased product got damaged, the seller can indicate here whether or not the goods are returnable or not, and where they are returnable, the number of days for such return policy to be effective and also other conditions to be met.
2. Buyers purchase items using cryptocurrency.
Communication is the key here. Thus, when a buyer sees a product he is interested in, he can open up a dialogue/conversation box which is embedded in the BitYo app for all users.
Here, the buyer can ask more questions about the product from the seller, and in case negotiation is allowed for the specific product, they can do so using this platform. This enables the buyers to get more information as to the condition and availability of whatever they are planning to spend their money on buying.
After chatting and negotiations, the buyer can then proceeds to make payment using the secured cryptocurrency mode of payment, be it bitcoin, bitcoin cash or any other listed cryptocurrency.
The BitYo app is integrated with its own wallet where users can deposit their bitcoin and other alt coins, which can be used in making purchases on the platform. After a successful sale has taken place, sellers will also receive their funds into this wallet. What more? No matter how small or huge the funds in your BitYowallet are, you can easily withdraw them anytime.