Cryptocurrencies can now be traded on the peer-to-peer online marketplace Openbazaar in addition to physical goods, digital goods, and services. Initially, 44 cryptocurrencies are supported but the development team plans to add more over time. There is no fee for trading cryptocurrencies and no need to register with any service.
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Crypto Trading on Openbazaar
Peer-to-peer e-commerce platform Openbazaar’s development team, OB1, announced this week that fully decentralized, fee-free cryptocurrency trading is now available on the platform with the release of Openbazaar version 2.20. The platform previously had three types of listings: physical goods, digital goods, and services. “We’re now adding a fourth: cryptocurrency,” the team emphasized, elaborating about the new software version:
The biggest new feature is the ability to buy and sell cryptocurrencies. Vendors are now able to use a special new listing type to sell cryptocurrencies on Openbazaar. They can choose from 44 different cryptocurrencies right now and more will be added over time.
The main benefits of using Openbazaar to trade crypto, as detailed in the announcement, is that there are “no fees, no need to register with any service, and no threat of an exchange getting hacked,” so users “aren’t forced to reveal any identifying information.”
“We’ve released this new feature with the goal of listening to the community about how they believe cryptocurrency trading on Openbazaar can be improved. We plan to rapidly iterate as we receive feedback from users,” the OB1 team conveyed. They also shared that since the launch of the crypto trading option, “we’ve seen users on the Openbazaar network from more than 60 different countries.”
Not an Exchange, No Order Book
However, the platform is “completely peer-to-peer” so “this is
