The Problem with Centralized Services
When you use a centralized service such as eBay, Amazon or even Craigslist to buy or sell products, you have to agree to follow their rules. In many cases, this includes limiting the amount of items you can list, forcing you to use payment platforms such as PayPal or credit cards that take a percentage of every transaction, and requiring you to provide your personal information that can later be hacked and stolen by identity thieves.
Bitbay is the solution
The BitBay platform is set to completely decentralize the way merchant services and online auctions are done through the internet. BitBay will provide much of the world with a first taste of how crucial it is to utilize the blockchain technology when doing business between two parties. Never again will there be a lost contract, invoice, receipt, will, notary, or any other binding agreement. It’s all there, searchable, and completely transparent, and because it is decentralized, it can’t be shut down because of a server failure, or a company going bust. The BitBay market will always be there.
BitBay will feature its in-wallet marketplace much like Amazon, Alibaba, and eBay which will utilize it’s own cryptocurrency (BitBay). BitBay users will be able to buy or sell products, art, skills, talents, or any other valued commodity.
The BitBay project weaves together Smart Contracts, Multi-Sig technology, and Reputation Vetting all tied into a unbreakable marketplace located on the BitBay Blockchain. The power of such a marketplace has no boundaries. This is the revolution of free trade.
Eliminate High Transaction Fees
When you use BitBay’s software to interact with other buyers and sellers online, there’s no centralized third party to act as the middleman for your transactions. That means you don’t have to pay high fees, a percentage of your sales, or any other unnecessary or unfair “costs of doing business”.
With BitBay, nobody ever takes a cut of your money. The entire transaction is between you and the person with whom you are doing business. BitBay is completely FREE software, there are no fees. Compare this to fees of 5%, 8% or even 11% or more depending on which mainstream centralized marketplace service you use.
BitBay saves you money on every transaction by eliminating the payment processing fees and other unfair charges some websites require you to pay. That makes BitBay the perfect choice for merchants trying to grow their businesses, especially those operating on extremely low margins.
By allowing merchants to reduce their costs and increase their competitiveness, BitBay levels the playing field and helps emerging markets develop in a more natural way.