BWC Marketplace (BWC = Buy With Crypto) - Coming soon!

[BWC Market]

Hi Guys!

Im a one man band and I would like to hear some opinion about a marketplace (Etsy style) which i already built, but its not released yet.
The reason that i didnt release it yet, is that i would like to make it as much as friendly as possible to everyone involved (buyers&sellers).

So... First things first...

1. Im a newbie here...I know! But im a grown one with family, kids and strong sense of responsibility!

2. Everyone here is talking about escrow service. I totaly understand and im working on that very hard. I have been scammed couple of times and i know the freakin feeling!
Thats why im cooperating with escrow service which is willing to help me bypass this final obstacle in lets say around 4-5 weeks. Devs are working on it already

3. My marketplace is multivendor Etsy style (not like classified ads) and will support as many crypto currencies as wanted by users. Sadly all wont be supported for escrow service.

4. Im going to offer 2 options to users. Monthly subscription for those who would like to use escrow service or fixed commission (trust me its going to minimum) to buy/sell directly through marketplace.


Now I would really want to hear something from you guys. Be it good or bad it wont affect me to give up on this project. I just want to hear your needs, desires, opinions, proposals and any ideas which could help to make this marketplace friendly to crypto lovers.

If there is going to be a demand or a will to test it out i will gladly open it immediately, but be aware that escrow is coming in 4-5 weeks!
Anyways...it would be nice to see it live and how it works

Thanks in advance to you all!

Alex

[1714695565]

1714695565

[SFR10]

Thats why im cooperating with escrow service which is willing to help me bypass this final obstacle in lets say around 4-5 weeks. Devs are working on it already

Do you happen to know if the devs will choose escrow from the community itself or from outside?
- Just to be clear, I'm not promoting myself ^{[I won't accept such deals]}.

3. My marketplace is multivendor Etsy style (not like classified ads) and will support as many crypto currencies as wanted by users. Sadly all wont be supported for escrow service.

Then you should only accept crypto-currencies that are supported by your escrow providers.

4. Im going to offer 2 options to users. Monthly subscription for those who would like to use escrow service or fixed commission (trust me its going to minimum) to buy/sell directly through marketplace.

Over the years, I've seen a lot of marketplaces that fall into that category and only a few have survived. What makes yours different from the rest?

[BWC Market]

Hey "legendary" SFR10,

1. Im very happy that someone actually looked here and commented/asked questions

2. I hope there will be much more

3. Q/A:

Q: "Do you happen to know if the devs will choose escrow from the community itself or from outside?"
A: I know exactly which escrow service i will use and their devs is helping me with integration. Im still open to any other suggestions regardless of escrow service integration developing already in progress. Maybe its really better to offer couple of different escrow services from which people can choose from and trust most.


Q: "Then you should only accept crypto-currencies that are supported by your escrow providers."
A: Maybe you are right. Thats what I was thinking but lets see other people responses (if any).

Q: "Over the years, I've seen a lot of marketplaces that fall into that category and only a few have survived. What makes yours different from the rest?"
A: Which category you mean? Subscription or commissions? Will answer after you


Thanks SFR10! Really appreciate your comments!

Alex

[SFR10]

Maybe its really better to offer couple of different escrow services from which people can choose from and trust most.

That'd be great.

A: Which category you mean? Subscription or commissions? Will answer after you

I meant the part I "highlighted" but to answer your question, most marketplace were commission-based ^[AFAIK]. The subscription-based model is only suited for those with a lot of buy/sell orders ^{[not a good choice at the beginning, mainly due to lack of traffic on the marketplace itself]}.

Thanks SFR10! Really appreciate your comments!

You're very welcome

[BWC Market]

Hey SFR10!

You are the only one reading this post? LOL

Hmmm...i was thinking a lot yesterday before i went to sleep.

Etsy is taking commissions and its still alive. My marketplace will be based on Etsys model (multi vendor) where anyone can open his own store. So why not using their model? Amazon and Ebay....same story, but crazy commissions. I sold pretty expensive thing once on ebay and i was shocked!

Anyway...you might be right about other marketplaces taking commissions and sink or whatever (maybe exit scam??), but im not sure which model and marketing strategies they used.

Im leaning more towards subscriptions (monthly, yearly) for a start even if you dont recommend. But i would launch the market for a first month or two for free, take absolutely nothing and then see what will happen.
I will try with all possible user friendly services/services combinations if needed to satisfy the buyers&sellers. Im sick of people just talking how we need this kind of marketplace and there still actually isnt any (at least not major one).

A lot of my free time was dedicated to make this marketplace, months and months of work and I would really like to see it getting somewhere

[ChrisPop]

As far as I know Etsy is pretty similar to Ebay.. I think it is a great idea and I would love to see a "bidding" feature like on eBay. If you are not familar with it it works like this: Seller lists an item and includes the bidding feature + a Buy Now price of $10. Then Buyer A comes and bids $2.50, then Buyer B overpasses him with a $2.60 bid. The last bid at the end of the bidding period wins the right to buy the product at the bidded price.

I would love to see that feature and be able to pay with BTC or other cryptos. Wish you good luck and I'm looking forward to see it live!

[BWC Market]

Hi ChrisPop

Thanks for getting in here with some nice and positive feedback

Yeah Etsy/Ebay...pretty similar. But as i said...based on my own experience they have way too high fees (at least Ebay).

Bidding is a great idea How come i didnt think of it before?! Or maybe I was and I thought it wouldnt be interesting enough...hmmm. I Will try to integrate this feature and let you all know how it goes

What is your opinion about subscription plans and/or fees?


Thanks
Alex

[BWC Market]

Good news for you ChrisPop

Bidding and Buy now features can/will be available

Alex

[BWC Market]

Here is a sneak peek how user wallets are going to look and what options they will have

[Harlot]

One thing that I have seen why marketplace fail is the number of scammers and poor sellers lurking around in your service, this is enough for the wanted buyers to stay away from them. So really if you won't be handling any kind of logistics and the way will work is they will just simply post what they are selling it would just create an environment where people will just transact directly without any of your help. It's just like you are just posting the things you want to sell on Facebook's own marketplace which wouldn't be any different alone. Escrow really won't be enough since what other e-commerce website I see is they also handle not only the shipping of the product but also the returns of the broken, fake, or wrong items. This creates a much more guarantee for both the seller and buyer not to scam each other since you as a service is much more involve in each transaction.

[BWC Market]

Hi Harlot

Thanks for your feedback

I think we all agree on everything you just said. That was something that was bothering me most.
But on the other hand if you look at the Etsy for example...what logistics do they offer? They simply cant, because they arent holding things which are selling on their marketplace (I really didnt check in details on their site). Scammers can be there also (and im sure they are...actually they are everywhere if u ask me), but still people are selling and buying there and on many other marketplaces big time.

Now for the next step i believe its really important to make something similar (global marketplace) for crypto-people.
Im taking in account all your constructive ideas and proposals and will try to make as safe "ecosystem" as possible.
Are there any buletproof marketplaces against the scammers?

Alex

[Harlot]

Hi Harlot

Thanks for your feedback

I think we all agree on everything you just said. That was something that was bothering me most.
But on the other hand if you look at the Etsy for example...what logistics do they offer? They simply cant, because they arent holding things which are selling on their marketplace (I really didnt check in details on their site). Scammers can be there also (and im sure they are...actually they are everywhere if u ask me), but still people are selling and buying there and on many other marketplaces big time.

Well the different thing about Etsy is they are not just a marketplace for the seller since they also offer other services that can be useful for a true seller. Features like analytics, management tools, and support at also provided by their service everytime you list your item making it more useful for any true sellers out there. Based on how you describe your service you will just offer up a website where users can buy and sell. It sort off like Ebay where scammers are also often found. But nevertheless this is just my opinion and maybe I'll be wrong with it but one thing is for sure is that you need to have a unique marketplace where you can beat the others to hopefully gain some market share of your own, without that you will barely have any activity going on in your website.

[BWC Market]

Hi Harlot

Thanks for your feedback

I think we all agree on everything you just said. That was something that was bothering me most.
But on the other hand if you look at the Etsy for example...what logistics do they offer? They simply cant, because they arent holding things which are selling on their marketplace (I really didnt check in details on their site). Scammers can be there also (and im sure they are...actually they are everywhere if u ask me), but still people are selling and buying there and on many other marketplaces big time.

Well the different thing about Etsy is they are not just a marketplace for the seller since they also offer other services that can be useful for a true seller. Features like analytics, management tools, and support at also provided by their service everytime you list your item making it more useful for any true sellers out there. Based on how you describe your service you will just offer up a website where users can buy and sell. It sort off like Ebay where scammers are also often found. But nevertheless this is just my opinion and maybe I'll be wrong with it but one thing is for sure is that you need to have a unique marketplace where you can beat the others to hopefully gain some market share of your own, without that you will barely have any activity going on in your website.

Hey Harlot

You may misunderstood....i will offer same features like you mentioned "Features like analytics, management tools, and support". My marketplace wont be just like classified ads.

Everything is set up already.

Alex

[SFR10]

You are the only one reading this post? LOL

I'm no longer the only one

Here is a sneak peek how user wallets are going to look and what options they will have

https://imgur.com/a/GOK1Qds

It appears that we're not allowed to choose TX fees ^{[greyed out button for fee]}, am I right?
- If the answer is "YES", then you should probably adjust that part.

[BWC Market]

Thats perfect What im really impressed about is that im getting responses from legendary and hero members, which i believe is a good sign. Im getting more and more optimistic

"It appears that we're not allowed to choose TX fees ^{[greyed out button for fee]}, am I right?
- If the answer is "YES", then you should probably adjust that part."

Users will pay this fixed amount per each withdrawal. But im not allowed to set a fee lower than what's imposed by the platform which im using :/  I can set it higher though
How did you imagine to choose TX fees? Can you explain in short?
Cause for now im able to adjust withdrawal and internal move fees for myself. As i stated before... withdrawal fees are now set to minimum (amount depends on which crypto you want to withdraw), im only able to adjust internal move fees (from 0% up) which are 0% and will stay this way.

Thanks
Alex

[SFR10]

I can set it higher though

Ouch haha

How did you imagine to choose TX fees? Can you explain in short?

Most platforms tend to use a fee a lot higher than the required fee for TX ^{[especially when it comes to bitcoin TX]}. You can choose the appropriate fee based on the amount of unconfirmed TX with the help of the following services:
- Unconfirmed TX
- Bitcoin Fee Calculator
- PREDICTING BITCOIN FEES FOR TRANSACTIONS

[BWC Market]

Ok...Here are my current WITHDRAWAL fixed fees:

BTC = 0.0003
LTC = 0.006
BCH = 0.003
DASH = 0.003
ETH = 0.003
RVN = 0.01
XMR = 0.03
XVG = 0.3
ZEC = 0.003

Are these high? I really dont have time right now to check your links (fashion retouching job haha), but will surely do in couple of hours.
Im also able to set proportional withdrawal fees instead of fixed if that helps.

Also thinking about running own nodes in the future for each crypto used in marketplace. But thats a different story...


Thanks
Alex

[ronaldo40]

Im also able to set proportional withdrawal fees instead of fixed if that helps.

i think adding this feature will be very helpful if you can add a few options that the user can choose
so usually there is a user that wants to get the fastest confirmation on the blockchain so highest fees will be good but usually, there is a person that want to withdraw with the lowest fees as possible

[BWC Market]

Damn...another "Legendary"

What kind of options do you have in mind?

Thanks for your suggestion ronaldo40!

Alex

[ronaldo40]

Damn...another "Legendary"

What kind of options do you have in mind?

Thanks for your suggestion ronaldo40!

Alex

maybe an option like below

• Fastest 0.0005BTC
• Normal 0.0003BTC
• Low 0.00005BTC/0.0001BTC

i already saw this option used by another website and many of their users like this option but it's up to you to put the amount for each option