We all know how disappointing it is when we couldn't get what we need at a moment that we are in dire need of that thing. Imagine at a time you needed to buy some ingredients you forgot to buy earlier for a birthday cake that is meant to be delivered to a client within the next 24 hours, and then you ordered for that ingredients online due to your busy schedule, but then it takes forever for your payment for the ingredients to get confirmed. How would you feel in that scenario? Very bad of course because that has definitely caused you a fortune in your catering business since you won't be getting that ingredients until there is a confirmation of your payment.
This particular scenario and a host of others is exactly what a good number of us are facing when it comes to the buying and selling of both physical and digital products. This is exactly what a team of intelligent and passionate individuals of like minds thought of and decided to come up with a solution by building a unique and decentralized application known as "BitStash Marketplace".
What is BitStash Marketplace?
BitStash Marketplace is a decentralized cryptocurrency marketplace for efficient, quick and easy purchase of products with cryptocurrency. The BitStash Marketplace came into existence when a small group of investors in the first month of 2018 decided to actualize their huge idea of building a decentralized application that helps to facilitate both online and offline transactions at the shortest time possible. The BitStash Marketplace is powered by the BitStash native cryptocurrency called STASH. There are currently over 1,500+ products that can be purchased on the BitStash marketplace with the STASH token or other cryptocurrencies.
How Does BitStash Marketplace Works?
Just as I said earlier, users can buy or sell products, services or goods on the bitstash marketplace. Once a transaction is initiated on BitStash, the transaction is sent into an Escrow Smart Contract. You as a purchaser then release the transaction with respect to the products or goods you want to purchase. This record of activities is captured within the payment solution of BitStash and passed along to the vendor as a new order or transaction for the product or goods to be purchased. The vendor go forth with delivering the products and a tracking information is provided to the purchaser. Once this is confirmed to be received by the purchaser, the appropriate party will be given their funds. The steps can be simplified as follows.
For Buyers
Register for a BitStash account as a Buyer.
Set up your Metamask wallet on Chrome, Brave or Firefox Browser by using this link.
Acquire STASH, ETH or any ERC-20 Tokens from various cryptocurrency exchanges. Make a transfer of the crypto token to your Metamask wallet which you will need to connect to the BitStash Marketplace so as to perform transactions on the platform.
Search for the products you wish to purchase, and place them in the cart to checkout. But, do not forget to install and unlock your Metamask for it to checkout. This will allow you sign the transaction and make a deposit of your STASH or ETH token into the safe escrow system of BitStash.
The vendor will be notified of your order immediately the checkout is completed and payment is confirmed. A shipment will be provided for you at this point and you will be given a tracking number for your order or transaction.
Once you receive the item, login into your account and mark the ordered product as received. This will mark the order as being completed and funds will be released to the vendor.
For Vendors
Register on BitStash Marketplace as a vendor
After you are approved, you should got further to create a product listing on the bitstash marketplace.
Keep an eye out for new orders that are coming in and make sure only records of paid orders are kept within your vendor dashboard.
After you have been notified of a paid order within your vendor dashboard, you prepare a shipment for the product to be purchased and make sure every shipment is sent along with their tracking number.
Once the purchaser get his products and login to mark the order as completed, you will be notified via the email for an incoming payout to your Ethereum ERC-20 wallet which you supplied on the platform.
Why I Like BitStash Marketplace
It Is Affordable and Transparent
Zero Buyer Fees
24/7 Customer Service
Highly Secured Transactions
It is easily Accessible
Powerful Search Engine
It allows Cryptocurrency Payment
Why I Do Not Like BitStash Marketplace
Low traffic on the platform which makes it hard for vendors to find buyers for their products on time
The STASH token Is listed on very few exchanges
Conclusion
BitStash Marketplace is definitely a very efficient and unique platform which is currently ranked 265 on the State Of The Dapps and it is created to bridge the gap between buyers and sellers in order to enable an healthy buying and selling environment where buyers get exactly what they need at the time they need them without any delay. However, more needs to be done to ensure the growth of the platform and bring in more buyers so that vendors get to sell their products on time.
Therefore, I will be rating them 3.5/5