Openbazaar: The Decentralized Bitcoin Marketplace Of The Future

Openbazaar: The Decentralized Bitcoin Marketplace Of The Future

While it may not be merely as popular as the ‘traditional’ blockchain applications like the father of them all Bitcoin or the programmable smart-contract-based Ethereum, openbazaar is a unique, open-source, peer-to-peer software that uses cryptocurrencies to shift the power balance in favor of the end-user.

This is why we’ve decided to implement this eCommerce disruptor to our bitcoin Game Deals shop, to give the user the option to buy steam games via a user-friendly, anonymous & truly decentralized marketplace.

To familiarize yourself with openbazaar & use it properly, make sure you read our neat blog post from top to bottom. Are you ready?

What Is Openbazaar?

Grand Bazaar Istanbul, Turkey

First things first: what is this… openbazaar?

Some sources will give you 2016 as the starting point of the project, yet its roots are much deeper and go way back in October 2013, shortly after the FBI seized the notorious darknet Bitcoin market Silk Road.

A Bitcoin programmer, Amir Taaki with some of his friends created an open-source application called ‘DarkMarket’ during a Hackathon in Toronto, Canada. The team soon abandoned the project, but, luckily, it was picked up and revamped by a brand new team of developers led by Brian Hoffman.

Hoffman rebranded ‘DarkMarket’ to ‘Openbazaar’ and, indeed, released the first version of the software in April 2016. Thus, the first real decentralized Bitcoin market was launched, ready to challenge the status quo in today’s eCommerce.

We are now at the openbazaar 2.0 stage with many improvements and a dramatic increase in speed since the project’s inception.

Openbazaar vs Silk Road

Silk Road Darknet Market

Lead project Brian Hoffman wanted to distance the project off from the likes of Silk Road & co. when he rebranded ‘DarkMarket.’

Indeed, giving complete freedom to the users worldwide and not setting any rules meant the darknet vendors could use this unique platform as they liked. The Tor network – known for enabling online anonymity – implementation may very well support the case that states openbazaar is just another Silk Road, however, it’s much more than that.

Openbazaar is a platform where all kinds of vendors and buyers meet, no matter their craft. While this may include darknet-based goods, it is also a perfect place to start selling your own ‘mainstream’ product or service. No pesky commissions & fees and no fear of exit scamming or shutting down. Since no company keeps the platform online or even manages the buyers’ and sellers’ wallets, openbazaar gives any merchant the full share of his/her effort… no questions asked.

That’s why we chose to create our own PC game shop on the platform & support the project by actively promoting it on our own online Bitcoin marketplace.

How OpenBazaar Works

Openbazaar bitcoin Game Deals shop

Think of openbazaar as a more familiar BitTorrent application.

There is no central server where all the files are stored. In fact, the users and the users only sustain the network; they download the software, store all the files, and they decide what to share & when. Since all have the same capabilities, the network is peer-to-peer and can be brought down if and ONLY if all participants end their support and don’t use the software anymore.

As a vendor, you can create a Bitcoin shop in a few minutes, following some very basic steps. No need to get verified as you won’t use the traditional payment gateways, only BTC & other cryptocurrencies.

The vendor though must download the openbazaar 2.0 software first, available for all kinds of platforms – Mac, Windows, Linux – here. Once online, he/she can customize the store and create listings for his/her products or services.

Does that mean the vendor has to keep the device that runs the openbazaar software always on? Typically, yes, but he doesn’t have to anymore since the platform is built on a web protocol that helps the stores cache their listings and be available offline, as a result. Read this for more information.

Since we truly believe in the peer-to-peer, decentralized future, our bitcoin Game Deals shop on openbazaar will be online 24/7, so that you have a smooth buying experience. Satisfaction guaranteed!

How To Use Openbazaar

Openbazaar 2.0 software - Set Up Your Information

As a buyer, you’ll also have to download the software here and install it on your PC or laptop. Unfortunately, you can’t quite buy via the web interface… yet, at least. However, in the near future, the Haven app will support openbazaar so you can buy cheap steam games directly from your Android or iOS device.

After the installation, you will have to fill a very simple form (name, country & your desired currency) to access the network.

To buy, all you have to do is click on the openbazaar logo from the top menu and select your product. In our case, choose your favorite pc game from the bitcoin Game Deals shop & click the ‘Buy via openbazaar’ button. A link will be copied to your clipboard, link you have to paste on the openbazaar search, at the top. Since you are now on the game page, all you have to do is choose your cryptocurrency – Bitcoin Cash, Litecoin, or Zcash – and click Pay. You can either pay from your external cryptocurrency wallet by copying & pasting the address and the exact sum or top-up your openbazaar wallet with the necessary funds.

The order will be sent to us and you will receive the steam key in maximum 12 hours guaranteed (unless stated otherwise on our bitcoin Game Deals website & openbazaar shop).

You can also send us a message via openbazaar if you have any questions regarding the process or the PC game you want to buy. We will do our best to answer ASAP!

Please be sure to leave your feedback after the order is completed. You will help us grow and, at the same time, spread the word about this innovative platform.

How Openbazaar Makes Money

Bitcoin Profit or Loss

Worth mentioning: openbazaar is not a company with the sole purpose of making a profit. It is actually an open-source software managed by a very welcoming community. This software lets you access a unique network of online Bitcoin shops, where buyers and sellers meet on their own terms, without a third party to restrict and virtually extort them.

We’ve chosen this unique decentralized platform because the community behind it believes in the same principles as we do: total decentralization and no single authority to financially harass the rest of us all, Bitcoin & cryptocurrency implementation, not to mention owning your life completely, without any interference whatsoever.

What would you choose? A platform that restricts your freedom and charges you with obnoxious fees or a commission-free network where all are created equal?

Is Openbazaar Safe?

Security Online Lock

It is as safe as you are.

Since applications like Bitcoin, crypto & openbazaar for that matter lets you regain control of your own life in a multitude of ways, this also makes you more vulnerable to outside threats.

Remember, there are no third parties to safeguard you anymore, always verify before acting & spend your bitcoins online, and beware of scams.

The platform has a very handy moderation system that can help you avoid most of the scammers, so be sure to use the feature whenever you can to buy a product or service via openbazaar.

Moreover, it’s important to know all cryptocurrency wallets on openbazaar are hot wallets, therefore only transfer the necessary funds to buy your chosen steam game. Do not use the wallet to store your Bitcoin Cash, Litecoin & Zcash long term!

Choose The Future Of eCommerce

If you are a true Bitcoin believer, with openbazaar, you can never go wrong. Help support a truly decentralized platform where buyers and sellers meet from all around the world and be sure to leave your mark by trying it out.

As with Bitcoin widely regarded as the future of money, openbazaar may very well be the future of eCommerce.

What do you believe? Have you bought goods & services on openbazaar? What was your experience? Be sure to leave a comment below!

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