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Cryptocurrencies

CoinMall is the first bitcoin marketplace for digital goods

Friday 6 January 2017 | 02:43 PM CET

CoinMall has been introduced as the world’s first Bitcoin marketplace for digital goods incorporating the unique properties of Bitcoin into a marketplace for digital goods.

CoinMall takes the user’s privacy seriously, and as such is a fully pseudonymous marketplace with no personal documents required to start buying or selling. The issue with pseudonymous marketplaces is that vendor scamming may pose an issue, however, CoinMall has taken the necessary precautions making sure that does not happen.

The main two things CoinMall has done to prevent scamming is implement an Escrow service and both a vendor as well as product feedback system. That way buyers can verify they are dealing with reputable vendors and are assured they do not lose their funds in case their purchase is inconsistent with the listing’s description.

A marketplace for digital goods is the ideal match for Bitcoin. It helps vendors save costs by not having to factor in chargebacks and fraud costs and helps users from around the world easily partake in a marketplace while still maintaining their privacy by being pseudonymous, with zero risks of identity theft.

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