Bitcoin Marketplace To Exchange Bitcoins For Goods

bitpremier BitPremier launched a bitcoin marketplace an online ecommerce store to exchange bitcoins for high end luxury goods. On its online store luxury goods can be bought using Bitcoins. The startup is betting wealthy individuals to buy and sell luxury items like upscale condominiums, art works and jewellery using bitcoins.

Any one wishing to sell on the bitcoin marketplace will have to submit the goods they want to sell to BitPremier. While submission of goods on the bitcoin ecommerce platform is free BitPremier will verify and approve products listed on its site before it can go for sale. Bitpremier will than forward offers it gets to the sellers. The prices are set in dollars and website updates the cost in bitcoins every few minutes.

Potential buyers can contact the seller of an item or indicate a bid on an item by using the “Submit Anonymous Interest” link on the item in the bitcoin marketplace. Both parties will remain anonymous until the terms of the transaction are finalized.

The buyer will have to send the digital money to a Bitcoin network address provided by BitPremier. BitPremier will hold the coins in escrow until the buyer confirms receipt of the item and both parties agree the deal is completed after which it sends the coins after deducting its 5% commission. Seller can opt to receive proceeds in either bitcoins or US Dollars. If the seller opts for US dollars BitPremier will expedite the same through a licensed exchange.

BitPremier is aiming to act as a middleman, listing items for sellers who want to be paid in bitcoins. The bitcoin marketplace is backed by Barry Silbert’s Bitcoin Opportunity Fund. “There are a lot of people out there with a lot of bitcoins and nowhere to spend them,” says Alan Silbert. BitPremier aims to fill a void for them – as well as for those who want to obtain significant quantities of bitcoins.

Check out the bitcoin market place website

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