Home / Crypto Currency / Ethbay Promises to Bring a Risk-Free eBay Experience

Ethbay Promises to Bring a Risk-Free eBay Experience

Bitcoin auction keyboard


This is a sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below.

Imagine you want to auction a valuable item, such as a high-end laptop, or even a 55-inch Smart TV. You’ll most likely turn to eBay to list your products and look for buyers. Unless you’re one of those who have already been scammed in the past decade.

There have been countless reports of people buying a product and never receiving what they paid for — they either receive a cheap knockoff, a much older item or nothing at all.

Ethbay, however, is set to disrupt the online auction market with its safe and reliable platform, built on a blockchain. In practice, it works very similarly to eBay — sellers can auction whatever product they wish, as long as it’s not illegal, and buyers can bid on whatever they want, offering an amount of their choice.

Registration is as simple as it gets — no user information required. Buyers and sellers may choose to add their email addresses to be notified of any changes in the products they’re bidding on or selling, but it is not required. Two-factor authentication is also available and users can opt between using a QR code or a text message confirmation. Again, this is not required.

The biggest game-changer for Ethbay is the way the team ensures the protection of everyone involved. In cases where the item advertised doesn’t correspond to the item received, both parties will be given a chance to resolve the matter amicably.

When no resolution is reached, the Ethbay team will then intervene and assess all the details regarding the case. Thanks to the blockchain technology, the resolution team will have the power to reassign the funds back to the buyer, if needed. In the future, this resolution process will transition over to a decentralized process which will not require human intervention.

Unlike traditional online auction platforms, Ethbay does not charge any listing fees which means you can auction as many products as you want. A 1% fee is charged only once the auction is completed. However, the fee is shared among all token holders, instead of reverting to the team.

The platform will run on its own token, the EBY token. With Ethbay’s ICO currently running until August 7, investors can acquire one of the available 80 million EBY. During its ICO, 1 ETH will give you 5000 EBY. Until June 14, investors will receive an additional 15% bonus, while purchases made after that date and until June 21 will award 10% bonus.

Ethbay will begin its marketing campaign in August in which members will have a chance to win EBY rewards. The beta launch of the platform is planned for November during which Ethbay will be holding a bounty hunt program. Only 3 months later, the main launch of the platform is expected, for February 2019.

The platform has bigger plans than becoming the blockchain eBay, though. Once its platform is established, Ethbay plans on reaching out to other markets which will benefit from using blockchain technology.

Come April 2019, finding a freelance gig will be easier and safer than ever with the launch of Ethbay Services. The team plans on launching a marketplace platform to allow users to receive Ethereum payments in exchange for services — something along the lines of Upwork and Fiverr.

As it happens with its auction platform, this section will allow freelancers and employers to establish contracts with peace of mind, knowing the Ethbay team can intervene at any time.

At a later stage, token holders will also have the power to participate in decisions regarding the project. All those who hold over 200.000 EBY will also have the right to submit proposals to be voted by the community.

All in all, Ethbay is set to change the way online peer-to-peer transactions are done, giving a solution to a decade-long problem. About time, I’d say, and I’m sure many of you will agree, too.

To find out more about the Ethbay platform and it’s ongoing ICO, visit www.ethbay.co

Read more

Check Also

VeChain Hype Intensifies With Major Partnership and Mainnet Launch

VeChain has gained support from new partnerships with DB Schenker and PwC, ahead of its highly anticipated mainnet launch. VeChain in Last Stages of Preparation Before Mainnet Launch VeChain has posted their official launch schedule to Twitter comments are a mixed bag of congratulations and questions about how to convert existing VEN to the new VET token. The VeChainThor Blockchain is days away from being unleashed. Please review the following timeline and be prepared to witness Blockchain X! pic.twitter.com/kxlQkcc6PI — VeChain Foundation (@vechainofficial) June 21, 2018 Once the launch takes place most exchanges are expected to handle the token conversion, swapping the ERC20 VEN tokens to the new VET symbol. Users should look for a message from their exchanges that they are on board and ready to make the change. For those keeping their tokens in their own wallet and don’t plan to transfer them over to an exchange for the mainnet launch, there’s another way to manage the exchange. Once the mainnet is launched any VEN tokens can be transferred to a new wallet to be released by VeChain that will effectively make the swap from VEN to VET for the owner. After the swap, every single VEN token will be converted to 100 VET. This is designed into the mainnet launch to facilitate smaller transactions, as well as some of VeChain’s use cases such as IoT. For example, VeChain is currently being sold at 3.10$ per unit, after the swap the VET unit is being traded at the price of 0.31$ per one unit. Though the change creates more coins for the user the overall fiat value stays the same. VeChain understands that the token swap will take some time to complete, so they will allow VEN and VET to coexist for a while so that all holders would have enough time to get through the process of the transition. After the mainnet launching, all exchanges for VET will be closed. Investors can book trades on their exchanges but the price won’t be available until the first trade of the newly swapped coin is processed through an exchange that had listed the VEN token. VeChain Set Up for the Future On it’s run up to the mainnet launch VeChain has sealed two major deals that should ensure a solid future for the Chinese company through the current unstable market. “Big Four” auditing giant PricewaterhouseCoopers (PwC) recently lent support to the company through an investment and DB Schenker, a logistics division of German railways has partnered with VeChain to develop an application poised to transform the global logistics ecosystem. As of the time of writing the mainnet is set to launch in 8 days. The post VeChain Hype Intensifies With Major Partnership and Mainnet Launch appeared first on NewsBTC.

Leave a Reply

Your email address will not be published. Required fields are marked *

Disclaimer: Trading in bitcoins or other digital currencies carries a high level of risk and can result in the total loss of the invested capital. theonlinetech.org does not provide investment advice, but only reflects its own opinion. Please ensure that if you trade or invest in bitcoins or other digital currencies (for example, investing in cloud mining services) you fully understand the risks involved! Please also note that some external links are affiliate links.