Buy and Sell CryptoCurrencies on OpenBazaar

OpenBazaar supports buying and selling CryptoCurrencies since version 2.2.0 was released. The ability to buy and sell CryptoCurrencies was announced as the biggest new feature of this release, in which Vendors are able to use a special new listing type to sell CryptoCurrencies on OpenBazaar.

Vendors can choose among 44 different CryptoCurrencies right now and it was announced that even more will be added over time. At the moment, these CryptoCurrency trades must be settled in the currency the vendor decided on when setting up the OpenBazaar store (Bitcoin, Bitcoin Cash, or Zcash).

The CryptoCurrencies can be sold at market rates. Because OpenBazaar is a pure peer-to-peer market, and not an exchange, there is NO order book with the ability to choose a target price for buying or selling. This new feature only allows people to trade CryptoCurrencies directly with each other at market prices.

The advantages for the users of trading CryptoCurrencies on OpenBazaar are that they won’t need to pay any fees and they aren’t forced to reveal any identifying information. Which are both advantages that are pretty hard to find when it comes to trading CryptoCurrencies.