Crypto is about the freedom to use your money the way it should be used—either to buy things or products needed, or just to improve the lifestyle a free person wants. But for that to happen, merchants and stores should provide tools that allow people to spend their crypto in a decentralized manner, helping to create an economy that depends only on their will.
So, marketplaces like Bitgree are important, as they give users who hold crypto—especially BCH—a way to purchase things and help build an economy that doesn't depend on governments or get influenced by politics. But what is Bitgree?
How the Bitgree Marketplace Works
Bitgree is a Bitcoin Cash marketplace where users who hold the currency can buy and sell items and spend their BCH. The marketplace was designed to be a decentralized "shop" and provide users with the necessary tools to buy and sell products in a private, peer-to-peer manner while enjoying a user-friendly experience.
Users find on Bitgree a platform that was built to make life easier when buying things online. They can easily purchase whatever they want without depending on a centralized crypto exchange or needing fiat to acquire products—just using BCH. One of the features on Bitgree that I especially love is the wish system.
The Wish and Proposal System Explained
This feature allows users to create a wish by browsing the platform for products they want to buy but can't find on the website at that moment. After exploring for the product they wish to buy, they can add it to the wish system, place it in their wish basket, and specify the price they are willing to pay for it. The price includes shipping costs.
For example, if a user wants to buy a product that isn't available on Bitgree, they can enter the URL of the product from a supported external store into the search bar and import it into the marketplace.
Another great feature found on Bitgree is the ability for users to make proposals. When a wish has been created, other users can make proposals on behalf of the wish creator, showing interest in purchasing the item for them. This proposal can be suggested at any price, and if the wish creator accepts, the user who proposed can then purchase the product from an external store.
The interesting thing here is that the product will be sent directly to the wish creator’s address, and the user who made the proposal and bought it from an external store will receive BCH! You might be wondering—is the system safe? It is. To make sure the whole process is safe and transparent, the Bitgree team implemented a multi-signature escrow system.
Security, Escrow, and Non-Custodial Ownership
This system ensures that when a wish accepts a proposal, the user must transfer the amount they're willing to pay for the purchase to a multi-signature Bitcoin Cash escrow address. To unlock these funds, more than one signature is required. The signatures include the wish creator, the proposal user, and of course, the Bitgree team. When the process ends “peacefully,” the escrow funds are released with the proper signatures.
When there's a dispute, the process is handled by the Bitgree team. Based on the evidence provided by both parties, a decision will be made. The user who wins the case will receive the escrow funds, which will be unlocked using Bitgree’s signature along with the winner’s signature. Bitgree also allows users to purchase products from stores that don’t accept Bitcoin Cash. This is made possible through third-party partnerships that enable Bitgree users to acquire products using BCH at supported external stores.
Stores like Amazon.com and Amazon.es are among the many supported by Bitgree. This is a decentralized process, giving people the ability to buy the things they need using Bitcoin Cash, without relying on a crypto exchange.
Bitgree is a splendid service that allows BCH users to purchase and sell products in a completely decentralized way. Users of the marketplace can create and fulfill wishes to acquire items on the platform or from outside stores partnered with Bitgree using Bitcoin Cash. A crucial aspect of Bitgree is that it’s non-custodial, meaning all funds held by users on the platform are their responsibility. User wallets are generated in their web storage, and the Bitgree team does not have access to them.
Users should write down their seed phrases and store them securely in a vault. That way, if they lose access to the platform, they can still recover their funds.
Even the escrow addresses used in purchase agreements are non-custodial and require more than one signature to access the funds. The signatures can come from the wish creator, the proposal user, or even the Bitgree team. So, if a user loses their password and didn’t back up their seed phrase, they automatically lose access to their funds. Backing up private keys is critical to avoid this.
Final Thoughts: Shopping Freedom Powered by BCH
At the moment, Bitgree supports many stores, and it's important for interested users to access the platform and stay updated on all of them. Bitgree charges a 0.5% fee for each successful outgoing transaction from an escrow wallet balance, which is a fair fee for the services the platform provides. Remember, Bitgree only supports Bitcoin Cash and is the only store in the ecosystem that allows users to get what they want or wish for—and pay using BCH.
The platform is secure, transparent, and at any moment, if users find an issue during a transaction, they can open a dispute and ask the team to resolve it. The outcome of the issue will be decided by the Bitgree personnel based on the evidence provided by both parties. Once a winner is found, the escrow funds will be sent to them using their signature and Bitgree’s signature to unlock the wallet.
This is a great service for people who want to purchase the things they desire and, more importantly, give BCH one more use case. Bitcoin Cash works—and Bitgree is one of the many places where people can use it to get things that matter to them. Intrigued by it? Visit the platform and get more familiar with it by buying something that interests you. One more thing—don’t forget to check how much you can make by earning awesome commissions as a Bitgree user.
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