Bitmarkets is a peer-to-peer anonymous digital asset trading platform that functions like a two-party escrow service, fully decentralized. Both parties lock mutual deposits that can be released when both agree on payment or refund. Once the transaction is locked neither party can back out or defraud the other. Privacy is ensured by the Tor network and the transactions are free of charge.
The BitMarkets platform has a nice sleek design and is more convenient for technically advanced users who want to securely and anonymously buy or sell products. Moreover, Bitmarkets does not charge a fee for the innovative two-party escrow service it offers.
Crypto Currencies Support
- European Union
- Hong Kong
- Most Africa
- Most of Asia
- Most of Eastern European Union
- Most of Latin America
- Most of the Middle East
- New Zealand
- Russian Federation
- United Kingdom of Great Britain and Northern Ireland
- United States of America
- Web Interface
- Desktop APP
Bitmarkets security levels are exceptionally high. They offer 2FA and a withdrawal white list option. They use an elastic multi-stage wallet strategy ensuring that 80-90% of funds are kept offline and secure. Also, for withdrawals, users are required to pass an enhanced verification process providing proof of the validity of their identification documents.
Advanced Security Features:
- Tor network anonymity
This project is run by an internet NGO called Voluntary.net which focuses on non-profit open source privacy apps. Some of their projects are Bitmarkets, Crypt, Bitpost, and TorBar. The team behind this project is made up of Chris Robinson (designer), Rich Collins (Bitcoin Integration), Adam Thorsen (Bitmessage & Tor), and Steve Dekorte (UI & Lead Project).
The key strong points of BitMarkets are privacy via the Tor network, decentralized payments via Bitcoin, communication via Bitmessage, and trust via the two-party escrow approval system. Although the project has innovative technologies incorporated into it and it is open-source, the platform is developed and maintained by a small NGO, therefore users shouldn't store large funds on this platform.
Bitmarkets uses two-party escrow directly between buyer and seller, with no third parties involved. The buyer locks 2x the price of the item while the seller locks 1x the price of the item to secure the transaction. Both then have to agree how to unlock for payment or refund. The platform uses Bitmessage (encrypted P2P messaging) and the Tor network the ensure privacy.
There are no user complaints about this platform.