In January 2009, Satoshi Nakamoto generated the first block in the Bitcoin network and received the first 50 BTC in his wallet. And a year later, the first commercial transaction in the history of cryptocurrencies was executed on the Internet, when the buyer paid 10,000 bitcoins for two pizzas.
Over the years that followed, the cryptocurrency industry spun like a flywheel, peaking in 2017. At that time, the value of Bitcoin reached $20,000 and the cryptocurrency market capitalization was $592 billion. New projects appeared almost every day, and almost everything that technically could work on a decentralized registry was transferred to the blockchain. But the euphoria did not last long, and already in the winter of 2018, the industry was expecting a big drop, which skeptics called the “death of Bitcoin” or “the bursting bubble”.
When the excitement in the crypto community faded, people began to recall the traditional purpose of cryptocurrencies: fast, convenient and anonymous cross-border payments without commissions and control by authorities and regulators. But, like many years ago, and still now, shopping for cryptoenthusiasts is rather limited in possibilities. Of course, there are stores that accept cryptocurrencies as payment, and services that help you quickly buy fiat and make a purchase without leaving the website of the online store.
In fact, the use of cryptocurrencies for the purchase of any goods, including very expensive ones, is a fairly common practice. Bitcoins are accepted in hotels, restaurants, cafes, on sites selling real estate and cars. Some manufacturers, including Tesla and Lamborghini, also gave their customers the opportunity to pay in BTC. For fans of online shopping, there are browser extensions that will help convert BTC to USD and pay for goods on Amazon or eBay. However, such developments are still more at the testing stage, as they often cannot offer support for more than two platforms.
At the same time, most owners of cryptocurrencies use exchangers or exchanges to convert existing tokens into fiat, which increases the number of available goods and platforms hundreds and thousands of times. After all, the most obvious drawbacks of crypto shopping at the moment are a very limited number of trading companies that work with cryptocurrency, and the lack of a wide selection of sites for buying goods, in the case of browser extensions and plugins.
But this was before the advent of the new global marketplace from the Coinsbit cryptocurrency exchange. The developer managed to combine most of the largest trading platforms on one platform. Coinsbit Store is an aggregator of popular goods from eBay, Amazon, Alibaba, Aliexpress and other stores that can be bought for stablecoins.
To use the new trading platform, users just need to register an account on the Coinsbit exchange and get tokens suitable for payment on the balance. By the way, goods can be paid using USDT, USDN, PLC, as well as CNB - a special exchange platform token. For those who want to try the work of the marketplace in action, we can recommend the CNB token. The fact is that recently Coinsbit conducted a planned burning of 10% of its token issue. These tokens were received as trading commissions and other internal operations fees. This means an increase in demand and increase in the price of CNB, making buying goods more profitable.
The most important advantage of this platform is the combination of many products from the most popular sites in one place. Now the buyer does not have to open many tabs or look for the desired phone model in three stores. Every day Coinsbit adds hundreds of new products to its catalog, which makes the marketplace even more valuable and universal for customers.
This, of course, is an important step forward for the entire crypto industry, because the developers combined the best features of existing solutions into one ecosystem. To evaluate the Coinsbit Store more sensibly, considering all the advantages and disadvantages, we need to give more time to both developers and the market, which will put everything in its place.