BTXDeals recently announced its live launch and opened its doors to a unique form of online trading with Bitcoins being its sole currency. This exciting business start-up is the first of its kind to truly take advantage of the rising potential of the burgeoning virtual currency - one that is set to become the future of e-commerce worldwide.
BTXDeals distinguishes itself from other online e-tailers by offering the best possible value to its customers with a cost-per-sale typically 50% lower than that charged by Amazon or eBay, and with no hidden charges or additional fees. It's free to list an unlimited number of items, vendors can receive payment in either Bitcoins or GBP Sterling and unlike Amazon, BTXDeals will not try to compete with sellers, instead focusing its efforts on simply providing a safe and competitive platform on which to trade.
BTXDeals ensures that customers are getting a fair representation of the value of their virtual currency in the current market, and shopping for goods is made easy due to a transparent indication of currency conversion based on current exchange rates. The base price of goods is set in GBP Sterling and updated every 10 minutes based on the exchange rate of Bitpay, the largest Bitcoin payment gateway. Currently based in the UK with plans to expand into further territories next year, BTXDeals also offers comparisons in Euros and US Dollars for added convenience.
"As the first of its kind, BTXDeals embraces the potential of Bitcoin and provides a safe, secure and transparent form of online shopping that puts the power in the hands of the consumer," said Nick Boardman, CEO and Founder of BTXDeals, in an official press release. "We're passionate about the potential of this virtual currency and believe it will become the future for all e-commerce transactions."
BTXDeals has already secured a number of key vendors across a range of industries including Grange Hotels, Shy Aviation, Sun Mountain Golf, K Bassam Jewellers, Time Square Birmingham, New Born Electronics, Paul Oz, Cherished Number Plates and Spanish Villas. It is in negotiations with a number of other major suppliers and well known global brands and expects to rapidly expand its product and service range over the coming months.
As a virtual currency that is not managed by a bank, Bitcoins have a range of advantages over traditional currencies. It is easier and safer to send Bitcoin money over the internet; it is not susceptible to credit card, foreign exchange or cash handling fees and less susceptible to fraud. And since Bitcoins have a fixed upper limit, it is more predictable than currencies that can be inflated by a central bank. With a current market value of around $5billion, Bitcoins are seen by many as the inevitable future of e-commerce, and have attracted entrepreneurs such as Richard Branson, the Winklevoss twins and co-founder of Netscape Marc Andreessen.