Launched today, BTXDeals is the first online marketplace to use Bitcoins as its sole currency.
The brainchild of British technology entrepreneur Nick Boardman, BTXDeals offers customers cost-per-sale typically 50% lower than that charged by Amazon or eBay, and with no hidden charges or additional fees.
Vendors can receive payment in either Bitcoins or GBP Sterling, while its free to list an unlimited number of items. 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.
A currency conversion based on current exchange rates allows a transparent indication of the value of goods, with base prices set in GBP Sterling and updated every 10 minutes based on the exchange rate of Bitpay.
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.
"We’re passionate about the potential of this virtual currency and believe it will become the future for all e-commerce transactions."
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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.
