(Buy + sell) online – CC – bank account = Itcoinbay.com (BITREF)
Buy|sell online with bitcoin for a modest fee.
Buying and selling online with bitcoin presents some challenges as bitcoin transactions are irreversible and anonymous. In order to alleviate the exposure to all sides of the transaction at itcoinBay.com, we have devised a system loosely based on the old Russian adage that says «доверять, но проверять», which translates to “trust, but verify.” Normally credit card or bank information would be required to participate in an online marketplace, but we will never ask for that kind of information at itcoinBay.com. So how do we overcome this exposure and “trust, but verify?” We alleviate potential problems with our trademark BITREF system. BITREF is an acronym for Blockchain Irreversible Transaction Risk Escrow Fund. How does it work?
To become an itcoinBay.com Seller, one makes a one-time BITREF payment of .01 BTC and after that there are NO annoying LISTING FEES and we take only a 2.9% commission on auctions that sell. Sellers have full privileges which include bidding/buying, earning with our Referral program and they are also automatically entered in our Contest. To become an itcoinBay.com Buyer (no selling privileges), one makes a one-time BITREF payment of .01 BTC, but this is refundable upon request. For a one-time buyer this is very easy as this amount can be deducted from the payment for an item. An itcoinBay.com Buyer may leave his or her BITREF deposit with us for as long or as short a timespan as is desired and they can become a Seller at any time should they wish to sell something with us simply by listing an item or service with us and their deposit would then no longer be refundable.
Our BITREF system accomplishes several very important objectives: it provides confirmation that the member is able to use bitcoin, while it also greatly reduces the risk of phantom bidders/buyers and or sellers. Without attaching ourselves and our members to the monetary-controls of the establishment, which obviously goes against the root principles of Bitcoin, this is the best system we could devise. While we here at itcoinBay.com believe in and practice the “Golden Rule” and hope for the same from our members, our BITREF system provides everyone in our marketplace with the ability to “trust, but verify.”
To ensure that the parties at both ends of a transaction are satisfied, we have some pretty particular Site Rules here at itcoinBay.com that complement our BITREF system. Please make sure that you are in agreement with these, as well as all of our other policies, before becoming a member and sending us your BITREF payment.
If you register on our site without making the BITREF payment, you will be unable to place bids (your bids will be deleted) and or your auction(s) will not be approved. You can see the /$ ratio to the right of your screen. We will adjust the BITREF payment amount from time to time if and when required by the rise (or fall) of bitcoin so as to maintain a similar cost in relation to fiat dollars. Once you are a member you are always a member unless you withdraw your membership or we are forced to revoke it due to violation(s) of the Site Rules. Again, we charge the seller a flat 2.9% commission on auctions that sell, but there are NO LISTING FEES.
Please click below to transfer to our store and make your BITREF payment. Thank you!
BITREF ™ is a trademark of itcoinBay.com 2017-2018. All Rights Reserved.