A new person to person bitcoin exchange platform, BTC2BID.com will be launching its beta in the next three days. The auction platform acts as a blind-auction and escrow system to provide a private, real-time method to complete face to face bitcoin exchanges with cash. BTC2BID.com is and has stated it always intends to be free.
The website features a number of tabs to track the various aspects of the exchange. The ‘Track my deals’ tab will provide users with the ability to keep on top of deals already in progress on a real-time basis. ’Buy’ and ‘Sell’ bitcoin tabs, to bid on available buy or sell deals or to post the deals in the users city. On the ‘Bonus’ tab users track the status of any bonuses they receive from signup and referrals. ‘Invite friends’ allows the quick invite of friends by sending them a personalised link. Finally, the ‘Refunds’ tab will be used when a deal is not completed on time.
On signup, users of BTC2BID.com will be rewarded with a bonus of $10 worth of bitcoin and with a referral bonus of $10 worth of bitcoin for each new user they invite and starts using the service. Each deal between a buyer and a seller is private and BTC2BID.com will disclose their reciprocal contact details only when they match in a deal and only for that specific deal. No other information is required to sign up to BTC2BID.com and start trading.
Every deal is auction-based and the winner is the first who bids and matches the request of the other party in the given auction time. BTC2BID.com holds the bitcoin in an escrow wallet and releases the bitcoin automatically to the buyer when the deal is completed. The website does not accesses users cash and never keeps the bitcoin in escrow for a period longer than the transaction time. SSL technology is used to encrypt the communication of the users with the platform.
BTC2BID.com are hoping to find market makers, community managers, partners and affiliates who will assist in making bitcoin mainstream. The company have expressed an interest in finding people who live in a city where there is a strong local community and trading activity, noting London, San Francisco, Amsterdam and Toronto, to join and take the first mover advantage.