How pricing works in BitBoost Marketplace


#1

Crypto is volatile, but you can simply set your price in dollars and let the app calculate the
rate automatically.

As a blockchain-based marketplace, all transactions on BitBoost take place in cryptocurrency. Specifically, purchases by customers are made in Ether (ETH), the native token of the Ethereum platform, and listing fees are paid by sellers in BBT, our crowdfunding token. That means that every transaction can be managed by a smart contract on Ethereum, and no one has to deal with the complexities of cross-blockchain transfers such as bitcoin payments – or, worse still, handling fiat money.

However, crypto is volatile. The price of ETH in dollars can change significantly from day to day or even hour to hour, with daily swings in value of 5-10% not unusual. Users do not want to be exposed to this, and potentially have to absorb the losses entailed. In the marketplace, merchants price items in dollars, and the software displays the equivalent value in ETH, updated on a regular basis. The app pulls the market price of ETH from popular and liquid exchanges, so it’s always accurate. It’s all done automatically, so there’s no need to update your prices every day. Just set and forget.