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A new Russian online market that allows users to buy and sell goods and services with cryptocurrency prices has rapidly increased in recent months. The Mentalmarket website publishes an increasing number of ads in a dozen categories, from "cryptoindustry" to "real estate".
Read also: Russian miners sell their equipment in the middle of the market
Audis sold for digital coins
Mentalmarket looks similar to any other website with classified ads, but all its articles are priced in cryptocurrency. The platform supports payments in major currencies such as bitcoin core (BTC), bitcoin cash (BCH), ether (ETH), litecoin (LTC), zcash (ZEC), Ripple & # 39; s XRP and dash. Prices are also displayed in US dollars for convenience.
The market is gaining popularity among Russian crypto enthusiasts with a growing assortment of products and services. Users can purchase almost everything from mine hardware devices and bitcoin ATM devices to lots of land around Moscow and a hotel in Sochi. A farmer from Tashkent even sells sheep at 0.074 BTC per person.
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An Audi dealer in St. Petersburg, Russia's second largest city, recently published a number of announcements on Mentalmarket. "Now you can buy any Audi model with cryptocurrency," announced Kirill Skotnikov, CFO of Mentalmarket. Some of the more expensive models sell for over 35 BTCs, while an Audi A3 costs around 230 ETHs.
Skotnikov is convinced that the limited number of daily use cases is one of the reasons for the current downward trend in the cryptography and technology propensity markets. Quoted from the Russian newspaper Blockchain 24, he said:
Our mission is to make everyday use of cryptocurrency as familiar and as simple as using bank cards by offering a wide range of goods and services and providing the infrastructure to simplify interaction with cryptocurrencies for a large number of users.
How to use Mentalmarket
<img class = "alignright wp-image-254848 size-medium” title=”The Russian market allows users to sell items with price in cryptocurrency” src=”https://news.bitcoin.com/wp-content/uploads/2018/12/shutterstock_712241968-300×200.jpg” alt=”The Russian market allows users to sell priced articles in cryptocurrency "width =" 300 "height =" 200 "srcset =" https://news.bitcoin.com/wp-content/uploads/2018/12/shutterstock_712241968-300×200 .jpg 300w, https://news.bitcoin.com/wp-content/uploads/2018/12/shutterstock_712241968-768×512.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2018/12 / shutterstock_712241968- 696×464.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2018/12/shutterstock_712241968-630×420.jpg 630w, https://news.bitcoin.com/wp-content/uploads / 2018/12 / shutterstock_712241968.jpg 1000w "sizes =" (maximum width: 300px) 100vw, 300px”/>Mentalmarket publishes announcements by residents of the Russian Federation and other countries of the Commonwealth of Independent States (CIS). Users can access the platform if they have a Telegram account. They must send "start" to @MentalMarket_Bot to request an authorization code, then click "Sign in via Telegram" on the Mentalmarket website before entering the code.
The online marketplace does not charge fees if buyers and sellers contact each other directly on the platform. And users are not required to exchange their cryptocurrency with fiat currency to make payments. In addition, the launch is currently developing a feature called "Secure Offers" to offer brokerage services. The parties to these agreements would not need to meet or transact directly and would benefit from additional guarantees.
Mentalmarket also plans to introduce an evaluation system for all sellers. This would allow buyers to be more confident in the quality of the goods and services they buy. Sellers, on the other hand, will be able to take advantage of the opportunity to build additional sales channels to reach an increasing number of cryptocurrency users.
The platform has strict requirements regarding the content of the ads. Unlike the darknet markets, Mentalmarket does not facilitate the sale of items that would be considered illegal in the countries in which it operates. The blacklist includes drugs, alcohol and tobacco products, as well as precious metals and databases with personal or business information.
Cryptocurrencies are not yet regulated in Russia and in most countries from the post-Soviet space. However, their popularity has continued to increase in recent years. A number of platforms now offer exchange services to Russian speakers. And projects like Mentalmarket are responding to the growing demand for opportunities to spend digital money without converting to fiat.
Do you think platforms like Mentalmarket can help to speed up the adoption of cryptocurrencies? Share your thoughts on the topic in the comments section below.
Images courtesy of Shutterstock, Smartmockups.
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