Very few people seem to be spending Litecoin on goods and services. Even though there are several Litecoin payment processors out there, LTC is not on the same level as Bitcoin when it comes to merchants. It appears a new marketplace will launch soon which aims to bring more attention to Litecoin. Coinsen, as this platform will be known as, aims to become a decentralized eBay for LTC users.
Coinsen is Worth Keeping an Eye On
It is evident there are a lot of passionate people in the Litecoin ecosystem right now. Community members want to see this ecosystem grow and evolve over time. Sometimes, that means a new service needs to be introduced out of the blue. Coinsen could become, one of those services to put Litecoin on the map moving forward. It will be an eBay-esque marketplace supporting Litecoin only. Right now, there are over one thousand items for sale already, with more to be added in the near future.
Anything can be bought and sold on Coinsen. Both physical and digital items are allowed, as long as there is no illegal content, of course. The platform has been in private beta for quite some time now. Thousands of transactions have been completed with a minimum amount of disputes. Coinsen will act as an escrow service for all funds, ensuring buyers will not get ripped off by fake sellers.
Additionally, Coinsen uses a built-in verification system to prevent fraud from happening. Physical addresses of all buyers will be validated as well to ensure items arrive at the intended destination. Rest assured digital items will be the common type of goods listed on Coinsen for the time being. Slowly but surely, more physical goods will find their way to this marketplace as well. Plus, there is also a reputation system, which is a must-have when it comes to digital marketplaces.
Do keep in mind Coinsen is still in beta, but it is open to the public as of today. The goal is to collect feedback and make further improvements along the way. One future additional could introduce an opportunity to buy shipping labels with Litecoin. It will be quite interesting to see how this platform evolves over the coming months.
Header image courtesy of Shutterstock
