The number of cryptocurrency marketplaces is steadily growing

As is well known, marketplaces allow users to purchase goods or services from various stores or sellers on a single platform. In fact, such platforms can be compared to aggregators of goods and services. AliExpress, eBay, and Amazon are the world's three largest marketplaces. Various payment systems and tools have gradually competed in the field of eCommerce services. As a result, many market participants are now offering popular payment options like PayPal and electronic money in addition to Visa and MasterCard. Later, it was the turn of cryptocurrencies, which are starting to be recognized by an increasing number of marketplaces as a result of numerous requests from numerous buyers who want to be able to make payments using digital assets.

Сryptwerk is an aggregator of shops, companies and marketplaces that accept various cryptocurrencies as payment and strives to bring this information to the widest possible audience. 10,000 businesses from all over the world have already joined Cryptwerk and are organized into different categories on the platform for search convenience. 

Before delving into a few examples from the marketplace category, it's worth knowing which cryptocurrencies are commonly accepted as payment by merchants.

There are no secrets or restrictions on the availability of information about any of the cryptocurrencies that are accepted by different merchants on the Cryptwerk platform.

There are 57 different cryptocurrencies listed in the Cryptwerk rating, but the top ten digital currencies that consumers choose to use most frequently are as follows: 

It's worth noting that Tether, the most widely used stablecoin, only ranks eighth, even though its rate is known to be pegged to the US dollar, and its volatility is among the lowest of the crypto assets. This demonstrates that volatility is no longer the deciding factor for buyers and sellers, and that trust, reputation, and asset value are now more important. It is not surprising that Bitcoin won based on these indicators, given that nearly 92% of merchants are willing to accept BTC as payment.

So, let's look at a few marketplaces with interesting cases and a high rating,  which is based on a variety of factors on the Cryptwerk platform.

This marketplace is a global car rental service that aims to cover most of the world's cities since 2017. Nearly 1,000 regional, national, and city-based businesses that provide related services were able to join forces on QEEQ's platform. As a result, on the QEEQ marketplace, the user simply selects a city, such as London, Madrid, Kyiv, Tbilisi, or Istanbul, and a car of the desired class with a set of specific options, the lease term, and pays with fiat or cryptocurrency. The following digital currencies can be used to make payments: BTC, ETH, BCH, DOGE, XRP, USDC, DAI, SHIB, BUSD, USDP, WBTC, and GUSD. 

Qeeq accepts cryptocurrency via BitPay. The platform provides a discount of up to 20% for cryptocurrency payments, depending on the rental period and a number of other factors. This startup's efforts and successes have been recognized by Magellan Gold Awards 2018, Travolution Awards 2018, and World Travel Awards 2019.

This marketplace provides gift cards from over 300 well-known stores and retailers worldwide. Apple, Amazon, eBay, Airbnb, Uber, Walmart, Groupon, Domino's, and many other brands are represented. Customers can pay for the cards with six different cryptocurrencies: BTC, ETH, LTC, BCH, DOGE, and SHIB. BitPay is responsible for cryptocurrency processing. Purchases can be made on both the desktop and mobile versions of the marketplace (Google Play or  Apple Store). A bonus program is activated when payment is made in cryptocurrency, and the buyer receives eGifter points in their wallet that can be applied to future purchases. 

The Gvanga marketplace is a competitor to a service like OLX. Local ads for buying and selling real estate, cars, electronics, furniture, clothing, services, and much more can be found here. The platform is available in 26 countries and over 200 cities. This platform allows you to buy goods or services with Bitcoin (BTC) in addition to 31 fiat currencies. 

There are numerous marketplaces outside the Cryptwerk platform that do not rely on aggregators for their customer base growth but instead develop it independently.

This Dutch blockchain startup debuted on the market in 2020. A global PaaS marketplace called Bistroo brings together on a single platform more than 100,000 cafes, restaurants, grocery stores, and fast food chains that offer food delivery services for customers from around the globe. Payment can be made in both fiat currency and cryptocurrencies such as BTC, ETH, BNB, LTC, and BCH. A cumulative loyalty program has been developed using the native BIST token, where each purchase results in a credit to the wallet equal to 1% of the order amount in fiat or other cryptocurrencies. The cashback is already 2% of the total when paid in BIST. Since the marketplace charges a much lower commission than its rivals (no more than 5%) for its services, the Bistroo ecosystem is constantly being replenished with new businesses and customers. Coinpayments serves as a cryptocurrency payment processor.

This is an example where even cryptocurrency exchanges create marketplaces. After getting a license from the local regulator FINTRAC, the Canadian exchange Cryptoexchange.com launched its operations with... oh wait, not with the development of a trading platform, but rather with escrow accounts and a marketplace.

It is already possible to buy gift cards, domains, luxury watches, rare premium cars, and real estate through the marketplace of this exchange. Payment can be made in BTC, USDT-TRC20, USDT-ERC-20, and ETH. 

The unique feature of this marketplace is that it only accepts cryptocurrencies for payment. Fiat currency is not accepted at all; only the price is displayed in US dollars, but it is converted into the desired cryptocurrency at the going rate at the time of the transaction.

It is evident that fiat money will soon lose its relevance in all markets. Everything is heading in that direction.