Openbazaar, a first-of-its-kind Global Decentralized Market that enables its users to trade online, is all set to release its latest version that allows users to trade 1,500+ cryptocurrencies without KYC and any fees.
The 2.2.2 version of Openbazaar released on July 27 and added a range of recent improvements and features along with the bug fixes. The new enhancements have created quite a buzz because of one particular feature that allows peer-to-peer trades between two parties with entirely no KYC process or fees.
According to the Openbzaar blog post “This version includes two major improvements to the cryptocurrency trading feature within OpenBazaar.”
The first feature is to provide a facility to the users that allows them to adjust the price of a cryptocurrency listing by a percentage relative to the market price. It means that instead of only being able to offer a trade at market price, the users can now add markup or even discount their price. The cost to the buyer will increase or decrease by the chosen percentage automatically at the time of the trade.
The second improvement as described in the blog post “is a major expansion of how many coins can be bought and sold on the platform. Previously there were about 60 available. Now, there are more than 1,500 coins you can trade on OpenBazaar.” And of course, the users can buy and sell these cryptocurrencies without KYC as well as without any fees.
Since the whole process of KYC/AML is time-consuming as well as annoying, the cryptocurrency community is pleased about this unique feature of Openbazaar.
Although it is to be noted that Cryptocurrencies without KYC is not an exclusive feature by Openbazaar as there are other exchanges that offer the same features. Few examples of such other exchanges are Binance, Kraken, and Shapeshift.