Openbazaar Users Can Now Trade 1500 Cryptocurrencies With No KYC

This Friday the decentralized marketplace Openbazaar announced the release of its 2.2.2 version which adds a variety of new features and improvements. One particular feature added to the latest Openbazaar release allows users to trade 1,500+ cryptocurrencies with no fees. Moreover, all the swaps are peer-to-peer trades between two parties with no KYC process. 

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Openbazaar Launches Version 2.2.2 With Two New Important Features

The Openbazaar development team has released a new version of the platform that adds a few new features and bug fixes. Openbazaar version 2.2.2 was released on July 27 and the application allows for peer-to-peer cryptocurrency trades with a vast quantity of different digital assets. The developers explain that the release includes two major protocol improvements within the Openbazaar environment.     

“The first is the ability for users offering to trade coins to mark up or discount their price — Instead of only being able to offer a trade at market price, they can choose to add a markup, which will automatically increase the price to the buyer based on the percentage they choose,” explains Openbazaar’s announcement blog post.  

They can also choose to offer a discount from market price — The software constantly is updating the market price of the cryptocurrencies involved in the trade, and will add the markup or discount at the moment the trade happens.

The Ability to Trade 1,500+ Cryptocurrencies With No Fees and No KYC/AML Processes

The announcement further details that the second feature includes the major update to how many cryptocurrencies can be traded on Openbazaar. The development team notes that prior to the 2.2.2 release there were about 60 different coins available to trade. Openbazaar has implemented price feeds from the data site Coinmarketcap and there are now 1,500+ coins that can be traded.

“If you want to see if a specific coin is available, download Openbazaar and start the process of creating a cryptocurrency listing,” the Openbazaar developers detail.

As always, there are no fees to pay and no accounts to sign up for — It’s a direct swap of cryptocurrencies between you and the other party, and if you choose a moderated payment (highly recommended) then there’s a third party available in case of dispute.

The cryptocurrency community seemed to like the latest Openbazaar announcement across social media and digital asset focused forums. The biggest plus for most digital currency proponents is the means to buy and sell coins without fees — But people really appreciated the ability to trade without all the annoying KYC/AML processes tethered to more than 90 percent of exchanges out there today.

What do you think about Openbazaar adding 1,500+ different cryptocurrencies to the platform for peer-to-peer trading? Let us know what you think about this subject in the comment section below.  

Images via Shutterstock, Openbazaar logo, and the OB Blog. 

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