BITLYRA: DELIVERING A BETTER WAY TO TRADE ONLINE

The 21st century demands a better, safer and more transparent way to trade online. Bitlyra is the marketplace delivering just that.

Business Profile

Bitlyra is the online marketplace running on digital currencies. Making up for those opportunities missed by eCommerce giants such as eBay, Amazon and Shopify, Bitlyra is bringing speed and transparency to the ever-expanding online shopping space thanks to blockchain-powered protocols.

Traditional online marketplaces are known to attract fraud; in a place where money is exchanged before goods are posted, it’s easy for risks to turn into reality. With Bitlyra, both buyers and sellers can enjoy the ease that comes with eliminating the intermediaries that connect them. So, trading online just became simpler.

Business Scenario

Trading with a stranger on the internet – whether it’s old video games, the latest vacuum or homemade earrings – brings its challenges. Users often have to pay high fees or commission to the platform, can potentially have their data stolen and could be the victim of a scam. Essentially, the trading platforms become something of a “black box” functioning as a third party between buyers and sellers.

25% of global online marketplace users are concerned about the lack of transparency, and 32% are worried about protection of consumer data. Of course, with no hints of brick-and-mortar stores making a comeback, eCommerce needed to change the way it was doing business. Bitlyra is the industry’s solution – providing a global online marketplace running on digital currency and bitcoin, that demands just 1% fees for sellers.

The modern-day solution to eBay, Bitlyra enables users to easily set up their own online store, reach a new audience and get paid in cryptocurrency.

The Solution

Bitlyra partnered with Australian Blockchain Solutions to build a product that would meet the evolving demands of online traders.

Users can buy and sell products using cryptocurrencies such as bitcoin and Ethereum. In order to protect users’ digital assets, funds are stored in secure offline storage, and all cryptocurrency stored on the server is covered by comprehensive insurance.

At just 1%, Bitlyra requires the lowest fees of any online marketplace, while delivering superior buyer protection, zero fake reviews and a money-back feature thanks to an iron-clad built-in escrow service. It’s this peace-of-mind and inclusivity that puts Bitlyra as a leader and early adopter in the worldwide digital currency marketplace. Humans may have been trading since the beginning of time, but the future is decentralisation.

The Process

#
CREATE AN ACCOUNT

Buyers and sellers sign up to Bitlyra online marketplace.

#
SELLER POSTS AN ITEM & BIDDING BEGINS

Seller uploads the details of the item they want to sell and waits for incoming bids from potential buyers.

#
BUYER PAYS FOR THE ORDER

Bidding price must cover cost, shipping and escrow. The seller accepts a bid, and the buyer pays for this using a smart contract.

#
SELLER SHIPS ITEM & BUYER CONFIRMS DELIVERY

When both parties’ funds are locked in the escrow, the seller ships it and provides tracking details.

Key Features

  • Transparent transactions
  • Decentralised system
  • Streamlined processes to transfer funds and products
  • Secure & reliable
  • Lowest fees on the market
  • Easy to set up
  • Simple search features
  • Secure escrow and dispute resolution

Business Benefits

  • The buying and selling process operates on a decentralised platform, with no intermediaries needed.
  • 1% fees for sellers – lower than anywhere else.
  • Payments are instant, secure and transparent.
  • Fraud is eliminated and personal data protected.
  • Unbreakable and automatically executed smart contracts are used.

Accepted coins

Bitlyra accepts the following crypto coins as payment, and expects to expand this to open more opportunities to buyers and sellers.

Img-CryptoCoins

About Blockchain Australia Solutions

Blockchain Australia Solutions is a technology company that provides consulting and enterprise solutions built on blockchain platforms for corporate, enterprise and ASX businesses. Founded in 2017 as an early advocate and pioneer for the technology, we currently have offices across 4 Australian states, with over 5 years of blockchain experience.

We help clients develop an idea into a fully functional product. By requesting a proof of concept (PoC), you can validate whether the chosen architecture serves your business needs, identify weaker aspects and find ways to improve them. With a proof of value (PoV), you can gain an understanding about whether blockchain is the right fit for your business, estimate risks and predict ROI. To get early feedback from end users and prove feasibility and relevance in the market, we’ll start by developing a minimum viable product (MVP) for you.

Contact Us

Let’s connect so we can begin building a better future for your brand. Fill out this simple form and our team will get back to you quickly to chat about your project.