Today is a big day for cryptocurrencies.
Craig Newmark, the founder of Craigslist, has just added a feature to his site that allows users to specify that they accept cryptocurrency payments.
Craigslist is a classified listings site that allows people to list ads for what they are selling or what service they are offering. One can find many things from jobs, to gigs, to cars, to housing, and other things on the site.
Craigslist was founded in 1995 in San Francisco. It has spread like wildfire since then, with many users adopting it across various cities and states in the U.S. Craigslist saw its rise because of its simple promise, connect to those around you for whatever you might need. You want to go check out who has yard sales or estate sales? Find it on Craigslist. Want to see who is willing to trade their PS4 for something else? Find it on Craigslist. Have writing skills and want to let people know about it so you can gain clients? Go and post an ad on Craigslist.
Craigslist also has a simple user interface. Most of the time you don’t even need to login to use the site, all you need to do is post and move on. You get responses carried to your email, so you don’t need to constantly visit the site. Its simplicity and anonymity has helped it continue to stand the test of time and the progress of innovation. Craigslist has not changed much since they launched, as it still has a 90’s type forum look to it, and it looks like the team over at Craigslist are proud of it!
Even with all of the competition and new apps that are regularly coming into the market to overtake aspects of Craigslist, Craigslist reigns supreme. The site is ranked at 106th place in the world according to Alexa Rank metrics.
The Introduction of Crypto
Well, it looks like Craig has joined the crypto movement and is introducing the wonders of crypto to the platform. Some users can now see the phrase,“cryptocurrency ok” when browsing through listings.
The site brings about many advantages for the the cryptocurrency, most importantly the large exposure it gives to it. Many users that are on Craigslist on a regular basis will now be able to continuously see the options for crypto. They will likely get interested, check out what crypto is, and might just get involved in the industry, using the coins to transact, as opposed to simply using fiat currencies like dollars.
Bitcoin will be a boon for Craigslist in regards to security of those who are transacting, as a reddit user stated :
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“From the seller’s perspective, they can have a watch-only wallet & see the TX confirm.
From the buyer’s perspective, if they’re paying with a private key-holding mobile wallet, they have to worry about the stranger seller robbing them of their mobile while it’s unlocked.
If the seller agrees to lock the BTC price, the buyer can just come with a signed TX from their non-mobile wallet & use a pushtx service in front of the seller, no mobile wallet required.
A seller with good reputation/ratings they can link to their phone # can also request that the payment be made in advance of the buyer’s arrival, so that it has time to confirm. There would need to be a refund/no-refunds policy.
Then there’s what can happen when Lightning becomes ubiquitous…”