5 Reasons why CoinMall is better than OpenBazaar

It’s nice to think that a centralized service could offer no fees and no censorship, but that’s not possible in the long term. I’ll post a section of a post I wrote entitled “Why is Decentralization Important?”

Beyond just being able to use cryptocurrencies easily, decentralization is what allows for all of the other benefits of the marketplace, such as:

  • There are no fees to use the platform
  • There is no central authority collecting data
  • There is no central authority able to take down a store or force a user to follow their terms and conditions
  • Users have total control of all of their trade

Centralized marketplaces can’t offer these guarantees because their revenue models require that they do things to impose on users in one or all of these areas.

  • If they didn’t charge fees, they’d need to monetize with user data
  • If they didn’t want to monetize user data, they’d need to charge fees
  • If they didn’t censor transactions and take down stores, they’d be forced to do so by governments (or be shut down themselves)