Firearms Auction Site Is The First And Only To Incorporate Bitcoin Escrow For Guns

Bitcoin users can now buy and sell firearms within a more secure environment.

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BitMags Escrow - Bitcoin Firearms Auction
Buyers no longer have to worry about getting scammed, knowing their funds are safely in escrow

(PRWEB) August 10, 2014

BitMags.com prides itself as the first and only escrow-enabled Bitcoin firearms auction website where users can buy and sell guns and related items for Bitcoin (BTC). Buyers and sellers are both protected by the escrow system that holds the funds until the transaction has been fully completed. Items must be received "as described" in the auction before funds are released to the seller. Pending shipping time, a typical transaction can easily be completed in 3-5 days from date of purchase, which is considerably faster than the traditional “wait for a cashier’s check, and then ship” approach.

Additionally, all disputes are moderated by the BitMags Admin, whose decision is final. “Buyers no longer have to worry about getting scammed, knowing their funds are safely in escrow”, says the BitMags management team.

Bitcoin’s reputation is largely tarnished to this day by its connection to illegal marketplaces like Silk Road, where one was able to purchase anything from drugs to a hitman. BitMags is trying to change that stigma by allowing Bitcoin users the ability to safely buy and sell guns for bitcoin and promoting the following of all local and federal rules and regulations.

‘Guns for Bitcoin’ is currently a seller’s market, due to the fact that there are very few places to buy firearms for Bitcoin. Buyers far outweigh sellers and are willing to pay a premium to be able to purchase with BTC. This has led to a large opportunity for sellers to begin listing their guns for Bitcoin, while furthering the adoption of the new type of currency.

The company’s success is also partially due to offering free registration and low selling fees that are only charged if the item sells. Currently, BitMags management is seeking more sellers to list their goods and is offering to feature seller’s auctions on the home page and category pages for free.

Readers can learn more about BitMags Escrow – Bitcoin Firearms Auction at: https://www.bitmags.com


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