Peer To Peer Marketplace: Top 5 Examples

Nowadays, there is a myriad of companies worldwide that are using cryptocurrency and other digital assets for different purposes. These purposes can be related to investment, operations, and transactions. Cryptocurrencies have become one of the most prominent topics and also well-known as the strongest incentives. These digital assets are the safest, the most transparent, and the most efficient methods to run a successful business. That’s why a multitude of companies are approaching a reliable peer to peer marketplace development company to trade their digital assets more conveniently.

Are you one of the crypto dealers willing to get connected with other traders across the globe? Well, here is one of the best solutions for you. With peer-to-peer marketplaces known as the highly secured mechanisms & the greatest liquid crypto exchange platforms you can surely be able to automate every user’s transaction. As a result, a range of crypto businessmen have begun showing their keen interest in using cryptocurrencies.

If security and privacy matter to you in your life a lot, Peer to peer marketplace platform development is one of the best options avialable. Keep reading this blog carefully if you are willing to familairize yourself with peer-to-peer marketplace examples and a peer-to-peer marketplace list consists of a few prominent marketplaces.

Statistics Related To Peer To Peer Market

In 2021, the revenue of peer-to-peer marketplace was valued at USD 1078.0 million and is anticipated to increase USD 5.1 billion by 2032 at a compound annual growth rate of 15.5% between 2022–2032.

An Overview Of Peer To Peer Marketplace

A peer to peer marketplace is an online platform that makes a strong connection between suppliers & their products with consumers. This platform is an ideal way to provide individuals with a range of options namely- to sell unused items, exchange goods, pay for innumerable solutions, and rent out products.

List of Peer To Peer Marketplaces

There are four major types of peer-to-peer marketplaces. They have been divided on the basis of the services that these marketplaces offer-

Rental Marketplace

A rental marketplace is one of the peer-to-peer marketplaces that offer users access to select an extensive range of properties for rent. The owners of these platforms have the chance to charge renters for almost every transaction. It also includes- transaction fee or charge fees.

For example: HomeAway, Airbnb

Product Marketplace

Product marketplace is a platform that enables sellers to display all products online. But, it’s essential for you to know that it takes a certain fee for it.

For example: Etsy, eBay

Service Marketplace

Service marketplace refers to those peer to peer online marketplaces that assist consumers in searching individuals who have required skills. It allows clients to be confident that they will have highly qualitative employees in the coming time. It’s reality because the managers arrange interviews for verifying the skills of candidates before providing them with access to the platform.

For example: Helpware, TaskRabbit

Money or Loan Marketplace

Money or loan marketplaces are concerned with making investments in loans or acquiring financing. Below are a few key areas available for individuals to invest valuable money in. Those areas are-

• In music
• In painting
• In people’s education
• In rehabilitation
• In people’s healthcare

For example: Kickstarter, GoFundMe

Top 5 Examples Of Peer-To-Peer Marketplace

Airbnb

Airbnb refers to an online marketplace that interlinks individuals who are willing to rent out their property with those who are in search of accommodations in particular localities. It offers individuals one of the easiest and hassle free ways to earn a big amount of money from their own property. This way, with the help of a mobile app provided by the company, users can list, discover, as well as book unique accommodations worldwide.

Etsy

Etsy is a digital e-commerce marketplace for those who are independent crafters, collectors, and crafters. It enables them to open virtual storefronts to sell their products. One of the fascinating things is that around 80% of sellers are women, and all are independent creators. And it is one of a kind of global online marketplace, where people come together to make, purchase, sell, and collect unique items.

eBay

eBay is famous as a marketplace and an auction house that generally facilitates the sale of commodities between third-party purchasers and sellers. Purchasers visit the site for searching products they have the desire to purchase from a range of individual sellers. And afterwards they bid on items through individual auctions. Pierre Omidyar is the founder of eBay, the world’s biggest marketplace. This marketplace has over 195 million active purchasers across the globe.

TaskRabbit

TaskRabbit is a mobile marketplaces and an online marketplace that matches freelance workers with local demand. It allows consumers to find assistance for performing everyday tasks. These tasks include- furniture assembly, handyperson work, delivery, and several more tasks.

One of the greatest things about this marketplace is that it enables users to search Taskers to know about the experiences of the previous clients, share their own reviews, and make comparisons of hourly rates. Altogether if you are in search of help to accomplish your project, Taskrabbit is undoubtedly one of the greatest resources to find freelancers in your locality.

Kickstarter

Kickstarter is one of the leading funding platforms or crowdfunding marketplaces. It is for creative projects. It has an entire focus on offering resources, assistance, and also funding to innovative ideas & products. This marketplace deals with everything including- film, music, games, art, technology, and design. Apart from this, Kickstarter platform is prominent among businesses of all scales & types dealing with imaginative, ambitious, and innovative projects to make an unexpected level of profits.

Must Have Features Of Peer To Peer Marketplace

Here are a few major features of peer-to-peer marketplace; let’s have an overview of all of them-

User Profile

User profile page displays the name of the user; a profile photo or an icon; the number of accomplished orders; contact details; the average rating, and a few more things. It enables owners to be alert in case the vendor or buyer is going to commit any fraud.

Platform’s Listing

Sometimes it happens that sellers feel inconvenience in publishing, updating, deleting, browsing, and searching the listings of the platform. In such cases, you can create an ideal logic for your platform’s listings. It enables business owners to make the peer-to-peer marketplace website the first & the foremost option to utilize frequently.

Notifications

To accomplish the orders as per the given deadline, it’s essential to get personal notifications regarding the orders. It enables sellers to know when they get orders and helps purchasers to monitor all goods that are available at the moment. Apart from this, it also becomes convenient for buyers to know when the price of items rises or falls, and when the shipment status of their order has changed.

Website Search & Navigation

This feature enables users to search for all the required items. Through this, it becomes quite possible for users to find out the location, price of the item, product’s availability; color, brand, and a few more things concerned with the product that they desire to purchase. In addition to this, peer-to-peer marketplace have a well-developed and a well-structured navigation system. The best thing about the navigation system of the peer to peer marketplace is that it is beneficial in boosting the user retention rate and users’ interest in the website.

Transparent Ratings & Reviews

Ratings and reviews of any platform is one of the most excellent modes helpful in building trust as well as suppliers on your marketplace. If your platform has favourable reviews and high ratings; it will enable you to maintain the quality of your platform & win the competition. But, in case of unfavourable reviews & low rating, there are chances of achieving failures in the competition.

Benefits Of Peer To Peer Marketplace

There is a plethora of benefits of peer to peer marketplace. Here are some of the major ones; so let’s explore them all-

• Enables users to circulate information about your ecommerce marketplace
• Motivates to make your platform’s website recognized & helpful for other users
• Reduces all the geographical restrictions that takes place in case of offline commerce
• Eliminates business owners’ stress of delivering products. The only thing that they have to do is- just provide a simple platform for the buyers & sellers to interact with one another.
• Increment in the number of prospective users of website
• An ideal & the simplest marketplace system that captivates the attention of experts
• Helpful for developers in developing apps & websites of marketplace as per their choice
• Traders have to bear minimal cost to create an electronic trading platform instead of launching a much expensive online store or a full-fledged e-commerce site.
• Enable business owners to earn vast amounts of profits without any requirement of dealing with hassles.

Conclusion

All in all, Peer to peer marketplaces are one of the youngest but proposed fields of online commerce. Such types of digital marketplaces are very prominent and highly demanding in the market. After going through all the significant examples, types, and advantages of the peer to peer marketplace it will become more convenient for business owners to say that it’s really a successful trading platform. Additionally, the P2P marketplace is one of the greatest sources of motivation for startups & SMBs to be innovative in the market.