Let’s start off with a custom contract where you wish to sell something on the marketplace:

  1. On the “Home” tab of the client click on the “Custom Contract” box.
  2. This will transfer you over to the “Make Offer” tab and smaller window will pop up as well giving you the option to “Automatically accept first valid offer” and/or “Allow counteroffers/bids”. Check the appropriate boxes you prefer and click “Accept”.
  3. Enter a description of your item for sale in the “Description” box.
  4. If you wish to include an image upload your file (the client supports .jpg, .jpeg, .png,and .bmp files).
  5. The “Send Contract To:” box has many different purposes. It is quite an amazing feature.
    1. You can enter an email address to send the contract to  – which would only allow the email receiver to see the contract!
    2. You can enter a bitbay address to send the contract to – another, private contract option!
    3. You can enter a personal bitmessage address to send the contract to – again, private contract!
    4. You can enter an existing bitmessage market address channel.
    5. Or you can enter a new bitmessage market address channel. To generate the new bitmessage market address:
      1. Click on the “Market” tab and then click on the  “Add/Join Market” box.
      2. This will open a window that asks you to name the new market you wish to create.
      3. It might take a couple minutes for the market to generate (remember bitmessage networking lacks speed but is highly secure)
      4. Then in the same “Market” tab window, you will click on the scroll down box next to the search engine in the top right of the window.
      5. This will open a drop down menu that shows all the available markets to choose from.
      6. Find your market name you just created and click on it.
      7. Then simply click on the “Post offer” box below.
      8. This will bring you back to the “Make offer” tab window. And you should notice that a new bitmessage channel has populated into the “Send Contract To:”field.
  6. The “Amount” box enter the amount of bitbay coins you wish to sell the item for. To the right of that box is setting that allows you to either post a contract to either hopefully buy an item (default) or to sell an item. Adjust this setting to “The other party pays this amount (I’m the seller)” – since we are selling an item in this example.
  7. The Fee box adjuster can help regulate how fast transactions process into the blockchain. This is set at a default amount. To understand more about the fee box refer to the Help tab Documentation article.  Keep in mind Ebay charges around 10% per transaction while Bitbay charges fractions of a penny – yet this helps prevent spam and support the blockchain.
  8. In the next box “You Deposit” – you will finally begin to see the inner workings of the double deposit, trustless, escrow protocol. In this box you have many options to consider
    1. You could set a lower than asking price deposit if your not worried about buyers on the item you are selling,
    2. Set an equal deposit to match the risk of the item you are selling
    3. Or set a higher deposit because you simply want to add extra protection on the item you are selling.
  9. In the next box labeled “ They deposit”, you will enter the amount of deposit you require that the buyer must input in order for the contract to begin negotiation and completion.
  10. The final box is simply the duration of the contract, either in hours or days.
  11. Once finished, click on the “Create Contract” box.

Congratulations, you just created your first contract into the marketplace. The contract usually take a few minutes before it propogates into the marketplace or “Market” tab.

Enjoy the beginnings of the future of commerce!

Remember: If you have further questions, don’t forget to click on the “?” box in the “Make Offer” tab window or refer to the “Help” tab and click on the “Documentation” article.