A new Russian online marketplace that allows users to buy and sell goods and services priced in cryptocurrency has rapidly expanded in recent months. The Mentalmarket website has been publishing a growing number of ads in a dozen categories, from “cryptoindustry” to “real estate.”
Audis Sold for Digital Coins
Mentalmarket looks like any other website with classified ads, but all of its items are priced in cryptocurrency. The platform supports payments in major coins such as bitcoin core (BTC), bitcoin cash (BCH), ether (ETH), litecoin (LTC), zcash (ZEC), Ripple’s XRP and dash. Prices are also displayed in U.S. dollars for convenience.
The marketplace has been gaining popularity among Russian crypto enthusiasts with a growing assortment of products and services. Users can buy almost anything — from mining hardware and bitcoin ATM devices to plots of land around Moscow and a hotel in Sochi. A farmer from Tashkent even sells sheep at 0.074 BTC a head.
An Audi dealer in Saint Petersburg, Russia’s second-largest city, recently posted a number of ads on Mentalmarket. “You can now buy any Audi model with cryptocurrency,” Kirill Skotnikov, Mentalmarket’s CFO, announced. Some of the more expensive models are selling for over 35 BTC, while an Audi A3 costs around 230 ETH.
Skotnikov is convinced that the limited number of everyday use cases is one of the reasons for the current downward trend on crypto markets and the bias against the technology. Quoted by the Russian news outlet Blockchain 24, he said:
Our mission is to make the daily use of cryptocurrency as familiar and simple as using bank cards by offering a wide range of goods and services and providing the infrastructure to simplify the interaction with cryptocurrencies for a large number of users.