FAQs

What is dMarqt?

dMarqt is a decentralized marketplace powered by Artificial Intelligence(AI). We allow users to transact easily and safely online by taking away traditional payment gateways.

How does dMarqt work?

Users can sign up using a Twitter account or a Web3 wallet, undergo KYC verification, and then either buy or sell items. The platform supports transactions in various coins like SOL, ETH, USDC/USDT, and BTC.

What is dMarqt's mission, and what are you working towards?

dMarqt's mission is to bridge the gap between the traditional e-commerce sector and the crypto world by creating a fully decentralized marketplace that offers security, transparency, and ease of use. We aim to empower both buyers and sellers by providing a platform where they can transact with crypto in a secure environment, leveraging blockchain technology to foster trust and democratize commerce.

How and why will dMarqt be cheaper than top marketplaces like Amazon, eBay, and other marketplaces?

dMarqt significantly reduces costs for sellers in several ways:

• Eliminating Middlemen

• Lower Transaction Fees(2.5%)

• No Payment Gateway Fees

With traditional marketplace fees averaging around 12%, dMarqt’s 2.5% fee is approximately 80% lower, making it a far more cost-effective option. This substantial reduction in fees allows sellers to offer more competitive pricing, which in turn, makes products cheaper for buyers. Both sellers and buyers benefit from these lower costs, making dMarqt a superior choice for all users within the marketplace.

Market Comparison:

• Amazon: Charges sellers over $40 monthly for listings, plus a 6% to 45% referral fee, averaging about 15%.

• eBay: Total fees, including listing and final value fees plus payment processing, can reach up to 15% per sale.

• Shopify: Monthly platform fees start at $29, with additional transaction fees and payment gateway costs pushing total fees to about 5-7% per transaction.

How big is the gap between crypto and e-commerce? How is dMarqt solving it?

Due to high transaction fees, the limited number of stores accepting crypto, and prevalent frauds/scams in some decentralized marketplaces, there is a significant imbalance between using crypto and traditional e-commerce.

dMarqt addresses these challenges by operating on nearly cost-free blockchain networks, integrating stablecoin payments such as USDC & USDT to stabilize transactions, incentivizing both sellers and buyers on the platform, and maintaining high security. This is achieved through AI-driven content moderation and manual oversight to ensure a secure trading environment.

How does dMarqt differ from Silk Road and other previously unsuccessful decentralized marketplaces?

Unlike Silk Road and other failed decentralized marketplaces linked to illicit activities, dMarqt is built on transparency and legality. We strictly adhere to all laws, require KYC verification, and use blockchain technology to ensure every transaction is traceable and secure, maintaining a safe and legal trading environment.

How are you making the marketplace 100% secure for the buyer?

dMarqt secures transactions using smart contracts to hold funds in escrow until the product is confirmed shipped. Our platform enhances security with end-to-end encryption, blockchain-based transaction records for transparency, and strict KYC protocols to verify all users.

In case of disputes, we ensure that buyers receive their products, sometimes even compensating either party to uphold trust and reliability on our platform.

What cryptocurrencies can I use on dMarqt?

dMarqt supports several major crypto coins including Solana (SOL), Ethereum (ETH), Bitcoin (BTC), and stablecoins like USDC/USDT.

Do I need to complete KYC to use dMarqt?

Yes, KYC verification is required for users who want to sell or list products on dMarqt to ensure a secure trading environment.

Can I set up my own shop on dMarqt?

Yes, users can create their own shops as vendors on dMarqt, with customizable features such as shop name, logo, and cover photo.

How is the security of transactions ensured on dMarqt?

dMarqt uses blockchain for transactions, which are secured through smart contracts and an escrow system to ensure funds are safely exchanged.

What fees does dMarqt charge?

dMarqt charges a transaction fee of 2.5% from each transaction.

How can I benefit from discounts on dMarqt?

Vendors can offer discounts to buyers who hold specific crypto tokens. Discounts are automatically applied at checkout if the buyer's wallet meets the token requirements.

What is the return policy on dMarqt?

The return policy may vary by vendor. dMarqt facilitates interaction between buyers and sellers to resolve any issues, including returns and refunds, through its platform.

How does the review system work on dMarqt?

Buyers and sellers can rate each other after a transaction. This helps build a trustworthy community and ensures a high standard of service.

Can I sell digital products on dMarqt?

Yes, dMarqt supports the sale of both physical and digital products.

What is the process for listing an item on dMarqt?

After completing KYC verification, vendors can list their items by setting a price in their preferred cryptocurrency and adding product details.

How does dMarqt handle shipping?

Shipping details are managed between the buyer and seller. dMarqt provides tools to facilitate communication and ensure that shipping information is exchanged securely.

Are international transactions supported on dMarqt?

Yes, dMarqt supports international transactions, allowing users from different countries to buy and sell products using crypto.

What happens if there is a dispute between a buyer and a seller?

dMarqt has a robust dispute resolution process in place, which involves moderation by the platform to resolve conflicts fairly.

How can I access customer support on dMarqt?

dMarqt provides customer support via email and through the platform. Users can reach out with any issues for prompt assistance.

Is there a mobile app for dMarqt?

Currently, dMarqt can be accessed through web browsers. Plans for a mobile app are under consideration.

How often are new features added to dMarqt?

dMarqt regularly updates its platform with new features based on market trends and user feedback.

Can I use dMarqt for wholesale transactions?

Yes, dMarqt supports both retail and wholesale transactions, providing a versatile platform for different business needs.

How do I start using dMarqt?

To start using dMarqt, simply register using your Twitter account or a Web3 wallet, complete the KYC process, and you can begin buying or selling immediately.