We’re excited to be announcing our new list of updates and features

First, we would like to thank you for being a part of this amazing journey and we would like to welcome you to our Newsletter. This is issue #1 and this newsletter which will be sent only when major updates, features and announcements need to be made public.

Our most recent and exciting achievements is finalizing the paper work and documentation to register bitify as an operating business here in Australia. Our head office address along with other details are now publicly available on the ASIC register.  We will be updating the site soon with a little more information about the faces behind bitify!

We have introduced a number of new features recently aimed at making the buying and selling process easier.  These include:
– Displaying seller name, rating, and other details in advanced & category searches.
– My Account landing page now shows Recent Sales and Recent Purchases.
– Additional information on Sold items for sellers including shipping address, current status, and transaction ID for received funds.
– Additional information on Won items for buyers including seller name & rating, current status, and trasaction ID for refunded items.
– More clarity on Cancelled items – these are now included in your account Won Items with a status of Cancelled.
– Refunded Items added to Buyer menu to show buyers all items for which they have been refunded.
– Enhanced comments on listings via integration with Disqus.
– Better social media integration on listings.

Not all of our work goes into what our users see.  In recent weeks we have been working feverishly behind the scenes to improve our overall service.
– Site performance has been improved through new hardware purchases, CDN integration, and a new caching system.
– We have hired a part time editor to monitor the site content and suspend anything we suspect as being fraudulent or against our terms and conditions.  Hopefully this will lead to less cancelled sales and refunds!
– We are gearing up to launch advertising and marketing campaigns across various websites and publications to increase our exposure.  This will in turn bring more buyers and sellers to the site, giving a better experience for everyone.

We’re also excited to be announcing that effective immediately we are waiving escrow fees on refunds made due to cancelled purchases. We believe it’s not fair for buyers to get charged an escrow fee when the seller cancels a purchase, so we will be limiting the fees on cancelled items to only what the network charges us for processing the refund.  For BTC transactions this is 0.0001 BTC and for LTC transactions it is 0.001 LTC

Unfortunately all of these improvements do come at a cost.  As such we regret to announce that bitify will be increasing the seller fees from 1.5% to 2.5%* effective from the 15th of May 2014. Escrow fees for buyers will remain the same at 1%*. This extra income will be used to help us further improve the site and services, add extra features, and start our well overdue marketing campaign to bring more buyers to the site.

*Fees are subject to a minimum of 0.001 BTC / 0.05 LTC

We have a long list of “Under Construction” features which we would love to share with you very soon, but for now…