Tutorials

Placemarket Review


The Placemarket is another new deep web market on the scene. With a simplistic design and useful features, the Palcemarket seems to have a bright future ahead. It offers 2-out-of-3 multisignature escrow along with the traditional centralized escrow. Your account is protected both by the password and security PIN along with the optional 2-factor authentification (PGP key) and with a secret passphrase to avoid phishing scams.

Placemarket URL:

http://plcmkt2lhafgfrkb.onion

 

How to Access the Placemarket

The Placemarket is a deep web market which means you’ll need to download and install the Tor Browser in order to access it. The Tor browser also keeps your identity safe. You may also want to consider a good VPN service.

In order to use the 2-factor authentication feature provided by the Placemarket and, most importantly, to communicate safely within the market, you’ll need a PGP key. PGP allows you to communicate with sellers through encrypted messages, ensuring that your private information doesn’t fall into the wrong hands, even if the market is seized or hacked.

You will also need Bitcoin to make purchases in this market. In order to buy BTC, you’ll need to do so through an exchange. In order to preserve your privacy, we advise you to use a decentralized exchange like Bitsquare. Remember to always use a Bitcoin mixer to clean your coins when depositing and withdrawing from the market and always use multiple addresses.

Creating an account

You can create an account by clicking this link: http://plcmkt2lhafgfrkb.onion/Market/Register or by going to the original link and clicking register.

You’ll need to fill out the form with your username and password (remember to use a name that is not connected to your real-life identity). You’ll also need to choose a secret phrase and a PIN number.

The secret phrase is shown to prove that you’re not being phished and the PIN is required for withdrawals.Lastly, you have to add a PGP key, which allows you to communicate within the market and to have 2-factor authentication, which adds an extra layer of protection to your market account.

When logging in, you need to enter your username and password and to solve a captcha. If you have entered your PGP key, you’ll also need to decode a passphrase that will allow you to enter the market.

Interface and functions

The Placemarket is extremely easy to use. Starting from the left, the “Placemarket” button will take you to the home page which is the “store front”. Then, you have “become a vendor” which is pretty self explanatory. Only become one if you know what you’re doing, of course. Next, you have your balance. By clicking here, you’ll be taken to your balance page where you can deposit and withdrawal funds from the market.

Then, on the right side of the screen, we have “Categories” which is a quick way to navigate to the category you want to see without going through the market front page. Then, we have “your usename”. When you hover your mouse, you will see various submenus.

Received and Sent messages are your in and outbox, of course. Then, we have the purchase history, settings and logout. By clicking settings, we’re taking to another page where you can set a different PIN number, change your personal information, set a PGP public key and a multisig public key. The latter of which allows you to use the multisig escrow feature.

Categories/Listings

The Placemarket is fairly new so there are very few listings. However, the market is neatly organized with multiple categories:

Each category has several submenus that allow vendors to organize their listings. However, there aren’t many to check out for now, so let’s move on.

Search Functions and Filters

The search tool isn’t that great. You can search for a specific keyword on the whole market, but you can’t narrow down your search with categories or filters.

How to Add Funds

If you want to deposit Bitcoin, simply click the button that displays the BTC price (the third one counting from the left). You’ll be taken to the balance page.

To deposit, simply send Bitcoin to the address shown on the left and wait for the transaction to be confirmed by the network. To withdraw, enter the amount and click “Send” on the right. You’ll need your PIN code to withdraw.

How to Choose the Right Vendor

This is likely the most important section of this review/guide. Choosing a good vendor will, not only ensure that your product has the promised quality, but also that it actually arrives. Vendors with a positive feedback and with a long history of successful sales is less likely to scam you. It can still happen though, so never make a purchase you can’t afford to lose.

You can choose between a traditional escrow or a multisignature escrow. With the former, the market will hold your funds until the sale is complete. With the latter, you will hold the funds in a “joint account” with the vendor and market. Two of the three signature holders must allow any transaction. Mutlsig allows you to keep a certain control of your funds and makes exit scams by vendors and markets much more unlikely.

When you find the item you’re interested in, simply click the name of the listing or image. You’ll be taken to the item detail page. Here you’ll be able to see the item feedback left by previous buyers. However, you can’t see an actual seller page with all his feedback. This feature may be added in time.

How to buy

Once you find the item you want to buy, click the name of the listing or image. You’ll be taken to the item detail page. Here you’ll be able to see more details about the product. You can choose your shipping details and between multisig or traditional escrow (if available).

Then, you’ll can send a message to the vendor. Here you should place your address info. Remember to encrypt your message.

In order to use the escrow option, you need to have a market balance and in order to use multisig you must first add your public key to the settings page.

Support & Help

There is no support page for now. There is, however, the following notice:

“For general support, contact our support representative, Shaman. For issues regarding Placemarket’s system itself, Contact the admin directly.”

Clicking any of the two links will take you to the “send a message” page where you will be able to contract support.

 

Pros and Cons of the Placemarket

Pros

  • Simple and intuitive
  • Organized
  • Multisig and traditional escrow

Cons

  • Few listings
  • No detailed seller page
  • Low quality search tool
  • Poor design

 

Placemarket

Amount of Vendors
User Experience
Support
Reliability
Final Thoughts

The Placemarket is another new deep web market on the scene. With a simplistic design and useful features, the Palcemarket seems to have a bright future ahead. It offers 2-out-of-3 multisignature escrow along with the traditional centralized escrow. Your account is protected both by the password and security PIN along with the optional 2-factor authentification (PGP key) and with a secret passphrase to avoid phishing scams.

Overall Score 3.3 Market Review

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