#csgomarketplace

[lootbear]

Bit Skins shutting down - HUGE update to LootBear - 0% transaction fee!

As shocking as it may seem, Bit Skins (Currently the number one most actively used in-game skin marketplace) is ramping down its operations and coming to a stop within the next few weeks.

This sudden news has undoubtedly ignited fear within the community of active traders, buyers and sellers of virtual items as this is the second time they have had to scramble to find a new marketplace to call home (The first time being the fall of OPSkins following its scandal with Valve and its 7 day trade ban). But how did this happen in the first place? 

The CEO of Bit Skins announced the news via a reddit thread less than a week ago where he  outlined the reason for the ‘abrupt’ decision. The process of shutting down the marketplace giant comes as a result of fraudulent purchases taking place on the Steam marketplace, with the users turning to Bit Skins as a way to cash out on their scam.

Some of Bit Skins’ bots were temporarily disabled before being reinstated with the warning from Valve that this could not happen again. Since they have no way to ensure the legitimacy of where skins come from, the team behind the platform have decided to pull the plug - Facing the legal wrath of Valve is enough to make anyone rethink their operation.

So what happens now?

Users have been given a 14 day window to withdraw their items and must either keep them or find another means of selling them on. But with the major player in the skin industry falling once again, where should they go?

Enter - LootBear

We here at LootBear created our platform due to our passion to deliver incredible value to gamers that love in-game items and skins. This is the entire philosophy behind our rental model - We want everyone to be able to play with whatever skin they love without it breaking the bank. 

Upon conception of Lootbear, we quickly became aware of the most important factor that would decide the stability, trustability and longevity of our platform - Security. Users want to know that their skins will be returned safely and that they will be rented to legitimate players. We wanted to be certain that both the skins and the money entering and leaving our platform were safe and came from legitimate authorized sources.

Because of this reason, our security and user onboarding system is incredibly sophisticated. We do everything in our power to ensure the legitimacy of every single user that joins our platform. Checking national ID’s and credit card records against a verified picture of every user that joins allows us to limit our risk substantially. This technology is unrivaled amongst our peers operating within the same industry. 

The rental model is our primary service but we do also operate as a buy and sell marketplace. Our fee for sales made on our platform has always been a competitive 5% and we have experienced a significant amount of traffic and satisfied users using this side of our platform.

In lieu of the news of Bit Skins and the huge demand for a trustworthy and established alternative for the millions of gamers left in the lurk; the decision has been made to lower our transaction fee to zero. That’s right, selling your skins on LootBear is now absolutely free - And that’s a great price (a reference for the 9 year old bros out there).

Just to confirm - Going forward there will be absolutely no fees incurred to any users buying or selling skins on our platform. Our skin rental service and subscription model LootBear Prime will continue to operate as usual alongside this as it always has done. 

The community needs to have a safe place to buy and sell their skins. And they deserve that platform to have invested HEAVILY in their security. They deserve that platform to be known and to have proven themselves through thousands of transactions. They deserve that platform to not have popped up out of nowhere to profit on the new found demand. LootBear ticks all these boxes.

We will be doing everything within our power to facilitate the incoming demand to ensure that everything moves forward as smoothly as possible. 

We look forward to providing the new and old users of our platform with an ever improving service.