We have released major new enhancements to BarterQuest. Two of the more important changes that we have introduced are account verification and the equalization of trading values by using points, a non-cash exchange currency.
As part of making BarterQuest a safe and enjoyable trading platform, we now encourage all users to verify their accounts. There is a one time verification fee of $1.99 to complete the verification process.
Why do I need to be verified?
We want everyone to have a good experience when they trade with any of the thousands of other users on our site. Account verification increases the security of trades, providing greater confidence that you will get what you bargained for. When you verify, others will have more confidence that you are who you say you are. They will be more likely to trade with you. Moreover, you must verify before you can use points.
How do I verify my account?
Verification is fast and easy. The whole process should take less than three minutes.
We are using PayPal to process our account verifications. PayPal has a well earned reputation for keeping personal information safe. From our site, you will be redirected to PayPal, where you can either use your existing PayPal account to login or securely enter your billing information with a valid credit card. After PayPal processes the payment of the verification fee, we will capture your address and telephone number for our records. Your account will then be verified on BarterQuest and you will be able to use points.
There are several ways our site will direct you to the verification process:
- At the time of your first login, new users will be asked to verify their account. Account verification is not required at this point, but we encourage all new users to verify their accounts as soon as possible. As a verified user you are someone with whom other users are more likely to initiate trading activity. In short, you will be more likely to receive offers and more offers.
- For existing users, simply click the “My Account” icon on the upper right hand corner of the site. Under “Account Settings,” there will be a new link named “Verify My Account.”
- If a user tries to send or receive points as part of a trade, they will need to verify their account before taking this action.
Upon successful verification, the user will have a “Verified” checkmark next to their user name wherever it appears on the site.
What are points and why do I need them?
Points are our non-cash exchange currency. One point equals one dollar. You can purchase points at any time and your points can be redeemed for cash. You can “accumulate wealth” by trading for points and then use the points to acquire items.
The principal use of points is to allow you to equalize the value of a trade, for example, my item plus 10 points for your item. Consequently, points are best utilized when the parties believe that there is a significant difference in the value of the items to be traded. Points are not meant to substitute for your judgment that a trade is generally fair, that is, that you are getting something of equal or greater value to you than the item you are trading. If you try to be too precise in your valuation, your opportunities to trade can and probably will seriously diminish. This being said, points can represent a material portion of the total value of what you are offering or what you will receive (and, as previously mentioned, you can, in fact, offer points alone to acquire items posted on our site). As is the case with any offer, the owner of the item is never obligated to accept points as part of or in lieu of a trade.
Users are not able to request points alone as payment for their items. This is to prevent users from bombarding you with what amounts to solicitations for the purchase of whatever they have to sell. After all, you are on our site to trade, not buy.
The transfer of points from one trading partner to another is subject to our Secure Payment feature. Secure Payment is intended to provide you with greater assurance that if you use points in a trade (or alone for the acquisition of an item), you will not lose the points if you don’t get what you bargained for. It is a form of escrow, pending the satisfactory completion of the trade. Your trading partner will not be able to use the points in another trade or redeem the points for a period of 14 days following (1) the confirmation of a trade involving goods, (2) the completion date for services, or (3) the first occupancy date for real estate, unless you have decided to release the points earlier. If you dispute the trade during this period, the points will not be released to your trading partner until the dispute is resolved.
How do I purchase points?
There will be two ways you can purchase points:
- Under “My Account,” there will be a new section named “My Points.” This section will show all your points activity, like point purchases or the points you received in a trade – similar to a bank statement. Here, the user can purchase any amount of points for use when sending an offer, counter offer, or accepting a trade.
- If you send an offer (or counter offer) involving points, or if you receive an offer requesting points (in addition to your item) and want to accept the offer, the necessary amount of points must be available in your account or any deficiency will be pre-authorized for your purchase at that time. The actual purchase of any points necessary to complete the trade will occur only when you enter into a trade agreement (when the trade is confirmed).
We are very excited about the “re-launch” of BarterQuest and believe that the site is better than ever. Please let us know of any comments or questions you may have. Good luck and good trading!