"We realized that we have a lot of consumers who hold digital currencies but have no place to spend them. So we expanded our crowd buying for this community. The crypto markets can drop if there's a lack of general purpose application. With our platform, we see a real opportunity to provide real utility," said James Klymowsky, founder of Peddler in a statement.
The company will also offer crowd-buys on the purchase of cars using cryptocurrencies throughout the EU within the next month.
Peddler’s platform uses an artificial intelligence system created by the company that analyses data from forums anywhere on the web to find out what a consumer wants.
This also allows the company to almost guarantee suppliers that they can sell their products and in return, the company gets substantial price reductions for customers.
The company says that it can offer brand-name products from Nike, Samsung, Dyson at a 20 to 50 percent lower price than even Amazon.
Peddler says it also plans to start paying customers for their data by cutting out middlemen like big advertisers and will start paying users for sharing the things that they want.
"Our ambition is to scale and become decentralized to provide our AI and crowd buying capability to everyone everywhere, even one day cutting out Peddler.com itself," Klymowsky said.